Bicycle Insurance Comparison

Bicycle Insurance Comparison

Bicycle insurance is not a legal requirement in the UK however there are many good reasons why you may want to consider it.

The UK is a nation of bicycle lovers, there are roughly 20 million bikes in the UK with nearly half of the population in England alone having access to one. With cycling being such a popular activity it is unfortunately not surprising that there are thousands of accidents every year involving cyclists.

Reasons to get bicycle insurance.

• Accidents : With thousands of cyclists involved in accidents every year – is it really worth being uninsured?
• Theft: Over 300,000 bicycles are stolen each year in the UK – that’s a lot of bikes.
• Damages: With the average price range of bicycles being £200 – £400 with more high end models ranging in the thousands – Is it really worth risking not having insurance?
• Third parties: If you injure a member of the public whilst cycling or damage their property, you may be liable for paying them compensation – this can be very expensive if you’re not expecting it so again, is it worth the risk?

Cycling is a great joy for many who partake in it and it is a great way of keeping fit and contributing to reducing carbon emissions. The practical risks mentioned above shouldn’t stop people from doing what they love so getting bicycle insurance is strongly recommend.

How much is bicycle insurance cost?

Bicycle insurance can vary in cost depending on what influences your risk factor to the insurer. This essentially means how likely it is that the insurer will need to pay out a claim to you based on statistical data.

This data includes factors such as the location you live, the crime rate of that area (number of bikes stolen), the bikes value and if you have made previous claims or been involved in accidents before. The add ons you may choose to put on your policy will also influence the final cost of your insurance. As a general idea you can presently expect to pay around £50 on average for a bicycle that is around £1000 in value with most lenders. This price will adjust accordingly with the value of your bicycle as well as the factors mentioned above. The best way to find bicycle insurance is to compare deals from multiple lenders on Tiger.co.uk.

A good way of potentially saving on your bicycle insurance if your bike is not a high end model is to include it on your home content insurance.

What is covered under bicycle insurance?

Typically you can expect the following to be covered under many policies offered by specialist lenders.

• Theft, accidental damage and loss
• Public liability for claims made against you
• loss of earnings
• Medical expenses

This list is not an exhaustive list as more tailored policies can include additional cover such as cycling liability coverage. You can find insurance policies that offer you the appropriate level of coverage by comparing multiple lenders on Tiger.co.uk.

What isn’t covered by bicycle insurance?

• Intentional damage by yourself, relatives or someone you know.
• Standard wear and tear of your bicycle.
• Using your bicycle for reasons not covered by your policy, i.e. business related activities.
• Driving under the influence of drugs or alcohol.
• Theft as a result of leaving your bike in an uninsured location for prolonged periods.
• Damage or theft as a result of transportation or misuse by another party with your consent.

Does bicycle insurance cover electric bikes?

Absolutely, electric bikes or E-bikes are classified as push bikes and so most insurers will be able to offer you insurance for your electric bicycle. Given that E-bikes are more valuable than standard bicycles they do tend to be more expensive to insure however. Finding deals on your electric bicycle insurance is easy with a comparison service.

Which is the best electric bicycle insurance?

This really depends on certain factors such as the age, make and use of your E-bike. If the best electric bicycle insurance for means the most comprehensive level of cover, then a comprehensive insurance plan would be the best for you. If you are after the cheapest option than third-party only may be the better option. If you are looking for the perfect blend of cheap pricing and comprehensive cover, comparing multiple insurers is always the best way of increasing your chance of getting the best E-bike insurance.

Where can I get bicycle insurance from?

Here at Tiger.co.uk we have provided access to a panel of UK based specialists to make finding bicycle insurance easier than ever. Compare multiple lenders and deals by filling in a quick simple form online and get back out cycling with cover fast