There’s a lot of magic in cycling adventures, whether you like speeding along country roads, blasting along mountain bike trails or circling a velodrome. However, as with many other fun things in life, cycling does come with its risks. Although it’s not compulsory, it could be worth getting your bicycle insured. Here are five reasons why.
1. Your bike could be a real steal!
If you’ve got a decent bicycle then you might have paid a lot of money for it. Unfortunately, thieves might recognise this fact. According to the Office for National Statistics, there were 274,000 incidents of bicycle theft over the course of 2017. However, insurance could cover it if you’re unlucky enough to have your bike stolen. For example, The Insurance Emporium offer cover for Theft, Accidental Loss Or Damage as standard.
2. If you’ve done some damage…
One of the arguments against making cycle insurance compulsory is that, in an accident, the cyclist and their bike are likely to come off worse. However, it’s possible that you could cause damage or injury to a third party while you’re out on your bike. In which case, you could be liable for the costs. In this case, you might find The Insurance Emporium’s Public Liability Optional Benefit helpful to choose for a cycle insurance policy.
3. Out with the old, in with the new!
If you have a trusty bicycle that has seen you through a variety of adventures, you’d probably be heartbroken if it was lost, stolen or accidentally damaged. However, if something like that were to happen to it then you may well want a replacement. Getting the money together for this could be tricky. However, The Insurance Emporium’s New For Old Optional Benefit could cover the cost of replacing your bike with another of the same make or model, or a similar one of the same value and spec.
4. Pedalling all over the world
Your bicycle may well have been carefully selected to suit you and the kinds of things you like to use it for. That’s why, if you’re travelling abroad for a cycling adventure, your ride might be the best one for the job. However, what if something happens to your bike while you’re away? You could choose Territorial Coverage as an Optional Benefit on cycle insurance with The Insurance Emporium. Unlike if you simply claimed on your travel insurance, this option could be more wide-reaching. For example, if you choose the New For Old or Competitive Use Optional Benefits as well, then you could fall back on these while abroad.
5. An idea for all your gear
Over the years, you may have gathered an arsenal of extras to aid you on your cycling adventures. These could include cycling clothes, technology and accessories. What’s often the case with these sorts of things is that the best ones can be pretty costly. Therefore, for peace of mind, you could consider choosing Optional Benefits such as Bicycle Technology, Bicycle Accessories and Cycling Clothes Optional Benefits on The Insurance Emporium’s Cycle Insurance.
When you’ve found your perfect bike and have all the gear you want, cycling adventures are magical. However, it could be worth getting specific cycle insurance for the reasons mentioned and generally for peace of mind. The Insurance Emporium’s Bicycle Insurance covers Theft, Accidental Loss Or Damage as standard and then allows you to choose the Optional Benefits you require. You could also get up to 25% discount* on a new policy. Stop by The Insurance Emporium today to find out more!
*The 25% discount is available on lunar and calendar monthly policies and policies where the premium is paid annually. It is made up of 15% introductory Discount plus 5% Age Related Discount and 5% Security Discount (if appropriate). The Introductory Discount is available for the first 12 premium payments on lunar and calendar monthly policies or one premium payment on annual policies.
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