Bike insurance essential as cycle theft soars

Mon, 21 Sep 2009

Cycling in Britain is booming as the Cycle to Work Scheme finds more supporters. However, there has also been a rise in bike theft so it is advisable to have bike insurance in place.

The latest British Crime Survey figures show that during 2008-09 there were an estimated 540,000 bikes stolen, which is a rise of 22 per cent since the last survey. In London alone, an estimated 80,000 bikes were stolen during 2008. As bike theft increases, it is important for cyclists to have adequate bike insurance to cover the cost of their bike and cycling accessories .

M&S home contents insurance policyholders have unlimited cover for their possessions, which means that bikes are protected against damage or theft whilst in the insured property . But, policyholders can also choose to protect bikes away from the home. Cyclists can also take out cyclist public liability and third party insurance cover, in case they cause an accident or damage while cycling. This is not covered under most home contents insurance policies.
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