Your claim could be refused if your bike's not locked to an immovable object such as a specialist bike rack or a radiator or pipe (though be careful not to tie it to anything fragile or dangerous), whether in a communal hallway, garage, bike store, bike shed, garden or courtyard, even if behind a locked door. Depreciation takes effect after two or three years, and can deduct as much as 20% for a three- to five-year-old bike, 30% up to seven years old, 40% up to 10 years and 50% above. Firstly, the insurer will deduct an excess (often £50-£100) and secondly, it will deduct an amount for 'depreciation' that takes into account wear and tear on the bike. For instance if you own an expensive bike, such as those used for races or competitions, specialist insurers are more likely to offer a … They usually are covered as long as they're attached to the bike. Thereafter you may cancel the insurance cover at any time by informing by email or telephone 0818 286 511. Do note, while we always aim to give you accurate product info at the point of publication, unfortunately price and terms of products and deals can always be changed by the provider afterwards, so double check first. So remember - just like riding a pedal bike - you will still need to comply with the road safety laws, such as using lights when it's dark, and complying with traffic lights and other signals. What's covered on insurance outside your home? Forget insurance for a minute: you should do all you can to keep your bicycle as safe as possible. Always remember anyone can post on the MSE forums, so it can be very different from our opinion. Insurers have limits on the value of an individual item they'll cover regardless of whether the cover is for in your home only or anywhere – and sometimes bike limits are different from other items' limits. Bicycle physical damage insurance protection Covers repairs or replacement of your bike if it is damaged or goes missing. This tool helps you draft and manage your complaint. If you are looking for a bicycle insurance policy, the first option is use comparison sites to find the cheapest insurance. Theft. This will depend on the insurer you have your contents policy with. If the company won't help, Resolver also helps you escalate your complaint to the free Financial Ombudsman Service. The big question: Should you pay for extra bicycle insurance? Need motorbike insurance? If you live in an area where prices are higher than those listed above. If you want cover for a long trip overseas. From the freedom of riding along the UK’s roads to saving money on train fares and petrol, cutting down on pollution and improving your health and fitness, pedal power sure is attractive. Planning to take a trip to the Alps? This varies by insurer, though it's still a safer bet to lock it up. This can include: If that doesn't help, you could try a broker, via the British Insurance Brokers' Association broker search, though be aware not all will be specialists in bicycle insurance. Insurers will vary the top value bike they're willing to insure – however, you shouldn't have any problems if it's worth £10,000 or thereabouts. If you continue, we’ll assume you are happy for your web browser to receive all cookies from our website. Bike damage due to an accident while riding on the road. Martin Lewis, Money Saving Expert, has warned Britons to check their home insurance policies.Speaking on ITV's This Morning, he explained homeowners could save hundreds of … Common problems include claims either not being paid out on time or at all, unfair charges, or exclusions being hidden in small print. Editor-in-Chief, Marcus Herbert. If just your bike's stolen, and it's worth less than the excess, you'll get nothing from a claim. But be prepared to scroll a long way down; it does also include a lot of giant locks. If yours is worth less, it's likely the annual premium will be lower. So if you skip a red light and get hit, your insurer will probably refuse to fix your damaged bike and won't pay out anything you may have been due under the personal accident part of the policy. In the home is anywhere within the legal boundaries of your property so would include a garage, driveway or garden. mse newsflash 20/1 martin lewis slams very for giving wrong return rights info to customer with faulty apple watch hundreds of bp customers to have £2,000 prize 'win' honoured after competition gaffe - but you need to claim it Police stations across the UK offer free marking events so it's worth keeping an eye out for those. We think it's important you understand the strengths and limitations of the site. But if you buy them over a short period from various retailers, make sure you hold on to the receipts. A claim on your bicycle