Despite its benefits to the environment and your health, cycling doesn't come without risks.
If you're one of those unlucky enough to find your bike damaged in a collision or stolen, bicycle insurance could prevent you having to cover the cost of repairs or replacement yourself.
You may be able to cover your bike on your home contents insurance, but you can also buy a separate policy that offers tailored protection for your cycling routine and bike.
Just make sure you’re not doubling up on cover by buying both, or you’ll be paying for insurance you don’t need.
Specialist cycling insurance offers a basic level of cover for things like accidental damage and theft, as well as more extensive cover for keen cyclists.
For instance if you own an expensive bike, such as those used for races or competitions, specialist insurers are more likely to offer a level of cover tailored to your needs.
Specialist insurance will often include cover for:
Bicycles are often covered as standard by home contents insurance policies but it's important to check they offer the cover you need.
Home insurers will often only cover bicycles for accidental damage and theft, and may not cover your legal expenses in the event of a claim for damages that occur away from the home.
If you require these features you can usually add them on to your policy as an optional extra.
Be aware that there will probably be a single value limit for how much your home insurer will cover your bike for.
So, if your bike costs £1,000 and your insurer's single item limit is £800, you'll need to cover the remaining £200 yourself if you need to claim.
Finding a quote for your bicycle doesn't take long. You’ll just need to fill out a few details about you and your bicycle first to get started. Here's what you'll need:
The type, make and value
Excess amount, accessories cover, replacement cycle and no claims discount
Do you need cover for personal accidents or competition use?
What locks and alarms you have installed
Your name, address and age
Your bicycle insurance quote will be calculated based on your circumstances and take into consideration what kind of bike you ride and its value.
Mountain bikes, street bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. If you’re riding a self-built custom bicycle, you can get insurance for your bike’s unique specification.
If you need to make a claim, it’ll reflect the true value of the bike. Just make sure your insurer’s aware of any modifications before you buy a policy, otherwise you might not be covered.
If you're a delivery cyclist or use your bicycle for any trade or business purposes, you may find you're not covered by your insurance.
The minimum age accepted for specialist bike insurance is 14 years old. If you choose family cover as an optional extra, you may be able to cover young riders of 14 or above on your policy.
According to the Department for Transport
There were 317,000 incidents of bicycle theft in 2018, according to the Crime in England and Wales Survey
In July 2019 the average annual price for a bought bike policy at GoCompare.com was £277.27