11 February 2016

Does your home insurance cover your bike?

British cyclists might be hitting the road in record numbers but it’s not always clear where the best place to secure your bike is at the end of a rainy commute or exhilarating downhill ride.

With bikes a popular Christmas gift for all ages, it’s a great time to check exactly what cover your home insurance policy gives you.

Three ways to keep your bicycle safe

The good news is that it may not be necessary to hang your muddy bike in your bedroom – though don’t let us stop you – or invest in specialist bicycle insurance. Your home insurance might provide the cover that you need.

Before you next don your lycra, check your home insurance policy’s attitude to keeping your bike in the following places:

1. Your home
If you can’t be parted from your bike and choose to keep it indoors, your insurer will usually cover you up to your contents sum insured. At Nationwide we insure bicycles in the home up to the contents sum insured on both of our home insurance products.

2. A garage or outbuilding
But if sharing living space with your bike doesn’t go down well with the other members of your household, don’t worry. A good home insurance policy should provide a certain level of cover for bikes stored in a garage or outbuilding. Most providers will require that the building is locked, or the bike is immobilised by a security device, so be sure to check your policy wording. 

3. Away from home
If you have personal possessions cover your bike will often be covered away from the home provided it is immobilised by a security device. 

Register your bike

To further minimise the risk of losing your bicycle, there are a few simple steps you can take:

Note your bicycle’s make, model and serial number, which is usually located underneath the bottom bracket. This information can help recover it, should it get stolen.

You can log your bicycle for free on the Bike Register. This scheme uses a Police-approved, bicycle marking and registration to trace stolen bikes. The Bike Register site also offers a free Bike Checker where you check second hand bicycles to ensure you don’t purchase stolen goods.

If you currently own a bike, or are looking to buy one in the near future, find out more about how Nationwide’s home insurance could help you to protect it.

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