Bicycle insurance policies won’t pay out in all circumstances. Common exclusions include:
Theft of a bicycle that hasn’t been properly secured or stored. Typically, insurers will only cover bicycles parked in public spaces if they’re secured with an industry-approved lock to an immovable object, like a bike rack, and only left there for a maximum of 12 to 24 hours. You’ll also generally have to store your bicycle when not in use in your home or a locked shed or garage. Bicycles left in communal areas, even behind locked doors, will need to be locked up. Specialist policies may stipulate the type and rating of lock you use, under the Sold Secure rating system.
Cosmetic damage to the bicycle, like scratches and dents, that don’t affect how it rides.
Theft of a bicycle you can’t prove you own. So keep a receipt and write down the serial number.
Damage and claims emerging from accidents that happen if you’re cycling under the influence of alcohol or drugs.