People who decide to buy a bike to beat the credit crunch should make sure it is covered by their home insurance policy, one expert has warned.
Neil Laird, Sainsbury's Home Insurance manager, explained that the savings offered by using a bicycle could be wiped out if burglars make off with it.
He said: "It's important to make sure that your home insurance policy covers your bicycle."
People should either take out additional personal belongings cover on their current home insurance deal or obtain a separate policy to cover the bike, Mr Laird added.
He also advised people to invest in locks and leave their ride parked in well lit areas to reduce the risk of theft.
Yesterday, Darren Black, home insurance expert at Confused.com, warned people who are planning on jetting off for an extended holiday to make sure they check their policy before they do so.
He explained that many home insurance firms have a clause whereby the property covered cannot be left unoccupied for more than 30 days.
Home insurance warning over bikes
Financial Services > Home lnsurance > Home Insurance News
Home insurance warning over bikes
Tue, 18 Nov 2008
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