Regular cyclists spend a lot of time on their bikes. The likelihood is that they’ve invested a significant amount of money in their cycling equipment to help them be more lightweight, become more comfortable and gain an edge over the competition. Whilst the investment is certainly worth it – what if the worst happened?
After investing so much money into a bicycle, the last thing you want to do is crash at high speed or even crash at all. But there are so many ways that your bike can become damaged, that you need to make sure you’re always protected. In this case, we’re not talking about helmets and protective clothing, but bicycle insurance.
You wouldn’t buy a house without home insurance or drive a car without car insurance. After investing so much, the last thing you want to do is watch that investment go down in flames. That’s why on all these larger purchases you pay for insurance should anything bad happen. So, why not do the same for your bicycle?
In this guide, we’ll take you through what bicycle insurance is and why you need to sign up.
In recent years, there has been a surge in cyclists on the roads. With heightened anxiety present due to the Covid-19 pandemic that started in 2020, society’s reluctance to journey on public transport made the need for bicycles skyrocket in demand.
With such a surge in popularity, caused not only by the pandemic but also by growing concerns about the environment, we thought we’d give some information on how to make sure you stay protected on the roads without having to pay out for a whole new bicycle.
There is a whole range of policies on the internet that vary in the types of things that are covered. Essentially, bicycle insurance covers the cost of the entire bike should it be damaged from a crash or stolen from its location.
If you’re looking to get on the roads with a brand-new bicycle, or even have an existing one that you’re considering insuring so that you’re protected both on and off the roads, then take a look at the following options that insurance covers.
No matter your location, home or away, have peace in the knowledge that your bicycle is covered. The worst thing to happen is if someone steals your brand-new bike, or you crash accidentally and need urgent repairs.
Should the worst happen and a crash result in a disability or death, expenses relating to your injury will be covered? From broken bones to missing teeth, your personal accident cover will make sure you get a speedy recovery.
Sometimes, we can’t foresee a crash happening. We can do everything possible to help protect ourselves and others, but it may not be enough. If you need to engage in legal proceedings following an accident, you’re going to need some legal expense cover.
Enjoy your family bicycle rides on the weekend? Or maybe you love to go camping and take bicycles with you and your family. Instead of separately insuring each bike, protect all of your family’s bikes through one easy-to-start insurance policy.
Helmets, knee pads, gloves and clothing all add up. They are essential components that help you to stay on the road and keep safe. These things can be just as costly as the bicycle itself, so make sure to include an accessory cover on your insurance policy.
Whilst the list of included protection on a bicycle insurance policy isn’t exhaustive, the amount of cover you’re entitled to can be extensive.
However, not everything to do with your bike and accessories is covered. Let’s find out some of the things that you’ll want to check out:
General wear and tear
Lost bikes in places other than your insured destination area
Bicycle’s being used for Business Purposes
Not using locks as a protective measure against theft
Deliberate damage by yourself or your family.
Any damage resulting from riding under the influence
Damage during competitions
Unfortunately, the answer to how much it costs to insure your bicycle isn’t an easy one, as it will vary depending on your bicycle.
As a general rule, but not always the case, the higher the amount of coverage that you require, the higher the insurance policy will be.
Typically, cover ranges between £10,000-£30,000 depending on your requirements. However, these prices may not reflect the true cost as you may want additional add-ons like personal accident cover that isn’t always an included policy.
For those that are looking for cover of around £10,000-£20,000, you’ll be looking at around £60-£80 a year, which can be paid monthly or in one lump sum. Anything more than that, and you’ll be looking to pay just over the £100 mark.
To compare insurance packages between bicycle companies, take a look here.
Whilst it may not be a legal requirement to insure your bicycle, unlike cars or motor vehicles, it would certainly be a good idea to ensure you’re protected. It doesn’t matter if you only cycle a couple of times a year or every day, whether you’re a pro cyclist or an amateur, the cost of crashing can be significant.
Whether it’s you or someone else that gets injured, it can be tough to afford to cost of repair – both bike and the person riding it.
It is a good idea to get some insurance for your bicycle. If you don’t want to include all the bells and whistles, you don’t have to. But some basic insurance that you don’t have to pay considerable amounts of money for – it’s worth it.
Head to our homepage to compare the UK's best bicycle insurance policies, so you can find the right cover for your needs.