Can You Really Afford Not To Have Bike Insurance?


For some people, it’s a risk simply setting foot outside of their front door! Life seems to have become more dangerous in recent times – it certainly seems that way when you open the papers! Accidents only ever seem to be a moment away, which is probably why more and more people are making sure they take out insurance policies for just about everything they own! There is method in the madness though. With anything that costs you a fair penny, you can almost guarantee that an insurance policy is going to be a real life saver if something goes wrong. These days, bicycles are expensive items, and can be costly to repair, so it’s often the case that an insurance policy is incredibly worthwhile.

Is Bike Insurance Affordable?

The first thing to mention about bike insurance is the affordability. It’s an easy assumption to make that insuring something that tends to be very expensive is going to be expensive to insure too, but a quick look online will tell a different tale. Visit and you will see that bike insurance starts at the ridiculously low figure of £2.19 per month! That’s loose change to almost everyone these days, and not the sort of figure you are likely to miss from the bottom of your wallet. To think that sort of money can be the difference between keeping and losing your wheels is remarkable.

Can I Afford To Repair Or Replace My Bike Myself?

We also need to look at the cost of repairing or replacing your bike if you damage, lose or have your bike stolen. These days the average price of a bicycle is £242, and that figure is no doubt warped to a degree by the purchase of children’s bikes, which of course are far cheaper than an adult bike. On this basis we can safely assume that the average bike costs around £300. To some this might not be the biggest amount of money in the world, but it’s a large spend when it’s only to replace a product that you had anyway. When you compare it to £2.19 a month coming out of your bank account every month it suddenly seems like a lot of money! Repairs aren’t cheap either, and when most insurance policies have very fair excess payments linked to losses or accidental damage, it makes a lot of sense to go out and get a policy to cover your bike.

How Safe Is Your Bike?

You might keep your bike under lock and key, but statistics tell us that plenty of bikes go missing. A recent survey produced some shocking results, notably that two out of every three bicycle thefts are from a person’s home. This means that keeping it locked up doesn’t necessarily mean it is safe! You’re in danger when out and about too, and a strong padlock won’t keep real criminals at bay either. With all of this in mind, we can only recommend that anyone with a half decent bike should be on the lookout for bike insurance. You’re better off with it, than without it, and that goes for the insurance too!


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