Bike Insurance: Is It Really Worth It? And What Do You Do Should the Worst Happen?

You will fall. Hopefully when you do it won’t be too bad. When I think about falling I do worry about getting injured as any time off the bike will affect my season or possibly even cycling career. But what worries me more is the damage that could happen to my bike. My two prized possessions are my road bike and my time trial bike, I’m not going to brag about how much I paid but if you know what you’re talking about they aren’t cheap by most peoples standards. So if I break or damage an essential component, let’s say the frame, what can I do to fix it. Well in some scenarios and to those who have no insurance the answer is nothing. You’ve lost it all unless you can prove someone else is at fault and even then you may have a legal challenge on your hands.

If the worst does happen what’s the best course of action. First you need to assess the situation, do you or anyone need medical attention and are you in any further immediate danger, say from oncoming traffic. If the answer to those is no then you can move onto worrying about your bike. If someone else is at fault you’re going to want to start compiling a list of evidence even if the other party seem co-operative that may change once you part ways. Of course this can be difficult if you’re a little shaken up, hopefully you won’t be alone if you are (or even if you aren’t) you may want to call for police assistance. Whatever happens you will need as many pictures and witness names and contact details as possible. Should a dispute arise you will need this. Hopefully it won’t come to it but better prepared than not.

If you are going to insure your bike you’ve got lots of options. Sadly it seems to come down to the price of the bike, the cheapest quote I got my road bike was well over £300.00. What gripes me the most is that when I went to add my winter bike to the policy they wanted more money, my point was how they can charge more when I’m only riding one at a time. I guess they could be stolen together, but as you’ll find out on your search for a good deal (and with all insurances) it seems to be a massive con. My first bit of advice is compare the comparison sites. They do have differences sometimes, some sites have affiliations with different brokers and you may find a better deal on another site. If you’re a British Cycling member you can get a discount through their provider, but even then it wasn’t the cheapest quote I got.

Possibly my best bit of advice, and I fell into this completely accidentally. Think outside the box. Do you have another insurance policy you can add your bike too. My house insurance actually covered my bikes as an additional to my policy, gutted as I did pay for insurance on one of my bikes once! The cost was much less than getting a policy for my bikes and what’s even better is they cover accidental damage to wheels, and option not always available with bike insurers. When I cracked my carbon wheel in a pothole my house insurance forked out for a replacement. Top stuff from mine, hopefully you’re covered too!

It may be the last thing on your mind but it won’t be should the worse happen. As if being without a bike wouldn’t be bad enough the thought of having to replace it out of your hard earned cash is devastating. A little preparation now could save you a lot in the future. And should be involved in an accident that’s not your fault just remember to remain calm and take account of the situation. The emergency services are there for these exact situations.