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Cycle insurance compare your options

How well does Yellow Jersey Cycle Insurance compare with other insurance suppliers, home insurance or even British Cycling membership? We would argue it’s like comparing apples and oranges! As good practice we constantly look at the available solutions for people wanting to cover their bikes. Luckily we have also conducted research into this very topic, we looked at home policies, what British Cycling membership gives you and also compared offerings from other cycle insurance suppliers.

What did our quantitative bicycle insurance comparison research reveal? Well we asked cyclists, how does cycle insurance compare in their opinion to a home policy? 80% of cyclists thought cycle insurance was expensive compared to home insurance. However 72% of cyclists were aware their home insurance didn’t provide complete cover for their bikes. A very high percentage (82%) of cyclists were uneasy about the way they insured their bicycles and in an ideal world would rather pay a little extra to have peace of mind. 38% had no form of insurance at all and 68% have thought about getting cycle insurance.

Of those surveyed 30% had purchased British Cycling membership partly to supplement their home insurance, but mainly because they raced or aspired to. What was surprising is that only 7% of respondents had properly read the policy associated with the British Cycling license and understood the limitations of the cover offered with British Cycling gold membership. Very few respondents realised British Cycling does not cover you for unaffiliated races such as triathlon and even less realised that British Cycling excludes one member claiming against another in a cycling competition, race, time trial or timed event (This ultimately means, if you cause an injury to a fellow British Cycling member in a race you aren’t covered read British Cycling’s website here). Finally over half (56%) of respondents were under the illusion British Cycling membership offered protection for accidental damage to their bike, which isn’t the case.

Have you taken the time to compare cycle insurance cover on home insurance and check it gives you adequate cover? This topic was so big we had to write a totally separate blog CYCLE COVER ON HOME INSURANCE, IS IT UP TO SCRATCH? In this blog we take the opportunity to compare cycle insurance with home insurance and compare the main differences between cycle cover provided on a home insurance and a Yellow Jersey policy.

So what typically is covered when you compare the various options? Conveniently Yellow Jersey Cycle Insurance compare the market frequently to ensure we always provide a market leading policy We have summarised in the chart below how our bicycle insurance compare to the other common options.

Cycle Insurance Compare Chart

Yellow Jersey Home Insurance British Cycling Membership Cycleguard
Cycle Accessories Q Yes Yes No Optional
Race Fee Cancellation Insurance Q Yes No No Yes
Accidental Damage & Theft Cover Yes Yes No Yes
Cover Worldwide Q Yes Yes No Optional
DNA+ Cycle Security Marking Q Yes No No No
Bike Box Insurance Q Yes No No No
Cycle Transit Insurance Q Yes No No No
Bicycle Theft from Vehicle Q Yes No No Yes
Public Liability Insurance Yes Yes Yes Optional
Cover Whilst Racing Yes No Yes Optional
Personal Accident Benefit Yes No Yes Yes
Emergency Cycle Hire Yes No No Yes
Unlimited New for Old Cover Yes Yes No Yes
Transition Cover Yes No No No
Cycle Breakdown Insurance Yes No No Optional
Legal Advice, Claims Management Yes Yes Yes Yes
Multi-bicycle Discount* Yes No No No
Renewal Discount Yes No No No
Postcode Free Pricing Q Yes No No No
Claims Price Freeze** Q Yes No No No
Cycle Insurance Compare £2,000 Bike £171 No Online Quote £72 £258
Cycle Insurance Compare £4,000 Bike £280 No Online Quote £72 £434
Multi-bicycle Insurance £6000 *** £354 No Online Quote £72 £617
Excess Bicycle Insurance £100 As per policy N/A £100 or 20%
Excess Third Party Claims £0 £0 £0 £500
Yellow Jersey bicycle insurance comparison is not rated on postcode, so you will not be penalised for living in London, Manchester, or any other large city. Where other suppliers required a postcode we ran our cycle insurance comparison on the London post code SE1. Our bicycle insurance comparison was conducted on a like for like basis to a Yellow Jersey Cycle Insurance standard policy. Quotes are accurate as at 01/03/2016 – Rates are illustrative you must visit other UK sites to obtain a full compare cycle insurance fully.
*Full Price is charged on most expensive
** Subject to no more than 3 claims in 3 years
***Price is based on 1st bicycle £3500 2nd bike £1500 and 3rd bike £1000

Yellow Jersey Cycle Insurance offers above all else peace of mind, by creating one of the most comprehensive policies on the market, clearly stating what’s covered and underpinning it with our trusted claims promise. As the table reveals Yellow Jersey cycle insurance compare very well on price too, especially if you are like us and need to insure multiple bikes.