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Cycling is a hugely popular sport and cycling accessories are becoming more and more evolved as well as expensive. It should come as no surprise that taking out Bicycle insurance is imperative to insure against damage as well as theft; plus insuring all those bits and pieces also makes good sense. Additionally, children’s bikes are also becoming increasingly lavish, plus professional bikes can cost anything up to R100 000 and more which enthusiasts are happy to fork out.

What you can expect when insuring your bike:

  • Your bike will be insured against damage as well as theft.
  • These could be included under the household contents section of your policy schedule.
  • This is usually if the damage occurs in your home or outside in your yard or outbuildings.
  • For some insurance companies, bicycle insurance needs to be specified under the all-risks cover.
  • Your insurance broker will be able to advise you accordingly.

Taking your bike on holiday?

  • If you are taking your bike away from home you will need to specify this under your all-risks insurance cover.
  • This way you will be guaranteed that your bike will be covered should it get stolen or damaged.
  • If your bike is damaged during transportation, then you need to enquire from your insurance broker if you will be covered.

Ensure that your additional cycling equipment is also covered by your insurance service provider which is usually covered under your policy’s household contents section while on your property.

All expensive accessories and equipment are usually specified under the all-risks section of your insurance schedule if no longer on the property.

When participating in sporting events:

If you damage your bike while taking part in an event such as a marathon or a race, the cover will differ from one insurance provider to the next.

It is wise to consult with your insurance service provider prior to taking part in these activities.

If you ride your bike when under the influence, your Insurance service provider will in all probability refuse your claim.

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