How is cycling insurance different to home insurance?
“I don’t need cycling insurance.”
“My bike is already covered on my home insurance.”
Sound familiar?
Although you might assume that your standard home contents insurance will cover your bike and its accessories, this may not always be the case.
In fact, many home insurers may ask you to pay an additional premium to cover your bike, and even then, there’s no guarantee you’ll be covered to ride it.
That’s why if you use your bike regularly, specialist bike insurance might be a better option. Check out the scenarios below to see how specialist cycling insurance can cover you in ways that your home insurance might not.
Scenario 1
Joe has home insurance. As part of his policy, his bike is also covered for accidental damage in his garage up to £500.
Joe is out cycling one morning when he’s involved in a collision with a car. Joe is fine but his bike is badly damaged and needs expensive repairs.
When Joe gets home, he logs onto his computer to start a claim on his home insurance for the damage to his bike. However, he quickly realises that his home insurance only covers damage to his bike when it’s kept in his garage, and not while out on the road.
Therefore, Joe cannot make a claim and will have to pay to repair his bike himself. However, had Joe had specialist bike insurance through Cycleplan, he would have had cover up to £30k for accidental damage available, and may have been able to reclaim the cost of the repairs.
Scenario 2
Emma’s bike is worth £5k and is listed on her home contents policy. One night, while Emma is asleep upstairs, thieves break into her garage and steal her bike, which was locked to a wall panel.
The next day, when Emma realises her bike has been taken, she informs the police and starts making a claim for the bike on her home insurance.
Emma then realises her home insurance only covers bikes up to £1k. She had no idea about this previously and is shocked and upset to find out that her bike will not be fully covered.
However, had Emma had specialist bike insurance through Cycleplan, she would have had cover up to £30k for theft from the home available.
Scenario 3
Christine is cycling to work when she falls off her bike and breaks her arm on the side of a busy road.
Later on, in the hospital, she remembers that when she renewed her home insurance last year, she added Bike Accidents to her policy.
When she gets back home, Christine calls her home insurance company tell them about the accident. However, she's told that her Bike Accidents only covers accidents that occur on the home premises. Therefore, Christine is unable to make a claim.
Had she had specialist cycling insurance through Cycleplan, Christine would have had cover available up to £50k for cycling-related Personal Accidents inside and outside the home.
Scenario 4
Neil is cycling through the countryside when he suddenly loses control of his bike, crashing into a tree.
His expensive cycling shorts and waterproof jacket are badly torn, so he wants to submit a claim for these as part of the cycling cover he pays extra for on his home insurance.
Later on, Neil calls his home insurer to explain what’s happened. Unfortunately, however, he is told that his cycling gear is not covered—only his bike.
Neil will now have to pay to replace his clothing himself. However, had he had specialist cycling insurance through Cycleplan in place, Neil would’ve also been able to claim for the damage to his accessories up to £1k as well as the damage to his bike.
Do you recognise yourself in Joe's Emma's, Christine's or Neil's story?
At Cycleplan, we know that cycling is far more than just your bike, and we know that every cyclist is different. That’s why when you take out a policy through us, you’ll get a range of additional cover to choose from to suit your individual cycling needs.
For complete peace of mind, get a quote today to see how specialist cycling insurance could help you.
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