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Cycle insurance: can I have it?

If you frequently go cycling, you may not consider insuring your bike as a top priority. However, around 376,000 bikes are stolen each year in the UK, and without insurance, some may never see any reparations. By insuring your bike, you can protect yourself from any shortfall and get back on the road as soon as possible.

In this guide, we will explain the basic criteria you need to meet to qualify for cycle insurance, as well as the restrictions in place and why having cycle insurance is so important.

Do I need cycle insurance?

Cycle insurance is a great asset to have for many keen cyclists. It can protect you from accidental damage and bike theft, and our policies at ALA even protect you if you go cycling abroad, so you don’t have to add on to your travel insurance. If you cycle often, or it is your main mode of transport for commuting, having your bike damaged or stolen can leave you immobile and lead to various issues. By insuring your bike, your insurer will cover the cost of repair, or will replace your bike if it is damaged beyond repair or stolen.

Cycle insurance is incredibly important if your bike is valuable, as you don’t want to lose out on the cost of the bike. Our policies cover bikes worth up to £6000 in value, and we will replace the bike on a new for old basis if it is less than three years old, or like for like if it is older.

Our policies also come with optional extras, such as public liability, replacement hire and personal accident cover.

Am I eligible for cycle insurance?

To retrieve a quote for cycle insurance, there are criteria you must meet in order to be successful. These include:

  • Finding your frame number: each bicycle will have a frame number, which can usually be found under the bottom bracket. If your bike has a carbon frame, it will be displayed on the surface or on a sticker. Sometimes, it will be on the inside of the chain stay or on the down or top tube.
  • Being a UK resident: only those living in the UK and Northern Ireland, Isle of Man or the Channel Islands will be eligible for cycle insurance
  • Your bike is worth less than £6000
  • The bike is in good working order: if your bike was already worn or wasn’t working optimally, you may not be able to claim for accidental damage or theft
  • Proof of purchase if the bike was second-hand: if you purchased your bike second-hand, you will either need a receipt or evidence of insurance replacement.

Cycle insurance restrictions

Cycle insurance may not be available to you on an ALA policy for several reasons. If you do not qualify for one or any of the eligibility points mentioned above then you may not be able to apply or retrieve a quote for cycle insurance.

If your bicycle is worth more than £6000, you won’t be eligible for an ALA cycle insurance policy. Also, for all claims to be valid, you will need your bicycle’s frame number. Failure to provide one will result in an unsuccessful claim. The bike must also be in good working order, and you must have proof of purchase, such as a receipt. Security requirements are also key, including having a lock appropriate to the value of your bike, and keeping the cycle in a secure location.

If you believe that you are eligible for cycle insurance, you can retrieve a quote from us here.

Should I choose cycle insurance or cover it in my home insurance?

By choosing cycle insurance, you can have the peace of mind that your bike will be protected in the unfortunate event of theft or accidental damage. Whilst some may believe that their bike will be protected in their home contents under their home insurance plan, this isn’t always the case. Also, if your bike is insured under your home insurance plan, it will more than likely only be protected on the property.

Home insurers won’t pay out as much as you would expect for the theft or damage of your bike, whereas a cycle insurance policy will either make up the value or replace your bike completely. Cycle insurance policies can be tailored to your needs, with optional add-ons to protect you in most worst-case scenarios. One of our extras includes public liability, which means we can cover you if you injure someone else or damage someone’s property whilst out on your bike.

With a home insurance policy, you may not see the benefit of having your bike included as an asset. A cycle insurance policy is dedicated to you and your bike and will cover you whether your bike is damaged or stolen at your home or away. We do, however, require you to choose a secure lock from the Sold Secure website if you choose a policy with us.

You can read more in our previous guide here.

Choosing ALA for your cycle insurance

All of our cycle insurance policies here at ALA cover bikes worth £6000 or less, no matter whether they are damaged or stolen. Even if you take your bike abroad, your coverage will still apply, giving you peace of mind. We also provide specialist cycle insurance for bikes such as BMXs, electric bikes and mountain bikes.

To retrieve a quote, you can either get in touch with us directly, or create your own quote here.