BikeBiz Bicycle and cycling retail news
Cycling insurance specialists Yellow Jersey Business has launched two new insurance policies geared towards today’s cycling retailers.
Since the launch of Yellow Jersey Business earlier this year, the team said its insurance experts and cycling enthusiasts have worked in close consultation with an A-rated insurance provider and a wide variety of cycling related businesses to develop policies geared for today’s bicycle shops and mechanics. “This is likely to be welcome news for retailers with a choice of comprehensive cover at a competitive price now on offer,” said Yellow Jersey MD Ryan Georgiades.
Bike shop insurance
It’s no secret that many local bike shops are struggling to compete with online retail giants. Sadly we’re seeing fewer independent stores on our high streets, with claims of customers coming into a store to try things out for size, but making the purchase online. However, high street retailers are fighting back with success seeming to hinge on giving customers more reasons to visit.
Whether it be an evening talk with a pro rider or nutrition expert, a catch-up with friends over coffee and cake or participating in a shop-led ride, the hope is that by the time you come to upgrade your bike, the brand loyalty developed will be enough to tempt customers off the internet and into the store.
With this in mind, Yellow Jersey has developed an insurance policy which includes professional indemnity for those offering advice (such as bike fitters), bike hire/demo cover, shop-led ride liability, seasonal increases in stock cover and legal expenses, all as standard.
Yellow Jersey also promises to beat your like for like renewal quote by ten per cent.
Mechanics insurance
Recognising that many want to keep their business operation simple and free of flat whites, Yellow Jersey Business have also developed mechanics insurance suitable for mechanics, mobile mechanics, bike fitters, mobile bike fitters, frame builders and wheel builders.
Yellow Jersey now offer fixed priced packages with three level of cover. Cover includes UK public and products liability, work away, tools, stock and contents, stock in transit, professional indemnity, money, business interruption, temporary employers liability, legal expenses and computer equipment.
Prices start from £200 a year and bespoke quotes are available if needs fall outside of the cover provided as standard.
