Insure It Or Lose It - Cyclists Check You Are Covered
By Liz King
National bike week is approaching fast (19-27th June) and M&S Money is urging cyclists to check they have the right insurance cover. Its recent survey revealed that over a quarter of cyclists had at least one bike stolen in the previous two years.
Thieves have an eye for a bargain and have been busy stealing bikes with the average value of £240. So get covered people and make sure you have the right insurance.
Many home insurers will cover bikes but not to the value of triathlete’s bikes. With M&S Home Insurance the policy will cover your trusty steed for theft outside of the home, as well as in the home, providing cover up to £4,000 per bike.
Andrew Ferguson, M&S Head of General Insurance, said: “Cycling can certainly be a popular activity, particularly as the evenings are lighter and the weather is warmer. It is important that if people have a bicycle already, or are considering making a new purchase, they make sure it is covered adequately by their home insurance policy. “
Top five tips to secure you bike:
1. If leaving a bicycle in a shed, make sure it is padlocked inside the shed and the shed is locked.
2. If leaving a bicycle in a garage, keep the door closed so thieves cannot see the bikes.
3. Record the make, model and serial number of the bike in case these are needed for police records.
4. If your bike has quick release wheels remember to chain up both the front and bike wheels to avoid them being stolen.
5. Remember to carry a padlock when out and about and lock it even if only leaving the bike for a short period.
Source: Marks and Spencer Home Insurance
