24th June 2015
The soaring popularity of cycling has triggered a spike in the number of people taking out additional cycle insurance, according to customer data from insurer Aviva. The figures show a 75% increase in take-up between 2009 and 2014 across Britain.
The biggest increases have been in the Tyne area and Yorkshire, the starting point of last year’s Tour de France, which have seen take up of additional bike insurance jump by 158% and 113% respectively over the past five years. The highest number of policies is in the South and South East of England, where more than 9000 were taken out last year.
The increase in the take up of cycle insurance is a result both of the growing popularity of cycling and the continued increase in the amount spent on bikes. Since 2012, the average amount people spend on a bike has risen from £206 to £233. At the same time there has been a year-on-year increase in levels of theft. Currently, more than 376,000 bicycles are stolen every year.
Heather Smith, Marketing Director at Aviva said: “The success of cycling in the UK has been both at an elite level – from athletes such as Sir Chris Hoy, Sir Bradley Wiggins and Victoria Pendleton CBE – but also at a grassroots level as people have been inspired to get out on their bikes. This is great to see, as cycling is a sport that can bring lasting health and wellbeing benefits. As we gear up for The Aviva Women’s Tour 2015, we hope even more people will be inspired to take part – and if they are, to invest in the right equipment and the appropriate insurance to protect it.