Is your bike covered by your home insurance?

In partnership with Beneva

Are you an avid cyclist? Whether you practise this sport for fun or you want to reduce your ecological footprint, your home insurance has your bike covered. 

What does this insurance cover?

Your bike, of course, including coverage against fire, theft and vandalism. All your bikes are covered, regardless of how many you own. Was your bike damaged while in transit in a vehicle or on a rack? Your bike is covered for that too.

What’s more, in the event of a collision with another vehicle or a pedestrian, you’re covered. And if you cause damage to others while riding on a bike path or road, your civil liability is also included.

Do you need to insure your bike?

No, not according to the law. However, it can certainly come in handy.

Does it cover your bodily injuries?

No, only property damage. In Quebec, if you’re involved in a car accident, the Société de l’assurance automobile du Québec (SAAQ) may cover healthcare costs based on the situation. It’s also best to have travel insurance when you’re outside your province of residence.

Bicycle insurance while travelling

Are you planning a biking tour of Spain? Before leaving, be sure to check two very important things:

Your home insurance, which covers your bike. This way, you’re covered against theft and material damage during the flight or at your destination.

Your travel insurance, which must remain in force throughout the trip. In the event that you’re injured during your tour, healthcare costs would be covered.

What types of bikes are covered?

ALL types. Simply check whether or not your insurance has a maximum coverage limit. For electric bikes, a maximum speed limit is indicated in the contract to cover damage.

Where can you ride safely?

Everywhere! Your home insurance covers your bike in your province of residence and wherever you go with it. Certain contract limitations may apply. 

A few tips to prevent bicycle theft

Even if you’ve got good coverage, these handy tips will help you reduce the risk of theft:

  1. Get a quality lock and use it in public places.
  2. Have your driver’s licence engraved on your bike. This will help authorities track you down more easily when they recover your stolen bike. Police stations lend this tool free of charge.
  3. Make a note of the serial number on the bottom of the bike pedal.
  4. Store your bike in a garage or shed under lock and key overnight.
  5. Avoid leaving it on a bike rack unattended for any stretch of time.
  6. Register your bike on the 529 Garage website, a community bike recovery service. Use their sticker to deter thieves.

Don’t know whether your policy covers your bike? Contact your insurance company to find out for sure and to know the maximum amount of coverage.

Take advantage of the exclusive offers and many member benefits of being with Beneva for your auto, home and recreational vehicle insurance.

Visit our Member Benefits section to see all our partners’ offers.