Guide to Bicycle Insurance

Attempts to become more environmentally friendly and reduce our carbon footprint have resulted in many more of us making use of the faithful bicycle. Whether you've spent £100 or £5,000, when you look at the theft statistics, you'll soon be wishing you'd arranged bicycle insurance sooner!

Recent figures show that bicycle theft increased by 10% last year alone - bringing the total number of stolen bicycles to 439,000. That means a bicycle was stolen every 71 seconds in the UK last year with thieves pinching £146 million worth of bicycles. Still wondering why you haven't already sorted your bicycle insurance?!

Benefits of bicycle insurance

Depending on the value of your two wheeled companion, bicycle insurance is becoming an increasingly important purchase. The need for bicycle insurance is heightened for those who live in urban areas where the majority of the bicycle thefts take place. In reality, common sense should prevail as you'll need to match the bicycle insurance against the value of what you stand to lose. For top of the range and expensive bicycles, this can be substantial. However, for less expensive bicycles, insurance can barely be justified.

Elements of bicycle insurance cover

Although theft is usually the main reason for buying bicycle insurance, you should expect fire, accidental loss and damage of your bicycle and accessories to be covered - up to a certain insured sum. When you're looking at bicycle insurance policies, check the details regarding new-for-old cover, the costs of hiring a replacement bicycle, emergency recovery and European use - if you manage to travel that far or take biking holidays abroad.

Personal accident protection may also be included in your bicycle insurance policy. This element of cover gives protection against accidental injury and public liability whilst using the insured bicycle.

Bicyle Insurance Companies

Should you decide to insure your bicycle on a separate policy to your home contents insurance, here's a useful list of bicycles insurance companies who can offer specific policies for your needs:

• Bicycle Insurance Comparison