Managing your Cycle Insurance policy with ALA is simple | Oversee your coverage and learn about regulation
ALA are number one on Trustpilot for Best In Insurance Company and In Cycle Insurance Company for a reason; we look after our customers. We make it simple to view or make changes to your policy wherever you are in the world. If you don’t need your cover anymore, you get a new bike or you pass your bike onto a family member, we won’t charge you to cancel or transfer your bike coverage. In this article, we summarise why it’s important for insurance companies to hold up their side of the deal and why we handle and pay all our claims as quickly as possible.
You need to keep your payment and policy details up to date to ensure your coverage continues and so we can contact you if necessary. If your email address, address or personal details change, visit My ALA to amend this information. Go to the ‘Manage’ tab and select ‘Change Policy Holder Details’.
If you get a new debit or credit card, or your payment details expire, speak to our friendly support team to amend your payments as soon as you’re aware of the changes. Don’t worry about losing your cover if your payment expires, we’ll contact you to remind you to update your information 14 days before ending your bicycle cover.
If you get a new bike or if you pass your bike onto a member of your immediate family, you can amend your policy with no admin fees.
Passing your bike insurance onto a family member is as easy as putting the policy into the new bike owner’s name.
Alternatively, to change your bike, go to My ALA, select the ‘Manage’ tab and then select ‘Change Bike’. You will need to generate a quote for policy transfer and cover any difference in policy premium if your new bike has a different value.
Note: Your new bike needs to be eligible under the original policy terms and you will not be able to change your cover options or limits.
How to check your Cycle Insurance policy limits
You’ll want to check your policy documents as soon as you receive them and before using your bicycle cover. Knowing your policy limits before needing to claim is important so you avoid an unsuccessful claim or unexpected costs.
To view your policy limits, visit your My ALA account dashboard. Under your listed policies, select ‘Manage policies’ and under your Cycle insurance policy select ‘Show documents’; here, you will see your schedule of insurance, your IPID, your Initial Disclosure Document Download and your Receipt Document Download. Your maximum benefit (outlined in your policy schedule) is the highest amount you could receive. Your limits include the original value of your bike and any additional cover you have chosen; these include, Public Liability, Accessory Cover, Cycle Replacement Hire, Legal Expenses or Personal Accident cover.
How to manage your policy while abroad
When you’re on a cycling holiday or just taking your bike abroad, the last thing you need to deal with is a bicycle accident or replacing a stolen bike. However, all our policies include Worldwide cover for up to 30 consecutive days outside the UK so you’re covered even while on holiday. You don’t need to start your claim while you’re abroad, we’re happy for you to wait until your return to the UK; just begin your claim within 48 hours after arriving.
If you need to hire a temporary replacement bike while abroad and have Cycle Replacement Cover on your insurance policy, we’ll need to approve your claim and any hire costs before you go ahead with the hire bike. We understand the possible inconvenience our necessary processes, so our friendly support team will try to approve your claim promptly.
If your personal or payment information changes while on holiday, managing your policy abroad couldn’t be easier. If you have internet access and a mobile phone, you can log into My ALA from anywhere in the world or call us on 01653 916642 to amend your personal or payment details .
What should you do if you need to cancel your Cycle Insurance policy?
We acknowledge the reasons you may want to cancel your bike insurance cover, such as a change in bike owner, budget priorities, or you get a new bike before your renewal date. Thankfully, you can cancel your cover for any reason and receive a full refund during the cooling-off period (14 days after the start of your policy). However, after the cooling-off period has ended, you aren’t entitled to a refund of the premium. If you’ve paid monthly for your bicycle insurance cover, you will have nothing more to pay after you cancel.
Alternatives to cancelling your cycle cover
If you get a new bike and the new bike has the same value as the original one you can phone us to change your bike details. Alternatively, you can pay the difference in premium if your new bike has a different value.
If you pass your bike onto family you can change your policy into the name of an immediate family member for no fee. Visit your My ALA account or phone our supportive team.
Regulation for financial services is crucial for maintaining a fair and ethical financial system and to safeguard customers. There are two main regulatory bodies, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The FCA regulates and monitors financial services such as insurance, investment schemes or asset management. The PRA oversees operations in the firms offering these services. The FCA outlines some general rules for insurers which are as follows:
Prompt and fair handling of claims: insurers must settle your bike insurance claim as soon as possible. Policyholders must also get prompt assistance with, and updates on their claims. View your claims progress on your My ALA account.
Providing useful guidance: insurers should provide resources to customers on how to make a claim and ensure that policyholders understand the process, the requirements and their rights.
Fair treatment of claims: insurers can’t unreasonably reject a bike insurance claim or terminate coverage without reasonable cause.
Prompt settlement of claims: insurers should settle claims promptly once agreeing on the outcome. ALA settles every bicycle insurance claim within 48 hours of reaching a settlement figure.