A Comprehensive Guide To Bicycle Insurance: I bought a cycle about a year ago. I ride a Merida 40D which cost around 32K. Furthermore, 32k is a good amount considering you are investing in a cycle. Bike insurance is not a very discussed topic so let me shed some light on it.

A Guide To Bicycle Insurance
A Guide To Bicycle Insurance

Furthermore, I am thinking of now upgrading to a road bike in addition to an MTB. Also, a road bike will cost me more than 50 grand in India. 50k is a lot of money. I checked online if there are some options available for Bicycle Insurance In India.

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I found that not a lot of articles exist on the worldwide web when it comes to cycle insurance covers. So I decided to dig up a little and create this article for people who want to purchase expensive imported bikes. Yet, be on the safer side when it comes to anything hazardous which happens with the bike.

Let’s Find Out Which Companies in India Provide Bicycles Insurance Policy

There are not just pedal and bike insurance covers available in the market., however, your gadgets can be insured too. Gadgets like your cycling bags, locks, lights, stats meters, and other distance & cadence measuring systems come at a cost. Most noteworthy is that these gadgets are a costly affair. I went to buy a normal light for my bike. The best one available in the market is Sigma Buster, which I got for over 2000 INR. Imagine a light!

Insurance Is Available For Road, Hybrid & MTB Bike

Bicycle Insurance in India is available for every kind of bike that you purchase. Expensive imported bikes may have high premium costs than cheap bikes.  Let’s list the name of companies in India, who provide bicycle insurance in India.

General Terms & Conditions Applicable

I went through most of the insurance companies’ terms and conditions. They are usually the same. Few changes here and there. Please consult your insurance exec in case of more detailed T&C.

Section I-Loss of bike or damage of bike

It covers the insured against loss or damage to any pedal cycle caused by accidental external means by fire, external explosion or lightning or burglary, housebreaking, larceny or theft, accidental external means, or by a malicious act.

Section II-Liability to Third Party

It covers the Insured against all sums including the claimant’s costs and expenses, which the insured shall become legally liable to pay in respect of the death of or bodily injury to any person or damage to property.

Insurance Options For Bicycle Insurance

Bicycle insurance is not a very frequent and daily affair for insurance companies. This insurance as a product is always listed under “Other products” in their product catalog section.

New India Insurance

New India pedal insurance, insures your bike against damage and theft. Not just your bike but your expensive gadgets too. One of my friends who got the insurance done from New India Insurance for his bike had to pay a minute amount. Below is what He paid as he said.

Insurance premium came to 442 INR for a total insured amount of 20,060 INR which included accessories like cyclocomp, bottle, Bontrager stand.

Click on this link to go to New India Insurance Page

Oriental India Insurance

The Oriental Insurance Company Ltd. is a public sector general insurance company of India. This insurance company also provides pedal insurance, furthermore for expensive bikes. For the plan, you need to meet an Insurance exec of the company. There is not much information given online for the same. I recommend meeting an insurance rep from the company.

Click on this link to go to Oriental Insurance Company


Now I just example of two insurance companies. Bike shops have tie-ups with different insurance companies. In addition to selling bikes a lot of bike stores are offering insurance as well. Mostly from 3rd party companies and not the store itself.

I hope you liked the article. Please let me know if I have missed any point here. This is just the tip of an iceberg, once you start inquiring about cycle insurance, there is going to be a lot of complex things coming on your way. So, always take help from the insurance exec and someone who is into the insurance sector.


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