LONDON, April 14 /PRNewswire/ -- Over 98 per cent of cyclists may be putting themselves at financial risk because they do not have specialist insurance that offers third party cover, according to the Environmental Transport Association.
The recent 83 per cent increase in London cycling reflects a two-wheeled renaissance in urban areas, but most cyclists seem unaware that if they are involved in an accident that causes damage to a person or property, they can find themselves facing a claim for compensation.
The Environmental Transport Association is a not-for-profit organisation that has launched an insurance policy for cyclists, which includes third party indemnity, cover for theft, accidental damage and vandalism, legal aid, personal accident cover and a breakdown recovery service for cyclists.
Director at the Environmental Transport Association, Andrew Davis said: "The fact that over 5 million people take to their bikes each week illustrates just how safe an activity cycling is, but if the worst happens the last thing you want is a huge claim for compensation landing on your doormat. It's risky for people to assume that household insurance policies will cover road traffic collisions, as many do not."
More information about cycling insurance at http://www.eta.co.uk
Notes to editors
- Specialist third party insurance for cyclists is a benefit of membership offered by CTC, LCC, BTA and BC. These are the only major specialist policy providers in the UK and it is estimated that approximately 100,000 cyclists are covered. According to the 2002 Household Survey, 5million adults cycle each week.
- Cycling in London has risen 83% since 2000 - almost half-a-million journeys are made by bike in London every day. (source: TfL)
- Cyclists who request a quote for cycle insurance from http://www.eta.co.uk have the chance to win a one-off 24ct gold-plated bicycle
- The Environmental Transport Association is a not-for-profit ethical breakdown organisation, providing carbon-neutral breakdown cover and insurance products. As well as encouraging responsible driving to reduce carbon, the ETA campaigns for sustainable transport http://www.eta.co.uk
For further information, please call the ETA press office on +44(0)845-389-1064