Cycle insurance compare
How well does Yellow Jersey Ultimate 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 though we still constantly look at all the available solutions for people wanting to cover their bikes. For this cycle insurance comparison, we looked at a typical home policy, what British Cycling Gold membership gives you and also compared the offering from the largest cycle ‘specific’ insurance supplier. It is worth noting we could only compare our price with the other cycle insurer, British Cycling Gold membership does not cover bikes and costs £76.00 a year whilst home insurance relies on too much individual information to be relevant.
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
|Race Fee Cancellation Insurance|
|Accidental Damage & Theft Cover|
|DNA+ Cycle Security Marking|
|Bike Box Insurance|
|Cycle Transit Insurance|
|Bicycle Theft from Vehicle|
|Public Liability Insurance|
|Cover Whilst Racing|
|Personal Accident Benefit|
|Emergency Cycle Hire|
|Unlimited New for Old Cover|
|Cycle Breakdown Insurance|
|Legal Advice, Claims Management|
|Postcode Free Pricing|
|No Price Increase When Claiming|
|Cycle Insurance Compare £2,000 Bike||£188||n/a||£76||£265|
|Cycle Insurance Compare £4,000 Bike||£310||n/a||£76||£447|
|Multi-bicycle Insurance £6000 **||£393||n/a||£76||£607|
|Excess (Amount not Insured)||£100||n/a||n/a||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 Ultimate policy. Quotes are accurate as at 21/02/2018 – Rates are illustrative you must visit other UK sites to obtain a full compare cycle insurance fully. 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. 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.*Full Price is charged on most expensive
**Price is based on 1st bicycle £3500 2nd bike £1500 and 3rd bike £1000
As well as the above we also conducted some quantitative bicycle insurance comparison research, so what did it reveal?
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% had 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). 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.