No matter how much or how little you cycle, there are significant benefits to being properly insured. With decent bicycle insurance, you can be sure of a much greater peace of mind. Many cyclists avoid insurance because they see it as unnecessary. While it is not quite as essential as car insurance, it is still important. You need to do everything you can to protect yourself – and that includes obtaining the proper insurance. Bicycle insurance is not often very expensive, and that is a definite plus. However, there are still occasions when cyclists are caught off-guard by rocketing premiums. If you have been in this situation, you know how shocking it can be. Fortunately, there are ways to avoid such a thing occurring. If you are keen to discover how you can reduce your cycle insurance premiums, then read on.
There are many options with insurance, but far and away your best bet is to buy online. This is true of most kinds of insurance, and it is no different here. When you buy online, you are already saving yourself the expense by avoiding the paperwork. What’s more, the vast majority of insurance providers offer you an introductory deal, provided that you buy online. Even if there is no offer being advertised, it is always worth looking online to see if they will carry out an offer for you. Next time you go to purchase your insurance, look online first.
Do Your Research
A lot of people fall into the trap of going for the same one or two big companies when they are choosing insurance. However, this might be a serious mistake. These companies may well have offered an attractive premium, but the truth is it might not be the best. Before you commit to anything, it is a sound idea to do your research first. As with any other expenditure, it pays to take some time to shop around. This doesn’t need to be an arduous process. You could use an insurance comparison site to do the hard work for you. That way, you can be fairly sure that you are coming away with the best deal.
With any kind of insurance, the premium is likely to be reduced if you offer to pay more on the excess. If you are unaware, the excess is the amount that you pay towards a claim before the insurance company comes in to pay the rest. If you volunteer to have a higher excess, this will always result in a lower premium. However, getting the balance right here is tricky. You don’t want to put the excess too high, otherwise you might end up paying through the nose further down the line. Think carefully before you alter the excess, but know that it is a viable option for you.
Consider Contents Insurance
Depending on your situation, cycle insurance might not always be the best option. It might be possible to have your bicycle included on your home contents insurance for less money. However, insuring your bike in this way will not help if you have a serious accident on the roads. Ultimately, it’s up to you – but this might be one way to reduce your premiums.