Insurance Explained

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Bicycle Insurance

Bicycle insurance, as with all insurance products, gives you a way to deal with the risk of having something happen to your bicycle - depending on the product you choose - and therefore having the peace of mind that this cover brings.

Clearly if you have a bike that is worthless then you may well decide that you do not need insurance. Or it may be that you have checked your home contents insurance policy and that your bicycle is covered under this, and you can claim enough such that the cost of the bike would be fully covered in that eventuality. But for anyone who has a bike of any significant value, then you may well not be able to claim enough to cover the cost of the bicycle even were it to be covered under your contents insurance - and in which case you might see things very differently and decide that you wish to take out bicycle insurance as a result.

Although it may seem quite a niche product, there are actually a lot of providers out there. And indeed there are a lot of bikes that cost a lot of money, and a keen cyclist may well spend very significant sums on their bike and indeed various pieces of kit to go with it.

There are various different types of bicycle insurance product on the market, catering to a range of different needs, from the casual biker right through to those with very specific needs such as those who engage in triathlons, for instance!

A standard cover might include theft and accidental damage to a bicycle, but not necessarily. Other types of cover might be for what you might call thirty party liability insurance - let's say that in the course of riding your bike you accidentally knock into someone else resulting in injury, then that person can claim damages - liability insurance can protect you against such claims for injuries or damages from third parties.

There are even breakdown recovery services for cyclists along the same lines as with car drivers so that if something happens like your bike gets damaged and you can't complete your journey you can call for assistance and get taken to a repair shop or accommodation etc.

Push bicycle insurance can be attractively priced and might be, say, in the region of £20 - £50 per year although of course it varies very much depending on what type of cover you require, and also what maximum total amount you are insured for. It might be for instance that you decide to get insured for £5,000 cover for your bicycle and £15,000 for personal accident cover. Rates for insurance will clearly vary depending on how much cover you get for these eventualities, and also whether you decide to take out cover for theft, accidental damage, vandalism and whether you wish to be covered in just one country or, perhaps, across Europe for instance.

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