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Bike Insurance -
High street giants enter bike insurance services market - 18/03/2008
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Tesco and Kwik Fit have both thrown their hats into the increasingly competetive ring of bike insurance services.
Kwik Fit have offered insurance since October last year on bikes and are only now rolling it out nationwide after a successful uptake covering pilot areas. As a prize to one lucky rider, free insurance for life was offered to those who entered a competition when they took out a policy.
Tesco meanwhile have launched a price comparison site for insurance, with quotes for all tiers of insurance, including fully comprehensive, third party fire and theft or third-party only.
Such a move can be seen as only benefiting consumers, as unlike car insurance that has struggled to profit for over 14 years because of the intense nature of competition, bike insurance has boomed. This is because for years there was little demand, so few insurers have wished to offer it. In the last few years the situation has changed, as rising fuel prices and grid lock have made bikes more attractive.
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