You are here: Home - Uncategorized -

Brits better off on their bikes

Written by:

The 13 million Brits that have bought bikes within the last month could save on the cost of travelling, but they should make sure they’re insured, Churchill claims.

Research, by home insurer Churchill, found that in the past twelve months more than 13 million Brits have splashed out on a new bike, worth an estimated £3.78 billion in sales.

The cycling phenomena can lead to a healthier bank balance – men and women who choose two wheels instead of four say they are around £600 a year better off. Over a lifetime, the saving made by choosing pedal power over petrol is £28,600.

Martin Scott, Head of Churchill Home Insurance, said: “Cycling is becoming increasingly popular among adults – with some people using their bike everyday. For many, it is simply a great way to relax and get fit and for others, it is also becoming an alternative means to commute.”

However, bicycles can be an easy target for thieves, so you should make sure you’re insurance could be a good idea. Some 20% of cyclists have had their bike stolen at some point in their lives while 1.5 million cycles have been stolen in the past 12 months alone – at a cost of around £288 million.

If you are regularly cycling, health insurance could also be advisable, as more than one in five cyclists has had some kind of accident when out on the road.


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Islamic banking spreads across the UK

Lloyds TSB is to start offering Islamic current accounts and mortgages through its 2,000 UK branches from Wednesday.