What are the key terms I need to know about for insurance?

🏠 What Counts as Your Home Address?

Your “Home” is your primary residence, and includes several types of secure storage:

A house/flat

A communal area in your building if access is restricted to residents

A garage or outbuilding (must be locked with a high-standard padlock or mortice lock)

A wooden or metal shed, if it’s on your property and securely locked

A secure bike hanger (must be within 1 mile of your home)

A hotel or temporary accommodation—for up to 90 days, if it’s secure and lockable

🔐 How Should I Lock My Bike?

To be covered, you must lock your bike through the frame and all quick-release wheels to an Immovable Object, using an Approved Lock. Here's what that means:

For bikes worth under £1,000: use a Sold Secure Silver lock

For bikes worth £1,000 or more: use a Sold Secure Gold lock

Lock the main frame and any quick release wheels—just locking the wheel isn’t enough

Take and keep a photo of the lock and key, and the remains if stolen

Don’t use accessory cables alone—they aren’t rated

📸 Tip: snap photos of your bike, lock, and serial number when you sign up.

🛠️ Am I Protected Against Damage?

Yes—if your bike is maliciously damaged during an attempted theft, you’re covered. The insurer can either:

Repair the damage

Replace the damaged components

Or replace the whole bike if it’s a total loss

🛑 Note: Wear and tear, accidental damage, or unknown causes aren’t covered

🔋 Does the Tracker Need to Be Charged?

Yes. For coverage to apply:

Your GPS tracker must be covertly installed

It must be active and using a supported network (2G/4G/NB-IoT)

The backup battery must be at 20% or more at the time BackPedal accesses it

💡 A flat tracker = no coverage.

🔁 Is It “New for Old”?

Yes, if your bike was new when you bought it.

You’ll be offered a like-for-like new replacement if the claim is approved

If the bike was used or second-hand, you’ll be paid out based on:

Depreciated Value (20% after year 1, +10% year 2, +5% per year after), or

Market Value, whichever is higher

🔒 What Standard Lock Do I Need?

Bike Value

Lock Required

Under £1,000

Sold Secure Silver

£1,000 and over

Sold Secure Gold

If you don’t use the correct lock, your claim can be rejected—even if the bike was stolen from your own property

🧩 Are Accessories Covered?

Yes—but only if they’re stolen with the bike or damaged during an attempted theft.

Covered accessories include:

GPS computers

Lights

Travel boxes

✅ Accessories must be included in your benefit limite and fitted to the bike to be covered

🚴 Can I Use My Bike for Delivery or Courier Work?

No. The policy excludes any use for hire, delivery, courier work, or carrying passengers. If you rely on your bike for work, this policy won’t apply.

👨‍👩‍👧 Can My Family Use My Insured Bike?

Yes—immediate family members over 16 can use the bike and still be covered. This includes:

Children

Parents

Spouses

Life partners

Siblings

Everyone must live at the same address listed on your policy

📝 Summary Table

Topic

Key Requirement

Home address

Secure home, shed, garage, or approved temporary lodging

Locking

Frame + quick release wheels to immovable object using Approved Lock

Damage cover

Theft-related damage only (not wear or accidents)

Tracker requirement

Covert + active + 20% battery minimum

Replacement basis

New-for-old (if bought new), else depreciated/market value

Lock type

Sold Secure Silver (<£1k) or Gold (≥£1k)

Accessories

Covered if fixed to bike and declared in policy

Delivery/courier use

Not covered

Family usage

Covered if 16+ and living at your home

Still unsure about anything? Get in touch with our team or read the full terms here.