Smart tips on how to keep your bike secure and insured
Insurance ・ 15.04.2025
When the sun starts shining and cycling season kicks off, it’s not just riders hitting the streets – bike thieves are on the move too. Raivo Piibor, Head of Coop Kindlustusmaakler, shares practical advice on how to protect your bike and what kind of insurance actually helps if things go wrong.
Although your backyard, garage, or stairwell might seem like a safe place to store your bike, both experience and statistics show that they don’t guarantee full protection. In recent years, thousands of bicycle thefts have been registered in Estonia. In 2022 alone, 1,110 bikes or other light vehicles were reported stolen!
First line of defense: a solid lock and some good photos
According to the police, the quality of the lock is one of the most important security factors to ensure that your bike doesn’t get stolen. It’s recommended to use a lock that cannot be easily cut or broken. The lock should be attached to the bike’s frame and rear wheel.
It’s also wise to take pictures of your bike showing any distinguishing features and the frame number. This can help identify the bike in case of theft.
Home insurance helps in case of major loss
From the insurer’s perspective, choosing the most suitable insurance solution is equally important. Home insurance is popular among Estonians and, when it includes coverage for household property, it can also cover bike theft. However, it’s essential that the insurance also covers the location where the bike is stored — for example, a locked shed, garage, or storage room.
There are also options to extend home insurance with coverage for locked bikes stolen from public places like schools or shops.
If the bike was left unlocked or in a visible location without additional security, i.e. the owner didn’t take proper care to protect it, the insurer may deny the claim.
Typically, home insurance policies limit the compensation for bicycle theft up to €1,000. The deductible is usually around €200.
Purchase insurance helps cover damage to newer bikes
If the bike was bought within six months prior to the incident, purchase insurance can also be used, which comes with a much lower deductible. Coop Pank’s purchase insurance automatically applies to all durable goods purchased with a Coop Pank debit or credit card, as long as the item costs between €100 and €2,500. This also includes bicycles. The deductible is only €30, and the coverage is valid for six months from the date of purchase. This insurance is free for Coop Pank’s private cardholders.
For more expensive bikes, separate insurance is recommended
Cycling enthusiasts, including amateur athletes, who ride more expensive bikes should also consider getting separate bicycle insurance. This type of coverage is often referred to as bicycle insurance or bike casco. It provides protection against theft, damage, and various unexpected incidents.
It only takes a few simple steps to protect your bike and choosing the right insurance is one of them.