Frequently asked questions

Need more answers? Give us a call at 855-422-5945.
  • Isn't my bicycle covered under my homeowners insurance?
    While your bicycle may have some coverage under your homeowners policy, there are usually restrictions on the value of the bike and the types of losses that would be covered. With a bicycle insurance policy from Markel, you'll have the peace of mind in knowing that your policy is built specifically for you and your bike alone. Plus, coverage through Markel means your homeowners insurance rates won't increase if you have to file a claim.
  • How do you determine how much my bicycle is worth?
    You tell us. We know bicycles can get pretty expensive and want to make sure we provide just the right coverage. When setting up your policy, simply add up the cost of your bike as well as its fixed accessories and components. And of course, keep your receipts. While we may not need to see your receipts before issuing your policy, we may need to see them in case you file a claim.
  • What happens when I buy a new bike?
    Whether you're replacing your current bicycle or adding to your collection, we'll automatically extend your current coverage to the new bike for up to 30 days from the time of purchase. Just let us know before the 30 days are up for coverage to extend beyond that time period.
  • What about my apparel? Spare parts? Do you cover these too?
    In a word, yes. But only if you purchase bicycle physical damage coverage and your bicycle is involved in a covered loss. We automatically include coverage for spare parts (replacements for items that are normally part of the insured bike but were not on the bicycle when the loss occurred) and apparel (clothing or gear worn exclusively when riding the insured bicycle). Both coverages have a separate limit of $500 per loss and a $1,000 limit for the policy period.
  • Do you insure electric bikes?
    Yes! We insure bicycles with an auxiliary electric power assist that does not exceed 750 watts and 28 mph. For more information, please visit our e-bike page.
  • How much coverage do I need?
    We know that “it depends” isn't what you want to hear, but it's the best way to answer the question. Every cyclist, bike, and situation is unique. Your insurance coverage should reflect that. It's important for you to evaluate your individual needs and your personal level of comfort when it comes to risk. From there, you can start to look at coverage options and policy limits. If you need help, feel free to contact one of our specialists at 855-422-5945. Remember, Markel is all about specializing and never generalizing. As such, we'd never give you a “general” recommendation. That just wouldn't be right.
  • Do you offer coverage for my car rack?
    Sorry. There is no coverage for your car rack on our bicycle insurance policies. However, check with your car insurance company, as coverage is usually provided there.
  • How much would it cost, on average, to insure my bicycle for a year?
    There's no such thing as an “average cyclist.” So it's hard to say what an “average cost” for insurance would be. As we've mentioned before, every cyclist and bicycle is unique. The coverages you select, the type of bike you purchase, and how you ride are just a few of the many factors that determine the cost of insurance. However, in just a few minutes you can find out exactly how much it would cost to insure your bicycle for a year. All you have to do is complete a bicycle quote online or call one of our insurance specialists at 855-422-5945. It's that easy.
  • Am I covered while riding in a race?
    Yes. There is no racing exclusion, so any coverages (bicycle physical damage coverage, bicycle liability coverage, medical payment coverage, and vehicle contact protection) purchased on your Markel bicycle insurance policy are in full force while you're competing in an event. Good luck on the course!
  • What happens if I am hit by a car while riding my bike?
    The fact is there are dangers when motor vehicles and cycles share the road. That's why we offer medical payments and vehicle contact protection. They provide coverage for you as the rider of the insured bicycle. Click here to learn more.
  • Where am I covered? Are cross-country bicycle trips allowed, or is it only in my state?
    Taking your bike across the country is one of the most alluring parts of riding. That's why our policies automatically allow you to ride in all 50 states (Alaska and Hawaii included). We even throw in Canada. You also have coverage for your bicycle while it's in transit (by land/air) to and from a location within the United States and Canada. You also have the option to extend your bicycle physical damage coverage worldwide by purchasing our optional worldwide physical damage coverage extension.
  • Is the bicycle I rent covered by my insurance?
    With Markel’s bicycle physical damage coverage, we provide reimbursement for your bike rental if your insured bicycle is sidelined due to a covered loss or breakdown while you are participating in an organized or competitive event more than 50 miles away from home. Should that happen, we'll provide the same coverage to your temporary/substitute bike that you have on the insured bicycle. (The temporary/substitute may not be owned by you and must be used with the permission of the owner.) Sorry, we do not provide coverage for renting a bicycle on your family vacations.
  • How do I file a claim?
    We make filing a claim as easy and quick as possible. If you do have an accident, you can submit your claim online or call us at 855-422-5945.
  • Can I pay online?
    Absolutely, just click here. From there, you can decide if you want to make a payment with a credit card, debit card, or through your checking account. You can decide if you want to make a one-time payment, or set up automatic recurring payments so you never miss a payment.
  • Is Markel a financially sound company?
    Yes. Markel Corporation (NYSE – MKL) is a holding company for insurance and investment operations around the world. Headquartered in Richmond, Virginia and founded in 1930, Markel is organized around five insurance segments offering unique solutions for standard and hard-to-place risk challenges.. Insurance divisions include Markel Global, Markel Specialty, Markel Wholesale, Markel International (including Syndicate 3000, Markel International Insurance Company Limited, and Markel Resseguradora do Brasil S.A.), and Markel Re. Markel Ventures, a subsidiary that makes strategic investments in companies outside of the insurance marketplace, is another important component of our business. Markel is listed on the NYSE and trades under the ticker symbol “MKL.”

    In each of our businesses, we seek to deliver innovative products and responsive customer service so that we can be a market leader. Our time horizon is long-term, our underwriting approach is disciplined, and our focus is on continuously improving the quality of the customer experience. Our financial goals are to earn consistent underwriting and operating profits and to combine those profits with superior investment returns to build shareholder value. Independent rating agencies provide detailed reviews of operating results, capital and risk ratios, reserves and other financial results for Markel. Click here for details.
  • Do you have a sample policy?
    Yes. Click here to see a sample.
Insurance policies are sold through Marsh & McLennan Insurance Agency LLC (Producer License Number CA #0H18131) and Marsh & McLennan Agency LLC (NPN#12773845 and Producer License Number NY #PC-1111237) 7225 Northland Drive N, Ste. 300, Minneapolis, MN 55428. Coverage is provided by Markel American Insurance Company, Glen Allen, VA and underwritten by Markel Service, Inc.

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