Whether you cycle to work, hit the trails on your mountain bike, participate in triathlons or just simply get out on the road for a few miles at the weekend, cycle insurance gives you the peace of mind that you and your bike are protected if things don’t go to plan. Cycling always involves a certain amount of risk but investing in cycle insurance safeguards you financially when the unexpected happens. With so many things to consider, from theft and damage to liability cover and worldwide coverage, and with several providers in the UK to choose from, it can be difficult to know which policy is right for you. So to give you a hand, we’ve broken down the key items to look for in a policy when you compare cycle insurance.
Where is your bike covered?
When comparing cycle insurance, it’s worth checking if your home insurance already covers your bike. However, basic home contents insurance usually only covers possessions if stolen or damaged at home – which is not ideal when the possession is a bike and is likely to spend a fair bit of time away from home! Other home insurance policies may go further and protect your bike away from home but it’s likely to just be for theft rather than for things like damage to your bike or liability insurance. Some insurers let you buy supplementary insurance for using your bike elsewhere as an add-on to your home insurance, but it’s usually at a hefty premium. So whilst standard home insurance can provide a level of protection for your bike, it’s definitely worth checking exactly what this means in terms of where the bike is covered.
How much is your bike worth?
Modern bikes not only look great and are great fun to ride, but they can also cost quite a bit too. Standard home insurance policies tend to have low bike value limits meaning that, once again, they won’t be fit for purpose. Specialist “bike-only” insurance will generally have higher value limits but that also means higher premiums too. They also will only tend to offer insurance per bike. No good if, like many of us, you have more than one bike in the household.
PedalCover offers a range of policies to cover even the biggest bike collections and combines this with home insurance too, giving you the best of both worlds. It also covers all your cycling kit and accessories, including extra wheelsets, as standard.
Cycling liability cover
The importance of third party cycle insurance is becoming ever more important, and any policy worth its salt should provide cover for you if you’re involved in an accident and it’s proved to be your fault. Whether this is with a pedestrian, another cyclist or a fellow road/trail user, it’s important to make sure your policy protects you from some, potentially very expensive, claims.
Accidents happen and so it’s essential that the insurance policy provides cover for these mishaps. A good policy will not only provide crash damage cover but this will also extend worldwide, so your bike is covered wherever you choose to ride it! Added to that, airline cover will ensure it is covered for damage incurred whilst getting it there, and back.
How much cycling expertise do the insurers have?
Last but not least, it’s worth considering who you’re buying the insurance from. Do they really understand cycling? PedalCover’s policies have been designed by seasoned cyclists with years of insurance experience, and our in-house team consists of avid cyclists, mountain bikers and triathletes who are always on hand to discuss your options with you. We’re confident that anyone frustrated with the lack of cycle insurance options for them will find an ideal policy, with the bonus of protecting your home too. Why not put us to the test and give us a call – 0800 121 4424.
Compare Cycle Insurance in the UK