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Bicycle Broker Specializes in Insurance for the Cycling Community

Jul 6, 2021
by BicycleBroker  
Views: 614    Faves: 4    Comments: 0



PRESS RELEASE: Bicycle Broker

Getting a bike stolen sucks. It doesn’t matter if it's the MTB you spent your life savings on or the commuter you ride to work everyday. When you go to grab your bike, and it’s not there, you experience all the stages of grief and loss at the same time.

If only there was someone that had your back, with insurance policies tailored to the unique needs of cyclists.




Introducing, Bicycle Broker.

We are a rider-owned, Vancouver-based, insurance service that specializes in serving the cycling community.

The founders of Bicycle Broker have worked with top professionals in the cycling industry for years. They first specialized in unique travel and medical coverage that met the needs of athletes.

Then they realized there was another problem. There were few viable options to insure a bicycle. Most of the existing insurance policies included bikes under a home insurance policy. Which is ok but, there were lots of exclusions: no coverage for high value bikes, claims denied for bikes stolen while in use or away from the insured residence, etc..

To fix this problem the team at Bicycle Broker went to work designing a comprehensive insurance solution specifically for cyclists. Their initial service offering includes 3 main policies that cover your bike, your home, and your body.

1) Unique theft & Damage for your bike(s) - bicyclebroker.ca
- Coverage for any and all bikes - MTBs ,E-bikes, custom/handmade builds and even second hand bikes.
- Damage coverage - Bicycle Broker's Specialist Bike Coverage allows policyholders to file claims for damage to their bike that occurred while riding. If damages are not first covered under warranty, then a claim can be made. **Does NOT cover normal wear and tear.
- NO existing insurance required
- Claims do NOT affect your existing property insurance history
- Low deductibles, starting at $250.

Rates for the average $3,000 CAD mountain bike start at $15/month with a $250 deductible.

2) Review your home, condo or renters insurance for improved sports equipment coverage and competitive rates. bicyclebroker.ca/homecoverage


3) Travel, Disability and Life insurance options that do not exclude amateur or professional mountain biking pursuits. bicyclebroker.ca/illnessdisability

Bicycle Broker is the choice of riders like Matt Macduff





Check out what other cyclists are saying about Bicycle Broker.







26 Comments

  • 6 0
 How about a bike GPS tracker? Something like tile could fit underneath the seat, inside the down tube, or handlebars. Then you can just go to the house/property and steal it back... Maybe atleast then the cops or RCMP would get involved for once.
  • 5 0
 @islandforlife: YES! Big fans of SNIK and how products like this will aid bike recovery, along with registering your bike with Project529.
  • 1 0
 Why don't you use Tile then? I've thought about it. If anybody makes a bike specific it will just cost more. There's a guy on reddit who 3D prints a piece you can put the Apple Airtag in and it bolts between your bike frame and bottle cage. Pretty cool.
  • 1 0
 Apple airtag. hide it your bike somewhere. one year battery life. almost a billion apple devices to help aid in your recovery.
  • 4 0
 Good that they offer the unique travel and medical coverage for athletes.

But, I've had various home insurance from a few different big names like BCAA, TD and now Square One and they all offer significantly cheaper bike insurance while covering just as much if not more.

My current policy with Square One covers bikes up to $3000 with no additional fees. I added $17,000 of specific bike and sporting goods insurance that covers my families bikes, snowboards, skis and other sports equipment... and costs me $4.00 a month (less if you insure for less and my deductible is just $500.

There are basically no limitations... bike breaks while riding, stolen from anywhere, etc. I asked a ton of questions and they basically don't care what happens to it, they'll just give you the cash for a new one. All I had to do is upload my invoice.

