Bicycle Insurance
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Why Compare Bicycle Insurance Quotes With SimplyQuote?
With SimplyQuote, you can compare bicycle insurance quotes from numerous brokers in just a few clicks. We know how frustrating and time-consuming it can be to find the quote best suited to your unique needs.
The comparison tool is designed to simplify the process to help you get the best bicycle insurance deal.
What Do You Need To Get A Quote?
When applying for bicycle or cycle insurance, the following details are required:
- Personal details – e.g. name, address, contact info
- Bicycle details – e.g. the type of bike, the age of the bike, its intended use, any modifications, market value
- Policy details – e.g. the level of cover you want, when you want the policy to start
- Add-on details – e.g. any additional cover you want added to your policy
- Bicycle security details – e.g. where the bicycle is kept during the day and at night, any nearby CCTV cameras, home security cameras, home security features
Why Do You Need Bicycle Insurance?
Cyclists need insurance to protect themselves against the very real threat of bicycle theft, including damage and injury. Having comprehensive bicycle insurance allows you to enjoy your cycling with peace of mind.
According to The Office of National Statistics, around 77,313 bicycles are stolen in the UK every year. Bicycles are not as cheap as they may have been in years gone by. The quality and sophistication of bikes and cycling equipment have improved, increasing their price. This is why they are frequently stolen and require insurance.
Who needs bicycle insurance in the UK?
Bike insurance is not a legal requirement in the UK; however, there are specific circumstances in which it is highly recommended.
You should get bicycle insurance if:
- Your bicycle is of high value
- It is used every day
- You use it for competitive racing
You may not need specialist bike insurance cover if:
- Your bike is old
- It is not worth a lot of money
- It is not used regularly
- It has adequate cover under your home insurance policy
What Does Bicycle Insurance Cover?
Basic cycle insurance covers you for accidental damage and theft, but these will not be covered when the rider is at fault due to negligence. The insurance cover will largely depend on the type of bike and what it is used for.
Let’s take a closer look at what can be covered under your bicycle insurance:
What’s covered
- Theft and accidental damage
- Personal injury and third-party liability
- Cover for events and competition
- Personal accident
- Vandalism
What’s not covered
- Accidents that occur while the rider is under the influence of drugs or alcohol
- Accidents as a result of reckless or unlawful riding
- Using your bike for monetary gain (e.g. courier)
- Loss or damage where there is no proof of ownership
- Damage to accessories unless the bike is also damaged
- Superficial damage that does not impair the functionality of the bike
- Theft if the bike was not secured correctly
What kind of bikes does bicycle insurance cover?
- Road bikes
- Electric bikes
- Mountain bikes
- Hybrids
- Commuter bikes
- BMX
- Folding bikes
Vintage, antique, and custom-built bikes may require specialist bicycle insurance. Bicycles of this variety may have a higher value, and parts may be more difficult to fix or replace.
What Are The Types Of Bicycle Insurance?
There are five types of bicycle insurance: theft only, accidental damage, personal accident, electric bike insurance, and multi-bike insurance.
Some cycling and bicycle insurance policies allow you to cover just your bike, just yourself, or a comprehensive version that combines both. Let’s explore these policies in greater detail.
Theft only
This insurance policy only covers the bike in cases of theft. This is a great option for cyclists who use their bikes regularly, like for commuting to work.
Accidental damage insurance
If you ride your bike off-road, it could become accidentally damaged at some point. Therefore, it’s vital, especially for off-road bikes, to have this cover. Likewise, someone riding a road bike is competing with cars and trucks on a daily basis which could lead to serious damage.
Personal accident
Any severe injuries, such as broken bones, sustained while cycling that require medical attention will be compensated by your personal accident cover. This cover includes dentistry, physiotherapy and counselling in the event of a traumatic accident. Cyclists who engage in riskier activities such as long-distance, competitive, and mountain biking should have this cover.
Electric bike insurance
If you own an electric bike, it is necessary to have this specialist insurance, tailored to your bike’s unique features and requirements. These policies provide cover for items specific to e-bikes, such as battery and component replacement.
Multi bike insurance
Serious cyclists tend to have more than one bike. In this case, it would make sense to cover multiple bikes under one policy.
What Levels Of Bicycle Insurance Can You Get?
