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Personal and Competitive Use Cycles

By Updated June 2020.

Cycle ownership has steadily increased in the UK over the last decade, with its obvious environmental benefits over driving, commuters have turned to the humble bicycle as an excellent way to get to work through Britain’s congested cities.

The cost of maintaining a cycle is so much less than running the cheapest of cars and cycling has a huge benefit to the cyclist’s health.

More and more people are now using a cycle for their daily commute to work and with the UK’s roads becoming ever more congested the risk of an accident becomes all the more likely. So it’s really important to have good Cycle Insurance to cover not only yourself and your bike, but also for any third party involved in an accident with you (both pedestrian and vehicle).

There are approximately 26,000 cycle accidents reported each year and cycle theft is an ever-growing threat to cyclists, as cycling becomes more and more popular and cycles become more complex in design and so more valuable. (www.ukinsurancenet.com)

Whether you use a cycle for pleasure on the weekends or it is your daily mode of transport, it is important to have the right Cycle Insurance cover to meet your needs. In fact, the whole families’ cycles should be insured so that you have confidence that you are covered for any eventualities that may occur.

Points to Consider When Looking for Cycle Insurance:

When setting out to find the right Cycle Insurance policy you should consider the following:

  • Where are you going to be using your bike (UK or abroad)?
  • What is the value of the bike?
  • What type of bike is it?
  • What security devices do you have for your cycle?
  • What do you intend to use your cycle for primarily?
  • Where is the bike to be kept at home, at work, at school or for any other long period of time when not in use?
  • Does your bike have quick release saddle and wheels fitted?

All the above factors should be considered when buying Cycle Insurance. It is always advisable to pass as much information as possible to the insurance company from the start so that you do not encounter any problems when making a claim.

Factors to insure against

When choosing your Cycle Insurance it’s important that you know what you want from the policy. Cover can include the following:

  • Theft and vandalism
  • Accidental damage to the cycle
  • Third party cover for pedestrians
  • Third party cover for vehicles
  • Personal injury
Other useful information

When taking out a new policy it is often advised to get a new for old cover. This will ensure that should your cycle be stolen or damaged beyond repair that you will be able to buy a replacement cycle.

Many cycle insurance policies have a voluntary excess that is agreed upon when the policy is first bought. Any claim made will take this excess into consideration.

If you are unfortunate enough to have your cycle stolen then the insurance company may want some proof of ownership. Take a photograph of the bike and keep the sales receipt. In most cases you will need a police crime number, so any theft or acts of vandalism should be reported to the police before the insurance company is contacted.

In some cases your home insurance may offer some protection for personal items such as cycles. You should read the terms and conditions though, to ensure the policy offers you the total protection you may need.

Insurance for personal use

Public liability insurance is the most appropriate type of insurance to cover you during personal use, for example commuting to work. This insurance provides the financial protection you need for third party claims where you may have caused injury to a third party or damaged their property. If you use your cycle on the roads it is highly recommended that you are covered for Third Party liability.

Insurance for Competitive/group events

If you are intending to take part in any competitive events with your cycle, ideally make sure you have informed your insurer before you take the policy out.

You can buy policies that cover you for any damage or accidents that may occur during group events or training with teams. Cycles are commonly damaged beyond repair and accidents between riders are common, especially within races. An all-inclusive Cycle Insurance policy will cover both the costs or damage or personal injury and can provide enough compensation to cover the costs involved.

With comprehensive Cycle Insurance you can look forward to another year of cycling knowing that you are covered for any unfortunate events that may arise!