Open Project – Claims 2020

When you take out any cycle insurance policy, you are paying for an important promise from the insurer – to help you out in case you need to make any claims. As a minimum, our objective at Bikmo is to always to put you back in the same place as before any incident – up to the total value of the cover you have in place. We lay out the terms of this promise as clearly as possible in our Policy Wording.

As an insured customer, normally you wouldn’t see any details about claims beyond your own, if you make one. For us, that doesn’t make sense – if you are paying for that ‘promise’ as a Bikmo customer, we think you have the right to know a little more about our track record.

As a part of our Open Project, we’ve compiled a series of infographics and datasets to give you an insight into Bikmo’s insurance claims for the full year of 2020. 

Type of claims

Most people associate bike insurance with cover against theft, but it is actually more likely the reason for a claim is due to accidental damage – this could be anything from a smashed GPS Computer, to a fracture in a bike’s carbon frame.

Types of claims

Items replaced during claims

24.18% of claim settlements resulted in the customer getting a full new bike replacement, and 35.97% also involved replacing individual components, accessories or cycle clothing. Claiming for all of these items can sometimes add up to more value than the full bike itself.

Items replaced during claims

Where incidents take place

As with expensive items stored within your home, there is always a chance of theft. However, with 81.68% of claim incidents occurring away from the home, this is clearly when your bikes are most at risk. This is one of the reasons we ask you for ‘at home’ and ‘away from home’ values when getting a quote with Bikmo.

Claims Incidents take place

Successful claims

98.07% of all Bikmo claims received were approved! 1.93% were not, but this figure includes rejected, withdrawn, and invalid claims.

Successful Claims

What we pay out in claims

There are some expensive bikes and kits out there, and with n+1 syndrome common for a lot of cyclists, the value of a claim through cycle insurance can really soar. In 2020, they ranged from £5 to £11,700! 

Average payout per claim

When people are claiming

Summer and Autumn are our busiest times for claims, simply because more miles are ridden by our customers. In the busiest months, we will settle over £100,000 worth of claims for our customers.

What time of year people claimed

What people are claiming for

Claims made by customers came from varying cycling disciplines. All types of cyclists had unfortunate incidents, whether it was commuters, mountain bikers or all-out road riders.

Types of discipline for peoples claims

Our customer experience team is full of bike enthusiasts and they’ll settle your claim as fast as possible so you’re back on your bike in no time. If you have a problem with your bike, or have any questions about insurance, you can contact the team – via email at or over the phone on 01244 470337. You can also fill in our no-frills contact us form, and we’ll get back to you shortly.

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