Ascent - Cycle Insurance FAQs

By Worry+Peace

About UK General Insurance Limited.

Your Ascent cycle insurance is arranged by Innovative Risk Limited t/as Worry+Peace and underwritten by UK General Insurance Limited on behalf of Great Lakes Reinsurance (UK) SE, registered in England No. SE000083.Registered Office: Plantation Place, 30 Fenchurch Street, London, EC3M 3AJ

Innovative Risk Limited and UK General Insurance Limited are authorised and regulated by the Financial Conduct Authority. Great Lakes Reinsurance (UK) SE is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. These details can be checked on the Financial Services Register by visiting the FCA’s website at or by calling 0800 111 6768.

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Who are Worry+Peace

We are a the 21st-century insurance broker, we arrange certain other self-service products. We're here to help, a trading name of Innovative Risk Ltd. who are authorised and regulated by the Financial Conduct Authority.

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Is there a policy excess?

The excess is the amount that you will be responsible for in the event of a claim. In this insurance, the excess is split three ways depending upon the section in which your claim falls.

For claims under sections 1 - 5 inclusive (Theft, Accidental Damage, Malicious Damage, Replacement Cycle hire and European Extension.), the excess is £25 or the amount shown on your policy schedule equal to 5% of the insured value, whichever is the higher amount.

For claims under section 7 (public Liability) the excess is of £250 for each and every claim arising from damage to third party property, and £500 for each and every claim arising from third party injury..

What ‘value’ do I insure my item for?

The value to be insured should represent the replacement value of each item.

What is a Sportive?

A sportive is a mass participation event such as the Prudential Ride London event, which are more of a leisurely competition rather than a racing event. Racing is not covered within the policy.

Can I insure electric bikes?

Yes absolutely. Electric bikes are absolutely fine alongside folding, road and MTB bikes as long as you meet the ownership and security criteria.

I don't keep my bike in my home, is this a problem?

No, you can still insure your bike with us! As long as the bike is secured, using a lock specified in the wording and to an immovable object this is fine.

What does the Public Liability extension actually cover me for?

This extension is designed to cover financial implications, up to your agreed limit, if you were to cause injury to a member of the public or you were to cause damage to public property whilst riding. It covers the subsequent cost of legal proceedings or compensation claims that are made against you.

Do I need a particular lock?

Depending on the value of your bike you are required to buy a Safe Secure approved lock to either Bronze, Silver or Gold standard.

i. for cycles up to £250 in replacement value, an approved lock is one which is tested to a bronze standard by Sold Secure;

ii. for cycles greater than £250 but less than £1,500 in replacement value, an approved lock is one which is tested to a silver standard by Sold Secure;

iii. for cycles greater than £1,500 in replacement value, an approved lock is one which is tested to a gold standard by Sold Secure.

What is the maximum I can insure a bike item for online?

The coverage limit for any one bike is £5,000. You can insure more than one bike with each policy taken out.

Am I required to pay a deposit for monthly payments?

No, the monthly price which you are given in our quote engine does not require a deposit and is inclusive of all taxes and fees.


The easiest document to keep is the store receipt. Make sure you keep the original receipt safe at home and you can always upload a copy of it to your Pouch account!

However, we do understand that often bikes are modified and personalised. in this case, keep the receipts for the individual transactions and insure up to the accumulative total.

In some circumstances, invoices and bank statements can be sufficient evidence to provide proof of ownership. if you are unsure whether you have sufficient proof, please do get in contact.

Should I keep hold of the receipt?

Yes, always keep the receipt as you will need this in the case of a claim. It is also always a good idea to keep photos of the item as this can help should the worse happen.

Am I insured on holiday or overseas?

Yes, Included in this product is an EU travel extension - that means up to 30 days per trip is covered for up to 90 days in total per year!

How do I cancel my policy?

You may cancel your policy at any time. You have a 14 day “cooling off period” which runs from either the date you receive your policy document or the start date of the policy (whichever is later). During the cooling off period, you will receive a full refund of any premium paid, less a cancellation fee of £5, as long as no claim has been made. After that time, a refund of the proportionate amount of the premium will be due, less a cancellation fee of £5. However, if you have made a claim under the policy, there would be no refund of premium due. You can call us on 0330 880 8326 or email for more details on your cancellation rights.