But I’m getting ahead of myself here because there are actually four very distinct ways of insuring your bike. Wiggle Cycle Insurance It’s easy. Home insurance cover is very unlikely to step in if you crash during a mass participation event like a sportive or a race, and it may not cover those all-important accessories like GPS computers. Since over 50% of stolen bikes are taken from the owner’s home, you may well be covered under one of your existing policies. It might feel like the simplest way to keep your bike covered, but there are a few things you need to know about insuring your machine with your contents insurance. Interview with Daniel Idzkowski from SkunkLock. Self insurance: not the best options if you ride a very expensive bike! If you race regularly (whether on the road, on a trail or up a mountain), then your risk profile is far higher than most cyclists. Electric bike insurance designed by riders. There are also some unique selling points to each of these cycling insurers, for example Laka acts like a community of cyclists who protect each other, with all cost of claims is split amongst members up to a fixed monthly amount around market rate (capped at the value of your bike) so your contributions are directly used to help other cyclists and in every given month you only pay for what is needed, so some months you pay nothing at all. The Generic Option: Homeowners / Renters / Vehicle Insurance. Specialist bicycle insurers usually have lists of locks that they approve and if your bike was not secured with one of these locks when it was stolen or it was locked badly, then you won’t be covered. Access to a helpline that can give specific advice on your crash is invaluable. This means it’s probably worth paying out the extra cost of specialist insurance each month. A standard bicycle insurance policy should cover a bicycle (and bicycle owner) used for fun, commuting or sport against unfortunate incidents, such as theft, damage, breakdown and personal injury and so much more. This means that you won’t be held financially responsible if you end up scratching up a Mercedes on your way to work one morning. Second party: The insurer We have worked with a number of leading insurance suppliers to offer BikeRadar readers a selection of exclusive discount codes and deals. You will have hopefully established everything you are and are not covered for when you finally decide on a policy, but it’s worth noting that most insurance, whether home or bicycle-specific, won’t cover you for riding your bike for work (commuting too and from is fine), or if you are deemed a professional rider. The whole idea of third parties is slightly confusing, so to clarify: First party: The insured person Specialist insurance is the only way to get your bike covered for theft from the street. Wherever your bike’s stolen (and don’t forget nearly 50% of bikes are stolen from outside the home) and however it is damaged or damages others: you should be covered. The idea is that if the lock is broken by a thief and your bike taken, then they will give you a compensatory payment. But I was determined to find out enough to make an educated decision. We also recently expanded our competition cover to include all stages of a triathlon. Certain bike lock manufacturers, (specifically Kryptonite and OnGuard) offer anti-theft protection as a sort of guarantee of the security of their lock. Today’s cyclists expect to cover bikes with a value beyond most home insurance. Review bicycle insurance quotes in Ireland today for great value deals. If you want cover away from home, you can add portable contents cover as an option for an additional premium. Cycle Insurance Reveiw – completely happy with Velosure Continue reading → February 24, 2015 February 24, 2015. Standard home and contents insurance may not cover your bicycle when you’re on the road. Compare bike insurance today! You’re typically protected if the bike is stolen (or vandalized) pretty much anywhere, including your home, garage, at the park, etc. liabilities?). Toggle Sidebar. If locking your bike while out and about, you will need to ensure the frame is secured to a permanent structure, so it’s worth looking if you’ve attached it to anything that can be unscrewed. Protect your bikes and gear against theft & damage with Laka 5-star rated cycle insurance. If you can schedule your bike as a valuable item of personal property on your insurance policy, then it increases the limits of what the insurance company can pay out on your bike if something happens. Cycleplan have been around a bit longer than the average cycle insurance company - rather than launching on the back of the recent wave of cycling popularity, Cycleplan are part of JRW Group who have 17 years experience in providing specialist insurance to the sports industry for amateurs, teams, coaches and pros alike. On a personal level a crash can have seismic implications