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Need bicycle insurance? Here’s everything you need to know

Need bicycle insurance? Here’s everything you need to know
Image source: Getty Images


You don’t need bicycle insurance to ride on UK roads, but it is useful for a number of different reasons. This article tells you all you need to know.

Who needs it?

You should think about getting your bicycle insured if you fall into any of the following categories:

  • Your bicycle is expensive to replace – A specialist bicycle can cost as much as £12,000, so buying one is a big financial commitment.

  • You rely on your bicycle – If you use your bicycle to get to work, college or school on a daily basis, then its absence would be immediately missed. In addition, it’s a sad fact that you are more likely to be in an accident, purely because you spend more time on the road.

  • You are a keen cyclist – If you use your bicycle to participate in events such as triathlons or races, then it is worth getting insurance cover.

Is it worth it?

Unfortunately, bicycle theft is extremely common, especially if you live in a major town or city. In addition, while most accidents on the road involving cyclists are thankfully not fatal, equipment damage is also a common problem.

It is therefore worth insuring your bicycle against damage and theft at the very least.

Where can I get bicycle insurance?

You can get this type of insurance through two main sources:

  • Your home and contents insurance
  • A specific bicycle insurance policy

Using your home and contents insurance tends to be best for non-specialist bicycles that are used every day. This is because there will be a maximum claim amount per item which is unlikely to cover a high-end specialist model.

If you have home and contents insurance, check your policy to make sure you have the right level of cover. Things to look out for include the excess if your bicycle is stolen. This could be as much as £100. This might not seem much, but if your bike is worth £150 then it’s a bit pointless.

If you are a cycling enthusiast, then you need to seriously consider specialist insurance. Many insurers provide this, including British Cycling which offers discounted cover.

What type of cover do I need?

You should insure your bicycle against theft and damage.

Bear in mind that most insurance companies expect you to secure your bicycle at all times. Make sure you have a secure area to store your bike while you are at home.

If your bicycle is stolen, you may not be covered for any loss if your bike was not properly secured when the theft took place. If you break the law and cause an accident, you may not be covered for any subsequent damage to your bicycle.

How much does it cost?

This will depend on the replacement cost of your bicycle. As a rule of thumb, bicycle insurance should cost no more than 10% of the cost of your bicycle.

So, if your bicycle costs £600, insurance should cost no more than £60.

Take home

Bicycle insurance is worth it, but you will also need to take responsibility.

Invest in a good bicycle lock. Most cycle thieves are opportunists, so the best deterrent is to make your bicycle difficult to steal.

Take responsibility while on the road. Take care while cycling and have consideration for other road users. This will help prevent accidents.

What next?

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