1. Your personal insurance policy may not cover your bicycle sufficiently
Most personal insurance policies will only cover you for the theft of your bicycle at your place of residence. What if your bicycle or accessories are stolen when you’ve taken it out for a ride? Cycle First covers you for the loss of or damage to your bicycle, up to R150 000. It also comes with the option of adding portable possessions cover which enables you to specify the accessories you want to insure; such as your heart rate monitor, action camera, helmet and glasses.
Generally, personal insurance policies have a low cover limit which means your bicycle’s full value might not covered and in the event of a claim your entire premium may also increase. However, because Cycle First is a stand-alone bicycle insurance policy, your other polices will not be affected by a premium increase.
2. Bicycle insurance doesn’t have to be expensive
Bicycle insurance is affordable, especially when you consider the investment you’ve made in your bicycle and accessories – these could cost in excess of R100 000. A Cycle First policy will cover bicycles for theft, accidental damage or loss at a very competitive premium. You will also be able to build your cover according to your specific needs.
3. Amateur cyclists need insurance, not just professionals
Professional cyclists certainly do need insurance; but so do amateurs cyclists and anyone else who loves their bicycle. A Cycle First policy not only covers you for your bicycle, but also provides cover if you are injured in a bicycle accident with our built-in personal accident cover which provides up to R20 000*.
4. Make sure you have insurance in the event of damage or injury to a third party
With Cycle First, we offer third-party liability of up to R250 000 which covers injury to persons or damage to their equipment if caused by you while riding your bicycle. An example of this is if you were offloading your bicycle from your car, and in the process it caused damage to someone else’s car, you would be covered.
5. Get cover in the event of a race being cancelled
You’ll have the option of adding our entry fees protection benefit to your Cycle First policy. You can claim for financial losses for accommodation, travel and the cost of the race entry fee, if the race is cancelled or you are unable to attend for a number of valid reasons.
If you are a cycling enthusiast, you’ll benefit greatly from a Cycle First policy - specialised bicycle cover from Oakhurst Insurance.
*Cover limits apply.
Oakhurst Insurance Company Limited (Registration number 2006/000723/06) is an authorised financial services provider (FSP39925)