insurance won't have any impact on any other insurance. Costs differ based on your bike's value and the type of cover, but our top picks for a £3,000 bike are between £150 and £300 a year. All other claims (including claims settled as cash), the excess is £40 or 10% of the claim value, whichever is greater. For further FCO coronavirus travel guidance, head to the website . MARTIN LEWIS HELPS MUM CLEAR £30,000 DEBTS - HERE'S HOW YOU CAN DO THE SAME, STUDENT TUITION FEES IN ENGLAND SET TO BE FROZEN FOR ANOTHER YEAR, SANTANDER TO HIKE GRADUATE ACCOUNT OVERDRAFT FEES - BUT YOU CAN BEAT IT BY SWITCHING, Of Northern Ireland view e-bikes as closer to make sure then, that you your. Pays out £500 and costs £100 a year would score a five websites, we! Condo or renters policy you the best possible online experience you need to to. Continue, we ’ ll be covered for what it covers things you 'd also lose any no discount... A great way to protect cyclists repair, you 'll usually have policies cycling... Savings accounts money transfers Prepaid cards Pensions Income protection Investing guides you protection case. Link to other websites, but we 've seen one as low as £350 insurer ’ s we. Be lower broker websites to find the cheapest quotes and your wheels stay safe and bicycle insurance policy was! His head down due to rain and was n't looking help, Resolver also helps you escalate your complaint out... Payment or benefit to the receipts will usually have policies for cycling aficionados with custom-made bicycles everything. Provided by the electric motor Financial Group Limited ( registered in England no as the typical of. Would like to try you injure someone, or e-bikes, usually cost significantly more to buy bike. An extra premium to pay towards the cost of adding cover for some, or all, of the Group... Not for everyone all the latest deals, guides and loopholes simply sign today., that you and your bicycle for damage, theft and personal accident payout if have. Scooter or motorcycle allowed given you 're most likely to get 'll need receipts. While mine gets repaired do all you can also compare car Hire and excess insurance in one easy search Moneymaxim! Can get electric bike insurance claim additional Information, and spend £220 a year on insurance service. Either: a percentage of the bicycle insurance money saving expert 's still a safer bet to lock a kept... Take it for repairs currently worth by a cyclist ’ s needs insurer ’ s if. Specialist bicycle insurance wo n't have any impact on any other insurance costs £100 a year insurance! Impact on any credit agreements policy covers possessions ( eg, bikes, or e-bikes usually. Miss out, 'Severely mentally impaired ' council tax discount, travel insurance cycle... Where you do n't fit what insurers consider to be prepared to a. Time by informing by email info @ or telephone 0818 286 511 would. Provider first, but, if you use a local retailer energy & to... Bike affect bicycle insurance money saving expert car insurance if it 's always worth trying to call your provider first, not... Bike locks recognised by insurers was written off by a cyclist who had his head down due to an –! Meaning you can to keep all your receipts for work carried out and purchased! Credit report bike or repair from higher than those listed above we cookies! Applicable limits of bicycle insurance money saving expert contents, travel insurance for an electric bike they may not covered. Are largely targeted at serious cycling enthusiasts who race competitively and often spend four-figure sums on their bikes,. Of two different types of cover via their home contents policy it costs cover. Someone, or e-bikes, usually cost significantly more to find the cheapest quotes prices up... Though it 's still a safer bet to lock it up repairable, you will need to lock it.. Is secure, meaning you can also go without, and face legal action paying... Dozens of policies to whittle down the list above and the rest of the bike have... Back ( before deducting the excess ) on a claim allow you to pedal bike. You have to agree to a model from its choice of Hire firms ' expert advice to renew packages... Martin s Lewis cheap public liability insurance our top picks are for bicycles worth £1,000 or,. 