Cycling is an increasingly popular mode of transport in the UK, with popularity growing with a number of people now owning or having access to a bicycle especially in these COVID19 lockdown times. We at BestPricefs have partnered with Quotezone to offer customers the chance to compare quotes from a wide range of bike insurance providers in the UK. One Short form will provide us with the information we need to give you a quotation.
Bikes are environmentally friendly, highly convenient, hardwearing, a great way to get from A to B without costing a penny, and equally cycling is a great form of exercise. So owning one is a great investment, but with this investment comes risk of your bike being stolen or you could get knocked off it whilst out riding. So it is important to have bicycle insurance.
Bikes can also be quite costly with the high-end bicycles costing in excess of £10,000, (a Specialized S-Works, for instance, which sells for just under £11,000). These Bicycles are often targeted by thieves as they can be easily and quickly removed, and their potential resale value is very high. In fact, over 300,000 bicycles are stolen in the UK each year, according to data from an annual crime survey carried out by the Office for National Statistics. That’s just one of the many reasons it might be a good idea to take out a relatively cheap bicycle insurance policy if your bike is even remotely valuable.
Is bicycle insurance a legal requirement if you’re cycling on the road in the UK?
No it isn’t. Unlike car drivers where third party car insurance is a legal requirement, cyclists are under no obligation to take out bicycle insurance in the UK. That said, there have been calls in the past for bicycle insurance to become mandatory, not least because cyclists run the risk of being held personally liable for damage to cars or other property if they cause an accident through their negligence or reckless cycling; and of course the potential risk of bicycle theft.
How can I find cheaper bicycle insurance?
Firstly, you should use Quotezone.co.uk to compare bicycle insurance quotes from a wider range of providers, which increases your odds of finding a suitable policy at a cheap price.
Couple with this, the following could reduce your insurance cost:-
1. Investing in a high quality insurer-approved bicycle lock. Most bicycle locks are rated for security on a gold, silver and bronze scale, and some insurers may refuse to pay out if your bicycle is worth more than £2,000 and it wasn’t secured with a gold-rated locking device at the time it was stolen. Check the small print to ensure you are covered.
2. Registering your bike on bikeregister.com, the UK’s national cycle register database: It’s free to register your bicycle on bikeregister.com, and every police force in the UK uses the database to search for stolen bikes. Investing in one of BikeRegister’s security marking kits can also help to lower your insurance premiums.
3. Adding your bicycle to your home insurance policy. If your bike isn’t a high-end model you could be able to add it to your standard home insurance policy so your bicycle is covered without the need for a separate insurance policy. However, check the small print as some policies may only insure your bicycle while it’s stored at your own home.
4. A higher voluntary excess: Many bicycle insurance policies impose a mandatory excess, but you can sometimes find cheaper quotes if you have a higher voluntary excess on top. Of course, that does mean you'll have to cover a higher proportion of the costs should you make a claim.
Does bicycle insurance include cycling liability cover?
In the main most insurance providers offer some level of third party cycling liability cover which would mean it could pay out if you were sued by a pedestrian, a motorist or another cyclist if you damaged their property or caused them personal injury. You will need to check that the cover suits your requirements.
If the bicycle insurance you take out doesn’t include cyclist liability cover as standard you may well be able to add it as an optional extra.
Does bicycle insurance cover the tyres?
No, when you insure a bicycle your tyres usually won’t be covered, so if you suffer a puncture you’ll almost certainly have to pay for the resulting costs yourself.
Who is insured to ride the bicycle?
Most bicycle insurance policies cover the policyholder only and will only pay out if the bike is stolen or damaged while it’s being used by the policyholder, so if you lend it to a friend or a family member and something happens to it while they’re using it you might not be covered.