Bicycle shop insurance
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Rated 4.7/5
Based on 39,376 reviews
Claims paid in 24 hours
For 80% of settled claims
Why is bike shop insurance important?
Insurance for bike businesses can go much further than shop floor accidents, or stolen stock. Third party injuries and theft are primary risks for the bike industry, but damage to the building you trade in, legal claims, and employee disputes can cost, too. Compare cycle shop insurance options from brands who know the risks inside-out.
- cycle shop insurance, UK-based claims support open 24/7
- stock, accident, and employee cover – you choose what you need
- public and product liability insurance between up to £5 million
What does bicycle shop insurance cover?
Typically, we’ll start with public and product liability insurance, built to cover bike shop businesses against accidents and injuries caused by your work or products. Most quotes also build in cover for your specialist equipment and stock, plus your employees. You can add specific cover for legal support, personal accidents, and insurance for your business building, depending on your set-up and situation.
Public liability insurance for cycle shops
In case you or your employee injure someone or damage their property.
Employers’ liability insurance
In case anyone gets ill or injured while working for your bike shop.
Business and office equipment insurance
In case something happens to equipment like a display screen, or phone.
Stock insurance
In case your bikes and other products are lost, stolen, or damaged.
Legal expenses insurance
In case you’re faced with legal costs while running your bike business.
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at or outside of work.
Building insurance
In case something happens to your business or shop premises.
Public liability insurance for cycle shops
In case you or your employee injure someone or damage their property.
What’s typically covered by public liability insurance?
Claims against your business for:
- damage to someone’s property, caused by your bicycle shop
- an injury or illness caused by your business activities or products
- accidental damage or injuries caused by your employees
For example:
- a client breaks their knee in a slip-and-fall accident on your shop floor, and makes a claim against you
- you sell a bike to a client, but they claim a defective handlebar has caused two injuries
If you do employ anyone, you’re usually required by law to have employers’ liability insurance too.
Read more about public liability insurance
Employers’ liability insurance
In case anyone gets ill or injured while working for your bike shop.
What’s typically covered by employers’ liability insurance?
Claims against your business for:
- an injury or illness that happens as a result of working for you (including temps and casual workers)
**Employers’ liability insurance is required by law if you have people working for you. Without it, you could be fined up to £2,500 a day for each employee.**
For example:
- a crate of stock falls on an employee’s shoulder while they’re taking payment, causing a fracture
- your manager slips on the busy shop floor, injuring her lower back
Business and office equipment insurance
In case something happens to equipment like a display screen, or phone.
What’s typically covered by business and office equipment insurance?
- accidental damage to your fixtures and fittings, or the equipment you use to run your cycle shop
- theft, flood, and fire damage
For example:
- there’s a fire at your premises, and your smart steering blocks, bike stands and other equipment are damaged
Read more about business and office equipment insurance
Stock insurance
In case your bikes and other products are lost, stolen, or damaged.
What’s typically covered by stock insurance?
- loss, damage, or theft of the essentials you keep in stock, like your bikes and accessories
For example:
- you’ve just had six new bikes delivered to your shop, and they’re stolen while you’re speaking to a neighbouring business
- an order of helmets and other accessories falls from the back of your van, and is never recovered
Read more about stock insurance
Legal expenses insurance
In case you’re faced with legal costs while running your bike business.
What’s typically covered by legal expenses insurance?
- legal costs that you’re responsible for, within your bicycle business
- property damage, nuisance, or trespass – specifically, the associated legal claims and compensation payouts
- tax and compliance disputes and investigations you need help with
- access to expert advice – including a tax advice phone line, confidential 24/7 legal phone line, and crisis PR support to help you protect your reputation as a popular bike shop
For example:
- your employees haven’t been classified correctly, and you incur legal costs while addressing the issue
- a large bike brand sues you for defamation on your social media platforms, and you need to recover legal costs
Read more about legal expenses insurance
Personal accident insurance
In case anyone you’ve covered is accidentally injured, at or outside of work.
What’s typically covered by personal accident insurance?
