Understanding your Insurance

In this article:

• What does my insurance cover?
• Is there an excess on insurance claims?
• What lock and security do I need?
• Is anyone else covered on my bike?

What does my insurance cover?

Every plan includes the same insurance. It covers your bike against theft and accidental damage, including crashes, at home and away, and also includes:

• Cover 365 days a year, worldwide
• Your accessories, clothing and helmet, when they’re stolen or damaged while you’re using your bike
• Your bike box, when your bike is damaged or stolen at the same time
• Event entry fees, if you can’t take part in an event you’ve entered
• Help with hiring a similar bike while yours is repaired or replaced, if we agree the cost before you hire

Your policy schedule shows the covers, limits and excess that apply to you. Your insurance policy wording sets out the conditions.

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Is there an excess on insurance claims?

Yes. The excess is the part of each agreed insurance claim that you pay. The amount is on your policy schedule. Where an excess applies, Bikmo collects it from you directly. You never pay it to your retailer.

If your bike is stolen, or damaged beyond repair, it’s replaced through Specialized or a participating authorized Specialized retailer, and we waive the excess. There’s no excess on event entry fees either.

Service, Extended Warranty and Wear and Tear are not insurance, and have no excess.

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What lock and security do I need?

Use an approved lock graded by Sold Secure. In the UK that’s Gold or Diamond. In Ireland the grade depends on your bike’s value, and your policy wording sets it out. A cable that comes with the lock doesn’t count.

• Away from home, lock your bike through the frame to something fixed that it can’t be lifted over, and don’t leave it for more than 24 hours.
• At home, keep it inside your locked home, locked garage or locked shed, or locked through the frame to something fixed in a communal area.
• On a car, lock it through the frame to the rack. In Ireland, bikes on an outside rack must be taken off and kept securely between 9pm and 6am.
• E-bike batteries are covered for theft when they’re locked to the bike.

Keep your lock receipt and the keys. A theft claim will ask for proof of your lock, including the key.

Please refer to your policy documents for full locking and security conditions.

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Is anyone else covered on my bike?

Your insurance covers you and family members who live with you. In the UK it also covers anyone you’ve allowed to ride your bike, on the same conditions as if you were riding.

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