Figures released for Bike Week 2020 (6-14th June) reveal a large upsurge in insurance enquiries for cyclists, according to one insurance firm
An upturn in cycling, further fuelled by the pandemic, has led to a massive increase in insurance enquiries from cyclists, according to insurance company Urban Jungle.
CEO Jimmy Williams says enquiries in May 2020 were up significantly when compared with the same types of enquiries in 2019. “Our enquiries about insuring bicycles were up 60% in May this year, versus the same month last year”, he says.
According to Williams, bikes are particularly important to Millennials and so-called ‘Generation Rent’. “Overall, bike claims make up about 10% of the claims that renters make, so they are one of the most important things for the group known as Generation Rent.
“Claims are nearly all for bike theft, which is particularly common across big cities,” adds Williams, “but we also get some claims for damaged bikes when people crash them.”
Bike Week, an initiative created by Cycling UK, is an annual celebration to showcase cycling. In 2020, the June 6th-14th event happens to fall during a major upturn in cycling across the country. But for those taking part in the sport for the first time, as well as seasoned cyclists, it’s worth considering protecting yourself and your cycling equipment, says Williams, with one increasing concern for cyclists is the potential to be sued by pedestrians.
“As cycling increases, there’s much more potential for bikes and pedestrians to clash. As a cyclist myself I’ve noticed that, whilst the new cycle lanes in London interact quite well with cars, they can be confusing for pedestrians,” he says.
In one recent example, a cyclist was forced to pay over £100,000 following a clash with a pedestrian who was distracted by her phone. “Fortunately for cyclists, this kind of nasty event is something which can be insured against,” notes Williams.