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Bicycle Insurance
Most cyclists, perhaps surprisingly, have no kind of insurance against theft or accident, but with numbers of cyclists killed and injured on the roads increasing year on year it is worth spending that little extra for the peace of mind.
Due to the fact that there is no legal requirement to insure a bicycle most don't, and the authorities are reluctant to discourage alternatives to car-use, but for a relatively small cost a bike can be covered as part of a household insurance policy. This is often an easier and cheaper alternative to buying a specific bicycle policy - simply adding the bike to your home contents list - but this kind of policy will only cover up to a certain value, so it is only applicable to less expensive cycles.
If the bicycle to be insured falls within a more expensive price bracket (four figures and upwards) then a household policy may not pay out enough to replace it in the event of a claim. In this instance a specialist policy might be more appropriate, as it can offer more specific cover and benefits, such as replacing new for old and third-party insurance.
With such policies it is worth checking with the insurer that your area is covered, as some companies are reluctant to cover cyclists living in major cities or high crime areas; private insurers are more likely to offer a complete package with injury, theft and third-party cover than a household policy but at a cost.
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