- accidental injury or death of anyone you’ve chosen to cover in your policy – whether this happens at work or elsewhere
- lost income, hospital bills, or other medical costs associated with the accident
For example:
- you’re in a cycling accident on your way to the shop, fracturing your knee
- your employee (who you’ve covered on the policy) breaks her leg while rock climbing at the weekend
Read more about personal accident insurance
Building insurance
In case something happens to your business or shop premises.
What’s typically covered by building insurance?
- the cost of repairing damage to the structure of your building (or rebuilding it from scratch)
- damage to fixtures and fittings
- damage to underground pipes and cables you’re responsible for
For example:
- you need to replace your shop’s non-slip rubber flooring, after damage caused during a refurb
- someone vandalises and graffitis your shop windows, and you need to make repair works
What you’ll need additional cover for
- tenants’ improvements – changes to the property’s structure which you’ve organised and paid for yourself, like partition walls or wooden flooring
Read more about buildings insurance
This content has been created for general information purposes. Make sure you have the right level of business insurance by checking your policy documentation for details. Read our full Terms and Conditions
Insurance for bike shop businesses – how much does it cost?
Find out how much you’ll pay by comparing prices from a range of trusted insurers. You choose what goes into your policy, so you only pay for what you need.
Prices start from £6.56 per month
Get your quotes in 7 minutes – prices are guaranteed for 30 days.
Get your tailored quotes in 7 minutes
How we work out example prices We take the highest price from the bottom 10 per cent of all our customers paying in monthly instalments (based on data from 1 January - 31 August 2021). Most customers pay more than this but some pay less.
Example cycle shop insurance quotes, real prices
£40.67 /month
£361.47 /month
A small family run cycle shop located in a small retail space
- Less than 1 years' experience
- Limited company
- 2 employees
- Based in Manchester
Public liability
£2,000,000
Employers’ liability
£10,000,000
Contents & business equipment
Not included
£63.88 /month
£567.84 /month
A large cycle shop located on a busy high street
- 5+ years' experience
- Shop
- 3 employees
- Based in Watford
Public liability
£5,000,000
Employers’ liability
£10,000,000
Contents & business equipment
£15,000
How we work out example quotes These examples are real quotes from our online system (created 16/08/2021). They’re based on a range of factors, like employees and location. Your own quote will be based on what you tell us about your business. Prices may go up or down from day to day, so the prices you’re quoted may differ to the ones you see here.
What kind of excess should I expect?
An excess is an amount you pay towards any claim you make on your insurance. For example, if your excess is £250 and you make a claim worth £1000, your payout will be a maximum of £750.
| Insurance cover | Lowest excess | Highest excess |
|---|---|---|
| Main building | £200 | £4000 |
| Stock | £200 | £4000 |
| Contents | £200 | £4000 |
| Employers liability | No excess | No excess |
| Public liability | No excess | £750 |
| Product liability | No excess | No excess |
The figures above are for guidance only and any excess applying to your quote may differ. You’ll get a breakdown of the excesses for each quote when you compare with us.
How it works
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How do I choose insurance?
Making sure you have the right type and level of business insurance can be the difference between getting a claim paid and having to cover the cost of an expensive accident yourself. Read our tips for guidance on what to consider when buying a policy.
Which type of workers do I need insurance for?
Does cycle shop insurance cover my work correctly?
Do I need cover for other types of work?
Which public liability cover limit should I choose?
Which type of workers do I need insurance for?
Employers’ liability insurance is a legal requirement if you employ people.
If you have people working for you, including bona fide subcontractors (BFSC), labour-only subcontractors (LOSC), part-timers, or full-time staff, employers’ liability insurance is required by law.
Read on for our simplified guide to the difference between labour-only subcontractors and bona fide subcontractors.
Does cycle shop insurance cover my work correctly?
Make sure you're picking the right cover to protect you properly. It's important to know that if you have another trade or job, you'll need additional cover. For example, do you need to consider - Online retailer insurance or - Off licence insurance?
Do I need cover for other types of work?
If you provide other services, make sure you’re covered:
Other types of insurance
Which public liability cover limit should I choose?
