Does 'Accidental Damage Only' Cycle Insurance exist?

[CopperCyclist]

As I'm about to buy a new bike, at the just under 3k mark, I was looking at insurances. My house insurance only covers my bikes up to an individual value on each bike of 1k, and it's not up for renewal for another ten months, so I can't go down the house insurance route.

I'm not bothered about having theft cover. I only want cover so that should I have an accident when it's no one else's fault, and damage the bike, I'll be covered.

However, I can't seem to find any policy like this. They all seem to insist on theft cover, and the cheapest I've found is 250 quid a year. Anyone know of anywhere that offers accidental damage only?

 

[400bhp]

Are you talking about property insurance, i.e. accidental damage to your bicycle, or bodily injury too, or both?

 

[srw]

I doubt it. Accidental damage is incidental to the main risk, which is theft. Most accidents are repairable for a few hundred pounds at most, which isn't the sort of thing you can easily insure economically.

Depending on the wording of your household policy, it may be possible to cancel for not very much.

 

[Kiwiavenger]

ask if they can add it as a specified item, some will add it on for a minimal cost (i've got mine specified at just £1000 with all the kit on it) also with mine if it is specified i am covered for damage if its used to race!

 

[CopperCyclist]

I've asked them. They will over cover bikes up to a maximum value of 1000 per bike, and this will be 2800.

I'm only concerned about insuring damage to the bike. Paranoid about coming off the bike, breaking the carbon frame and being out of pocket.

 

[Boris Bajic]

My feeling on this is that bicycles are built to be ridden, battered and scraped. Accidental Damage Insurance on a bicycle seems to me like insurance against fruit trees losing their leaves in the Autumn.

Looking back at every bicycle I've ever owned, none has gone without a trip down the road on one side or an unexpected sideswipe of the kerb. Some bits can be bent back, some can be clubbed back with a mallet and some are Donald Ducked.

The same goes for my current bikes.

If I were an insurer, I wouldn't offer the type of cover you're after - or if I did I'd price it to ensure that only the mugs took it up.

With some of the more lightweight and precious modern componentry, as soon as you turn a wheel the clock is ticking.

You will chuck it down the road or get walloped or lose it on a wet descent. Budget to replace what you have.