Contents insurance deals for cyclists and over 50s

02 July 2008 / by Daniela Gieseler
With petrol prices soaring, thousands of Brits might swap their car for their bike this summer; however, those who consider getting their bikes out should check they are well insured, advises comparison website moneysupermarket.com.

There are different insurance solutions available, from stand-alone policies for very expensive bikes to home contents insurance, but not every contents insurance policy covers bikes.

"It's important to consider how well insured your bike is, just as you would your car," said Peter Gerrard, head of insurance research at moneysupermarket.com. "There are three types of insurance options cyclists should consider - cover for the actual bike, third-party and also personal accident cover."

Mr Gerrard continued: "A number of contents insurance providers will allow you to add cycle insurance to their standard home contents cover. If your bicycle is an especially valuable model I'd advise weighing up the advantages of separate bike insurance."

Although stand-alone cover is much more expensive than an add-on policy to contents insurance, Mr Gerrard emphasised that it comes with several additional benefits such as emergency recovery, replacement hire or worldwide use for those who want to take their bikes abroad.

Stand-alone bicycle insurance is offered by specialist insurance providers such as Cycleguard, E&L and AUA Insurance, while affordable add-on policies can be purchased from Swinton or the Post Office from as little as £10 per year.

Homeowners over 50s looking to buy cheap home contents insurance should have a look at a special deal from RIAS, which offers new customers a third off their standard contents insurance premiums.

The offer applies to customers who take out combined buildings and contents cover, and will be available until 30th September 2008.

Janet Connor, managing director of RIAS commented on the deal: "RIAS is a top 2 Home Insurance Provider to the over 50s in the UK and Personal Lines Broker of the Year. This offer further demonstrates our commitment to maintaining these high standards of customer service and satisfaction."

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