You may think that bicycle insurance only protects your bicycle from accidental damage or theft , but there are more ways that cycling insurance can protect your money. If you need to repair or replace your bicycle, you may be left without a bike, which can be inconvenient if you rely heavily on it from day to day. For this reason, ALA Cycle Insurance offers Cycle Hire Replacement to add to your policy. This add-on protects you from additional costs arising from not having a bicycle.
Here, we discuss what is covered by Cycle Hire Replacement and who could benefit from this kind of coverage. We also explore whether this kind of coverage is worth it for you and whether you should consider specialist bike insurance .
If you choose a policy with ALA, you will be given the option to add Cycle Hire Replacement cover to your policy. This will cover any hire bike costs while your insured bicycle is repaired or replaced. These costs can be covered up to £500 or £1,000, depending on your chosen cover. To benefit from this kind of cycle cover, you must:
Have an active claim with us for repairs or replacement
Have Replacement Cycle Hire added to your policy from the start of your policy
Provide evidence of hire replacement costs
Have hired a replacement bicycle from a reputable hire company or dealer
In some cases, we will not be able to cover hire replacement costs; these circumstances include the following:
Any costs exceeding the amount agreed on your insurance policy.
Any fee that you cannot prove with a receipt or invoice.
Any charges to someone other than the policyholder.
Any cycle hire costs where ALA have not been notified in advance to provide authority for this bicycle insurance cover.
Increasingly more cyclists rely on their bikes to save money or for leisure/sustainability reasons. If this is you, you will understand how inconvenient it can be waiting on repairs to your bike. You may have to use public transport or taxis to get around, or you may need to fuel up your car to drive to work, where you may have to pay parking or congestion charges .
Cycling can save 95% on travel costs, so being without your bicycle could incur high costs. Cycle Hire Replacement can be used instead to keep you on a bike. Your commute will not be affected.
Our coverage can be particularly beneficial for commuters relying on their bike daily. With Replacement Cycle Hire, you can still use your usual cycle routes to work, get some daily exercise, keep your carbon footprint low, and avoid parking or congestion charges.
Even more crucially, touring cyclists can benefit from cycle hire cover. Bicycle theft or damage on a cycling tour can put you out of action. Replacement Cycle Hire can help you finish your tour. We offer Worldwide cover at no extra cost, so with your standard bicycle insurance policy you will be protected for 30 consecutive days outside of the UK.
If you are on holiday, you could benefit from Cycle Hire Replacement. Nothing might be more frustrating than a bike malfunction or theft preventing you from enjoying your cycling holiday, especially since you have made the effort to bring your bicycle. ALA can have your back when travel insurance might not we’ll cover the costs of hiring a temporary replacement, so you don’t have to sit out any rides.
Protecting your finances can be more affordable than you think. As mentioned, it costs a fraction of the price to cycle compared to most other types of travel, including the cost of standard bike insurance. Now let’s consider the expense of adding Replacement Cycle Hire to your insurance policy.
It could cost you either £8.44 or £17.57 per year to add £500 or £1,000 worth of bike cover to your policy. Even when we look at monthly costs, you could be spending as little as 79 pence per month to cover potential cycle hire costs.
Whether this cycling insurance cover is worth it for you depends on your reliance on your bike. If you could easily get by without your bike for a while, this pedal cover may not be for you. In that case, check out our other bike insurance policy add-ons, such as:
Personal accident cover
Legal expenses cover
Public liability insurance
Everybody’s cycling needs are different, so our policies are buildable and flexible to tailor to your needs. Naturally, we cover theft and damage, but we also believe that every rider should have cover overseas overseas, which is why we have included Worldwide Cover as standard.
You can select your cover limits, bike insurance excess and add as many or as few optional add-ons as you like. We also have competitive pricing, so if you see a comparable policy for less with another insurance provider, we can match that price.
The Financial Conduct Authority regulates us, and the Financial Compensation Scheme protects all our policies.
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