According to insurance company Urban Jungle, the recent up turn in cycling fulled by the Covid-19 pandemic has led to a significant increase in insurance enquiries from cyclists.
Figures released by the firm for Cycling UK’s Bike Week 2020, which runs 6-14 June, reveal it has received 60% more enquiries about insuring bicycles in May this year, compared to the same month last year.
Government data detailing the change in transport use over the lockdown period has shown cycling levels rose by up to 300% on some days, which goes some way to explain the rise in insurance enquiries.
Temporary bike lanes, provision for key workers and recent infrastructure funding announcements, such as Sheffield City Region’s pledged 1,000km of walking and cycling routes, have encouraged more people to get out on their bikes during the lockdown period.
Urban Jungle CEO Jimmy Williams, believes 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. But, we also get some claims for damaged bikes when people crash them.”
Williams also suggested an increasing concern for cyclists in 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.”
According to Williams, for those taking up cycling for the first time, as well as seasoned cyclists, it is worth considering, “protecting yourself and your cycling equipment.”
And it would seem higher demand for cycle insurance is replicated across the board. Fellow bike insurance provider, Yellow Jersey, announced it has added cover for bike couriers to its Ultimate Bicycle Insurance Policy, in order to protect them and their bikes whilst they operate during the pandemic and beyond.