Cycling is an increasingly popular mode of transport used by one or the other person in today’s world. So, it is also an increasingly stolen thing for the moochers. Therefore, there’s a need for getting a relatively cheap bicycle insurance policy for yourself.
Why do You need Bicycle Insurance?
If you are one of those who regularly ride a bike, or have one then you can buy bicycle insurance. You can even add bicycle cover to your home insurance, or you can even buy a separate bicycle insurance policy for it.
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You need two wheeler insurance in case your bicycle is damaged or stolen. But if you have a bicycle insurance policy then the cost can be covered up. Your bicycle insurance can give you financial protection against:
- Theft
- Accidental or malicious damage
- Personal accidents
- Third party liability
These were the basic things covered by the insurance policy of a bicycle. Other than these some insurance policy also covers bike hire, accessories and taking part in competitions like time trials, road races and triathlons. The bicycle insurance works just as your Cheap Car Insurance does for you.
What Should Great Bicycle Insurance Have?
A good insurance policy must have some common things mentioned that should be noted down to get the best bicycle insurance policy. So, some of the things to look out in a bicycle insurance policy are:
Where and when it’s covered.
- Do check your insurance policy carefully and note down the details where your insurance is applicable.
- Do check your insurance cover:
- a) Whether the insurance cover extends to other countries or not
- b) When you have locked it up and leave it away from home
- c) When you have locked your bicycle and left it overnight
Note: You need to check all the points whether they are covered in the bicycle insurance policy or not.
What the Bicycle Insurance Policy is Covered Against?
You need to know against what all things the bicycle insurance policy is offering claim. Theft, vandalism and accidental damage are some of the points that are covered in the insurance policy.
- How much is Covered?
You should probably know the amount of bicycle insurance. As in the case of an expensive bicycle, the claim should be enough to meet the cost of the bicycle.
- What security is expected?
There are certain rules against which you won’t be eligible to claim the insurance policy amount. Therefore, it is your foremost responsibility to keep your bicycle safe.
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What does a Bike Insurance Cover?
Most probably a bicycle insurance cover includes the following:
- Theft
Your bicycle has a possibility of being stolen. Therefore, make sure what amount your insurance policy covers against theft.
- Cycle accident
Cycling does carry an innate risk of injury. Therefore, do look for a policy that includes cycling personal accident insurance. Also, do make sure the policy classifies the insurer in case of cycle accident to claim the bicycle insurance amount.
- Third party liability
Third party liability covers all those damages that you have caused while on your bicycle to others. You need to check your insurance policy offers the same and does not apply restrictions to be counted as accidental damage.
- Cycling abroad
many elementary policies does not include insurance cover for people cycling abroad. So, make sure that your pedal cycle insurance policy covers foreign countries.
Additional or Optional Bike Cover Includes:
- Malicious damage
- This claim is offered when the bike is vandalized.
- Replacement cycle hire
- You will be provided with another bicycle till your bicycle is undergoing some repairs.
- Cycle breakdown
Here, you can claim the cost involved in taxi or transport when your bicycle has become unsafe to ride due to a malfunction or unexpected damage.
What are The Problems That Arise with The Bicycle Insurance Cover?
You should be well aware of all your policies terms and conditions as well as clauses. Therefore, some of the bicycle insurance policy exclusions are:
- Monetary Gain
When you are using your bicycle for monetary gain or business purpose then your bike insurance claim will be rejected.
2. Cosmetic Damage
Any cosmetic damage will not be covered in the insurance policy which includes scratches and dents, etc. As it does not hamper the functioning of the bicycle.
3. Damage to Accessories
Any damage caused to the accessories of the bicycle is not covered in the cycle insurance policy. Thus, tyres or mud guards, etc are excluded from the insurance cover.
4. Theft
Theft of the bicycle is also not covered in insurance cover when you have not secured your cycle properly.
5. Accidents
Accidents that happen when you were under the influence of drugs or alcohol will not be covered in your bicycle insurance policy cover.
6. Loss
Any loss where it is difficult to believe for the insurance company that it is your bicycle, your claim could be rejected.
What other Things Might a Bicycle Insurance Cover?
There are some other things that you can check in your bicycle insurance policy covers:
- Public liability and personal injury cover
- New for old if your bike can’t be repaired
- Accessories cover such as for helmets and clothing
How to Buy Bicycle Insurance Online?
To buy motorcycle insurance online, you need to search for the best website available where you can compare quotes or enter your bicycle details to get the best quote online. So, let’s see the process to buy bicycle insurance online:’
- Fill in your Bike Details
You just need to enter or fill the details related to your bicycle like make, model, etc, to get top insurance quotes instantly.
