While your bicycle may have some coverage under your homeowner's policy, there are usually restrictions on the value of the bicycle and the types of losses that would be covered. A specialized stand-alone bicycle policy helps protect against things that a homeowners policy typically doesn't cover such as theft away from home, coverage for your spare parts and cycling apparel and more. Plus, insuring your bike with a stand-alone insurance policy through Markel means your homeowners insurance rates may not increase if you have to file a claim.