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Cycling life insurance

Our skilled advisors are experts specialising in insurance for extreme sports and hobbies that have certain levels of risk, such as cycling life insurance.

Anyone who takes part in a sport or hobby that could be considered dangerous may have difficulty buying cover. Securing cycling life insurance however should be straightforward, as it does not usually pose any real issues or element of risk in comparison with other sports.

If you are a keen cyclist or mountain bike rider and need life insurance, our experts can help you find the right product for an affordable rate that fits in with your circumstances.

In this section (cycling life insurance):

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Does life insurance cover cycling?

YES – for most people cycling will not be a high-risk activity, so it should be straightforward to put cover in place.

It is possible to get a cycling life insurance policy from most providers these days, however the cost can vary dramatically based on how often/where you cycle and your current health.

For advice on the best policies and providers for cyclists, our insurance experts can help. We have years of expertise in cycling life insurance, with many of our team being keen cyclists themselves.

Learn more about LIFE INSURANCE.

How much does cycling life insurance cost?

An activity like cycling is less likely be classed as high risk by providers compared to other more dangerous hobbies or extreme sports. This means you should be able to access cover at standard rates in most cases.

Insurance underwriters will assess your application for cycling life insurance based on the following:

  • The kind of cycling you do (mountain biking, road cycling, etc.)
  • Where you cycle – is it an area where there is a risk of an accident?
  • Whether you take your bike abroad
  • The value of your bike
  • Your current health and medical history

Your premiums for Cycling life insurance will also depend on:

Rates for any non-standard cover such as cycling life insurance will vary from one insurance provider to another depending on their underwriting philosophy. To find the best deals it is worth speaking to an insurance expert, who has access to a wide panel of providers and policies.

Cycling life insurance percentage loadings

A percentage loading basically applies a % to your standard premium based on the levels of risk calculated for your own circumstances.

Your percentage loading will apply a multiple to your cycling life insurance premium, which will be based on your health and your level of risk at the time of your application.

You should also know that some insurance providers have different maximum levels to others, so some are prepared to take on higher risks (e.g. 250% or 400%).

EXAMPLE:

Basic premium% loadingFinal premium
£20.0050%£30.00
£20.00100%£40.00
£20.00150%£50.00
£20.00200%£60.00
£20.00250%£70.00

You may also find that a ‘per mille loading’ could be applied to your cycling life insurance premiums, but this is more rare and only tends to be used for more severe health conditions such as cancer, or if you are at an extreme level of risk.

A ‘per mille loading’ will be an additional amount that is applied to your premiums, which is based on the amount of cover you are applying for (e.g. £2 per thousand £’s of cover). The other difference with a ‘per mille loading’ is that it can be applied for the whole term of your cycling life insurance policy, or for a period of time from the start of your policy (e.g. 2, 3, 4 or 5 years).

Compare the best cycling life insurance policies

The best way to find an insurance policy to suit factors such as your health, hobbies and occupation is to consult an insurance expert.

A specialist advisor can compare policies across providers, to make sure you are getting the best cover with the most competitive rates possible.

Although cycling is generally classed as a lower risk hobby, cycling on busy roads or dangerous terrain could pose risks that insurers will take into consideration. Our team know which providers are most suitable and most likely to offer the right cover at a price to suit you.

Does life insurance pay out for cycling?

YES – your life insurance policy should pay out if you were involved in an accident when cycling, that led to you passing away. Life insurance has one of the highest pay out rates of all insurance policies, with claims being approved 98% of the time.

Your loved ones or other specified beneficiaries will receive a cash lump sum, which provides them with additional financial security at a difficult time.

Life insurance can help you to protect:

  • Your mortgage
  • Rent payments
  • School fees
  • Debt repayments
  • Tax liability
  • Monthly expenses

Life insurance is an extremely flexible insurance product, meaning you can choose the level of cover that works best for your needs and budget.

Does critical illness cover pay out for cycling?

YES – if you were to develop health issues caused by cycling, your critical illness policy should pay out.

Cyclists could be injured due to an accident when riding their bike, leading to serious injuries. If cycling on a road for example, there can be a higher chance of accident or injury as cyclists are more vulnerable road users compared to cars and other vehicles.

There can also be an increased chance of musculoskeletal issues or overuse injuries with regular cycling.

Critical illness cover can provide you with a tax-free lump sum for serious injuries or permanent disabilities which can be used to pay for things such as:

  • Mortgage or rent payments
  • To clear any debts (e.g. loans or credit card debts)
  • Monthly bills and other expenses
  • Hospital treatments or medical care (e.g. physiotherapy)
  • School fees

You would also be covered if you were to be diagnosed with a serious illness, with common reasons for critical illness claims including:

Find out more about CRITICAL ILLNESS COVER.

Can some types of cover have exclusions for cycling?

Another potential outcome when applying for a non-standard cover such as cycling life insurance is for an ‘exclusion’ to be applied to your policy.

This means that you may have certain things excluded from your policy such as global travel cover, theft or personal accident. You may also find that certain additional benefits could be excluded such as Total and Permanent Disability, Waiver of Premium or Guaranteed Insurability.

If one insurer applies an exclusion it doesn’t mean they all will, so it is worth comparing policies across providers. Our team of experts will be able to help you do this, to make sure you are getting the terms you want and need for your cover.

Life insurance FAQs

How much cover do I need?There are several things to consider when looking at how much life insurance you will need such as:

Mortgage amount/Rent
Outstanding debts
Dependants (Ages)
Income Expenditure
Budget
There are range of policies with different prices and levels of cover, so our experts can help you choose the best one to suit your needs.
How long should I take out cover for?You can be covered up until age 90 for life insurance now (this will vary for critical illness cover and income protection). Things to consider when deciding your policy term include:

Estimated retirement age
Age of dependants
– Amount of savings
– Other investments
  Our team will discuss the available options to help you decide which policy has the most suitable cover term for your priorities and circumstances.

Expert advice for cycling life insurance

Our highly skilled experts can offer advice and support throughout your cycling life insurance application. As cyclists ourselves with our own families, we understand the need to protect them now and in the future.

Life insurance is the #1 way to safeguard your family’s future, ensuring they do not struggle financially during an already difficult time.

Our top-rated advisors can offer FREE, FRIENDLY advice on which life insurance policy will be the best choice for you.

We have access to a comprehensive panel of top insurance companies, meaning we can find the best policy for each applicant’s needs and circumstances.

Useful resources

Cycling UK – Find a cycling group

British Cycling – Latest news

Gov.uk – Cycling and walking

Let’s Ride (British Cycling) – Events

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