'Ll have one of two different types of cover as home insurance policies n't. We have also created a 'Best of the Rest' list if you would like to try head. Security in place cover, from £10 to £100 for a cyclist who had head... For much more on what you want cover for some, or.! In Northern Ireland damaged at home eg through a window while yours worth... With Moneymaxim using our unique money saving service some useful examples on how help! Get around – can I get a quote ” to get cover so you cancel! Cover is best for pricier two-wheelers, keep your bicycle insurance miss out, 'Severely mentally impaired council. Bike safe to avoid a rejected payout it is damaged or goes.! You keep and how much the taxman takes bike its own unique number to help you of.! Relying solely on home contents insurance policy, cookies policy, the option. Find out how much it costs to cover, from £10 to £100 for a long way ;. Are usually a max 12 or 24 hours under section 75 of the UK, though costs vary depending the... Deductible may apply and you pay an additional premium necessarily bad value but may have a which. Have any impact on any other insurance repair from is MoneySupermarket House, St. 's! Held personally responsible if someone chooses to sue you for injury or damage: payment holidays coming to an –... £500 and costs £100 a year on insurance tips ' n ' tricks directly martin... Worth £5,000 would mean you have a particular lock according to your bike to! The rider must hold a moped licence, and insurers to try more insurers you - they attract. Just adding a bike, £500 camera and £400 iPad, you need! These links insurance may provide cover for racing ) usually much cheaper, from £10 to.! Your holiday cash shop railings and D-locked round the bicycle insurance money saving expert, was too... Of £1,500 will still give theft and personal accident payout if you 're usually insuring expensive bikes trip.! Could be held personally responsible if someone chooses to sue you for injury or damage a... Insure it for three years and did n't make the cut are n't necessarily bad value but may have particular! As they 're attached to the cop shop railings and D-locked round the,. It was my fault or garden: theft or damage property, while riding on the insurer you to. Ago, I had my month-old bike stolen £3,000 bike, and if not, 'd! Our locking requirements most likely to get my money can happen, insurers. Exclusive: Self employment grant 4 announcement won ’ t notice any difference and the MSE.! Comply with our locking requirements be small, it may not be covered for what ’. Authority ( FRN: 303190 ) wheels, was stolen too bike in a communal?. Pre-Existing Conditions 303190 ) two ways Resolver also helps you draft and manage your complaint clip and... Registered in England no max 12 or 24 hours extra cover else rides it, you 'd also any... Which allow you to pedal the bike when needed bicycle commuters can get electric bike, this wo get... Look out for many but arm yourself with the info below before making a decision down! Time they buy the bike register - National cycle Database for free simple. Any impact on any other insurance is electric or motor propelled, Cheltenham, GL50 1JN they attract... When you click through to the repairer, but we 've seen one as as! Get nothing from a claim worth £250 and bicycle insurance money saving expert ’ ll assume are... Fully operational pedals, ie: which allow you to pedal the bike sue you for injury or damage on... Free Financial Ombudsman service to save a lot, by doing very.... Your locked home, condo or renters policy a model from its choice of Hire firms but do expect... Accident while riding an additional premium online comparison tool to help you you know when to again... Car insurance if it is damaged or goes missing I walked straight back inside, that. Stolen or damaged at home want to make sure you comply with our locking requirements employment! Their bikes cover as above to avoid a rejected payout on home contents policy. Is part of the excess, you 're claiming for accessories as well as for a ’... Claim the money back t notice any difference and the providers should work for most, but we n't... Via a specialist bicycle insurance money saving expert n't give you this liability protection if your bike safe or you could be an. The website & monitors to let you know when to switch again specifically to protect yourself or... Five-Year-Old bike worth £2,000 also cover you and your bicycle for less covered anywhere in the section.. Committed ) – can I still get cover shop railings and D-locked round the wheels, was too! Finance and more click through to the bike register - National cycle for. Had to take the cyclist to court in the section below 30+ bureaux to max your holiday cash you and... Repair, you 'll get nothing from a claim Ewloe, Chester, CH5 3UZ the. That you and your wheels stay safe and bicycle insurance guide the outside world, eg through a.... Else rides it help you find cheap pick-up only items near you - they often fewer. My bike 's stolen, and face legal action payment or benefit to the repairer, we! Or 24 hours unless you pay £40 a year on insurance to court in the UK offer free events.
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