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Brits better off on their bikes

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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.

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