There are two levels of bicycle insurance in the UK:
1. Third-party liability insurance
Any injury or property damage to a third party by the cyclist will be covered by liability insurance.
2. Comprehensive
Comprehensive bike insurance generally provides cover for accidental damage, theft, personal injury and third-party liabilities. Depending on the intended use of the bike, many cyclists add optional extras to their policies to suit their requirements.
What Add-Ons Are Available For Bicycle Insurance?
Add-ons for bicycle insurance include events and competitions cover, breakdown, cycling accessories, international travel, rescue and recovery, and excess.
Additional cover for bicycles is not a necessity, but you may find that some of these add-ons could prove to be extremely beneficial and even life-saving.
Events and competitions cover
For cyclists who regularly participate in events and competitions, this optional extra can be added to your standard policy which may not provide cover for these specific instances. These include damage to your bike or accessories, transit cover, personal injury, and race fee reimbursement.
Bicycle breakdown
Roadside assistance is provided to cyclists who, for whatever reason, become stranded. Those with e-bikes will especially benefit from this extra feature.
Bicycle accessories
Bikes are not the only cost when it comes to cycling. Additional equipment such as helmets, and protective and specialised gear can also fall victim to theft and damage. Accessories cover will ensure that all your cycling gear can be replaced easily.
International travel with a bicycle
Cyclists who travel outside of the UK with their bikes in tow can rest easy knowing that they are covered no matter where they are. Many competitive and professional cyclists opt for this added extra.
Cycle rescue recovery
This is a potentially life-saving add-on which should be used by all cyclists who endure rough terrains and long-distance rides in remote areas.
Excess protection insurance
A voluntary excess amount can be paid into your policy. This will provide cover should any shortfalls occur. However, excess protection insurance does not cover public liability claims.
How Much Does Bicycle Insurance Cost?
You can expect to pay between £100 and £300 per year on your cycle insurance. This will vary depending on the type and value of the bike in question.
What impacts bicycle insurance prices?
Further factors that may affect your insurance rate include:
- Bicycle type
- Bicycle value
- How often the bike is used
- The intended use of the bicycle
- Location of where the bike is stored, and where it is most used
- Your personal claims history
- Security
How Can You Get Cheaper Insurance?
You can potentially lower your cycle insurance rates by:
Opting for higher deductibles
When you opt to pay more money for an upfront claim, the amount you pay monthly will be lowered.
Taking advantage of no-claims rewards
Insurers reward cyclists who have made no claims and have kept up to date with their payments. These rewards will differ between brokers, but oftentimes you may receive a reduced premium.
Improving security
Ensure that your bikes (especially those of high value) are adequately stored and locked up when at home, and use approved bike locks if parked out in public. This lowers the risk of theft.
Registering your bicycle
Registering your bike and having it marked with a unique reference number allows for an easier identification and recovery process.
Adhering to the rules of the road
Your behaviour on the road will dictate how much of a risk insurance companies see you as. Apart from sticking to lawful regulations for your own safety, you demonstrate responsibility to brokers.
How To Compare Bicycle Insurance Quotes With SimplyQuote
Compare bicycle insurance quotes with SimplyQuote in just a few clicks:
- Fill in the short form: Tell us about yourself, your bicycle/s, and where you live.
- Select policy add-ons: Choose which optional extras you want to include.
- Effortlessly compare quotes: Find an affordable quote with SimplyQuote’s comparison tool.
- Save money: Experience cost savings like never before!
Frequently Asked Questions
Bicycle insurance provides cover for a cyclist and their bike. It protects against theft, accidental damage, injury, vandalism, and third-party liability. Policies and rates will differ depending on the type of bike and what it is used for.
Some home insurance policies may cover bikes, usually to the value of £500 – £1,000, but this may not be sufficient. If your bike is expensive, modified, or antique, it would be worth taking out a separate policy. Have a look at your home insurance policy to be sure of the exact cover provided for your bike.
You may unwittingly void your insurance claim if you:
- Modify your bicycle after it has been insured and do not notify your insurer.
- Knowingly leave your bike unsecured or use inadequate safety measures.
- Damage has occurred in a location where your bicycle is not covered.
- Damage occurs as a result of someone else using your bike.