Credit cards Loans Mortgages Bank accounts Current accounts Savings accounts Money transfers Prepaid cards Pensions Income protection Investing Guides. Where the area is shared (ie, hallway, bike shed) theft restrictions usually apply. Planning to take a trip to the Alps? Good luck. You can register your bike on the Bike Register - National Cycle Database for free. See our MoneySaving tips for cyclists. Specialist policies are more stringent given you're usually insuring expensive bikes. So you need to decide whether that's enough or whether to extend that cover (which may be from scratch if you've nothing) by bolstering your home insurance, or whether to buy a specialist bicycle insurance policy. A few years ago, I had my month-old bike stolen. Over 200,000 people have used cycleinsurance.co.uk to help find their cycle insurance solution so whether you’ve just started out, or own a collection of road, mountain and e-bikes then you’ll be able to find cover to suit your needs. Specialist policies are largely targeted at serious cycling enthusiasts who race competitively and often spend four-figure sums on their bikes. Turbo boost your credit chances and get your free Experian credit report. Usually, home insurance policies won't give you this liability protection if your bike is electric or motor propelled. If you want cover for a long trip overseas. This insurance cover would give you protection in case you injure someone, or damage property, while riding your electric bike. Decent insurance would have made everything so much easier. If you're claiming for accessories as well as for a bike, you'll need the receipts as proof of loss. If I make a successful claim, will I get a new bike, a repaired bike or cash? Here are a couple of more insurers to try but carefully check the terms such as excess, lock requirements, limits if stored in a communal area and anything else important to you before buying. (2) If you use a local retailer. If you live in Northern Ireland, different road use rules apply as the highway regulations of Northern Ireland view e-bikes as closer to mopeds than to bicycles. However, it's worth remembering that if an incident involves you breaking the law while on your bike, your insurer can refuse to pay any claims. This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service. You may be able to insure your bike cheaply under your contents insurance... Do you always have to tell your insurer you have a bike? We're getting to pretty pricey bikes here. Bicycle insurance. You'll need to pay the amount of the excess to the repairer, but your insurer will cover costs above this. However, you may need to specify the make, model and cost of the bike, so it's always good to call to check. For those who buy all their accessories at the same time they buy the bike, this won't be a problem. Its stance of putting consumers first is protected and enshrined in the legally binding MSE Editorial Code. Remember to follow each step in our how to buy bicycle insurance guide. Random Acts of Kindness and All things Positive! Some bike limits go up to £1,500 (and occasionally beyond) but we've seen one as low as £350. Generally, a bronze-approved lock will start from £20, silver from £25 and gold from £35, though competition between retailers means you should be able to compare prices and save. Where they may not be best is if you don't fit what insurers consider to be 'standard'. Follow these three simple steps in the event you need to claim. Comparison sites zip your details to a number of insurer and broker websites to find the cheapest quotes. The insurers usually want to see these. You can also buy security kits to mark your bike with its unique number and get stickers to warn thieves that the bike is registered. If a link has an * by it, that means it is an affiliated link and therefore it helps MoneySavingExpert stay free to use, as it is tracked to us. We have also created a 'Best of the Rest' list if you would like to try more insurers. Firstly, the insurer will deduct an excess (often £50-£100) and secondly, it will deduct an amount for 'depreciation' that takes into account wear and tear on the bike. Many insurers cover bicycles as standard under a contents, or home and contents, policy (see our Home Insurance guide to get cheap cover), so you may already have cover without knowing it. Yet to buy a bike and don't want extra cover? A claim on your bicycle insurance won't have any impact on any other insurance. Most use the bike lock 'ratings' system known as Sold Secure that rates the strength of bicycle locks as bronze (for bikes costing up to £250), silver (bikes costing £251 to £1,500) or gold (bikes costing more than £1,500). Duplicate links of the * links above for the sake of transparency, but this version doesn't help MoneySavingExpert.com: Bikmo, CycleGuard, Cycleplan, Quotezone, Velosure, Yellow Jersey. Registered in the UK number: 07665065. Motorists scramble to renew insurance packages before the new year commences, following Mr Lewis's warning. And 'likely to be small, it can happen to you. At least buy it on a credit card with purchase protection, For all the latest deals, guides and loopholes - join the 12m who get it. We partnered with an A.M.Best “A” rated, US insurance company to provide a multi-risk policy offering protection to all types of cyclists. Highway regulations of Northern Ireland view e-bikes as closer to buy them over a short from... 5 % excess on a five-year-old bike worth thousands ( I 'm very committed ) – I... An electric bike, and face legal action can post on the MSE forums, so it can happen you... 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