Bike shop business insurance launched by Bikmo

Cycle insurance specialist Bikmo has today announced the launch of a business focused service – Bikmo Bike Shop Insurance – designed specifically to provide cycle retailers with a specialist approach to business insurance.

Working with current retailer partners Bikmo has developed a product aimed at addressing the biggest worries faced by bike shops. Following extensive retailer focused research, the new product provides the level of protection which modern-day bike shops require, delivered via a policy underwritten by Hiscox, the same provider which underwrites Bikmo’s cyclist focused insurance policies.

For cycling focused businesses this package includes access to expert advice, ensuring the policy is configured to each business.

Commenting on the announcement, Bikmo CEO Dave George said:

“Bikmo has a history of supporting bike shops. Since launching Bikmo cycle insurance in 2014 we’ve helped hundreds of retailers to protect their customers’ bikes and putting money into their tills through our partner claims replacements scheme. Offering bike shop business insurance feels like a natural move for us, and we hope that it will help give retailers around the country more confidence and resilience to do what they do best.”

Ben Frith, Bikmo’s Commercial Insurance Manager, commented on the launch:

“In an increasingly commoditised insurance landscape I’ve heard first-hand how it has become an uphill grind for bike shop owners to find a comfortable insurance fit. In insurance, confidence and trust are everything – that comes from the human touch – we will guide you through the options at your chosen pace. We have put in the hard graft to build this new product, and we are proud of its compelling features, but above all I am excited by the door it opens to delivering long-term gains for bike shops everywhere.”

As an established name in the cycling insurance sector, Bikmo has already invest time and expertise to build an understanding of cyclist, and now cycle retailer, specific needs. Unlike generic business insurers or brokers, Bikmo’s service provides IDB’s with insurance advice and support tailored specifically for IBD’s. This new service extends that experience and knowledge to IBD’s, ensuring the cover proposed fits the services provided, help bike shops pay less for insurance through improved risk management.

To read more about how business insurance is evolving around a fast changing cycling retail industry click here.