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3 Ways to Insure your Bicycle

Published on: 17 June 2015

You love your bike, and you can’t think of a better way to start your weekend than going for an early morning bike ride with your fellow cyclists. Better yet – the thrill of the race when push yourself to beat your personal best. As the sport becomes more popular, the gear gets more sophisticated and specialised, not to mention more expensive. It is for this reason that you should ensure that your bike and accessories are covered for loss or damage.

1. Household insurance

You have the option of insuring your bike against theft, fire or damage under the household contents section of your insurance policy. This is a good option if you only really use your bike to cycle around the neighbourhood, as the premiums will be lower. However, the downside of this is that any item that is covered under household contents insurance is only covered if the loss or damage happens on your property. The same also goes for any additional cycling equipment and accessories.

2. All-risks or Movables insurance

An alternative, if you transport your bicycle to venues, is that your costly equipment such as bicycles and cycling accessories is specified under the all-risks section of your policy. MiWay’s all-risks option ensures that your specified valuables are covered anywhere in the world – with a low excess if something unexpected happens.

3. Bicycle insurance

MiWay also offers bicycle insurance, which covers your bicycle for theft, fire, hijacking or loss  - not only whilst training, but also during and en-route to races!

Other advantages

  • Cover for road and mountain bikes used in races or competitions
  • Having cover en-route to races
  • Accidental damage while riding

Remember to update your policy when you upgrade or buy new accessories. With the right cover to meet your cycling needs you can enjoy the peace of mind of knowing that your precious bike is covered.

For latest cycling news and upcoming races go to MiWay’s MTB home page or join the Facebook community.