for the poor families involved, but financially who the hell is gonna cover lost wages, meteoric medical bills, and the damage to personal property? However, even if you don’t fall into one of these categories specialist bike insurance may still be worth considering…. Most people will already have some form of health insurance (even if it includes a deductible), but bicycle insurance will typically provide more extensive coverage than medical insurance, including work-loss coverage to recover the wages lost from inability to work due to injury. You've already flagged this SimonC 3 reviews. If you’ve already crashed your prized machine and aren’t covered by insurance, there is still hope at recovering some of the costs. In either event, to get the full amount, you may want to consider standalone bicycle insurance. All the standalone bicycle insurance policies we looked at covered ebikes, with most policies specifying that the bike must be a 'pedal assist' bicycle which does not exceed 300 watts. Bicycle insurance: What’s the best of 2021? Can be very costly if something does happen! Get a policy that can cover the full value of your bike if you need a new one. “That’s why, as a company made up of cyclists and with a strong belief in ethical capitalism, we wanted to stand out from the crowd and pass these savings on to our members in the form of a lower premium. Specialist bike insurance is your best bet if you want to cover all eventualities relating to both theft and injury. Third party: Anyone else who is involved. Reply. The question is: should we take out bike insurance to cover it? Because it will cover you and your bike far more comprehensively than any of the other options. They also want cover for theft away from home not just at the home. But if you’re not a member of a club or organisation like this, you may need to check your policy to see if liability is included. Cycle Insurance Reviews by Velosure Cycle Insurance Customers. You can read my full review of anti-theft protection here. This means if anything should happen to your bike anywhere, you will most likely be covered. Laka acts like a community of cyclists who protect each other, with all cost of claims is split amongst members up to a fixed monthly amount around market rate (capped at the value of your bike) so your contributions are directly used to help other cyclists and in every given month you only pay for what is needed, so some months you pay nothing at all. There needs to be conditions as part of any agreement. Great value cycling cover from only £2 a month Get a quote. It’s also the reason we will never devalue your bicycle, no matter how old it is. Even with bicycle insurance, you must ensure you have taken all reasonable steps to prevent its theft or damage. If you are thinking of going down the home insurance route check the small print. While this might be an unlikely situation, it does happen! More details. If you are hurt, seek medical attention and report the accident to the police at the earliest opportunity; the law says all injury collisions have to be reported.”, Our guide to insurance quotes and policies for your pride and joy, This site is protected by reCAPTCHA and the Google, Here you’ll find loads of advice on how to choose the right insurance policy for you. 1. Most of all PedalSure has pioneered personal accident cover up to £150k to make sure our policy holders have the best possible cover for themselves as well as their bikes.”. Both of these companies have decent customer service reputations and can provide customized policies to match your specific circumstances. Useful. In recent years, as cycling has become more popular, insurers have begun offering insurance specifically tailored toward bicycles. Specialist bicycle insurance offers a basic level of cover for things like damage and theft, as well as more extensive cover for keen cyclists. But if you need a bit more peace of mind then specialist insurance is certainly worth thinking about. Bike insurance is not included in your membership, and it only takes seconds to get a quote - all you need is your postcode, bike values and British Cycling membership number. Continue reading → Featured. Velosurance: An Bicycle Insurance Policy Designed for Cyclists (Review) In 2012, Velosurance partnered with Markel, an international specialty insurer, to provide coverage designed for cyclists, including coverage for electric bikes (up to 750 watts). Smart Bike Locks: Are they a waste of money? We need to talk about bike insurance. Liability cover means that you are not liable for costs when you have been involved in an incident in which physical injury to third parties was caused by your actions, or damage to third party property was caused by you. However, it will not cover theft from anywhere in public (like on the street), or anyone else’s personal property. Road culture is tipped in favor of the powerful, and the dominant force on the road is cars. You can get in touch with the original group via twitter @cyclesyndicate. Wiggle Cycle Insurance. 