Apart from theft of the bicycle itself there is the distinct possibility of a theft of costly bicycle spare parts including drivetrain parts and spare wheel sets.
Many cyclists carry a variety of expensive bicycle spare parts with them to events and competitions and without a stand alone bicycle insurance policy these spare parts go un-insured by most other insurance policies.
Most thefts are theft of convenience. Poorly locked bikes or spare parts containers left in open view in unlocked cars or in cars with easy to find keys left in the gas cap or under a bumper. If you don’t take your keys with you on a ride you are inviting theft.
An auto policy doesn’t cover personal property like spare parts and the home or renters insurance deductibles are likely to high to bother with a theft claim for bicycle spare parts. A stand alone bicycle insurance policy that also covers spare parts is the best alternative to protect from a theft of your expensive parts.
Check the value of spare parts that you have at home or in your auto and decide whether it makes sense to purchase a bicycle insurance policy that also includes coverage for spare parts. Easy way to get a bicycle insurance quote.