Cyclists sitting on "compensation time-bomb"

Thursday, 11 September 2008 12:00

An insurer has warned cycling commuters they are sitting on a "compensation time-bomb" as fewer than two per cent of the UK's five million cyclists have third-party insurance.

In London alone, commuting to work by bike has risen by 83 per cent since 2000 but this has coincided with an increase in accidents between cyclists and pedestrians.

In the event of an accident, the injured party could make a claim for compensation for hundreds of thousands of pounds.

James Pickering, managing director of Cycleguard, said: "Most cyclists don't give third-party insurance any thought.

"Cycling is safe and healthy, but it's dangerous to ignore the threat of legal action in the event of an accident. Although some household insurance policies offer a degree of third-party cover, many exclude road traffic accidents."

A spokesperson from the Institute of Advanced Cyclists said: "There's a lot of debate about whether or not it should be a legal requirement for cyclists to have some form of third-party insurance. Certainly it is a lot more responsible as well as more reassuring to know you have some insurance protection when you get on your bike."

Cycleguard also advises cyclists to consider taking out personal liability insurance to help with legal fees for compensation claims of their own in the event they are injured by a third-party and protect the individual from any counter-claim.

Mr Pickering added: "You wouldn't dream of getting in a car without some sort of insurance in case you get badly injured, so why people think this is any different for cyclists is beyond me."

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