A buyer’s guide to cycle insurance

The beauty of cycling is that it’s a simple pleasure – a bike can be bought for very little and you don’t need a licence or any specialist equipment. Unlike drivers, cyclists are not obliged to buy cycle insurance, but that’s not to say it isn’t a good idea to have it.

At its most basic, cycle insurance protects against theft. In fact, if you have house insurance, you may find that you already have a rudimentary level of cover. However, in the way that motorists forgo third party, fire and theft in favour of a fully comprehensive policy, there are many reasons why standalone specialist cycle insurance makes sense.

Good cycle insurance protects against accidental damage, vandalism, third party claims and breakdowns and includes personal accident and European cover, but each insurance company offers a slightly different level of cover and imposes different restrictions, so it pays to do your homework.

Tips for buying bicycle insurance

You will find websites boasting about cheap cycle insurance, but in most cases the level of cover is basic. Check the small print for additional restrictions, a higher-than-average excess or minimum claim amounts.

Check what the excess is. And if the excess is nothing, check if there is a minimum claim amount as this is effectively the same thing. We’ve put together a comparison table to illustrate what various cycle insurance companies, and what we at the ETA offer as standard.

The best test of an insurer is what happens when you make a claim. Can you submit a claim online? Will one person deal with the claim or will you be passed from pillar to post? If your bike is stolen, will you be forced to use a supplier of their choice or will you receive a cheque so you can choose to use the bike shop you want? These are not answers that you will without looking carefully at an insurer’s website or asking about directly, but they become crucially important if your bike is stolen.

Storage

Check whether the way you store your bike –both at home and when you’re out and about – is covered. For example, if you keep your bicycle in a shed, is a particular level of security specified for the door or padlock? If so, you can end up having to fork out for an expensive lock unexpectedly. ETA cycle insurance simply requires that the shed door is locked – it does not specify the lock type.

When you lock your bike in public, are parts like the saddle and wheels covered against theft? And if they are, does a minimum claim amount, or high excess, make it hardly worth putting in a claim in the first place? ETA cycle insurance covers all bike parts against theft and vandalism, including quick release components such as saddles and wheels.

Commuter

If you cycle to work, consider that thieves now target the sheds in cyclists’ gardens as well as the racks outside their places of work. When thieves can’t get past bike locks, they have taken to pinching saddles, wheels and shifters – anything they can remove and sell.

All ETA Cycle Insurance has a low standard excess of 5% (minimum £25), does not insist on a specific level of security for shed locks or garages, and covers vandalism and theft of bike parts, including wheels. Correctly secured bikes can be left in public places for up to 12 hours at a time, or 24 hours at a railway station.

We also include £2m third party cover as standard to protect you if you are unfortunate enough to collide with a pedestrian, another cyclist or a vehicle while you are riding any bike.

If you seriously injure yourself while riding your bike, you can claim for personal accident benefits of up to £20,000. And if someone else is to blame, our specialist legal team can seek compensation on your behalf. We also include a loss of earnings benefit which will pay up to £250 per week following a serious accident.

Getting a puncture on your way to work is a massive inconvenience, so we include Cycle Breakdown cover to keep you going whether you’ve suffered a flat or any mechanical breakdown. Again, this is included in every policy.

If you ride a folding bike like a Brompton or Dahon to work, you could get up to 30% discount.

Cycle touring

If you take your bicycle on holiday with the family, travel to sporting events across Europe, or go cycle touring further afield, ETA Cycle Insurance extends cover for theft, accidental damage and vandalism worldwide for 90 days per year. The policy covers your bike for damage caused while in the care of an airline, rail or coach operator.

Sports cyclist

All ETA Cycle Insurance covers you against theft, accidental damage and vandalism when you are training for, or competing in, races, sportives and other mass-participation, non-professional events. During triathlon events, the insurance covers your bike while it is in the transition zone (as long as the area is being supervised by a marshal, which is usually the case). Equipment and accessories, including cycle computers, shoes and helmets, are also covered as standard up to £250.

Leisure and everyday cycling

If you use your bicycle for pootling about, enjoying the local park or popping to the shops, with ETA Cycle Insurance you benefit from friends and family cover as standard. This means that anyone aged 18 or over is covered against theft, damage, personal liability and cycle breakdown while they are riding your bike with your permission. You are also covered for third party when you are riding any bicycle. We include Cycle Breakdown to get keep you going whether you’ve suffered a flat or any mechanical breakdown.

Road bike insurance

If you use your road bike for commuting or leisure, ETA Cycle Insurance can provide cover against theft and accidental damage of the bicycle and all permanently fixed accessories. If you’ve ever hit a hidden pothole at high speed, you might be aware of the surprising amount of damage it can do, particularly to more lightweight frames. We also provide cover for race events and triathlons, making us an excellent choice if you use your road bike competitively.

Mountain bikes

Whether you use a mountain bike for racing, recreation or commuting, you enjoy the full list of benefits available to every ETA cycle insurance policy holder. We are happy to cover bikes that you have built yourself and we cover stolen parts and accidental damage as standard.

Electric bicycles, e-bikes and pedelecs

ETA Cycle Insurance covers all road-legal electric bicycles, e-bikes and pedelecs as standard. If your pedelec weighs less than 60 kg, and its output does not exceed 250 W/15.5 mph, it can be covered under our cycle insurance at no additional cost. Cover includes our full list of benefits. Your battery is covered against theft and we provide Cycle Breakdown cover as standard.

Custom, vintage and self-build bikes

We build our own custom bicycles, so we have first-hand experience of how precious they are, and of what you would expect should they get damaged or stolen. We don’t charge extra for custom, vintage or self-built bikes. If you have an unusual bike you would like to cover we would love to hear from you.

ETA cycle insurance

The ETA has been providing cycle insurance for 24 years, longer than any other provider in Britain. We will not devalue your bike however old it is, or charge extra for benefits such as £5m third party, friends and family cover, cycle breakdown cover or protection when you take your bike abroad.

If your bicycle is stolen, or damaged beyond repair, we do not devalue it – in other words, whether you bought your bike new or secondhand, and even if it’s 5, 10 or 20 years old, we will settle your claim on a new-for-old basis. And because we know how inconvenient it is to be without a bike, we pay up to £250 towards a hire bike following a claim.

We believe these benefits should come as standard and at no additional cost.

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