We went all in. I bought a cargo bike for myself, a commuter for my wife, and two smaller e-bikes for the teenagers. Total investment: $14,000. I called my insurer to add them, and they wanted to charge me a separate policy fee for each bike, bringing the total to $200 a month. I knew there had to be a way to bundle this without going broke.
Key Takeaways
- Volume Discounts: Specialty insurers often offer a 10-15% discount if you insure multiple bikes on the same policy.
- Shared Deductibles: Some policies apply a single deductible if multiple bikes are stolen in one event (e.g., garage break-in), rather than a separate deductible for each bike.
- The “Teen Driver” Risk: If your teenager rides the bike to school, ensure the policy covers “permissive use” or family members. Some policies are named-insured only.
- Homeowners Endorsement Caps: Adding 4 bikes to a home policy usually hits the “Special Limits” cap (often $5,000 total for the category), leaving you underinsured.
The “Why” (The Per-Unit Fee)
Insurance has administrative costs. Writing 4 separate policies costs them 4x the paperwork.
“Premium is calculated per risk unit.”
You need a “Schedule” where all bikes are listed under one master policy number to avoid paying base fees four times.
The Investigation: Searching for the Bundle
I quoted a 4-bike fleet (Total Value $14k).
1. Progressive (Motorcycle Bundle)
- Quote: $180/month.
- Analysis: They treated each e-bike like a separate moped. No real bundling benefit. Too expensive.
2. Sundays Insurance
- Quote: $75/month.
- Analysis: They applied a multi-bike discount. The interface allowed me to add all 4 bikes easily. They also covered the kids riding them (family coverage).
3. Oyster
- Quote: $68/month.
- Analysis: Best price for the bundle. They allowed me to set different deductibles for the kids’ bikes (higher deductible to save money) vs. my expensive cargo bike (lower deductible).
Comparison Table
| Carrier | Multi-Bike Discount | Single Deductible for Bulk Theft? | Monthly Cost (Est) |
| Individual Policies | None | No (4x Deductibles) | $120+ |
| Homeowners Rider | N/A | Yes | $40 (But usually capped limits) |
| Oyster/Sundays | Yes (~15%) | Yes | $70 |
Step-by-Step Action Plan
- List All Serial Numbers: Create a master spreadsheet. Make, Model, Serial, Value, Accessories.
- Quote as a “Schedule”: When applying, look for the “Add another bike” button before checkout. Do not buy four separate policies.
- Adjust Deductibles: Set a higher deductible ($500) for the cheaper kids’ bikes, and a lower deductible ($200) for the $6k cargo bike. This helps balance the premium.
- Check “Permissive Use”: Verify that “household members” are automatically covered. You don’t want a denial because your son was riding your bike.
FAQ
Are my kids covered for liability?
If they hit a pedestrian? Yes, usually, if they are listed as household residents.
Does this cover their friends riding the bikes?
Often no. Permissive use is usually limited to family. If a neighbor kid crashes it, you might be out of luck.
[IMAGE: Screenshot of an insurance dashboard showing 4 bikes listed under one policy number]