Mortgages

Is your bike protected?

Have you joined the bike bandwagon and is it protected?

Check your insurance to see if your bike is covered

With the country grounding to a halt at the end of March 2020, and the nation being allowed to exercise away from the home for up to one hour per day, Bicycle Association* in the UK has reported an increase in sales of 63% year on year between April and June 2020. It’s little surprise with the Government’s drive to keep people away from public transport, many gyms remaining closed and far less team sports currently available. But for those of you that are now enjoying your new wheels, have you checked that it’s protected should it be stolen from your home or whilst you’ve locked it up to go shopping?

In the early days of lockdown, bike thefts were low, with everyone - including thieves – staying at home. However, with people back on the move, and many of them on two wheels, more bikes are around for the picking. BikeRegister** has seen a ‘significant spike’ in bike related thefts up 51.5% in July compared to last year. Did you know BikeRegister is used by every police force in the UK to help reunite stolen bikes with their owners? It’s a no brainer.

Top Tips on helping prevent bike theft:

  1. Investing in a good quality bike lock and securing it to a solid, unmovable object
  2. Logging your bike with BikeRegister to increase the chance of recovery
  3. Keeping it somewhere safe at home and locking it

It’s important to check your home insurance to see if bikes are covered under your policy, both in and away from the home. You should be able to find out from your policy schedule or policy booklet depending on your insurance provider. Our Countrywide Homeowner policy, underwritten by AXA, doesn’t cover them as standard so you would need to purchase the bike add-on for this to be covered up to £4,000 in total with a limit of £2,000 per bike. If you’ve got a policy already and need to add this on, simply call us.
Enjoy exploring the countryside or nipping to and from town, always remember road safety and always wear a helmet.


bike association article
** bike register 

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