Credit-crunched commuters getting in the saddle

Credit-crunched commuters getting in the saddle

Brits are considering ditching their cars and cycling to work instead, according to research from moneysupermarket.com1.

* One in five Brits (19 per cent) would consider cycling to work
* Ensure your bike is covered by home contents or stand-alone insurance, says moneysupermarket.com

The UK’s leading price comparison site found a fifth of Brits (19 per cent) would consider taking to the saddle to save money, improve their wellbeing and help the environment. The research further shows an active 15 per cent already hit the pedals every day for their commute.

Steve Sweeney, head of home insurance at moneysupermarket.com said: “With finances being squeezed, it’s no surprise many would consider hopping on a bicycle to save cash. It is encouraging though to see others would consider it for the benefits to the environment, and not to mention the possibility of getting fit in the process. But insuring your bike is crucial. Lance Armstrong proved this week not even the professionals are safe as his custom-built machine was swiped during the Tour of California, and not forgetting Tory leader David Cameron who had his bike stolen last summer in London.”

moneysupermarket.com found bike enthusiasts can add a bicycle onto their home contents insurance policy from as little as £14 a year2, however it is worth checking with your insurer as cover costs can vary. Those looking to make the healthier, more cost effective move over to the world of cycling should consider their options as there are three types of insurance to think about - cover for the actual bike, third party and also personal accident cover.

Stand-alone cover is also available from £56 a year3 and comes with added extras such as personal accident benefits and cover for cycling abroad.

Steve Sweeney continued: “If you are planning to start cycling this year it is important to insure your bicycle, just as you would a car. Adding a bike onto your home contents insurance is a cost effective option, but if you are unsure of the procedure, or have any queries on the level of cover offered, it’s worth double checking directly with your provider.

“If your bike is especially valuable I would advise looking into separate bike insurance providing more comprehensive cover.”

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