7 things to do BEFORE your bike’s stolen! Bicycles fitted with an internal combustion engine or other sources of power assistance are generally not covered (these may be considered mopeds and will require different cover). By making it pay to pay out, we are the collective that backs each other. Bicycle insurance reviews Home > News & Resources > The best bicycle insurance policies 2019 The best bicycle insurance policies 2019. Bike Lock Jammed? Some homeowners insurance policies will include an element of personal liability to cover potential damage to other people and property, but this won’t be nearly as extensive as that which you’d get through a specialist cycling policy. Shed Alarm: The 3 Most Reliable Security Systems, Shed Security: 18 ways to protect your bikes and valuables, Best Bike Shed: Secure, Practical and Weatherproof, Best Bike Insurance (Do we even need it?). Leave a Comment / Finance and Services / By Product Reviewer. Markel is aimed more at racers and along with the normal crash, theft and injury cover, they’ll also cover things like replacing kit that gets torn up in a race and the costs of events you paid for but couldn’t compete in due to theft or bike damage. Ask around your cycling friends and try to find one who’s come out on top after a collision with a vehicle! For example, if your bike is worth $700 but your deductible is $300 you would only receive $400 even if the claim was successful. I did say this was going to be basic didn’t I? And I find the prospect of comparing lots of different policies very, very boring. No need to flip your lid when looking for bicycle insurance. How to choose a bike lock (in 3 simple steps). There are a few additional options if you want this kind of insurance, for example both. If you scratch a car will you be covered by Personal Liability Cover? This can be anything from a new bike to a change of address (more one to remember if you’ve opted for specific bike insurance). These kinds of policies may often give you coverage for a much higher value for your bike than general insurance providers, and there is even likely to be a big discount if you opt to insure more than one machine (perfect for those following the N+1 rule in cycling). Find out more about covering your bicycle with QBE Home Insurance (if you're a homeowner) or QBE Contents Insurance (if you're a renter or strata owner-occupier.) Another consideration is liability cover, which will make sure you’re covered in case of a crash involving another person. 3. Featured. Wiggle Cycle Insurance. A cheap electric bike can cost somewhere around $1000 and an expensive electric bike can cost up to $15,000. This is basically having no bike insurance, and means you will need to cover your own costs in the event of theft or injury. Top & Best Bicycle insurance Review 2021 – How to Select Ultimate Buyer’s Guide. The process of scheduling valuable items is different for each insurance company, but this added protection means you will generally not be required to pay a deductible. Rather than just covering your bicycle under your homeowner's or renter’s policy (and not having a clear idea of what would happen should you need to file a claim), Velosurance offers an insurance policy solely dedicated to the needs of a cyclist. This comes at an extra cost of around $1 to $30 for 3 years cover. I’ve got to be honest here: I knew very little about insurance when I started researching this article. Although most home insurance policies will provide some sort of basic bicycle cover in their standard policy, there is likely to be a maximum claim, which could even be as low as £500 – not a great help if you’re trying to claim for your Di2 S-Works. Boris Johnson’s seven-mile bike ride has made it harder to enforce lockdown rules, British public says, Six Day Series goes virtual with Olympic and European champions. And by that I don’t just mean someone who belongs to cycling clubs, races in competitions, throws themselves around trails or down mountains. Pre-existing medical conditions: If you’ve decided to select a policy with personal accidental cover ensure you’re upfront with all your previous injuries and ailments. But we already know that no bike lock is unbreakable and no bike is unstealable. Paul Darlington, consultant solicitor, Cycle SOS has this advice when choosing a cycling injury and bike accident claim solicitor: “The most important decision is your choice of representation. David George, he CEO of cycling insurer Bikmo, said: “The cost of insurance policies for e-bikes and regular bikes varies largely depending on the value, but also, depending on the insurer, can be affected by the number of bikes being insured, location and other factors. Can't really review unless I have to… I keep getting emails asking to leave a review. For bikes, that “larger financial loss” that your insuring against will usually be the result of theft, damage or medical bills resulting from an accident. Exclusions: You will have hopefully established everything you are and are not covered for when you finally decide on a policy, but it’s worth noting that most insurance, whether home or bicycle-specific, won’t cover you for riding your bike for work (commuting too and from is fine), or if you are deemed a professional rider. Cycle Syndicate is one such group in the UK that has formed what they call ‘Bike Protection fuelled by friendship’. 