The future of cycle insurance

It doesn’t matter what you ride or how you ride it, the stark fact is that you are at risk from bike thieves of one kind or another. The low-to-medium value bikes parked in town centres and railway stations are most likely to be stolen by petty criminals paid cash when they dump them at a designated spot for a gang master to pick up later that day. Even road cyclists who use high-end bikes only for training and at events, and never leave them unattended, can fall prey to a career thief; it’s not uncommon for ‘high-value’ cyclists of this type to be followed home only to be burgled for their bike at a later date.

No one know can know with certainty the exact number of bikes stolen each year, but in some urban areas the problem is rife. The challenge for insurers and cyclists alike is that the odds can seem stacked in favour of the thief; bystanders turn a blind eye if a bike is stolen in front of them, the police are unlikely to investigate the crime and websites are awash with bicycles of dubious origin.

New technology offers its own answer to bike crime; you can already buy a GPS tracker disguised as a rear light, which allows you to track your bike’s whereabouts at any time, but until manufacturers embed tiny, hidden versions of these trackers into the frame of every bike sold, a traditional insurance policy will still make sense for most cyclists.

The ETA offers fully-comprehensive cycle insurance that includes many benefits at no extra cost. On top of new-for-old reimbursement in the case of theft, accidental damage (even at race events), £1m third party liability, cover against vandalism, 90 days’ European and 60 days’ worldwide, hire bike and an excess fixed at 5% excess are all included as standard – they’ll even send a recovery lorry to you and your bike (in an average of 40 minutes) for free if you breakdown.

Check the small print

Whichever cycle insurance policy you plump for, check the small print. For example, will the bike be covered in your shed? The ETA allows you to store your bike in a wooden garden shed if the door is locked and the bike isn’t visible through a window, but other insurers stipulate that the bike must be brought indoors between the hours of 9pm and 6am, that all the windows of your house remain closed at night and that you set your burglar alarm before you go to sleep.

And remember, clauses like this can apply to any aspect of the policy. Is the bike covered when it’s in your car? At the transition point at a triathlon? Overnight outside a railway station? If you’ve curbed and buckled the wheel? Remember, if the policy doesn’t meet your own requirements, it’s effectively useless.

If you have any general questions about cycle insurance, call the Environmental Transport Association on
0800 212 810.