Should you buy bicycle insurance?

1 min Read Published: 06 Jun 2013

bicycle insurance
Every year in the UK around 19,000 cyclists are killed or injured in reported road accidents, including  around 3,000 who are killed or seriously injured. 

Every year in the UK 1 million bicycles are stolen which equates to nearly 2 bicycle thefts every second of the day and night

Replacing a stolen bicycle can be costly but if involved in an accident many cyclists are left heavily out of pocket as they recover from their injuries. In some more severe cases it can take months to recover and many will  struggle without any form of income.

It can make sense, given the relatively low cost, to take out some form of bicycle insurance to mitigate the costs involved if  you are involved in an accident or have your bicycle stolen.

What does bicycle insurance cover?


Replacing a stolen bicycle can be expensive especially if you are a keen cyclist and upgraded to one of the fancy fibreglass models. Whilst you can get bicycle cover on your household insurance this is often very limited so make sure you check out the policy conditions.


This cover can give you peace of mind if you are unfortunate enough to suffer injury due to an accident. Whilst you may still be paid by your employer when off work there are often extra costs involved when recovering from injuries, such as travel to and from  hospital for you and your family. Obviously if you have an existing income protection policy check whether you already will be covered under the terms of that contract to avoid buying unnecessary cover.

Third party liability

This cover will pay out for damage or injury you cause to  someone else or their property whilst on your bicycle. This cover may be available as part of a household insurance policy but this is often very limited, in particular around the usage of your bicycle, so make sure you check out the policy conditions.

Accidental damage

This will pay out in the event of accidental damage to your bicycle but check the policy conditions for what constitutes accidental damage.

Travelling abroad

If you plan to take your bicycle abroad you can include your requirements in your policy to make sure you  receive the full benefits from your insurance when you are out of the country.

How much does bicycle insurance cost?

Obviously it depends on the level of cover, the value of your bike and where you live. But for a bike worth £500 you are looking at around £50 a year.

How can I find the best bicycle insurance?

You can search the insurance comparison sites for the most competitive rates.

Also, there are a number of specialist sites for the more serious cyclist for example -  or