Insure that high-spec bicycle before the Cycle Tour

Tens of thousands of cyclists are set to descend on Cape Town on Sunday, 8 March 2026, for the annual Cape Town Cycle Tour.

This year’s Cycle Tour is one for the history books – joining the prestigious UCI Gran Fondo World Series, the world’s leading series of Gran Fondo cycling events, which features more than 35 races across the globe each year. Cycle Tour participants will now have the opportunity to qualify for the 2026 UCI Gran Fondo World Championships, set to take place from 26 to 30 August in Niseko, Japan.

These are not your average cyclists. Specialist bicycles and high-end equipment means that costs can rapidly outrun that of a small car!

Think I’m exaggerating?

How much is that bicycle, really? A solid entry-level road bike will set you back about R30,000, but a pro-spec machine such as the Pinarello Dogma F12 can climb past R500,000.

What about the rest of the toolkit? A top-end GPS smart watch with advanced training metrics can cost R20,000 or more.

Now add: A premium helmet, carbon wheelsets, cycling shoes, technical race kit and eyewear, and you can understand why cycling has become the sport of investment bankers.

The caution around insurance for high-end bicycles extends just as easily to specialist equipment for other sports – from surfboards to kayaks and golf clubs.

Marius Kemp, head of personal lines underwriting at Santam, recommends that cyclists ask their insurers specifically about portable/all-risk cover for items used away from home (training rides, events, coffee stops, races).

Some points to watch out for:

Specify high-value items and insure them at replacement value. If your carbon wheelset or GPS watch would hurt to replace, list it individually on the policy and make sure it is covered for what it would cost to buy again today.

Confirm cover for transit: Bikes get stolen from cars, damaged on roof racks or mishandled by airlines and couriers. Ask whether your policy covers theft and accidental damage while in transit, not only when you are riding.

Is it covered while in use? Naked Insurance points out that it’s important to check your equipment is covered while it’s being used. “It’s all good and well that your surfboard is covered as soon as you take it out the front door, but it doesn’t really help if it’s not covered while you’re catching a wave and it breaks in half,” Naked advises.

What about race day? Check out what the terms and conditions are when it comes to participating in races. If it’s not covered in the insurance policy you’re looking at, it’s generally quite easy to buy race cover separately when you need it, from the race organisers. Stuart Collins, compliance adviser at Harnacks Insurance Brokers, pointed out that many insurers don’t cover bicycles at all while they are being used for racing. “Every rider would be wise to notify their insurer that they will be taking part in the Cape Town Cycle Tour and confirm that they will in fact be covered,” he said.

Understand how claims are settled. Some policies pay replacement cost (what it costs to replace like for like), while others factor in depreciation. That difference matters when you are claiming for high-end gear.

Update valuations as you upgrade. New helmet, new wheels, fancy new watch? Tell your insurer. Your cover is only as current as your last email. DM