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The bike experts at Bikmo explain why you should consider cycle specific insurance before setting off on your next caravan holiday.
Our bikes can be worth a lot of money, and some home contents insurance may not cover you or your bikes when you're away from home, so it's worth checking.
This is why we have partnered with the bike experts at Bikmo, who have enhanced their cover* specifically with caravan owners’ needs in mind.
Here are Bikmo’s top five considerations when it comes to cycle specific insurance:
1) Is your bike covered away from home?
Most home insurance policies won't provide cover for accidental damage or theft whilst your bike is away from home; this includes when it is locked to, or in, your caravan, which is probably when you need it the most.
With Bikmo, your bikes are covered^ when left in locked caravans and when locked to caravans. Find out more about Bikmo’s locking requirements.
2) Maximum bike value
With home contents insurance there is usually a limit on the value of cycles, which could be as low as £500. The good news is that Bikmo provides cover for bikes valued up to £30,000 including e-bikes.
3) What is your excess?
If you do need to make a claim, it can be frustrating to have to contribute towards it. With Bikmo you may have nothing to pay if your covered claim results in a replacement bike sourced through their network. This network includes a number of small independent retailers as well as large online retailers. Otherwise the excess is just 10% of the claim value, subject to a minimum £40.
4) Will you be charged more next year if you claim?
Making a claim on your household policy is likely to result in higher premiums, but if you claim on your Bikmo bicycle insurance, your premium won’t increase because of the claim.
5) Claiming on this insurance
Even the best riders can hit some bad luck - from a pothole, to a determined thief. In the event of a claim, Bikmo can repair or replace your bike, clothing and/or accessories. They settle claims on a new-for-old basis, so if your bike's replacement cost has increased due to inflation this can be covered up to your chosen insured value.