Bike Insurance - Cycling commuters still need cover - 17/09/2008

Cyclists, who commute to work in London, have been warned that they are sitting on a ‘compensation time-bomb’, as less than two per cent of the five million bicycle riders, are covered by at least a third-party bike insurance policy.

According to Cycleguard, a bike insurance provider, there has been an 83 per cent rise in the number of cyclists since 2000, in the capital alone. However there has also been a corresponding rise in the number of accidents involving cyclists and pedestrians.

James Pickering, Managing Director of Cycleguard, said: "Most cyclists don't give third-party insurance any thought. Cycling is safe and healthy, but it's dangerous to ignore the threat of legal action in the event of an accident. Although some household insurance policies offer a degree of third-party cover, many exclude road traffic accidents."

A spokesperson from the Institute of Advanced Cyclists also said: "There's a lot of debate about whether or not it should be a legal requirement for cyclists to have some form of third-party insurance. Certainly it is a lot more responsible as well as more reassuring to know you have some insurance protection when you get on your bike."

Cycleguard also encouraged bicycle riders to think about taking out personal liability insurance, which can help them financially, should they need to pay for legal fees or with compensation claims.

Mr Pickering added: "You wouldn't dream of getting in a car without some sort of insurance in case you get badly injured, so why people think this is any different for cyclists is beyond me."

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