Bicycle Insurance Market Report 2026

The bicycle insurance market size has grown rapidly in recent years. It will grow from $76.41 billion in 2025 to $84.2 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to growth in urban cycling adoption, increasing bicycle ownership rates, rising incidents of theft and accidents, availability of standalone insurance products, expansion of recreational cycling.

The bicycle insurance market size is expected to see rapid growth in the next few years. It will grow to $123.78 billion in 2030 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to increasing adoption of electric bicycles, rising demand for flexible and short-term insurance plans, expansion of smart mobility ecosystems, growing focus on cyclist safety coverage, increasing integration with digital insurance platforms. Major trends in the forecast period include increasing demand for micro-mobility insurance products, rising adoption of digital policy distribution channels, expansion of theft and damage coverage options, growing focus on urban cycling risk protection, integration of usage-based insurance models.

The rising number of bicycle-related accidents is expected to drive the growth of the bicycle insurance market in the coming years. Bicycle-related accidents involve incidents in which cyclists are injured due to collisions or crashes and often occur because of factors such as inadequate cycling infrastructure, limited safety awareness, insufficient driver attentiveness, and distractions. Bicycle insurance supports cyclists by covering repair expenses, medical costs, and third-party liabilities arising from accidents, offering both financial protection and peace of mind. For example, in July 2025, according to the National Highway Traffic Safety Administration (NHTSA), a US-based government agency, there were 1,166 pedalcyclist fatalities in 2023, an increase from 1,117 in 2022, while an estimated 49,989 bicyclists were injured, up from 46,195 the previous year. Therefore, the growing incidence of bicycle-related accidents is contributing to the expansion of the bicycle insurance market.

Major companies operating in the bicycle insurance market are increasingly focusing on developing innovative insurance services to improve customer experience and address the specific coverage needs of cyclists. Innovative insurance services include customized and technology-enabled policies that provide flexible coverage options, faster claims processing, and tailored protection. For instance, in July 2024, Laka Ltd., a UK-based insurance provider, launched bicycle insurance services in France, offering comprehensive coverage designed for cyclists. The plan includes protection against theft, coverage for accidental damage, roadside assistance, and race and travel insurance. This launch represents a key step in Laka’s strategy to expand its footprint in the European cycling market while promoting green and sustainable mobility initiatives.

In September 2024, Laka Ltd., a UK-based bicycle insurance specialist, acquired the renewal rights of CoverCloud for an undisclosed amount. Through this acquisition, Laka strengthened its position as a leading bicycle insurer in the UK by providing CoverCloud’s existing customers access to its community-based insurance model and extending its presence across European markets. CoverCloud is a UK-based insurance company focused on delivering bicycle insurance solutions.

Major companies operating in the bicycle insurance market are Allianz SE, Progressive Corporation, Zurich Insurance Group Ltd, Chubb, Liberty Mutual Insurance, GEICO, Aviva Plc, Farmers Insurance Group, QBE Insurance Group Limited, Markel Group Inc., Suncorp Bank, Hiscox Ltd, Direct Line Insurance Group plc, HDFC Ergo General Insurance Company Limited, Admiral Group plc, Axa SA, Laka Ltd., Bikmo UK, Qover SA, BTA Baltic Insurance Company, AAS, Yellow Jersey LLP, Pedal Cover, Velosurance, Symbo Southasia Enterprises Pvt. Ltd.

North America was the largest region in the bicycle insurance market in 2025. The regions covered in the bicycle insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bicycle insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bicycle insurance market includes revenues earned by entities by theft coverage, roadside assistance, replacement cost coverage, injury coverage, and damage coverage. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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