There are 5 million bicycles in Beijing? Well there are a lot in the UK too and these days more and more people are using pedal power to get around. Whether your bike is for your daily commute, for exercise, for racing or purely for pleasure, it makes sense to insure it against the unexpected and protect your wallet. As with all other financial products it's a good idea to compare pedal cycle insurance quotes before you apply. For a free non-obligation quote from our recommended insurer please click here.
Our recommended insurer is Velosure
This is what they cover as standard:
- Insure one or more cycles up to £12,500
- Theft & accidental damage cover
- Cycle breakdown cover
- £2m Public liability cover
- New for old up to 3 years
- Time trial cover
- Sportive cover now included as standard
- European cover
- Free legal assistance
- Choose your repairer (We are an approved repair centre)
- No claims discount
- Pay monthly
- Personal accident & road rage
- Sport cover
- Clothing & helmet cover
- Family cover
- Public liability cover, up to £5m
- Worldwide cover
Velosure are The Official Cycling Insurance Partner for The Tour of Britain AND The Recommended Bike Insurance Partner at Human Race.
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Things to consider
The risk of theft is common to all bicycles, no matter how expensive. In fact there is a bike stolen about every 65 seconds in the UK.
You can mitigate this risk somewhat by riding a lower value bike that’s less attractive to would-be thieves, or by using insurer-approved locks and secure home storage, but insurance is a very worthwhile precaution.
Before you take out a bicycle insurance policy it is worth checking whether your bike(s) are covered by your home contents insurance, and if so how much you’d be able to claim. Many home insurance policies will only let you claim up to a set amount so won’t fully absorb the cost of a replacement. Many home insurance policies don't cover loss or damage if you are competing in an event, so again please read all the small print.
More importantly you'll need to consider if the excess you’d need to pay and subsequent impact on your home insurance premiums would ever make claiming worth it. It can be much cheaper and provide better cover with a standalone bicycle insurance policy instead.
If you have more than one bicycle in your household you may be able to get further discounts on the cost of cover by opting for a policy that covers multiple bicycles.
It's not just the bike: Thieves also target seats and wheels. So get a second lock or even a chain to feed through the wheels. If you've got accessories like lights, take them with you when you lock up. They're an easy target for thieves if they're left unprotected.
What do most bike insurances cover?
Most standard bicycle insurance policies will include the following cycling insurance cover:
Theft : Theft cover is an essential part of a bicycle insurance policy, and the more expensive your bicycle, the more attractive it is to would-be thieves. Check that the full replacement value is covered against theft by whichever insurance for cyclists policy you take out.
Cycle accident : Cycling, particularly in urban areas, carries an inherent risk of injury as there is little protection. So it’s a good idea to look for a policy that includes a reasonable level of cycling personal accident insurance so that you’re not left financially stranded if you are injured in a cycle accident.
Bike Chain Ricci Tip: Make sure you check what exactly the insurer classifies as a cycle accident to ensure that you’re able to claim if you need to.
Third party liability : This is a set figure that your insurer will pay out to cover the cost of any damage or injury you cause to other people or their property while you’re on your bicycle.
Bike Chain Ricci Top tip: Some cheap cyclist insurance policies exclude competition cycling from this cover. If this is something you’re likely to want, check it is included to a level you are satisfied with.
Accidental damage : Policies that include this cover will pay out for a repair or replacement if your bicycle incurs accidental damage of some kind.
A cheap bicycle insurance quote may not include sufficient accidental damage cover or may apply a significant number of restrictions as to what counts as accidental damage so check before you commit.
Cycling abroad : Whether for extended bicycle trips or simply for family holidays, many basic policies won’t include cover for people cycling overseas due to the expense of dealing with issues abroad. Touring insurance may well be the cheapest insurance for cyclists in this position, so if you’re likely to want to take your bicycle abroad this is something to look out for. Insurers differ as to whether they offer European cycle travel insurance or worldwide cover so consider where you’re likely to be travelling and find a policy that suits.
How to find the right push bike insurance, the best cycle insurance for you will ultimately be the combination of features (such as those listed above) that best fits your needs. Establish your priorities and don’t focus on just one aspect, as this may mean you aren’t covered elsewhere.
* You should weight the aspects of these general plans according to how you normally use your bike, to achieve the most effective cover.