The Cycleplan Blog

Why bike insurance should be one of your New Year cycling resolutions

It’s that time of year again when we’re all under pressure to make a positive change in our lives by making a New Year resolution.

If you’ve decided that pedalling your way to fitness is the way forward than you’re not alone. An estimated two million people across the UK now cycle at least once a week, which is an all-time high according to British Cycling, the sport’s governing body.

The cycling industry is unsurprisingly enjoying a boom time with Halfords reporting that sales of its bikes were up 11% in 2015. Much of this growth was led by Halfords’ expensive ‘premium bike’ with sales up 24.9% in 2015 and 30% in 2014

For businesses in the cycling industry this means booming sales. At Halfords, which is responsible for one in three bikes sold in the UK, sales of its bicycles were up 11% in the year to 27 March 2015.

This growth was led by the retailer’s most expensive “premium bikes”, which saw sales expand by 24.9%, following growth of 30% in the previous 12 months. In addition to this sales of UK manufactured bikes rose by 69% in 2014, according to the Office for National Statistics.

Fuelling this boom is the continued rise in older bike riders who are using their disposable income to spend more on expensive bikes such as ultra-lightweight carbon models complete with high-end components.

If you’re one of the millions who’ve invested in an expensive bike this Christmas it’s probably about time you thought about insuring your bike. Every year in the UK around 500,000 cycles are stolen – that’s one every minute. Mistakenly, many cyclists assume their bikes are protected under household contents insurance, and it’s only when they make a claim that they discover there are limitations to this. To avoid these shortcomings it makes sense to take out specialist cycling insurance.

Having your bike stolen is a worry we all share and there isn’t one cyclist who hasn’t had their bike stolen or knows someone who has. Our insurance cover will put your mind at ease.

With the current cycling boom, there are more bikes on our streets, often left in poorly secured areas despite their high value, making them easy picking for bike thieves.

Although it sounds a little extreme, our bikes are an extension of ourselves. We pay out our hard earned money for them, we clean and maintain them, and whenever we get a chance, we spend as much time with them as possible. Those who don’t ride bikes will never understand the pain of having your bike stolen.

Find out more reasons to insure your bike and get an instant quote here

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