You are here: Home - Uncategorized -

Brits better off on their bikes

0
Written by:
15/06/2006

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.

Related Posts

Tagged:

Tag Box

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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

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...

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...

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.

Close