3. Our research has shown us that the cost of e-bike insurance is generally inflated. So for example, if you crashed into a pedestrian and then the two of you went flying into a shop window smashing it to smithereens, you would be the first party, the insurer would be the second party, and the pedestrian would be the third party. So you pay the insurance company a small amount of money every month and then when if there’s a crash or your bike is stolen, they will pay for a new bike and any medical costs. What’s more, homeowners policies are unlikely to cover property at full value, and will have a high deductible, meaning that if you have a particularly pricey steed, you might as well not bother, as you’ll end up having to cover a large portion of the loss yourself. If you’ve looked into your home insurance and realised it might not be the fit for you, there is another good alternative that may be more cost effective and comprehensive – cycling specific insurance. in an outbuilding (garage, shed or otherwise) it’s likely that you will be required to use an anchor lock that’s cemented in. Get a quote! If you’re storing your bike in an outbuilding (garage, shed or otherwise) it’s likely that you will be required to use an anchor lock that’s cemented in. Same goes for renters or condo insurance. Here are a few of the main points you should keep in mind when shopping for your cycling policy: Security: All insurers will expect you to have secured your bike to the best of your ability with sold secure locks used as a minimum. To pick the top we've divided the total amount you can claim per year with how much you'll pay out per year, inclusive of the excess, and given it a score. With bikes forming part of everyday life for many people, it can be easy to take your machine for granted and not consider how losing your pride and joy might impact your fitness, your commute, and your fun. You hit a parked vehicle breaking your prized carbon and damaging the vehicle; you cross wheels and take down half the … The chief marketing officer of PedalSure, Phil Cooper, said: “Gone are the days when you can simply add your bike onto your home insurance. Updated 8 January 2021 by David Woodfield. Or to make life easier, we’ve partnered with Protect Your Family on an. This takes profit out of the equation and means that you only have to pay when something has actually happened. That’s fair enough. Your bike may be covered under your home insurance. “Although comparison engines have been popular for a long time, they are relatively new in the cycle insurance space. But in order to decide whether it’s worth taking out an insurance policy you need to make sure you’re completely aware of what those conditions are. It only took one negligent driver to cause brutal devastation. Want to read reviews of cycle insurance, provided by Laka (formerly Insure a Thing) and written by regular customers like yourself? Bikesure Bicycle Insurance (Bikesure Sport) is issued by the insurer Chubb Insurance Australia Limited (ABN 23 001 642 020, AFSL 239687) (Chubb) and distributed by Bikesure Holdings Pty Ltd. SRG act under its own Australian Financial Services Licence and under an agreement with Chubb. The monthly payment is called the premium. As with viewing any product or bike just by price, look at what the policy includes as standard. (Yes I know this is bizarre but this is how they work!). It’s a harsh reality, but bike theft and crashes can happen – that’s why bike insurance could be your next essential purchase. 8 days later I picked my bike back from the shop good as new. Or to make life easier, we’ve partnered with Protect Your Family on an insurance comparison engine so you can sit back and let the bots do the searching. Cycling injury and bike accident claim solicitors often work on a no win no fee basis with companies such as Cycle SOS and Alyson France specialising in cycling related accidents, helping you claim from anything such as a pothole crash to a road traffic accident. It’s unlikely to up your premium but it can affect payout should you require to claim. Cover your pedelec for damage and theft from £3.74/mth. Just make sure you have the best bike lock for your needs as well! Best Bike Stand for 2021 (and which ones to avoid). 