Think about the maximum possible loss your business could face in the event of a claim, and make sure you take legal fees and damages into consideration. You can choose from three levels of coverage – £1 million, £2 million, or up to £5 million.
Talk to an expert
Our team of UK-based insurance experts are here to help, Mon 09.00am - 05.30pm, Tues 09.00am - 05.30pm, Weds 09.00am - 05.30pm, Thurs 09.30am - 05.30pm, Fri 09.00am - 05.30pm, Sat 09.00am - 02.00pm
Call our team
How do claims work?
Unlike price comparison websites, we take the hassle out of claims for you. We know how important it is to get your business back on track quickly – and with a minimum of fuss. That’s why you get access to your dedicated claims any time, day or night. Call them on 0333 207 0560 or claim online. They’ll do their best to be fair and supportive. The figure below is rounded across our range of products. Our claims process may vary for different products and operates on a ‘claim by claim’ basis.
£28 million in claims paid out in 2021
Paying 80% of settled claims within 24 hours in 2021
Example claim
Having bike shop insurance through Simply Business has saved professionals thousands of pounds when the unexpected happened.
Alexandra saved more than £23,000
Alexandra (not her real name) opened her cycle shop for the day, and found the skylight broken with four new bikes, as well as three customer-owned bikes, stolen. The optional stock cover added to Alexandra’s bike shop insurance policy helped cover the replacement costs.
Insurance payout
£23,879.66
Covering the cost of theft
Alexandra’s costs
£100
The excess amount stated in Alexandra’s policy terms
Chosen by 800,000 small businesses and landlords
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Cycle shop insurance FAQ
Whether you’re new to buying business insurance or you’ve been trading for a while, here are the answers to some commonly asked questions about bicycle shop insurance. You can also check out our business insurance FAQs.
This depends on your shop, and which insurer is providing your cover. Prices start from £6.56 a month for our bicycle shop customers – we work this out by taking the highest price from the bottom 10 per cent of all our customers paying in monthly instalments (based on data from 1 January - 31 August 2021). Most customers pay more than this but some pay less.
Public and product liability insurance is often an important cover for shops – it’s designed to protect you if someone is injured or suffers an illness, or their property is damaged, because of your retail business.
Are you hiring staff? If so, you’re usually required by law to take out employer’s liability insurance, even if it’s for a temporary team member, or seasonal staff. You’ll face fines of up to £2,500 a day for anyone you haven’t covered correctly.
From there, you can pick and choose from other specific protection for your shop’s stock, equipment, fixtures and fittings, and the building(s) you use. Our shop insurance quotes are flexible – you can bundle everything into one policy or go for just one or two covers, depending on what you need.
You can choose the payment type that suits your business and cash flow best. Some customers prefer to pay in one go, while others prefer to pay a regular monthly amount, like you do with lots of other bills. Simply Business offer three ways to pay for your policy:
- one-off credit or debit card payment
- BACS payment
- Direct Debit
If you choose to pay by Direct Debit, our credit provider, Premium Credit, pays Simply Business the full amount for your policy up front. You then repay Premium Credit in 10 monthly instalments.
This will depend on whether you have employers’ liability insurance in place. Public liability insurance is designed to protect your business against the consequences of legal action brought by members of the public for injuries or damage to their belongings. But when it comes to your employees causing injury or damage, this protection only activates if you also have employers’ liability insurance.
If you employ people, you’re required by law to have employers’ liability insurance.
There’s one exception here. Family businesses that aren’t incorporated as a limited company are not legally required to have employers’ liability insurance. The government defines a “family business” as one where all your employees are closely related to you (as a spouse, civil partner, sibling, child, parent, grandparent, grandchild, step-parent, stepchild or half-sibling). So if you run an unincorporated family business and you choose not to get employers’ liability insurance, it’s important to know that your public liability insurance wouldn’t cover you against damage or injury caused by your team.
We create this content for general information purposes and it should not be taken as advice. Always check policy documentation for details and seek professional advice. Read our full Terms and Conditions
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