A price comparison website has warned cyclists to make sure their bicycles are properly insured this summer, saying that as well as doing their bit for the environment, those on cycles will also be saving money on petrol and car and bike insurance.

Although petrol prices are reaching 119 pence per litre, it is thought that 11 million journeys are made each day by cars and motorbikes in London, compared to just over 480,000 made by bicycle. Moneysupermarket.com found that for as little as £10, budding cyclists could add their bike to their home contents insurance policy.
Head of insurance research at moneysupermarket.com, Peter Gerrard, said: "With petrol prices hitting astronomical heights there seems no better time than now to get peddling. However, it's important to consider how well insured your bike is, just as you would your car."

He added: "If your bicycle is an especially valuable model I'd advise weighing up the advantages of separate bike insurance. While stand-alone cover could cost well over the price of adding it on to your existing home policy, it has added benefits such as emergency recovery, replacement hire, and even worldwide use for the cycling enthusiasts who take their bikes abroad."