Cycling is one of the most popular recreational sports activities in the UK.
In fact, almost five million cyclists are on the road twice or more a week so it's unsurprising that there are many options when it comes to insuring your bike.
Bikes are getting more and more sophisticated and expensive and, with added accessories and computers, it certainly makes sense to make sure it’s insured just like your car is.
The main difference between the two is that bike insurance isn’t a legal requirement – but when you consider that some mountain bikes cost more than some cars – it’s certainly worth parting with some money every month to ensure you won’t be out of pocket if anything happens to the bike.
What does it cover?
Mountain bike insurance keeps your bike protected should the worst occur, covering you for a whole host of eventualities from theft and vandalism to accidental damage and dangerous collisions.
Most policies will cover damage/ theft, legal expenses, replacement cycle hire and accessories.
There are optional extras to consider too which cover public liability and personal accidents claims as well as EU cover and competition use. Some insurers may also include roadside recovery as standard, which can be very appealing for people who rely on their bikes as their main mode of transport and don’t want to be left standing on the side of the road.
There are also policies for more serious cyclists which are great for those who regularly enter events, cycle abroad or compete in races. They typically include competition cover with perks such as dental or physio cover.
If you are planning to cycle abroad, you may need an extra policy, particularly if it’s outside the EU.
Many specialist insurance companies offer low rates for first-time insurers as well as discounts for more than one bike so it’s definitely worth shopping around for a good deal. Some specialists completely waive the excess on claims, set no maximum limits on the value of your bike, and cover you for using your bike in sporting events.
Do you need it?
If you have a top of the range bike that is expensive to replace if stolen, you use your bike very day to get to work or you race frequently, then it's definitely worth it.
If it's a cheap bike that is rarely used, and it's covered under the home insurance policy, it's probably not worth getting extra cover.