Insurance understanding

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BulletTheory05

Über Member
Location
Liverpool, UK
Morning all

Hope all is well

I've just been reading the pinned post on insurance in the main cycling forum, and I'm.a bit confused.

What insurance do people recommend, and is it worth it?

Do we need insurance for if someone knocks us off our bike?

Just want to make sure I'm doing everything right and proper when I'm out on the road and in public
Thanks for any help
 

vickster

Legendary Member
Make sure your bike is insured at and away from home (usually this is cheaper via home insurance depending on value of bike, check policy)

The other type of insurance worth having (IMO) is third party indemnity (if you damage something or someone) and also is having legal cover which covers you if you or your bike is damaged. Organisations like cycling Uk, British Cycling or London Cycling campaign provide these for an annual fee around £40-50 a year. Look at their sites, at the level of cover (the third party should be as high as possible) and which aligns with your advocacy aims (if important). They also offer retailer discounts as part of the package, maybe a free gift depending (even reduced or free for NHS workers, retired etc)

Eg
www.britishcycling.org.uk/membership/ride

https://www.cyclinguk.org/join

https://membership.lcc.org.uk/
 
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rogerzilla

Legendary Member
There are three types you might want. None are compulsory:

1. Third party, in case you injure someone or damage property. Cheap and usually acquired through CTC or BC membership.

2. Personal injury or medical insurance. Very expensive, usually a perk of employment but becoming rare these days as we race to the bottom.

3. Theft/loss/damage. Expensive for bikes, usually around 10% of the value of the bike per year.
 

stuarttunstall

Senior Member
Location
Yorkshire Wolds
I insure mine with Bikmo, costs about £9 a month for mine and cover is pretty good, nice people to deal with as well, fast at answering questions when emailed..

  • Theft
  • Accidental damage
  • Vandalism
  • Worldwide cover
  • £250 or 10% Clothing & headgear
  • £250 or 10% Accessories
  • £500 or 10% Bike box
  • £150 Returning home cover
  • £500 Alternative cycle hire
  • Excess-free replacements
  • £100k Legal expenses cover
  • Family + friends
  • Multi-bike - up to 50%
  • New for old - no depreciation
  • 0% monthly payments
  • £20,000 Personal accident (death + capital benefits)
  • £2m Public liability
  • £5000 Additional medical expenses inc physio
  • £2500 Counselling expenses
  • £1000 Accidental dental injury
  • £500 Accidental optical injury
  • £500 Race Fee
 

vickster

Legendary Member
I insure mine with Bikmo, costs about £9 a month for mine and cover is pretty good, nice people to deal with as well, fast at answering questions when emailed..

  • Theft
  • Accidental damage
  • Vandalism
  • Worldwide cover
  • £250 or 10% Clothing & headgear
  • £250 or 10% Accessories
  • £500 or 10% Bike box
  • £150 Returning home cover
  • £500 Alternative cycle hire
  • Excess-free replacements
  • £100k Legal expenses cover
  • Family + friends
  • Multi-bike - up to 50%
  • New for old - no depreciation
  • 0% monthly payments
  • £20,000 Personal accident (death + capital benefits)
  • £2m Public liability
  • £5000 Additional medical expenses inc physio
  • £2500 Counselling expenses
  • £1000 Accidental dental injury
  • £500 Accidental optical injury
  • £500 Race Fee
Bikmo Depends on the value of the bike or bikes (and postcode). I got a quote for a number of bikes and it was hundreds of pounds a year.
Insuring the bikes costs me almost nothing via home insurance.

£2m liability is low too, sounds a lot but consider if your actions mean someone, even a child, is paralysed and needs care for the rest of their life. A worse case scenario but that’s the reason for such cover. BC is £15m as a comparison. And no limit on legal expenses
 
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byegad

Legendary Member
Location
NE England
There are three types you might want. None are compulsory:

1. Third party, in case you injure someone or damage property. Cheap and usually acquired through CTC or BC membership.

2. Personal injury or medical insurance. Very expensive, usually a perk of employment but becoming rare these days as we race to the bottom.

3. Theft/loss/damage. Expensive for bikes, usually around 10% of the value of the bike per year.

Re- 3.

At least 10% and often demanding very expensive locks are used at all times, except when riding! For expensive think Gold Standard and very heavy. So you insure your £3000 lightweight road bike, and to keep it covered when you stop for tea and cake you carry 1-2kg of lock.
If, like me you have* 9 bikes at a total value of £11000+ that will run you £1100/year plus, my last quote some 12 yrs ago was for £1300, and the one off cost for 9 Gold standard locks, adding £7-900, and because when not in use it must be locked, to a suitable anchor, add another few hundred pounds for them. I gave up at that point and now risk it. As I have had no loss the amount I've saved would buy all of them again.

* I used to own 9 bikes, I'm now down to 2!
 

Sharky

Guru
Location
Kent
Third party insurance is a must. There was that case the other day, where a rider knocked a pedestrian over and although it was deemed as 50/50, he was saddled with £30k costs. He was not insured.

I've been knocked over and the service provided by Cycling UK made it worry free to get compensation.

Never bothered with specific cycle theft insurance. I did get a bike nicked when I was a lad and that taught me never to leave a bike out of sight.
 

rogerzilla

Legendary Member
In the early 90s, I regularly left my "road bike" (no-one called them that then; they were racing bikes, tourers or clubmen) unlocked, outside shops, in Birmingham. Never got touched. Only MTBs got stolen.

Then Lance Armstrong came along and made road bikes popular :angry:
 

mjr

Comfy armchair to one person & a plank to the next
Third party insurance is a must. There was that case the other day, where a rider knocked a pedestrian over and although it was deemed as 50/50, he was saddled with £30k costs. He was not insured.
That was because he refused to counterclaim and failed to seek legal advice, more than because he was uninsured. It's been exploited to sell insurance, but would anyone bet he'd've consulted his insurers either?
 

mjr

Comfy armchair to one person & a plank to the next
.
What insurance do people recommend, and is it worth it?

Do we need insurance for if someone knocks us off our bike?
Third party (aka public liability) and theft, if you've any assets (like a house) you want to keep.

No, someone will probably assist with an injury claim that has any merit, but insuring may reduce any fees.
 
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