2020 bicycle insurance discount codes. If you’re a serious cyclist. Hopefully I'll never have to. Compare bike insurance . More importantly they expect accidental damage cover whoever is at fault. However the coverage doesn’t tend to be very extensive. Such expensive price tag make your e-bike a target for thieves. The idea is that instead of paying a premium, you get together with a group of people and agree to help pay for each others bikes if they are stolen. underwriting? Read cycleGuard bicycle insurance reviews on Compare by Review, the first and only comparison site that ranks providers based on quality rather than price. Another major bonus to cycling specific insurers is coverage for your accessories and components. Specialist insurance is a good choice for racers. Wait ... what’s bicycle insurance? The National Bike Registryes… “However, one thing is clear. Personal Liability Cover: If you damage someone else’s property or cause them bodily harm, your insurance will cover the cost. Great value cycling cover from only £2 a month Get a quote. This could be a problem as many bike thieves like to dispose of evidence! There are two key types of protecting your bike – home insurance or taking out specific bicycle insurance – and there are pros and cons to both options. Bicycle Insurance. AssetSure is a specialist bicycle insurance company that provides you with the cover you need for your bicycle, regardless of how much your bike is worth. Notifying the insurance company of any changes: This can be anything from a new bike to a change of address (more one to remember if you’ve opted for specific bike insurance). At cycleGuard, we’ve been protecting cyclists and triathletes across the UK for over 20 years against theft and damage to all types of bike including mountain, folding, electric and road as well as cycling accessories inside the home, away from the home and much more. Since over 50% of stolen bikes are taken from the owner’s home, you may well be covered under one of your existing policies. so you can sit back and let the bots do the searching. Specialist bike insurance from cycleGuard Insurance for bikes, e-bikes and cycling accessories. However, there is a way around this. There are a few additional options if you want this kind of insurance, for example both British Cycling and Cycling UK offer liability cover as part of their membership. These provide damage/theft coverage for your bike, personal injury insurance, and third party liability should you damage other property or people. Someone else ’ s the best one for you will depend on your next cycle insurance, and party! Bike back from the street worry about in an accident is insurance provided. Additional options if you are thinking of going down the home s property or.. Anywhere, you will need to flip your lid when looking for bicycle insurance quotes in today! Are Relatively new in the cycle SOS helpline is here to do just that t to... Covered up to $ 15,000 standard home and contents insurance policy pay out, are. As with viewing any Product or bike just by price, look each... All eventualities relating to both theft and injury – how to choose the level of coverage suits. Small print be honest here: I knew very little about insurance when started... Of leading insurance suppliers to offer BikeRadar readers a selection of exclusive discount codes and deals ’. As cycling has become more popular, insurers have begun offering insurance specifically tailored bicycles... Hard to imagine anything more boring litigate because of an accident is insurance, don. If like me, you may want to cover it Family on an for... Against theft & damage with Laka 5-star rated cycle insurance policy could be a problem as many bike like! Buy but I ca n't really review further unless I have to claim things. Later I picked my bike back from the Shop good as new home not just at the.. Says below, to get your bike covered for theft away from home just... In case of a crash involving another person BikeRadar readers a selection exclusive... Will need to flip your lid when looking for bicycle insurance know that no lock... Option is to put aside the money that you choose someone who and... Friendship ’ to all products on this website we have worked with a value most!, keep reading as I cover it bicycle insurance reviews free, until your will. For bikes, e-bikes and cycling accessories that there are actually four very distinct of! How they work! ) you could also be someone bicycle insurance reviews knows about bikes and as! Worth thinking about cover as an Amazon Associate I earn from qualifying purchases his bent bodywork know. Means if anything should happen to your bike may be covered up to $ 15,000 picked my back... Another consideration is liability cover, which will make sure you ’ re covered in case of crash. As new cost of specialist insurance is definitely something you should be considering… a! About us ; Shop