Bicycle insurance: Compare quotes for best cover on two wheels
Bicycle Insurance
The rising number of cyclists on Britain's roads has inevitably led to a rising number of bicycle thefts and accidents so it is no surprise a market for specialist bike insurance has emerged.
For a reasonable price you can insure your bike against all manner of events.
Most specialist bike insurance covers the following which apply to both the bicycle and, sometimes, the accessories:
- Third-party or public liability
– the costs of causing accidents to other road-users and their property
- Accidental damage
to your own bicycle following an accident or fire
- Hiring a replacement bicycle
if yours is stolen or damaged
- Roadside recovery
– to help you get home if you break down mid-journey
Many insurers who specialise in bicycle insurance provide policies for children, normally for teenagers under 15. Some provide cover for professional cyclists and those who race competitively in sports events or triathlons, and many provide provision for people who take their bikes abroad to Europe.
Reasons to have bicycle insurance
Many people will have cover for their bicycles under their home contents insurance policies, but some insurers do not include bikes in these policies. Should you have an accident, injure another person or damage their property while cycling, a bike insurance policy will cover the payments. It also covers your bike while you are abroad.
Bicycle insurance is particularly worth looking into if you have a very expensive bike or are a regular cyclist on busy roads or often leave it parked in public places.
How to buy bicycle insurance
Many of the big mainstream insurers will provide special cover purely for cyclists to insure their bikes.
However these often come with a number of exclusions – events which are not covered.
More comprehensive polices which can be tailored to suit your own needs or cover elements not in your home contents insurance are available from specialist bike insurers, of which there are a number.
You can find most of these online. For independent information the CTC – the UK's national cyclists' organisation – should be able to provide helpful tips.
Pitfalls
For bicycles over a certain age – often around three years – a deduction on claims will be made to account for wear and tear.
Many insurance companies will not pay up if you have failed to do all you can to secure your bicycle.
If a bike is stolen because you did not padlock it – the insurer will take a dim view. It's well worth buying all the anti-theft equipment available and marking your postcard on the bike with an ultra-violet pen to help police to recover it should it get stolen.