Comparing cycle insurance and home insurance

Whether  you cycle to work, or if you’re a passionate road cyclist who loves getting out on
your two-wheeler as much as possible, cycling offers a wide range of benefits that are
increasingly appealing in modern society.

However, there are several considerations you need to bear in mind before setting off on any
journey. Just as you would wear protective gear to keep yourself safe, specialist cycle insurance exists to provide
financial protection for high-value bikes, sports equipment, medical expenses, public liability
and more. If your expensive road bike, BMX or electric bike is stolen or accidentally damaged, you
will be grateful for comprehensive coverage.In this article,
we’ll discuss how cycle insurance differs from homeowners insurance, and home contents insurance

What is cycle insurance?

Dedicated cycle insurance is a standalone policy designed to offer comprehensive cover if your
bike is stolen and/or damaged. As standard, the policy will
cover the cost of replacing your bike, but additional covers such as legal fees
or liability insurance are available to make this much more personalised and
relevant to your lifestyle (more on this below).

How is it different to home insurance?

Many of us assume that our bikes will be covered on our home contents policy, but this is not
always the case. Bikes are not always included as standard in home insurance
policies, and in many cases will be classed as an add-on that you have to pay more money on top of
your policy to protect.

However, with this type of cover, your bike is usually only insured while it’s on your
property. For example, if your bike is stolen from your secure home, it will probably
be covered by your contents insurance. If you are in an accident while out riding your bike, you
are unlikely to get any kind of insurance payout from your home insurance company unless they
provide ‘pedal cover’, which can add to your annual premium.

Additionally, the value of a bike on a home insurance policy will be very
limited. Many home insurers only cover bikes up to the value of £350-500, meaning you
could be out of pocket if the value of your bike is higher than this.

If you use your bike a lot or have a top of the range model, you will find that a specialist
cycle insurance policy is more worthwhile. Not only can this type of cover be
personalised for your particular needs, but it will simply do much
more for your bike than contents insurance.

For example, with ALA you can include worldwide coverage on your bicycle
insurance policy as an optional add-on. This means you can take your bike with you on your travels
abroad and enjoy peace of mind that it will still be protected on your insurance. Likewise, if
you’re a commuter and leave your bike secured with an
approved lock throughout the day, your cycle insurance will cover you if the bike is stolen.

Finally, household policies will only ever cover the bike and other personal belongings, not you.
If you are involved in an accident while out riding your bike, cycle insurance can provide much
more support than home insurance, including:

• Coverage for accessories like your helmet and clothing
• Provision of a hire bike while yours is being repaired or replaced
• Roadside recovery of you and your cycle if you are unable to complete your journey
• Financial compensation for serious injuries, permanent disablement or loss of life
• Cover for legal costs liability and expenses

Which policy is best for me?

If you already have home insurance, you may be wondering if it is worth taking out a cycle
insurance policy. In some cases, you may spend less on a home contents insurance policy with
‘pedal cover’ if the value of your bike is covered under your home insurance policy, it could be a
practical option..

However, cycle insurance offers you a wider scope and better quality of cover, especially for
more expensive kit. You will benefit from cover outside of your home, including abroad, if you
choose worldwide cover as an additional protection. This is ideal for the cycling enthusiast and
beginner alike, and is especially helpful if your gear is high-spec.

Cycle insurance with ALA

ALA Cycle Insurance is an excellent choice if you are passionate about keeping your bike safe.
Unfortunately, bike theft is common and road accidents do happen, and our policy is designed to
help. It will protect you in the event of an accident while out and about, or if your bike is
stolen while secured on your property or in a public area. Our cycling insurance covers bikes
up to the value of £15,000—much more than what you would get on home insurance.

If your bike was purchased brand-new, and is less than three years old at the time of the claim,
we will replace it with a new-for-old alternative. If it was purchased second-hand, or is more
than three years old at the time of the claim, we will replace it with a like-for-like alternative
. If you have a BMX, e-bike, road cycle or touring cycle, or you
use your bike to
commute, we’ve got a policy just for you.

As well as several types of cycle insurance, ALA offers a number of optional covers and a greater
level of flexibility than you will find with contents insurance. Optional policy add-ons include
worldwide coverage, personal accident cover, legal expenses,
cycle rescue, replacement cycle hire, competing cover and commuting cover  These covers, as
well as our policy exclusions and restrictions, are detailed in our Insurance Product
Information Document (IPID).

Getting a bicycle
insurance quote couldn’t be easier. For more information about our policy or to discuss your
options, contact a member of our team.