Cycle to Work Scheme – why bike insurance is important
Published: 14 September 2009
By MoneyHighStreet Staff 1 Comment
Updated: 14 September 2009
Continuing our series of articles about the benefits of the Cycle to Work Scheme, we show why having good bike insurance is important.
Bikes and cycling accessories are expensive. Most bikes cost around £200 and it is not difficult to pay £500 for a bike that is good for cycling to work regularly.
Unfortunately statistics show that a bike is stolen every 65 seconds in the UK so it is important to have good bike insurance.
Even though there are some good bike locks and immobilisers on the market, it doesn’t take long for a thief to steal your bike with a pair of strong wire cutters.
The local Halfords store, for example, was securing each of the more expensive bikes with two huge cycle locks. Apparently thieves come into the store and cut a chain with wire cutters and then run off with the bike before the staff can react.
Having two chains on each bike deters the thief, but is plainly impractical for a cyclist in the street.
Although your bike may be covered by your home contents insurance, you should check that this covers the value of you bike and all the accessories, including any specialist cycling clothes.
Public liability Insurance
Whilst having cover for the theft or damage of your bike is obviously important, there is another consideration that you may not have thought about – your liability to the public whilst cycling
What happens if you scratch someone’s car as you cycle past, or cause an accident? Even run over someone’s dog.
A liability claim can be very large and cyclists should ensure that they have adequate cover, even if theft and damage to their bike is covered by home contents insurance.
CycleGuard offer public liability and third party insurance cover for cyclists with their RoadCare policy. This provides separate cover from their bike insurance scheme.
Having good theft and damage insurance for your bike and public liability insurance for yourself is important, however taking suitable precautions and being sensible plays a big part in your bike security.
Many commuters who cycle to the station, for example, decide to buy a cheap, but functional bike, for around £100. A few scratches and a dirty appearance will dissuade a thief from stealing it whilst you are at work.
Even though many of these commuters could afford, and probably want, a better bike, it is better for them to have their beaten up bike waiting for their return, rather than having a gleaming top quality bike stolen within minutes by determined thieves.
Modern road bikes are light and fast. Cyclists can generally exceed 30 mph on these bikes fairly easily, particularly down hills so they should take as much care on their bikes as if they were driving a car.
Given the vulnerability of a bike in traffic, the cyclist should be very vigilant and concentrate on the road and other road users, anticipating hazards, thereby ensuring a safe and enjoyable cycle.