Should You Look For Bicycle Insurance?
Cycling is a simple pleasure for some, and a dependable mode of transportation for others. Riding a bicycle is both environmentally friendly and cost effective, and unlike motorised vehicles, bicycle riders are not required by law to carry insurance. However, that doesn’t mean having insurance isn’t recommended for both competitive and leisure cycling, as it can provide protection you didn't realise you were eligible for.
The Basic Function Of Bicycle Insurance
The basic function of bicycle insurance is to protect riders from theft. However, it is important to note that, like car insurance, there are fully comprehensive policies available that will offer much more than just coverage against your bicycle being stolen.
All types of bicycles intended for any use can be covered with a cyclist liability insurance policy, including mountain bikes, racing bikes and all other road legal electric bikes and pedelecs.
It is imperative to fully investigate any insurance policy before purchasing as features and coverage will vary greatly from one provider to the next. Beware of adverts boasting of fantastic prices for coverage, as it is highly likely you will be receiving minimal benefit and cover.
Points to Consider when Selecting a Policy
When it comes to bicycle insurance, there are several aspects to consider. Start by deciding what type of coverage you will require. If you are just seeking compensation for theft there is a chance that is already being provided by your house insurance, so be sure to look into that beforehand.
If you are seeking more extensive coverage, be sure to investigate more in depth policies, as they can provide extra compensation for unfortunate events such as vandalism, third party claims, accidental damage and personal accidents.
A good policy should provide coverage for cycle breakdowns to protect against flats or other mechanical malfunctions, as well as cover theft and damage to removable parts like shifters, saddles and wheels.
Bike insurance should offer provisions for personal benefits in case you are injured on your bicycle. The standard amounts are in the area of 20,000, as well as a reasonable policy will offer the standard 1m third party coverage in the event you have an accident with a pedestrian, vehicle or another cyclist. Look for a policy that has provisions to assist you with a legal team to help you gain compensation, should it be required and you are involved in an incident where you are not at fault.
The Costs Associated
The cost of bicycle insurance will vary depending on a number of factors. These include where and how the bicycle is stored, whether it is used for commuting or recreation, the local region, the replacement value and optional details for extended coverage.
Online quotes are available from any major insurance providers, the same way they are for house and vehicle insurance. It is recommended to seek quotes online from various sources, and consult any current insurance providers for advice before choosing a policy right for you. Cyclecover and CTC offer bespoke quotations for cyclists, so it is well worth spreading your research pretty widely between the regular insurers such as Direct Line and Endsleigh. Look for reputable companies that have a straightforward policy, as well as great customer service, allowing claims to be submitted online and with 24/7 availability. Always read the fine print on any policy - details that lower the cost mean you are trading protection for savings. Keep in mind discounts can be offered when bundling policies and for foldable bicycles like a Dohon.
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