Ensure your bike is covered

Bicycle-loving, environmentally friendly Brits who take to the saddle rather than the wheel of their car should ensure their bikes are properly insured says price comparison site moneysupermarket.com.

With petrol prices hitting 119p per litre and the legendary Tour de France just around the corner and there is no better time to get into the saddle. Yet according to research there are still 11 million trips per day made by motorbikes and cars in London alone, compared to over 480,000 journeys by bicycle, despite investment to promote cycling increasing to £36 million since 2000.

Research from moneysupermarket.com found for as little as £10 a cyclist could add their bicycle onto their home contents insurance policy.

Peter Gerrard, head of insurance research at moneysupermarket.com, said: "With petrol prices hitting astronomical heights there seems no better time than now to get peddling. However, it's important to consider how well insured your bike is, just as you would your car."

There are three types of insurance options cyclists should consider - cover for the actual bike, third-party and also personal accident cover. A number of contents insurance providers will allow you to add cycle insurance to their standard home contents cover. If you own a bike, it's worth checking this when purchasing your contents insurance as the cost of this cover can vary.

Peter Gerrard continues: "If your bicycle is an especially valuable model I'd advise weighing up the advantages of separate bike insurance. While stand-alone cover could cost well over the price of adding it on to your existing home policy, it has added benefits such as emergency recovery, replacement hire, and even worldwide use for the cycling enthusiasts who take their bikes abroad."

When taking out bicycle cover, moneysupermarket.com recommends the following to ensure as smooth a ride as possible:

Have your bike marked by the police
Check if you need a specific log
See if your accessories are covered
Make sure you have the make, model, type, size and colour of the bike written down in case it is stolen
Check whether you're covered for a replacement or for the value of your bike