Choosing the right value to insure your bike for is really important. If you insure it for too little, you might not have enough money to replace it if something happens.
The simple rule
Insure your bike for what it would cost to replace it today - not what you originally paid.
Determining Your Bike’s Value
Current model bikes
If your bike is still sold in shops, use the full shop price (RRP) and include:
- The bike's RRP
- Pedals (if purchased separately)
- Any upgrades you’ve added
Example: Giant bike (£2,699) + upgraded pedals (£125) + upgraded saddle (£145) = £2,969
Older bikes no longer sold
Bike prices often rise over time. Find the current equivalent model and use that price.
Example: Your 2020 Brompton cost £1,185, but the current equivalent model costs £1,350. Insure it for £1,350.
Second-hand bikes
Even if you bought your bike second-hand, insure it for the current new price, not what you paid. Otherwise, you won't have enough money to replace it.
Example: You paid £799 for a second-hand bike. A new one costs £1,099. Insure it for £1,099 (plus any pedals or upgrades).
Custom-build bikes
Add up the current shop price of all your parts:
- Frame
- Groupset
- Wheels
- Tyres
- Other parts
This total is your insured value.
E-bikes with conversion kits
Add together:
- The bike's value
- The conversion kit price
- Any other upgrades
Vintage or antique bikes
You’ll need a professional valuation from a vintage bike expert. The valuation must be less than 3 years old.
Important things to remember
Keep proof you own your bike
When making a claim, we’ll ask for proof of ownership. Keep:
- Your receipt
- Photos of you with your bike
- Bank statements showing the purchase
- Messages with the seller
You can upload these to your Bikmo account so they're safe.
Don't include accessories
Your policy already covers accessories separately (e.g. lights, GPS, cycling clothes). Do not add these to your bike’s value.
Not sure what to insure for?
Your local bike shop can help you work out what your bike is worth. They know the current prices and can give you good advice.
Why does this matter?
Insuring your bike for too little could leave you short if it’s stolen or badly damaged. Always insure for the replacement cost, not the price you originally paid, to ensure you can get a replacement of the same quality.