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Bicycles are a common target for
thieves, statistics reveal that over 150,000 cycles are reported stolen each year.
Furthermore over 26,000 cyclists are involved in accidents each year.
Insurance for cycles is now being offered by an increasing number of insurers.
Whether you use your
bicycle for practical purposes such as travelling to work, for
leisure, fitness or riding competitively, it's well worth taking out an
insurance policy to protect you against theft, damage or accidents.
Consider the policy
It is important to consider the type of policy you require and the
coverage. For instance, you many have expensive accessories such as locks,
lights or speedometers. You may want to take out a policy that covers those items
in addition to your bike. If you plan to use your bike
abroad, you will need a policy that covers you outside the UK. Check
the small print
You should always thoroughly check the terms and conditions on your policy. For example, some insurers will
require you to use a certain type of lock, otherwise your claim will be
invalid. Of course you should make sure you lock your bike up when you leave it unattended. If you
fail to do so, and it gets stolen, your insurance claim will be void.
Insurers will insist you get some form of security marking on your bike.
For example, your local police station can stamp your postcode onto your bike and keep an electronic record of your details.
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