Comprehensive bicycle insurance - is it worth it?

sleuth89

I am going to start cycling to work (in London) and am thinking about getting bicycle insurance. Do any cyclists out there think that comprehensive bicycle insurance that includes personal accident cover is worth it, or do most people just stick to accident & theft, or just not bother at all?

If anyone does have insurance, where did you buy it? I have had a look around and haven't found many options.

Cheers for the advice!

WiggyDiggyPoo

I used to have a dedicated policy but now don't as I'm covered elsewhere first so I'd start here:

1) Home insurance - mine with Halifax is no extra charge for 1 bicycle upto £1k, this covers me home and away as long as the bike is secured to an 'immovable object'
2) Personal Accident - my Union subs include this as a benefit

The only dedicated policy I had, I cancelled, as it had some weird requirements such as if the bike was left 24hrs unattended away from home I wasnt covered.

Shop around, if you buy dedicated I'd say £25-45 per year for a £1k bike.

BTW In london its far more important to have either work provided (guessing its work you want this for) secure facilities or a another privately provided secure facility. If I had to park my bike on the street I'd buy the worse looking bike possible and keep it just road worthy enough to not fall apart!

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discplayer

I have theft insurance included my home contents insurance and third party cover as one of the benefits of London Cycling Campaign membership.

WiggyDiggyPoo is right that security is important but I think has gone a bit too far. Don't leave a flash road or mountain bike about but with a regular commuting machince, a hybrid or cheaper road bike, get two good locks, insurance will probably expect ones with a Sold Secure rating, probably Gold.

(I've probably cursed myself now and my bike will be pinched leaving a wrecked kryptonite on the ground!)

Marco_Panettone

I did for a year - it cost me a ridiculous amount so I cancelled it. Check out CycleGuard.

Join British Cycling, or the CTC. For £30 a year you get 3rd party cover and legal assistance.

Re theft - just lock it properly with 1x D-lock and 1x 'snakey' type/chain. These take different tools to cut, and thieves don't like the effort of carrying both. Most bike theft is opportunist, so if you make it harder to steal than the bike next door yours should be ok.

sleuth89

So do you think that getting insurance that includes personal accident cover isn't worth it then? I'm a bit worried about the crazy traffic in London.

WiggyDiggyPoo

London cycling is actually ok, I'd love to commute in london as in some parts bicycles outnumber every one else on the road.

Personal accident won't stop you having one, just offers financial support if you need it.

If I didn't have it through my union, i dont think I'd buy it if I didnt have it for whats thats worth.

Marco_Panettone

I'm in London too - what journey are you wanting to make?

sleuth89

I live in Shepherds Bush and work close to Marble Arch station, how about you? I haven't actually cycled it yet, I'm going to try on a weekend maybe and see how it goes. It would be great to avoid the Central Line every morning!

Marco_Panettone

sleuth89 wrote: »

I live in Shepherds Bush and work close to Marble Arch station, how about you? I haven't actually cycled it yet, I'm going to try on a weekend maybe and see how it goes. It would be great to avoid the Central Line every morning!

I'm out in Leyton, going to the West End, and haven't ridden in your bit out the world for about 5 years. Cycling's so much nicer than the tube - the journey is in YOUR hands.

Have a look at the LCC route planner for some help if you need it: http://routes.lcc.org.uk/

*Most* of the time London is fine to ride in - often it's a joy. Very occasionally there are people who cause you problems - sometimes drivers, sometimes cyclists, sometimes pedestrians. As above, insurance won't prevent accidents, but practice and education can. It might be worth seeing if Cycle Training is available to set you off on the right foot.

liz545

My contents insurance covers bikes up to £500 as standard, and our two (over £500) road bikes as a named extra for £31/year, which was less than most of the specialist bike insurance policy quotes I could find. This includes cover away from home as long as you use a good lock (most will specify what locks are approved).

We're also covered through LCC membership for 3rd party insurance, and there's a legal helpline if you're involved in a collision. There's no legal obligation on you to have insurance, though, and if you are involved in a collision that's not your fault, you can make a claim against the other driver's insurers directly.

As far as I can see, the main benefit of personal accident cover would be if you sustained injuries that meant you were unable to work for a significant period of time. It's worth checking whether you're already covered in this kind of situation - possibly through your mortgage policy.

rs65

liz545 wrote: »

As far as I can see, the main benefit of personal accident cover would be if you sustained injuries that meant you were unable to work for a significant period of time. It's worth checking whether you're already covered in this kind of situation - possibly through your mortgage policy.

I would check what cover is provided by the personal accident section. A normal PA policy provides a lump sum in the event of accidental death, loss of limbs etc - not just any accident.