Cycling Insurance UK
2007-03-09 07:06 AM | Posted by Tejvan Pettinger | Permanent Link | Cycling Insurance
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Cycling Insurance in UK.
The statistics for cycle theft make for grim reading. On average a bike gets stolen every 45 seconds in the UK. If you buy a bike getting suitable insurance should definitely be a high priority. If you have a relatively cheap bike (less than £300) you can probably cover it under your home content insurance. However you may have to pay a premium to have the bike insured away from the home. If you bike is expensive over a £1000 it is worth looking into a specialist bike insurer. Unfortunately bike insurance doesn’t come cheap, especially if the bike is used in competitions like road racing. If a standard insurance company offers a very expensive deal, don’t be put off but look around for a better deal. In the UK it may be worth contacting specialist cycling bodies like the BCF and CTC to check whether they have any suitable products.
Things to Consider when getting Cycling Insurance.
- How much would it cost to Replace? Some insurance schemes may only cover the depreciated cost, however the value of racing bikes can soon decline.
- For home insurance bikes over £300 should be mentioned as a specific item.
- The insurance scheme will probably stipulate that you need to get certain locks for your bike. It will probably also involve locking the bike indoors to a fitting fixed to the wall. (Personally I keep my low pro Time Trial machine in my sitting room)- Who needs Picasso when you have carbon fibre?)
- As usual insurance premiums will become lower with no claim bonuses so it is worth biting bullet for first year.
- Check whether accessories are covered. Many bikes may have very expensive accessories like TT bars and lights.
