Bicycles have emerged as an alternative to motoring with fuel prices rising steeply across the country. However, if you choose to take to the saddle rather than sit behind the wheel of a car you should ensure you have suitable home insurance in place.
Choosing a bike instead of a car can save a significant amount of cash - no petrol to pay for, no road tax, no congestion charges and no car insurance. However, bicycle thefts have been on the rise with one insurer reporting a bicycle is stolen in the UK once every 65 seconds, which makes insurance vital.
There are several options for cyclists to consider. Firstly they can take out cover for the bike itself as a stand-alone policy or alternatively, they can take out third-party or personal accident cover. It is possible to take out bike insurance and this could be useful if your bicycle is particularly valuable as it may have unique cover options such as replacement hire, emergency recovery and even worldwide use if you plan to take your bike abroad.
However, for the majority of cyclists, adding a bicycle to a home insurance policy will be sufficient. Some offer specific cycle cover within their policies, while others allow bicycles to be included as an item under a standard contents policy. You should check to see exactly where your bike is covered - for example is it covered at home, in outbuildings, and will it also be covered in public places?
It's worth checking the level of cover before you buy - also pay attention to your excess so it's at a suitable level to make a claim worthwhile.
If your bike is not covered under your existing home insurance policy, you can compare home insurance online with a comparison tool to find more appropriate cover.