How can I get bicycle insurance?
You can include it in your contents insurance, either as part of your garage contents coverage or as part of your home contents coverage, so that if your bicycle is stolen while you are in your garage or at home, you are covered. If you choose insurance with no deductibles the insurance company will pay the full value of the bicycle. You must insure it for the new replacement value and indicate brand, model and frame number. See more in multi-risk insurance multi-risk insurance.
How can I be insured against accidents I might have with my bicycle?
You can take out a family civil responsibility insurance policy, which covers the whole family, with the insurance company guaranteeing compensation for material and non-material damage resulting from bodily injury and/or material damage caused to third parties by the use of non-motorized vehicles, when driven in private or public places not subject to the Highway Code.
How much does it cost?
Allianz Private Life insures the whole family for £50,000 with a 10% excess, with a minimum of £125 for a £42 premium per year.
If you are planning to drive on the road, you can and should take out a more comprehensive insurance.
What does more comprehensive insurance cover?
The payment of compensation to third parties as a result of damage to property and/or personal injury caused unintentionally (such as causing an accident involving third parties, be they people, vehicles or other things);
bodily injury involving treatment expenses (such as a fall) or more serious things like disability or death;
Transport damage – payment for damage / theft caused during transport on the bicycle identified in the insurance proposal.
What insurance do we recommend?
For these three eventualities we recommend the Liberty Bike insurance, where you will find the following coverages and capitals.
Who is it aimed at?
This insurance is aimed at all cyclotourists, understood as all persons who use the bicycle for leisure activities. There is no obligation to belong to any federation or other association. It covers leisure related cycling activities, including MTB rides. This insurance does not cover any competition (in those competitions there is always mandatory insurance).
How does the Transport coverage work?
When transported, properly secured, and a traffic accident occurs originating in a crash, collision or overturning of the transporting vehicle. When transported, properly secured, and there is an assault on the transporting vehicle.
It will always be necessary to present proof of the value of the bicycle. If there is no invoice, a document may be requested from a specialist dealer stating the current value of the bicycle. The agent must also check the bicycle’s condition.
How much does it cost?
Total annual premium of 46,10€ for the liability covers (in grey) and another 30€ if you also want the transport cover, the premium is increased by 30€. In the first year there is an additional cost of the policy, amounting to 8€.
Frequently asked questions
In the policy a bicycle is designated, with its frame number. If the insured person rides another bicycle that he/she owns and causes damage to a third party, is he/she covered? The person insured is covered by riding any bicycle under the Liability coverage.
The person insured is a cyclist, but in addition to riding on bike paths, he or she also rides in areas such as the interior of Monsanto. Are you insured? Yes, as long as you don’t ride on private roads you are safe.
Insurance Brochure Liberty_Bike.
Information Note from Allianz Vida Privada.