- Compare Quotes and Choose a Plan
You can select from the numerous bicycle insurance quotes available online as per your requirements, within your budget and needs.
- Make Payment and sit back
You just need to pay online and relax as your bicycle insurance policy online is done.
Some of the Best bicycle insurance companies
Several well-known brands offer bicycle insurance policies. Therefore. It has become quite difficult to select the best one out of them all. So, we have brought you some best bicycle insurance policies you can choose from.
Here, some of the best bicycle insurance companies are:
- Yellow Jersey
- Bikmo
- PedalSure
- Velosurance
Now, let’s explore more about the best bicycle insurance companies and the claims it offers.
Yellow Jersey
Yellow Jersey offers bicycle cover for travel, events, accessories, etc. The max bicycle insurance cover offered for a single bike is £15,000. Yellow Jersey is a specialist in offering comprehensive insurance for cyclists. Its main focus is on serious cyclists and high-value bikes. Moreover, the company also sponsors cycling events and insurers professionals.
Insurance Policy features of Yellow Jersey:
- It offers three types of insurance policies for bicycle.
- Essentials – to protect less expensive bikes from theft or damage
- Performance – for enthusiasts who enter events and own one or more mid-level bike.
- Ultimate- for cyclists that compete in the UK and abroad in crits, triathlons or mountain bike races.
- It offers the highest multi-bike discounts at 60{367c01af22dc6c3a8611ff25983b0f0a247ed9fc1c45fd9103ad49b47a0c5f39}.
- free DNA+ security marking kit is an add on feature in policies.
- a 10{367c01af22dc6c3a8611ff25983b0f0a247ed9fc1c45fd9103ad49b47a0c5f39} discount is offered by the company on the racing cover and travel insurance for cyclists.
Yellow Jersey Insurance Cover is specially designed for:
- serious cyclists
- competitions and events
- mountain bike races
- high-value bikes
- enthusiasts
| POLICY | Price/yr | Excess | Lock Required | Personal Accident | Public Liability | Cover When Racing | Race Fee Cancellation |
| Yellow Jersey | £250 | £100 | Gold | Yes | £2m | Yes | Up to £500 |
Bikmo
Bikmo is a comprehensive insurance policy for cycling enthusiasts that are specialising in cycling insurance day by day. It covers fixtures, events, breakdown, race payments and worldwide travel. bikes worth up to £20,000 are covered in the insurance policy. Thus, it is the Best Bicycle Insurance Provider.
Bikmo Insurance policy features:
- It offers insurance cover for competitions and worldwide travel.
- a 10{367c01af22dc6c3a8611ff25983b0f0a247ed9fc1c45fd9103ad49b47a0c5f39} off Bikmo’s cycling insurance is offered on joining Bikmo cycling insurance group.
- Some exclusive offers from cycling retailers are provided to insured.
- It provides comprehensive insurance cover.
- It offers Breakdown cover up to the value of £150.
- Emergency bike hire service is provided.
- It bids Interest free monthly payments.
- It also offers Theft, accidental and vandalism cover with some conditions mentioned in the insurance policy.
Bikmo Insurance Cover is specially designed for:
- all-rounders
- commuters
- amateur races
- taking a bike on holiday.
| POLICY | Price/yr | Excess | Lock Required | Personal Accident | Public Liability | Cover When Racing | Race Fee Cancellation |
| Bikmo | £216 | Up to £300 | Gold | Yes | £2m | No | No |
3. PedalSure
PedalSure Insurance company offers payouts for physio and when you break a bone. And if you want you can add liability and personal accident cover without insuring your bike. Thus, it focuses on the cover for risks like injuries as a result of a crash. We recommend PedalSure as one offering quality insurance cover for cyclists.
PedalSure Insurance policy features:
- It offers cover for cyclists, bikes, or both together.
- It offers Health insurance-style pay outs.
- It includes Cover for races and international travel.
- a 10{367c01af22dc6c3a8611ff25983b0f0a247ed9fc1c45fd9103ad49b47a0c5f39} discount on cover for new cyclists, city cyclists and mountain bikers is offered.
- Its Cover applies for use of bikes in amateur races.
- Legal expenses cover up to £25,000.
- It also offers Worldwide cover for your bike that lasts up to 21 days.
- A Worldwide cover of 7, 14 or 28 days depending on the level of cover.
