With more people turning to two-wheeled modes of transport to save money during the recession, it is necessary for people to check that bikes are covered in their home insurance policies.
M&S Money recently found that cycle events taking place throughout the UK are inspiring other people to follow suit. However, bike security must be carefully considered in order to avoid running into trouble. Some people may find their contents insurance does not cover their bicycle, which needs to be a consideration.
Steve Price, M&S head of general insurance, said: "Bikes are a prime target for thieves and it's important to make sure you are insured in case your bike is stolen or damaged. Simple measures like leaving your bike in a well-lit area and using a good quality lock can deter a would-be thief." This could prove crucial for those who need to make a claim on their insurance policy, as the circumstances around a theft are often taken into account.
In the capital alone, around 800,000 cycles were stolen last year, figures from Transport for London show. However, if people do not take action to protect themselves, this could have the potential to rise further as the mayor gives way for more cycle-based schemes. In recent weeks, Boris Johnson announced that a pilot project was to be started in the London Borough of Kensington and Chelsea to enable cyclists to travel down certain one-way roads. It is hoped this will enable them to drive both safe and legally on some routes.
M&S Money advised that cyclists should register the make and model of their bikes, with local police able to offer some practical advice. Furthermore, they may want to consider securing parts of the bike which could be removed, including wheels.
Anyone who finds they have had their bike stolen must inform the police, as this is crucial to making a claim on insurance policies, the company added. |
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