Bicycle Insurance Guide
While most motorists have insurance to protect them from their personal injury and damage to property liabilities on the road, the same cannot be said for cyclists.
Whether you cycle regularly to work, for leisure, or compete in events, cycle insurance can protect you from hefty bills if you are involved in an accident.
A bicycle insurance policy will also typically include cover for injuries to yourself, damage to the bike and theft.
Contents insurance
If you have contents insurance, you can usually add your bicycle on for a small increase in your premium. This is usually the cheapest way to insure your bike against theft and damage.
However, your insurer may insist your bike is kept inside your property, which isn't always practical, or may not agree to insure it for its full value.
It may sound odd, but contents insurance often won't cover your bike for damage while it is in use, which is the most likely scenario you would want to claim for.
If you want to insure your bike in this way, ask your insurer whether you are covered:
• while the bike is in use
• while the bike is away from home
• for liability in the event of an accident
• for damage as well as theft
• while you are involved in a sporting event
• if you take it overseas.
It's also possible to buy a home and contents policy that is specifically designed with the cyclist in mind, which will provide a better level of cover for your bike than ordinary policies.
Standalone bicycle insurance
Standalone bicycle insurance is available from several specialist and mainstream insurers.
By taking out a separate policy for your bicycle, you can get the exact level of insurance you want. This is a great option if your bike is quite valuable, or you take part in events.
Bicycle insurance is not necessarily expensive if you shop around using our comparison tool and can be great value for money.