And Square One has been great to deal with. Just had a finished basement flood a couple months ago... and they took care of everything perfectly, zero issues.
  • 5 0
 Options are great and we're here to give more. Not every cyclist here BC is applicable for the type of coverage you've mentioned with an online tenants or condo policy. Those who have 3+ roommates, minors, homeowners, van-lifers, and more. We want to offer a coverage option regardless of your living situation.
  • 1 0
 @BicycleBroker: Oh ya for sure... I meant to clarify (wish I could edit comments on PinkBike!) that your coverage would be great for those that don't qualify for the typical home owner insurance coverage... which is a lot of people! Options are great!!

On another note... don't need it this year, but for next years race season, do you offer race bike insurance coverage? (covers damage to a bike during a race) In the past I've purchased my policy through CyclingBC's partner program with a local broker, but would be interested in what you might have to offer.
  • 1 0
 @islandforlife With SquareOne, you can send your bike receipt and have it listed on your policy for over $3000 at no extra cost. For example, I have $12,000 coverage in Sporting Equipment and one bike covered for $7,000. My other sporting equipment is limited to $3,000.

EDIT: "Specialty Property Listing - For any of the items described below, the maximum payable in the Policy Wordings is hereby waived."
  • 1 0
 @Loche: Are you sure about that? I have the exact same thing, but to get my bike listed under that section it costs me $4 a month.
  • 1 0
 @islandforlife: 100%

email: info@bicyclebroker.ca with subject "Competition bike coverage" and we'll hook you up. Thank you.
  • 1 0
 @islandforlife: Well I'm not paying extra for this...
  • 1 0
 this is a great looking option. one thing i don't understand is the limit on class 1 eebs. why is there a 500w limit? i'm awaiting a Marin Alpine Trail E2 which should arrive later this month. it has a 630wh battery. so is this bike not insurable? i'm interested in a policy that insures all my bikes including this one when it arrives.
  • 1 0
 Hi James. We can find a personal property policy option to endorse your new E-bike with 500+ watts by reviewing your principal residence. Please complete the appropriate form here - bicyclebroker.ca/homecoverage
  • 2 1
 We are pleased to see several new GPS bike tracking solutions coming to market this year from local startups. Our founder also got out on a ride with the infamous Trail Mole the day after recovering his bike.
  • 1 0
 Liability coverage is difficult for small trail building companies. I am currently stalled & can't work because mine expired & my broker is having difficulty finding a new underwriter.
  • 2 0
 We can help with this. We currently work with athletes and trail builders on projects across BC. Here is the form to submit your business info for a Liability quote. $5million standard and up to $10million available upon request.

bicyclebroker.ca/forms/commercial-liability-quote-request-form-bbcl

Happy trails!
  • 1 0
 With the increase of electronic parts this should tap into that for power? My Di2 battery only needs charging a few times a year as it is so this would not impact that too much.
  • 2 0
 Sick to see this getting out there! We trust Bicycle Broker to protect us, and the experience has been great so far.
  • 2 1
 I guess you didn't hear about Trail Mole getting his bike back on the Downtown Eastside.
  • 1 1
 3000$ is the max for bike coverage?? Wtf it cover my wheelset and my fork...
  • 1 0
 There is no limit on bike value. We do standalone policies for bikes as well as comparing coverage options with home/condo/tenants insurance providers. $3,000 is what most traditional policies have as a max, example - Square One. We want to give options for full replacement value.
  • 2 0
 Most insurance companies offer that coverage for free (in addition to home insurance). You're not buying home insurance from them so that's their basic entry level cost. They'll cover whatever you need, but the cost goes up. For example, I have home insurance through Square One and I added $17,000 worth of bike and sporting equipment insurance that adds an additional $4 a month to my costs.
  • 1 0
 @islandforlife: that's it only 4$/month extra for that amount? Bcaa is ripping me off.
  • 2 0
 @ybsurf: Yep, I was on BCAA before Square One until BCAA kept increasing my premiums every year. Now my home insurance premiums are way lower and bike insurance is cheaper as well. Think I was paying $8 a month for something like $13,000-ish? Plus I think the deductible was more with BCAA. Check out Square One online... you can get a pretty comprehensive quote just with their online calculator.
  • 1 0
 @islandforlife: thanks I'll look into it.





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