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Protect your bike with theft insurance through Cycleplan
With more investment in cycling infrastructure and more incentive to travel greenly than ever before, there’s arguably never been a better time to own a bike.
But with such a boom in cycling popularity sadly comes the inevitable risks. According to Office for National Statistics data, almost 80,000 bikes are reported stolen in the UK every year.
However, bike theft insurance through Cycleplan is designed to protect you and your bike should it get stolen.
Why consider bike theft insurance?
Whether you’re a daily commuter, weekend adventurer, or anything in between, your bike is understandably an important part of your life. Bikes can cost a lot of money to buy and maintain, so the thought of them being stolen or damaged can be very upsetting.
Even if you’re careful when storing your bike or leaving it unattended, the risk of theft will always be present.
That’s where bike theft insurance can help cyclists. Providing your bike was locked to an immovable object with an approved lock at the time of the theft, and other general bike security requirements have been met, bicycle theft insurance through Cycleplan can cover you.
What does bike theft insurance cover?
Whatever type of bike you have, bicycle theft insurance can cover it for theft and damage up to £30k.
But that’s not all, policies through Cycleplan can be tailored to suit your specific needs so that you can choose the level of cover you feel best suits you.
Through Cycleplan, you can also get the following as well as theft cover:
Bike theft insurance
- Public liability up to £5m
- Personal accident up to £50k
- Loss of earnings up to £750 per week
- Replacement bike hire up to £1k
- Competitive use
- Non-refundable race fees – Covers the cost if you could not attend due to injury or a valid bike claim up to £250
- Taxi fee reimbursement up to £50 towards the cost of getting home following an accident on your bike
- Multi-bike policy
- Theft where the security requirements listed in the IPID have not been met
- Claims where evidence of ownership cannot be provided
- The use of the bike for trade or business purposes (excluding commuting to or from work), hire, reward, courier use or carrying paying passengers
- Any accident whilst the bicycle is being used for competitions, unless this option has been selected and the additional premium paid for
- Public liability is not available to anyone under the age of 16
For more information, visit our Important Documents Page.
How to prevent bike theft
There are several things you can do to reduce your chances of bike theft.
1. Register your bike
Registering your bike can help the police identify it and increase the chances of it being found. Bike Register is the UK’s national cycling database, which offers bike registration free of charge.
2. Invest in a bike lock
For your bike theft insurance to remain valid, your bike needs to have been locked with an approved lock at the time it was taken. Through Cycleplan, your lock must be either Sold Secure rated or Thatcham-approved.
For more information, check out our Approved Locks page.
3. Learn how to use your lock
Even if you have the best-rated, most expensive bike lock, it’s irrelevant if you don’t know how to use it properly. There are many elements to locking up your bike correctly—some you may not be familiar with.
For more information, check out our Bike Security page.
4. Be location-savvy
Bikes can be stolen from almost anywhere, but some areas are more popular than others. On-street is arguably where bikes are most vulnerable, but studies show around two thirds of UK bike thefts actually occur in and around the victim’s home. Avoid isolated spots or locking it to objects which can be moved to make sure your theft insurance remains valid.
5. Don’t be fooled by home comforts
Many cyclists don’t bother with the effort of securing their bikes once they return home from a ride in the belief that their property is enough of a deterrent—but it’s not. When you return home, ensure that your bike is properly secured.
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Yes, your bike will be covered providing it was secured to an immovable object with an approved lock and was not left for more than 24 hours at any one time.
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Yes, but second-hand bikes should be insured for their second-hand value, not their original value as brand new. This is known as the indemnity value.
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Yes, for your bike to be covered under your bike theft insurance, it needs to be locked to an immovable object with an approved lock. Through Cycleplan, this can either be a Sold Secure rated or Thatcham-approved lock.
If your bike is worth less than £500, you will need at least a Bronze-rated Sold Secure lock.
If your bike is worth between £500 and £999.99, you’ll need a Silver-rated Sold Secure lock.
If your bike is worth £1k or more, you’ll need either a Gold or Diamond-rated Sold Secure lock.
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Yes, your accessories are an important part of your cycling gear, so they can also be covered for theft from the home. Through Cycleplan, you can get cover for your helmet, shoes, jerseys, vests, glasses, goggles, helmet-mounted cameras, GPS units and lights, where there’s also a valid claim to your bike.
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