Switching bicycle insurance to Laka has never been so easy: Just follow these 2 steps to join the collective:

  1. Get a quote.
  2. Let your insurer know you want to cancel.

How to get a Laka Bicycle Insurance quote

Everyone is welcome to join the Laka collective and getting a quote is super easy. All we need is the value of your bike to give you an instant estimate of your monthly share  and your personal cap, the max payment you will ever pay in a month (though we’ve still never charged our customers the max amount!). Remember Laka works completely different to other bicycle insurers, with the cost of the month's claims being split fairly amongst our collective of cyclists.

You can also add your referral code at this point if your mate has referred you to the Laka collective.

Once you've got your quote, you can give notice to your current insurer.

But first, what rights do you have?

By law, you can cancel most insurance policies within a 14-days of the policy starting, the “cooling-off period”, without giving a reason. If you cancel in the cooling-off period, you should get your premium back but some insurers can charge admin and cancellation fees.

If you cancel your policy outside the cooling-off period you can be liable for the full premium.

If you’ve made a claim on your policy these terms may vary, and in some cases the insurer might not give any refund at all.

Keep in mind these terms have been checked with the respective insurers' publicly available documentation and are accurate to the best of our knowledge at the time of writing.

How to give notice to your current bicycle insurer

You need to let your current insurer know you want to switch your bicycle insurance.

To give notice, send an email to your current insurer including your account number. Some insurers require at least 30 days before the end of your contract, so you’ll have to prepare in advance!

Here’s an example email you can use:

Please accept this email as notice that I’d like to terminate my contract with you on [contract end date].

My details are as follows:

Account number: _______

Please let me know when I should schedule my switch to another insurer.

Find your current insurer’s contact details

We’ve listed the easiest ways to get in touch with your current bicycle insurance provider. Some companies have dedicated email addresses, and others ask you to call or complete a form online.

Insurer

How to cancel

Bikmo

For annual policies Bikmo requires 30 days written notification for wanting to cancel, and your policy will be cancelled at the end of the 30 day period; you will receive an email to confirm on cancellation day.

To cancel head to your account and follow the steps on the ‘Cancel your policy’ link.

For monthly policies, head to your account and follow the steps on the ‘Cancel your policy’ link.

Cycleplan

You must send a signed letter of cancellation via post or fax or send an email. If you have spoken to Cycleplan to arrange your policy, they may deduct an administration fee of up to £10 but this charge will not be made if you have arranged your policy online without speaking to them.

You must send a signed letter of cancellation via post or fax, or send an email.

Email: admin@cycleplan.co.uk

CycleGuard

If you wish to cancel your policy after 14 days, you will be entitled to a pro-rata refund of premium, less a cancellation fee of £10, as long as no claim has been made or is pending. Where a claim has been made, a refund will not be given.

Important if you are paying monthly: If you pay your premium by monthly instalments and a claim is made or is pending, you must continue to pay the instalments until the premium is paid in full.

Email: support@guardcover.co.uk

Pedalsure

Contact your agent if you wish to cancel your policy.

If you pay for your policy annually by one up-front payment, then providing that no claim has been made, you will be entitled to a portion of your premium back for the unexpired period of insurance, less an administration fee of up to £20 to reflect the costs of arranging and cancelling the policy.

Email: cservice@pedalsure.com

Velosure

To cancel the insurance contact Lawshield UK Ltd.

On condition that no claims have been made or are pending, Velosure will refund that part of your premium which applies to the remaining period of insurance, less a £15 administration fee applied by Lawshield UK Ltd.

Email: enquiries@velosure.co.uk

Yellow Jersey

You should make any request for the cancellation of a policy in writing and any relevant certificate of insurance must be returned to Yellow Jersey or to the insurer concerned.

Whilst you may cancel this insurance after the 14-day cooling off period no refund of premium will be payable.

Email Yellow Jersey at: https://www.yellowjersey.co.uk/contact/

All is true at the time of writing (18/09/20).