Apologies for the lengthy absence – I’ve been busy cycling around!
I recently read an article by a fellow cyclist blogger who talked about the joys of leaving his bike locked anxiety-free. He put this down to a good-quality insurance policy. In my experience, two of the best insurance providers out there for cyclists are ETA and Cycleplan. But how do you spot a good or bad policy? And what do you need to consider? Here are some things to look out for:
- The excess fee: flat rate or a percentage?
- Make sure you know how much you’ll have to pay out of your claim amount. If the flat fee is as much as your original bike then it’s no use. Check with your provider before taking out the policy.
- Check that your storage facilities fit the insurance provider’s specifications precisely.
- Chances are that if you’re locked fence surrounding the communal bike store is 1ft lower than the required height, they’ll find out and your claim will be rejected. Don’t risk it.
- Check you have the right type of lock. Decent locks and locks deemed acceptable by insurance providers are expensive, there’s no doubting that. However, if you care enough about your bike to be taking out an insurance policy to begin with, you should already have invested in a high-calibre lock. Check places like Amazon, outdoor sports shops, and sometimes even Sports Direct, for good deals on acceptable locks.
- Most providers require you to be using a Sold Secure lock sufficiently covering the retail value of your bike.
- If your bike isn’t locked with the correct lock, in the correct way (again, check with your provider), then your claim will be rejected.
- Don’t leave your bike locked anywhere public for 12+ hours
- Train stations, airports, schools, parks, even the high street. If your bike is left locked in a public place for more than 12 hours, no matter the time of day, your claim will be rejected by 99.9% of providers.
- Contents insurance. If you already have contents insurance check to see if the policy doesn’t already cover your bike when you’re out and about. Places like Marks & Spencer are a good example. Check that your policy covers the value of your bike as well, however.