According to the book Bicyling and the Law by Bob Mionske there is no bicycle insurance in the United States although it is available in the U.K. and other countries. If you are found at fault in an accident your home owners or renters insurance may cover the damages. In the case of an uninsured or underinsured motorist your car insurance or health care insurance would come into play. Although check the policy to make sure bikes are covered. The lack of available bicycle insurance in the U.S. is an unfortunate reflection of the car centric culture we live in.