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What does Bicycle Insurance cover?
Bicycle insurance provides essential cover to protect your prized possession – your bike. The specific cover can vary depending on your policy, but generally, it includes protection against theft, damage, and liability. Here’s a breakdown of what bicycle insurance typically covers:
- Theft: If your bike gets stolen, your insurance can help cover the cost of replacing it.
- Accidental Damage: Whether it’s a minor scratch or major collision damage, bicycle insurance often covers repair or replacement costs.
- Liability: This cover comes into play if you cause an accident while riding your bike and are liable for someone else’s injuries or property damage.
- Worldwide Coverage: Some policies offer cover even when you’re traveling abroad, ensuring your bike is protected no matter where you are.
- Accessories: Many policies cover accessories like lights, locks, and panniers.
Remember that the extent of coverage can vary, so it’s essential to carefully review your policy to understand what is included.
Compare bicycle insurance options
When it comes to choosing the right bicycle insurance for your needs, it’s crucial to compare your options. Here are some factors to consider:
- Coverage: Compare the cover offered by different insurers. Look for policies that align with your specific needs, whether it’s theft protection, liability cover, or both.
- Premiums: Evaluate the cost of premiums. While you want affordable insurance, make sure you’re not sacrificing necessary cover to save a few pounds.
- Excess Check the excess – the amount you’ll have to pay out of pocket before insurance kicks in. A lower excess may mean higher premiums.
- Additional Options: Some insurers offer extra cover options, such as roadside assistance or cover for races and events. Consider whether these extras are relevant to you.
- Reviews and Reputation: Look at reviews and the insurer’s reputation for customer service. A reliable insurer can make a big difference when you need to file a claim.
Taking the time to compare insurance options can help you find the right coverage at the best value.
What not usually covered?
While bicycle insurance provides valuable protection, there are certain situations and items that are typically not covered. It’s essential to be aware of these exclusions, which may include:
- Wear and Tear: Normal wear and tear, such as tire tread or brake pad deterioration, is usually not covered.
- Racing and Competitive Events: Some policies exclude cover during organised races and events.
- Intentional Damage: Damage caused intentionally is typically not covered.
- Unattended Theft: If your bike is stolen, and you left it unattended without proper security measures, your claim may be denied.
- Unauthorised Riders: If someone not listed on your policy is riding your bike and gets into an accident, it may not be covered.
- Custom Parts: High-value custom parts or modifications may require additional coverage.
Understanding these exclusions is crucial to managing your expectations and ensuring you have appropriate coverage for your specific situation.
At Riviera Insurance, our customers’ satisfaction speaks for our reliability. Feel free to check our glowing Google reviews that attest to our excellence in provision and service.
What extras can I get?
Bicycle insurance often comes with the option to enhance your cover with extra benefits. Here are some common extras you can consider adding to your policy:
- Accessories Coverage: Extend cover to accessories like GPS devices, helmets, and cycling clothing.
- Roadside Assistance: Get peace of mind with 24/7 roadside assistance in case you experience a breakdown during your ride.
- Event Coverage: If you participate in races or cycling events, consider coverage that protects your bike during these activities.
- Personal Accident Coverage: This provides financial support if you’re injured while riding your bike.
- Legal Protection: Cover legal expenses in case you need to pursue a lawsuit related to a cycling accident.
- Travel Coverage: Extend your coverage to protect your bike when you travel internationally.
Adding these extras can tailor your insurance policy to your specific needs and offer more comprehensive protection for your cycling adventures.
How much is Bicycle Insurance?
The cost of bicycle insurance can vary significantly based on several factors, including:
- Coverage Level: The more extensive the cover, the higher the premium.
- Bike Value: Expensive bikes will have higher premiums since replacing them would be more costly.
- Location: Where you live can impact your rates, with higher theft rates in urban areas often resulting in higher premiums.
- Security Measures: Installing robust locks and security systems can lead to lower premiums.
- Claims History: If you’ve made previous claims, it may affect your premium.
- Excess: Choosing a higher excess can lower your premium but means you’ll pay more out of pocket in case of a claim.
To determine the exact cost of bicycle insurance for your situation, it’s best to request quotes from multiple insurers and compare their offerings.
How do I work out the value of my bike?
Calculating the value of your bike is essential for obtaining the right insurance cover. Here’s a simple guide to help you determine your bike’s value:
Original Purchase Price: Start with the amount you paid when you bought the bike.
Depreciation: Bikes lose value over time. Consider how old your bike is and its current condition. Bikes in excellent condition may retain more value.
Upgrades and Accessories: Add the value of any additional components, accessories, or upgrades you’ve made.
Market Value: Research the current market value of your bike. Online marketplaces and bike shops can provide insights into its worth.
Professional Appraisal: For high-value or vintage bikes, consider getting a professional appraisal to determine an accurate value.
Once you’ve calculated your bike’s value, you can use this figure to determine the appropriate coverage amount when purchasing bicycle insurance.
Download our FREE app
At Riviera Insurance, we want to help you. That is why we have developed the Riviera Insurance App to help you easily upload documents, view your documents, report claims and much more.
Does my home insurance cover my Bicycle?
Home insurance may provide some coverage for your bicycle, but it’s often limited. Here’s what you need to know:
- Basic Cover: Most home insurance policies include coverage for personal property, which can include your bicycle. However, this coverage is usually subject to a deductible.
- Limits: There is often a limit on the amount of coverage provided for specific categories of items like bicycles. If your bike is high-value, it may exceed this limit.
- Exclusions: Home insurance may not cover your bicycle if it’s damaged or stolen outside your home, such as during a ride.
- Deductibles: Remember that you’ll need to pay your deductible before your home insurance coverage kicks in.
If you have an expensive bike or frequently ride away from home, it’s advisable to consider standalone bicycle insurance to ensure comprehensive coverage.
Cycle insurance tailored for you
Get cover for your prized possession with Riviera Insurance’s comprehensive cycle insurance. We are here to make cycle insurance quick and easy.
What’s the difference between specialist cycle insurance and home insurance?
Specialist cycle insurance and home insurance differ in several key ways:
Cover Focus: Specialist cycle insurance is designed specifically for bikes and provides comprehensive coverage for theft, damage, and liability related to cycling. Home insurance, on the other hand, covers a wide range of personal property and home-related incidents.
Big enough to save, small enough to care.
Our staff are empowered to contact insurance companies and underwriters on your behalf, giving an entirely personal service across the whole UK with no call centres. We take the time to know your insurance needs to offer you the cheapest insurance policy.
With the added benefit of optional cover, options are to suit you and your pocket. So, finding cheap insurance has never been more simple.
If you are local to Torbay, you can even pop in and see us arrange your insurance at our high street office on Union Street in Torquay.