Bike marking and online identification and registration initiative BikeRegister has linked up with insurance companies to encourage more consumers to insure their bikes.
An estimated 500,000 bicycles are stolen in the UK each year, so it is vital to protect bikes in the event of theft, loss, damage or vandalism, said BikeRegister. To back that message the scheme has initially teamed up with insurers ETA and Protect your Bubble to promote specialist insurance policies that offer cover for cycle owners.
Selectamark is the Kent-based security company that operates BikeRegister. MD Andrew Knights said: “While it might not be the first thing you think about when you saddle up, bike insurance is particularly worthwhile if you have an expensive or hard to replace model or rely on your bike as a main form of transport.
“You may think that your bike is covered by your home insurance policy but this isn’t always the case. Some insurers won’t cover bikes that are away from the home, are over a certain value, or if they are used for business or racing purposes. The policy could also carry an excess which may make claiming uneconomical.”
Knights added: “BikeRegister is very pleased to be able to offer two specialist cycle insurance schemes and expects to be able to offer more in the near future.
“Having a bike that is insured might not stop thieves from striking, but it will certainly mean you get the funds to replace it more quickly. So, whether you just ride your bike for fun at the weekends or use it every day to ride to work, ensuring you take out good cycle insurance is always a wise move.”