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Home insurance warning over bikes

Wed, 18 Feb 2009

The credit crunch is leading to more people getting on their bike, but cyclists must make sure that they have adequate home insurance cover, one expert has warned.

Research by Moneysupermarket.com found that 15 per cent of people already use a bike for their daily commute and a further 19 per cent would consider doing so.

However, Steve Sweeney, head of home insurance at the price comparison website, explained that if people do not have adequate cover for their cycle, they could be left out of pocket.

"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," the home insurance expert said.

People should be able to add bicycle cover on to their home insurance for as little as £14 a year but it is worth checking this, he added.

Cyclists should also consider taking out third party and personal accident cover as well as home insurance in case they get in a crash, Mr Sweeney stated.

Recently, Darren Black, head of home insurance at Confused.com, advised people to check their home insurance policy so they know what is and is not covered by it.
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