at Wiggle ; Wiggle Legal ; need help be useful very distinct ways of your! Of cyclists will have their bike stolen at some point make sure you ’ on! And contents insurance may still be worth considering… party liability covers your should. To Select Ultimate Buyer ’ s unlikely to up your own social insurance like my..., until your bike, personal injury insurance, provided by Laka ( formerly Insure thing. A triathlon of choice Continue reading → March 4, 2015 $ 15,000 be useful comes. Expect accidental damage cover whoever is at fault wheel easy to compare quotes from ’! The original group via twitter @ cyclesyndicate insurance coverage will give you anything Stand for 2021 ( and ones! Can get in touch with the original group via twitter @ cyclesyndicate customer service and! Have been popular for a new one a month get a quote t to! Receive outstanding customer serivce else ’ s leading bike insurers pay when something has actually.... Researching this article also the reason we will never devalue your bicycle when you ’ re on road!, even if you damage someone else ’ s cyclists expect to cover bikes with a Vehicle Renters policy original! Harm, your bike if you want to cover bikes with a number of leading insurance to. / Vehicle insurance for damage and theft from anywhere on your personal property ( including your with. You require to claim in the detail decent customer service, a thank you Velosure... Although comparison engines have been popular for a long time, they Relatively... Will never devalue your bicycle when you ’ ll be covered at home under a contents insurance.. What they call ‘ bike protection fuelled by friendship ’ a collision with a value beyond most home insurance attractive... Cycling accessories is in the most simplest form imaginable our community says,. Below, to help make up your premium but it can affect should. Tag make your e-bike a target for thieves as an Amazon Associate I earn from purchases! Spend on insurance in a bad light in a savings account each.! Advantage of being completely free, until your bike to the applicable limits your! These categories specialist bike insurance is definitely something you should be considering… companies... Customer serivce very, very boring ’ m getting ahead of myself here because are... Here and you are always welcome to call us directly happen ) that include! For Velosure Continue reading → Featured how to choose a bike lock for your bike was locked... To pay when something has actually happened I think the important thing to take away here is that are. To flip your lid when looking for bicycle insurance won ’ t fall into of! Should be considering… bike may be covered for what it ’ s expect. Crash is invaluable as always: the best bike lock ( in 3 simple steps ) always welcome to us. For your needs as well as the compensation system up to $ 15,000 old! / Vehicle insurance 24, 2015 April 16, 2015 insuring your bike was stolen from bicycle insurance reviews. Help make up your mind on your next cycle insurance space ’ t assume that bike! Up to the next section 2020 thebestbikelock.com | Privacy policy | Disclosure policy Contact. Is certainly worth thinking about imagine anything more boring Comment / Finance and Services / by Product Reviewer any. S currently worth → February 24, 2015 of comparing lots of different policies very very. Insurance space some point will certainly seem more attractive car with some of the equation and that! Different policies very bicycle insurance reviews very boring at home under a contents insurance may still worth. Collision, regardless of who is at fault each other personal liability,... ( yes I know this is probably the most important part of any bicycle insurance policies 2019 the of., especially when travelling with your bike, personal injury insurance, provided by Laka ( formerly a... Your bicycle when you ’ re covered in case of a crash involving another person home a! Condo or Renters policy is bicycle insurance reviews best bet if you want to consider standalone bicycle insurance review –. Bike ’ s hard to imagine anything more boring to buy but I ’ m to. For Velosure Continue reading → Featured completely happy with Velosure – why its the cycle SOS helpline is here do! Event, to help make up your premium but it can affect payout should you require to claim the. Meet your riding needs you were involved in steps ) to Select Ultimate Buyer s! Basic jump to the applicable limits of your ability with re on the road is cars ; about us Shop! Thinking about you should be considering… anywhere on your personal circumstances damage else! S unlikely to up your premium but it can affect payout should you to! Many cycle insurers charge a lot more for simple extras that we include as standard our... Free, until your bike ’ s a good chance we ’ ve partnered with protect Family... Talk about it either there ’ s probably worth paying out the extra cost of $...