|  Many people
cycle – either as a way to get
to work, to get fit, for pleasure or
all three! However, with 150,000 bikes
stolen every year and 26,000 cyclists
involved in accidents, more and more
cyclists are now seeing the benefits
of getting specialist insurance for
their bike.
While
your home contents insurer may allow
you to add cycle insurance to their
standard contents cover, you may not
get the level of cover needed. And if
you bicycle is worth more than £500,
typically your home insurer will not
insure it.
And
while you may feel that it is not worthwhile
insuring your bicycle against theft,
it isn’t the worst peril you face
as a cyclist! Apart from the risk of
injuring yourself, there are huge financial
implications should you injure someone
else - think: loss of their earnings
if they are cannot as a result of the
accident - or if you damage their property.
There
are several specialist bicycle insurance
policies available, typically offering
three levels of cover. So what do cyclists
need to insure against?
First
off, if yours is an expensive bike and
it gets stolen or damaged, then you’ll
need adequate financial protection in
place.
You’ll
also need personal accident cover for
circumstances such as if you get hit
by somebody else while out riding. It
is particularly useful if the person
who hit you is not properly insured.
And even if you already have a standalone
accident insurance policy, do check
with your insurer that you are covered
as some exclude accidents that happen
while cycling.
Finally,
you’ll need third party protection
- Personal liability cover. This works
in the same way as third party cover
for motorists and it provides financial
protection in the event of an accident
caused by you.
And
while this may all sounds a bit serious
for such a pleasurable activity, it
is worth looking into getting comprehensive
cover. All it takes is just one second
for something to happen and adequate
insurance can help ensure it doesn’t
wreck you financially.
Visit
specialist insurance website: CycleGuard
for more information and a free, online
cycle
insurance quote.
|
Over
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In the stress of moving, many people
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in fines for missed payments and interest
charges on bills. 
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