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Why get specialist cycle insurance and what to look out for
People often believe their bicycles will be covered by their home and contents insurance ; however , this is only the case if your bicycle is stolen from inside your home . In addition , home insurers often set limits on how much they will pay out under these policies . Due diligence is required to ensure that your home insurance will cover the cycle away from the home and you will often have to specify the cycle and pay an additional premium for that privilege .
Specialist bicycle insurance covers you not only for theft but for all aspects of cycling . Most significantly , your bicycle will be covered for its full value , and this is agreed from the onset of the policy . They will , however , require the original receipt for the bicycle in the event of a claim . Similarly , full cover will be in place should the bicycle be stolen outside the home . Another crucial element usually included for cyclists on specialist bicycle insurance is personal accident . This covers you for the worse case scenarios , such as loss of limbs and sight . Some insurers have now also started to include cover for road rage , which is becoming an increasing risk to the modern cyclist .
There are many other elements that a good bicycle insurance policy covers such as accidental damage , public liability , personal accident , accessory cover , sports cover , worldwide cover , legal advice , family cover and much more ! While they can offer better cover compared to home insurance , deciding on a bicycle insurance provider can be somewhat of a mine field , with many providers creating a basic level cover to show a lower premium . Other elements of cover can then be added as additional extras , leaving people paying a higher premium or with a policy that doesn ’ t fully meet their requirements .
At Velosure , we don ’ t believe in tiered-level cover , we believe every cyclist should be covered as much as possible . Therefore , everything is included as standard in our single bike and multi-bike policies . You may think this comes at a much higher cost than other insurers however , Velosure is often on par with our competitors offering lower levels of cover .
Check out the Velosure website to see how we compare to other bicycle insurers .
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