London (17th November 2014) – Specialist global insurer Hiscox has partnered with independent broker Butterworth Spengler and Bikmo, the team behind a leading search and price comparison site for bikes and cycle equipment (www.bikmo.com), on a new cycle insurance product.
The Bikmo Plus product is designed to simplify the insurance process for cycling enthusiasts looking for cover bike(s) worth up to £20,000. It consists of a simple three-step buying process and has the option of paying either upfront for annual cover or via a 0% interest-free monthly payment plan.
At the time of purchase, each customer is provided with a ‘Cloud’ account that allows them to access policy documents online as well as upload bike images, receipts and notes – useful in the event of a claim. Other key benefits include:
- No excess on bike claims above £1,000 processed through Bikmo, who are well positioned to source replacement bikes quickly;
- Cover for accessories, clothing and bike boxes included up to the value of £250 or 10% of total sum insured;
- 365 day worldwide cover on insured bikes;
- Bikmo DNA + forensic coding system worth £30 to help safeguard against theft; and
- Up to 50% multi-bike discount.
Lee Turner, National Schemes Manager at Hiscox UK, explained: “Bikmo Plus is a highly competitive option in the current market. It is simple to use and takes out much of the hassle of buying cycle insurance – leaving customers free to enjoy their passion. It’s a proposition we are very proud of.”
Phil Coffey, Director at Butterworth Spengler, commented: “We’ve been dealing with cycle insurance for over 25 years, and now through our work with Bikmo we have an even better understanding of the modern cyclist. What we have created alongside Bikmo and Hiscox is innovative, high quality and sure to appeal precisely to our target market.”
David George, Bikmo CEO & Founder, added: “Our vision has been to make cycle insurance simple and good value. That’s why we’ve taken out the jargon and the confusing optional extras, instead including just what we know a cyclist needs to protect them, their bikes and their equipment. I’m really pleased with the product we’ve created with our partners – the feedback so far has been superb.”
For more information, visit https://bikmoplus.com.
For further information please contact:
+44 (0) 20 7448 6619
Notes to editors
Hiscox, headquartered in Bermuda, is an international specialist insurance group listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group – Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites mainly internationally traded business in the London Market – generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd’s. Hiscox UK and Europe offers a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and the USA.
For further information, visit www.hiscoxgroup.com.
About Butterworth Spengler
Butterworth Spengler is one of the longest established brokers in the UK, including over 25 years in the cycling sector. They support all areas of cycling from organisations through to retailers and individuals.
About Bikmo and Bikmo Plus
Bikmo Plus is the latest innovation from the Bikmo team, who also developed Bikmo.com, the leading search and price comparison tool for bikes and cycle equipment. Bikmo was created in 2011 by David George, with the aim of aggregating all the information cyclists have to scour the web to find.