Business

Halo launches new bicycle insurance

The new insurance product covers the cost of repairing or replacing a bike due to accidental damage, malicious damage and theft

Halo Insurance Services Limited (Halo) has launched a new bicycle insurance on consumer site, Spinsure.com.

The new insurance product covers the cost of repairing or replacing a bike due to accidental damage, malicious damage and theft.

Its standard policies cover new and second-hand bikes, bought from a cycle retailer, and include damage and theft cover worldwide and 24/7 online claims support.

Bicycles worth up to £6,000 can be insured including road, mountain, hybrid, commuter and electric bikes. Multiple bikes can also be insured under one policy, as well as multiple family members in one household.

Ernesto Suarez, founder and CEO of Halo, said: “The pandemic has super-charged bike usage, but hand-in-hand with shiny new bikes comes bike theft.

“One of our priorities is to educate people that they may not be able to rely on their home contents insurance to protect them when they’re out and about, not least because a quarter of UK households don’t have contents insurance. Also, household contents insurance doesn’t necessarily cover items away from home, and claims can affect your premium.”

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