PedalSure Insurance Cover is specially designed for:
- new cyclists
- commuters
- mountain bikers
- enthusiasts
People having home insurance that covers their bikes.
| POLICY | Price/yr | Accessories cover | Personal Accident | Public Liabilityt | Cover When Racing | Replacement bike hire | Medical Costs |
| PedalSur | £1,500 | £1,500 | £150,00 | £2m | Yes | Yes | Up to £1250 |
4. Velosurance
Velosurance is a US insurance company providing a multi-risk insurance policy offering protection to all types of cyclists. It offers protection such as accidental damage, theft, or loss in transit. Moreover, some additional coverages are also included in the insurance policies as per the demand and need of the person or the insurers. Thus, it is the best bicycle insurance us company.
Velosurance Insurance Policy Features:
- It provides the peace of mind when your bike is stolen or damaged.
- It covers some of your medical bills, up to the policy limit.
- Accidental Damage is covered in the insurance policy.
- It offers Worldwide Coverage.
- It offers Replacement Bike Rental.
Velosurance Insurance Cover is specially designed for:
- mountain bikers
- enthusiasts
- Crash Damage
- theft
| POLICY | Price/yr | Excess | Lock Required | Personal Accident | Public Liability | Cover When Racing | Race Fee Cancellation |
| Velosurance | £112, £237 and £276 | Up to £75, £150 and £200 | Bronze and Gold | Yes | £2m | Yes | No |
Some other Insurance providers in the market, that are performing and offering good insurance coverage on bicycles are:
- Assetsure
- ETA
- Protect Your Bubble
- Wiggle
- Evans
- Eversure
- E&L
- Lexam
- CycleGuard
- Cycleplan
- OnePro
Bicycle Insurance Covers Depending upon the Needs:
Thus, the different companies offering bicycle insurance cover are as per the need of the insurers. Thus, we here have concluded some companies depending upon the needs as well:
- Insurance cover for Commuters
Here you can consider Velosure, PedalSure as well as Bikmo, CycleGuard and Yellow Jersey due to their cycle breakdown feature. These policies also cover the costs of transporting a broken bike to a shop for repairs and travelling cost.
- Insurance cover for Cycling events and races
Yellow Jersey, Bikmo, PedalSure and Velosure include race cover in their insurance policy. Also, many events do require a cover before entering into the competition.
- Insurance cover for Security and freebies
Here we will suggest Yellow Jersey as the most suitable bicycle insurance option to go on from the security point of view.
- Insurance cover for Foreign Trips
Here, the best suitable motorbike insurance options are Bikmo and Yellow Jersey offering worldwide policies and also paying the claim if your bike or the box is being transported in are damaged.
Note: Otherwise, you can also opt for Cycleplan, CycleGuard and PedalSure.
How can you find Cheaper Bicycle Insurance Policy?
When you have compared your bicycle insurance quotes from an extensive range of insurance providers, and still need to find a better way to decrease bicycle insurance cost. Then by following these steps can get you cheap bicycle insurance.
- Invest in a high quality bicycle lock
The bicycle locks are rated for security on gold, silver and bronze scale for the purpose of bicycle insurance rates. As some insurers may refuse to pay out insurance claim when your bicycle is worth more than £2,000 and it is not secured by you.
- Register your bike on bikeregister.com
Get your bicycle register on bikeregister.com, which is free to register website. As it is one of the UK’s national cycle register database which can help to lower your insurance premiums.
- Add your bicycle to your home insurance policy
When you add your bicycle to your home insurance policy that means that your bicycle is covered without the need for a separate insurance policy. Though, you need to cross check and go through the policy terms mentioned.
- Higher voluntary excess
Sometimes bicycle insurance policies impose a mandatory excess that you cannot deny off. But you can find cheaper quotes when you agree to add a higher voluntary excess on top in the insurance policy.
Which are the Potential Bike Insurance Risks?
Some of the potential bike “insurance risks” associated with every person which they can experience in daily life are:
- Property damaged in an accident;
- Damage to someone else’s property due to your bike
- Driving into the garage with your bikes still on the roof rack
- Theft (at home or elsewhere);
- Damage whilst racing or travelling, etc.
Conclusion
Now, insure your bicycle as well by Comparing policies to buy the smart bicycle insurance with the most competitive bicycle rates offered worldwide. Bicycle insurance do offers you protection against theft, accidental damages, etc. And some of the various insurance companies offering the best bicycle insurance are Yellow Jersey, Bikmo, PedalSure, Velosurance and many more. So, compare the bicycle insurance quotes online and choose the best bike insurance option for yourself.
Frequently Asked Questions
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