Your bicycle is valuable. You know it. And so do the thieves. They have their eyes set on your prized possession.
Don’t believe us?
Well, statistics state that a bicycle gets stolen every 2.8 minutes.
By the time you finish reading this, a proud bicycle owner would have lost his/her treasure. And you could be that unlucky bicycle owner.
And that is just one of the things that can happen to your bicycle. You could have an accident or a breakdown (you know how troublesome those chains can be).
Also, you might get hurt. Or you might hurt someone else or cause public damage.
Whatever the case be, you will have to bear the financial burden. That is if you don’t have a bicycle insurance plan in place.
But with insurance, you can have fun on your ride, with no worries slowing you down. That’s because you’ll know that you are covered for any unfortunate and unforeseen situations.
About Bicycle Insurance
Just like any other valuable possession, your bicycle is exposed to multiple risks. Bicycle insurance is a simple and cost-effective way to make sure the risks that your bicycle and you are exposed to don’t become a financial burden.
Do I Need a Specialist Bicycle Insurance Policy?
We get queries from a lot of clients asking us if they need a specialist bicycle insurance policy.
You also might have the same question if you have home insurance that covers the contents of your home.
If you have an ordinary, inexpensive bicycle, you don’t ride too often or don’t travel long distances on your bicycle, the home insurance coverage will be sufficient.
Also, you can get bicycle insurance as an add-on, if it is not explicitly covered in your home insurance.
But, if you are a hobbyist or professional biker, it is better to go with specialist insurance. It is also a good option if you commute to work on your bicycles or use it regularly.
Specialist bicycle insurance is a better option in the following cases –
If your bicycle is expensive. (And financial coverage offered in home insurance is insufficient in comparision to the cost of your bicycle)
If you participate in racing events and competitions.
If you go on biking holidays (either out of the city, state or the country)
If you wish to get coverage for medical expenses in case of bicycle accidents.
If you desire coverage against third-party claims.
Also, specialist insurance offers more comprehensive coverage. Things (and situations) that are not covered in home insurance but covered under specialist policies include –
Lost race fees
Additional biking accessories
Minor or major personal injury due to biking accidents
Types of Specialist Bicycle Insurance
At White Recovery, we offer the following types of specialist bicycle insurance plans:
1. Bicycle Theft Insurance
In the event of your bike being stolen, we will help you recoup the cost of a new bicycle. How much of the cost is covered depends on the specific plan that you choose.
2. Cycling Event Insurance
If you take part in cycling events and competitions, this is the insurance that you should pick.
In case you are not able to take part in the event/competition, we compensate for the entry fees and tickets too. Under this insurance plan, we cover damage to your bicycle and personal injury. We also include harm/injury to competitors and their bicycles. Injury to spectators and property damage are not covered. (As they are mostly insured under the organiser’s third-party insurance).
If you don’t want to invest in year-long cycling event insurance, we also have temporary insurance. Such plans are for a minimum duration of one week.
3. Accidental Damage Insurance
Accidental damage insurance includes replacement of the bike or parts and accessories. This also includes cycling kits, helmets, and GPS devices.
4. Cycling Travel Insurance
If you go on cycling holidays, cycling travel insurance is necessary. Such a policy will cover you even when abroad. Mountain cycling and racing are also included in the insurance.
However, reasonable safety measures should be taken to be able to make claims for accidents and theft.
5. Personal Accident Insurance
If you get injured while cycling, personal accident insurance will come in handy. The amount up to which you will get coverage depends on the specific plan that you choose. Higher plans also come with lump-sum payments in case you are not able to get back to work after the accident.
6. Third-party insurance
This is the insurance that comes in handy when you have an accident and cause damage or injury to someone else or their property. Higher plans also include coverage for legal costs.
How Much Does Bicycle Insurance Cost?
The cost of your bicycle insurance depends on the coverage level that you seek. For amateur cyclists, suitable insurance would cost no more than £10.
But if you are a professional rider or regularly indulge in cycling, you might have to shell out higher sums. However, it is still a great step as it saves you from a lot more financial hassle later.
The cost of bicycle insurance also depends on the cost of your bicycle.
To get an accurate estimate of how much will it cost to get suitable bicycle insurance, you can contact our experts.
Do Not Ride Without Bicycle Insurance By Your Side
Specialist bicycle insurance might seem like an added expense. But when your bicycle is one of your most valuable possessions, it is wise to get insurance for it.
Whether you are a professional rider, a hobbyist or a casual rider, insurance is a must.
The level of coverage you choose can vary depending on your needs. But riding without insurance is akin to riding without a helmet. It is not safe. And you’ll be the one who’ll have bear the (financial) losses in case something goes wrong.
Select a suitable plan at the earliest. And ride with complete peace of mind with White Recovery bicycle insurance.
Bicycle Insurance – FAQ’s
1. Do I need insurance to legally ride my bicycle?
Unlike cars, bicycle insurance is not a legal requirement for you to be able to ride your bicycle. But it is a wise call if you don’t want to lose money in case something happens to your bicycle.
Comprehensive bicycle insurance will cover you in case of accidents, theft and injury. It will also come in handy in case of third-party claims.
2. What documents do I need to get bicycle insurance?
Buying bicycle insurance with White Recovery is a simple process. We need the following details –
About you –
About your bicycle –
The value of your bicycle
Make and model
Any customisation or special attachments.
3. Is my bicycle insured if someone else rides it?
Your insurance extends even if someone else is riding your bike. However, it is important to note that only your close family members get such coverage.
Before letting someone else ride your bicycle, it is best to check your policy details. You can also contact our experts for more details.
4. What situations are not covered in my bicycle insurance?
Certain situations that are not covered in your bicycle insurance include –
If you leave your bicycle unattended for more than 24 hours, it counts as abandonment. In such cases, you will not be able to make claims for theft and vandalism.
Bad locks. If your bike is not locked or stored in an indoor garage/safe space, theft claims will not be accepted.
Pre-existing medical conditions. If your pre-existing medical conditions are not disclosed, expenses for the same will not come under the cover in case of bicycle accidents.
Not notifying changes done to the bicycle. If you have changed parts or added accessories to your bicycle, you need to inform us about it. If you don’t inform us in time, your claims will not stand.
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