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Bicycle Insurance Comparison
Bicycles are becoming more popular in the UK as a mode of transport. In fact, about 42% of people either own a bike or have access to a bike. The reasons for the fast growth in this mode of transportation are varied and include:
1 – Bikes are environmentally friendly, 2 – They’re great for exercise, 3 – Bikes are a highly convenient form of transport, 4 – They’re cheap to operate and fix (most of the time) + more
Have you ever considered bicycle insurance to protect your bike? You’re not required to have bicycle insurance; however, it can be a good idea to cover your ride. This type of insurance can help pay for repairs, if your bike is stolen, and more.
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Perhaps you’re just a weekend bike rider, or maybe your pedal your way to work, and ride to stay fit. No matter how you use your bike, we can help you find cheap bike insurance to keep you and your bike protected.
Consider this, while bicycles are cheap to operate, the bikes themselves are generally expensive. Many bicycles cost anywhere from £1,000 and up, with many high-end bikes costing up to £10,000 and more.
Another thing to consider, bikes are easy to transport. No one thinks anything of it when they see someone on a bicycle, as they’re so common these days. However, the person who just went by on the bike could happen to be a thief. Bicycles, especially those that are more expensive, have increasingly become the target of thieves, who then sell these high-end bikes on the black market. Some 300,000 bicycles are stolen each year in the UK.
These are some of the reasons it can be a good idea to take out cheap bicycle insurance. You’ll protect your bike from thieves and add coverage for accidents and more.
How to Insure a Bike in the UK
Bicycle insurance is not legally required in the UK, so you don’t have to buy bicycle insurance. However, there has been an increasing call for this type of insurance to become mandatory because cyclists can cause damage to the property of others. For example, it’s possible to run into a car and scratch it or worse. It’s easy to become involved in an accident due to reckless riding, etc.
As you can see, being at risk for a liability claim makes cheap bicycle insurance look pretty good. It could cover accidents or property damage you are held responsible for.
In addition, it will protect your bicycle investment in case it’s stolen.
Where to Find Cheap Bike Insurance?
Using an insurance comparison site is the first place to look. On these sites, it’s fast and easy to compare bicycle insurance quotes from several providers. You can easily run a bicycle insurance comparison to find the terms and conditions, and the insurance premiums that are the best fit for your situation and budget.
What About Bicycle Insurance Liability Coverage? Is It Included?
Each insurance provider offers their own type of bicycle insurance. Many insurance policies do include some type of third-party cycling liability coverage. If the provider you are interested in doesn’t provide this as part of the policy, and you want this type of protection, then ask if it’s possible to buy cyclist liability coverage as an optional extra.
Does Bike Insurance Cover Tyres?
No, bicycle insurance usually doesn’t cover your bike’s tyres. As a result, you’ll have to pay for the cost of repairing the tyres or buying new ones.
Increase the Odds of Finding Cheap Bicycle Insurance
In addition to using the site to compare bicycle insurance quotes, you can take these steps to protect your bike and possibly cheaper bike insurance. Each of these steps can help reduce the cost of your insurance premium:
Register your bike: be sure to register your bike on bikeregister.com, which is the UK’s national cycle register database. It’s free to register your bike and this will protect your bicycle from theft. After you sign up, you’ll need to purchase a bike security marking kit. When it arrives in the post, then you’ll need to apply the warning label to your bike. This is supposed to lower the risk of your bicycle being stolen.
Add your bike to your home insurance policy: if you’re bicycle isn’t one of the expensive models, you may be able to add it to your home insurance policy. It may be possible your home insurance policy will protect your bike, and then you may not have to buy separate coverage just for your bicycle. Be sure to read the terms and conditions of your home insurance policy to make sure you bike is covered even when away from home. Some policies only cover your bike when it’s stored at your own home.
Invest in a high-quality lock that’s insurer-approved: you’ll find that most locks are rated for their level of security provided. For instance, you’ll find these levels: gold, silver and bronze. The gold level offers the best level of protection. Check with your insurer to see what security level lock they require for your specific bike. For instance, if your bicycle is worth £2,000, it may need a gold-rated lock, or the insurer may not cover the claim if your bike was stolen and it had a lower-rated lock.
Choose the higher voluntary excess: like other types of insurance, you can have a cheaper rate if you choose to go with a higher voluntary excess.
Only ride your bike yourself: some bike insurance policies will not cover a stolen or damaged bike if it’s being used by someone other than you, the policyholder. For instance, if you lend your bike to a friend, and something happens to your bike, the insurance provider may not cover the claim.
Following these measures and doing a bicycle insurance comparison can help you find cheap bicycle insurance that will protect you and your bike. We wish you many years of happy, safe cycling!
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