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Open Project – Cycling Claims 2021


Bicycle sales continued to boom in 2021 with the Bicycle Association reporting 52% increase in sales compared with pre-pandemic times. As the market continues to grow so does the need for bike insurance. Our Open Project turns 4 this year, providing you with a glance at Bikmo’s cycling claim 2021 data.

Claims grew by 8% and we protected more of the world’s riders, continuing our purpose to deliver exceptional insurance and experiences to you. 

Take a look at our claims breakdown below and if you’re still on the fence about how our cycle insurance can help you, take a look at our benefits.

Home and Away Claims

We’ve seen a rising trend in claims being made for bikes at home. Home claims represented 10% in 2019, rose to 18% in 2020, and now sits at a quarter of our claims. Bikes are still clearly more at risk when away from home and with home burglary statistics the lowest they’ve been in the last two decades, our data may be somewhat of an anomaly. 

Types of Claim

Theft claims are on the rise at Bikmo but accidental damage still remains a significant reason why cycle insurance is important to riders. 

This year has been particularly challenging as we’ve declined three times as many claims for theft than accidental damage predominantly due to our locking requirements not being met. This includes using a non-Sold Secure lock (think £5 Amazon lock that can be easily cut through), or locking through a quick release wheel rather than the frame. 

We’re continuing to increase awareness and remind riders of our locking requirements.


Over 50% of our claim payouts were for bikes and gear under £500. Over a quarter of our claims were for bikes and gear over £1,000. Two vastly different categories of cyclists, from those who want to stay protected to and from work to riders that have eyes set on their local KOM. We’re here to protect all riders whichever way they wish to ride.

Did you know? You can insure a bike worth under £500 for just £5.10/mo with Bikmo. That’s cheaper than when UK Netflix launched back in 2012…

Items replaced during claims

So what exactly are people claiming for? It’s not just bikes that are covered. Infact, 40% of claimants in 2021 claimed for components, clothing and accessories rather than their full bike. We often forget that components, clothing and accessories add up in value. 

This split of claim items is almost identical to 2020’s Open Project data, despite the changes in home vs away and discipline breakdowns.

claims 2021

Claims split between cycling disciplines

The majority of claims came from road cycling and commuting. Commuting (including ebikes) were up significantly from 2020’s data, showing more people are returning to offices or have chosen to find a more environmentally friendly way of getting to work. 

The consumer interest in eBikes is continuing to grow and following our price reduction on e-bike policies, it’s no surprise that they now represent 10% of all our claims, up from 6.6% in 2020.

claims 2021

Month by month claims

In 2021, we saw a steady start with an increase to claims made in May that maintained through to November. This is fairly typical of what we’d class as the cycling season where more riders get outside when the weather warms. 2020’s data bucked the trend with lower claim volumes in the first half of the year.

claims 2021

Our Open Project 2022 claim expectations

The continued growth of e-bikes will no doubt mean we see the ratio between them and standard bikes become narrower each year. As we as riders now also feel confident in riding across continents and joining our clubmates in Mallorca training camps, we also expect that gap between home and away to widen.

The cycling landscape is forever changing and so is our claim data. But one thing remains; Bikmo’s mission to protect riders and get them back up and running if the worst ever happens.