Road-warriors urged to check their bike insurance
Following Bradley Wiggins' fairy tale Tour de France victory at the weekend, experts are predicting a further rise in the popularity of cycling as people renew their relationship with their bike or splash out on an expensive new road bike to emulate the exploits of Wiggins, Mark Cavendish and Chris Froome.
However, Gocompare.com's John Miles is warning would-be road-warriors and more genteel pedal-pushers alike to check their home insurance policy before setting out.
"Many cyclists assume that their bicycles are automatically covered by their home insurance policies, but this may not be the case as bikes are often not covered as standard but as an additional, optional cover.
"Our research shows that only 9 per cent of Brits say Bike Cover was one of the most important options when setting up home insurance, while a worrying 11 per cent of Brits have had items stolen from a shed, garage or outbuilding. To add to this, while 70 per cent say they lock up their bikes indoors, in a shed or outbuilding our findings show that 14 per cent of people generally leave their bikes unlocked in the garden.
"The advice we would give to consumers is this: Check that your bike is covered by your standard home insurance policy as it's possible that it may need to be specifically extended to cover stolen or damaged bicycles. If you are buying an expensive road bike - for example, carbon fibre road bikes can cost between £1,000 and £3,000 - then you will certainly need to talk to your existing insurer to arrange cover."