The excitement of buying a brand-new bicycle can be overwhelming. Those endorphin-emitting thoughts of the first ride on the roads or through the hills. But as with any new bit of kit, there is always some element of anxiety. Should the worst happen on the roads and an accident happens, do you need to be covered? Does bicycle insurance work like car insurance where you can’t ride without it?
Whether you’re a complete newbie or professional cyclist, you may be wondering if bicycle insurance is something you need. Unfortunately, the risk that all sports players take is injury – we play the sports we love, but that element of risk is involved. But like with most homeowner insurance packages, playing sports isn’t covered – welcome bicycle insurance.
With this guide, we’ll take you through everything you need to know about bicycle insurance, whether you legally need it, what it could cover and the different types of insurance available to you.
When you think of other sports like golf, or even everyday things like cars, insurance around the board tends to be roughly the same – with minor tweaks depending on the needs. Bicycle insurance covers not only any damage to the bicycle but covers accidental damage and even theft.
With some insurance providers, most included as an add-on, you can have access to a wide variety of benefits. Whether it be personal injury, covering the cost of a lawsuit, or having your family covered – bicycle insurance is a sure-fire way to stay protected both on and off the road.
To put your mind at ease, bicycles aren’t like cars where you must have insurance to drive them. Legally, you’re not required to insure your bicycle. However, that does not mean you don’t want to.
Below is a list of reasons you may want to consider bicycle insurance, as they may impact the way that you use your bike.
One consideration that may affect you in deciding whether you need bicycle insurance or not is the value of your bicycle. If you’ve recently bought a performance bicycle, regardless of the type of bicycle it is, the chances are it wasn’t cheap.
With such an investment in your cycling, or family members cycling, you’re going to want to make sure that the money you’ve just spent doesn’t just go down the drain. Repairs can often be rather expensive when you don’t have insurance on your bicycle.
So, if you’ve spent a small fortune on a bicycle – think about protecting it with some insurance.
Most insurance packages, especially if you’re trying to claim your bicycle under home insurance, won’t cover you and your equipment if you’re using it for events and competitions.
If you’re entering an event, whether it is for road cycling, mountain biking or triathlons, you’ll want to consider opting in for some specialist bicycle competition insurance. The chances of getting into a crash or accidental damage to your bicycle are far more likely in high-pressure situations.
Make sure to compare competition packages via our website.
If you only ever use your bicycle a few days in the year, there isn’t much need for bicycle insurance. The chances are if you’re not going regularly, your bicycle isn’t a high-end top of specifications model.
However, if you use your bicycle to get to work, for fitness purposes or regularly go with family members, you’re going to need some insurance. The worst thing to happen on your daily commute is to get an injury and have your main mode of transportation out of action.
With an insurance package, you can get back on the roads the very next day.
Are you planning a journey abroad and want to take your bicycle with you? You’re going to want to take out some specialist insurance to keep your bike protected should it go missing or be damaged during the flight or whilst you’re abroad.
If you’re going to use your bike occasionally whilst on holiday, you can explore a range of non-specialist bicycle insurance policies, however, they won’t cover you if your holiday is specific to cycling.
Perhaps you live in an area where crime is high, you’re prone to injury when crashing, or you don’t trust your bike to handle heavy knocks.
In 2020, over 77,000 bicycles were stolen from homes and on the streets in the UK alone. The last thing you’ll want to do is wake up in the morning to find a bike lock with no bike attached.
It is always best to take out some insurance to protect you against theft, so you don’t need to worry about the expense of getting a new bike.
There is a whole heap of reasons why you may need to get your bicycle insured, especially if it came at a hefty price.
However, below are a few reasons why you may not need bicycle insurance.
It is a cheap or old bicycle
You don’t regularly ride it.
If you’re already covered under another insurance policy
At the end of the day, there is no reason why you shouldn’t insure your bicycle. Of course, it isn’t illegal to ride on the roads or use your bicycle at all without insurance. Plenty of people do it.
The problems come in if you start to use your bicycle more rigorously. If you’re entering competitions, investing in your bicycle, or are using it frequently, then you’re going to want to get some cover. The small added cost ensures you’re protected against theft, injury, damage, lawsuits, and family cover.
However, if you’re only the occasional rider that owns a cheap bicycle that you found at a second-hand store, the likelihood is that you’re not going to want insurance. It is a small added cost that covers things you may never need.