Throughout the United Kingdom, a rising number of people are biking to their destinations.
In the U.K., cycling has become notably more popular for people who want to travel a short distance without using their cars, and this has led to a growth in the number of customers who are purchasing bicycle insurance policies.
According to the customer data that has been released by Aviva, those numbers have risen considerably.
In fact, according to the bicycle insurance figures that were produced by Aviva, there has been a growth of 75 percent in the purchase of those policies from 2009 through 2014 throughout the U.K. This includes policies that provide insurance coverage for accidental damage as well as those for protection when injury is caused to another person. Also included were cycle policies that cover against theft of the bike, itself.
The largest increases in bicycle insurance have been in the regions of Yorkshire and the Tyne area.
Those were the starting points of the Tour de France, last year, and the insurance company reported that both of those places saw the purchase of additional cycle insurance policies increasing by over 100 percent over the last half decade.
The highest number of policies that were sold in the country were in the south and southeast. In those regions, there were 9,000 policies purchased in 2014, alone. The rise in the ownership of this kind of coverage is being credited to two different trends. The first is the increasing popularity of cycling, but the second is in the higher price that is being spent on the bicycles themselves.
The amount that people have been spending on their bikes has increased by 13 percent since 2013. According to Mintel, the price now being spent on the average bike is £233. Equally, there has been a steady growth in the rate of bicycle theft, which has driven more people to want to protect themselves with bicycle insurance so that they won’t be left empty handed when a thief takes their bikes. This year’s Crime in England data has shown that there are now more than 376,000 bikes stolen in the country every year.