Oyster Insurance Offer

Bike coverage under a homeowners or renters policy is typically very limited and very restrictive. For example, homeowners and renters insurance usually have very low limits (e.g. $500), meaning that you are only partially covered for any bike above this price. Deductibles are also often high for homeowners and renters insurance, and should you need to file a claim against your policy, there is a risk that your homeowner insurance rates increase. In addition, most homeowners or renters policies don’t normally provide coverage for damage while riding your bike, especially if you race it, and theft coverage is often limited.

Oyster’s bicycle policy is built specifically for you and your bike, offering full replacement value and most important coverages, all with flexible deductibles. Plus, coverage through Oyster means your homeowners or renters insurance rates won’t increase if you need to file a claim.

There is no real “average” policy as many factors affect the price of insurance e.g. type of bike, price of the bike, how you use it, etc. That being said, insurance is a small price to pay to make sure you are protected should the unthinkable happen and you crash your bike, or it’s stolen whilst you’re out and about. It takes less than 2 minutes to get a quote for a policy with Oyster, so that’s the best way to find out exactly how much insurance will cost you.

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. If you need help, Oyster is glad to assist!

We recommend purchasing insurance as soon as the bike is in your possession. Oyster will provide continuous coverage starting at the moment you purchase your new bike.

The Oyster bicycle policy includes, but is not limited to protection for theft, crash damage, and loss from third parties. Oyster also offers additional, optional coverage for worldwide protection, medical payments, and liability.

A deductible is the amount that will be subtracted from any future claims payout (i.e. it is your contribution to the payout of the claim). In general, a lower deductible means a higher monthly premium, and vice versa.

Oyster only needs a few pieces of information to get the claim started. These include some basic contact information (if they don’t already have it) and your policy number. They will also need some information about the incident, such as the date you became aware of the issue, the item involved, and a brief description of the circumstances. This is all they’ll need to get the ball rolling with your claim. While they may require additional information during the process, our claims team will keep you informed if anything else is needed. Additional information could include photos of the item (e.g. if damaged), appraisals, purchase receipts, or a police report in a theft case.