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.
If you have just bought yourself a new bicycle, or have been cycling for years, one of the main things to consider would be how to keep it safe and protected. Whether you use your bicycle for practical purposes such as travelling to work, for leisure, fitness or riding competitively, it’s well worth taking out an insurance policy to protect you against theft, damage or accidents.
Before you begin
Before you apply for insurance for your bicycle, check you Home Contents Policy. Many people will have cover for their bicycles under their home contents insurance policies, but bear in mind that some insurers do not include bikes in these policies.
Whats included in bicycle insurance policies?
Most specialist bike insurance cover a range of options including:
◊ 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
◊ Accidents abroad – it covers your bike while you are abroad
Should you have an accident, injure another person or damage their property while cycling, a bike insurance policy will cover the payments. Bicycle insurance is particularly worth looking into if you have a very expensive bike or are a regular commuter on busy roads or often leave it parked in public places.
How to get the best quote
Comparing bike insurance online can be a daunting prospect, especially for those who have never done it before. We recommend you do your research beforehand and compare market leading insurers in minutes to find the best quote for you and your bike.
Once you have found the ideal quote for you, you can contact the insurer direct to complete the application.
For more information on choosing the right policy for you, visit the CTC website - the UK’s national cyclists’ organisation.
Things to look out for
As with all insurance policies there are security requirements that must be followed. Many insurance companies will not pay up if you have failed to do all you can to secure your bicycle. 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.
Meeting security requirements for your insurance policy
◊ Always use an appropriate security device when the cycle is not in use, which include loop locks, disc locks, chain locks, alarm systems that are Security approved, such as the Sold Secure and Thatcham accreditations.
◊ The bicycle must be secured using a Security Approved lock, through the bicycle frame, to an immovable object i.e. stone, concrete, brick or steel, using a Ground Anchor, making the bicycle itself incapable of being lifted.
◊ Store your bike out of sight where possible, either indoors, in a garage or a secure metal bicycle unit, such as the Asgard Addition bike store.
The Addition Metal Bike Store is an all-metal bike shed providing secure outdoor storage of up to 3 adult cycles and bike equipment. This metal bike store offers excellent bike security and an ideal secure store for your mountain bikes, road bikes and general cycling equipment. For more information, visit http://www.asgardsss.co.uk
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