A simples guide

Compare Bicycle Insurance

Your bicycle’s covered by your home insurance right – or is it? If you’re not 100% sure, it’s worth double checking.

Some home insurance policies only offer you protection if your bike is stolen or damaged by major peril whilst stored in the boundaries of your home either in your house or in a locked outbuilding.

However, if the value of your bike exceeds £350, the bike will need to be specified on the policy and a valuation certificate provided in the event of a claim.


Are you covered for bicycle insurance?

This is all well and good but what about if you’re out and about and want to actually use your bicycle to – you know – cycle? Well if you want cover away from the home then an additional layer of cover specifically for your bike will be needed to cover your bike up to a certain limit (usually between £300 and £3500). This separate insurance will offer you cover for your bike for loss, damage and theft away from home. 

Bike lock

Do I really need to insure my bicycle?

Over 700,000 people cycle to work and there’s not much sign of cyclists slowing down. In 2014, pedal power saw over 3.2 billion miles covered by cyclists, which is an increase of almost 4% from the previous year. Cycling’s increase in popularity means that your bike is potentially even more of an attractive target to thieves. More cyclists and congested roads also means potentially more hazards and accidents.

London has seen the biggest burst of cyclists with an increase of more than 11,000 workers choosing to bike their way to the office between 2001-2011. If you’re one of those Londoners and someone or something took your bike off the road, you could find yourself having to shell out over £80 a month in bus fare. Regardless of where you live, finding an alternative form of transport could be expensive – so can you really afford not to insure your bike? 

So what exactly does cycle insurance cover?

As we said earlier, you can extend your home insurance policy to cover your bicycle when it’s not at home but make sure you read the small print to find out exactly what that will cover as policies can vary. Look for options such as:

- Cover against theft, vandalism and accidental damage
- Public liability and personal injury cover
- Cover within the UK, Europe and worldwide
- New for old if your bike cannot be repaired
- Bike hire whilst you wait for a repair or replacement
- Roadside recovery and assistance
- Accessories cover such as for helmets and clothing

Is insuring a bicycle expensive?

It doesn’t have to be. Your home insurance can be tailored to suit what you need it to so there’s no excuse not to compare the market and make sure you find the best policy for you.

You can insure your bike for up to £500 or £2,500. But you don’t have to go far to find a great deal, just let us know what you need and we can do the searching for you.

Now; we know that you know how important it is to secure your property, but it’s worth a reminder every now and again and most policies will also expect that you ensure your bike is suitably secured with a decent or approved lock. It’s also worth making sure that you know what your policy excess is, because a hefty excess might mean you’re reluctant to claim.

You won’t often hear us tell you to get on your bike but on this occasion, we’ll make an exception – just make sure that you let us help keep you on it! Whatever your cycling needs, we’re confident there’s a policy to suit you, and we’re here to make it easier for you so get comparing and see how much you could save!

Here are some fun facts and figures about people and their bikes:

- More men cycle to work than women
- There were 89,004 recorded bicycle thefts between October 2014 and October 2015
- Approximately 3.6 million bicycles are sold in the UK each year
- About 30% of all bikes sold are kids bikes
- Cambridge has the highest proportion of residents who cycle to work (29%) followed by Oxford (17.1%)
- The average cycling trip is 23 minutes

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