There are now a number of insurance companies specialising in bicycle insurance. Some of the most popular are Bikmo Plus (part of Hiscox), Cycleguard (Thistle), Yellow Jersey (The Plan Group), Endsleigh (mainly for students, Zurich), Pedalcover (Kingswood), Velosure and, PedalSure and ETA.
You can also get insurance from bike shops like Evans Cycles (also part of Thistle), and even organisations like British Cycling (with membership).
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When dealing with these companies or organisations, you’ll want to ask the same questions as with home insurance policies, and make a few extra considerations.
– Does the policy repay the value of your bike in cash or as vouchers to use in a specific shop? You may not have a preference, but it’s important to know what you’ll receive in case you need to make a claim.
– Do you take part in races of any kind? That includes sportives as well as triathlons, cyclocross races, whatever. This is important when considering liability insurance if someone is injured, as well as the possibility of a bicycle being stolen from a race transition area. Some policies even provide race cancellation cover!
– Do you want your gear to be covered too? Sometimes your extras can be worth as much as the bike! Think of specialist clothing and accessories like bike computers.
– Consider personal accident insurance: sometimes it’s included, sometimes it’s an extra.
– Finally, what’s the interest on paying monthly? Does including this extra fee skew your quote?
