Why insurance matters at the Cape Town Cycle Tour‍

Marius Kemp, Head of Personal Lines Underwriting at Santam

Last year, nearly 28 000 cyclists from around the world lined up for the 47^th Cape Town Cycle Tour. This year’s event, taking place on 8 March, is set to be even bigger and better. Following its acceptance into the UCI Gran Fondo World Series, the tour has entered a new global chapter as the first road cycling event in Africa to secure this status. With the top 25% of finishers earning qualification for other Gran Fondo events worldwide, the 2026 race is expected to attract more top-tier talent than ever before.  

As the competitive stakes rise, so too does the investment many cyclists are making in their performance equipment. While a decent entry-level road bike can cost around R30 000, a professional-grade model like the Pinarello Dogma F12 can exceed R500 000. The bicycle, however, is only part of the equation. A top-of-the-range GPS smart watch with advanced training metrics can cost R20 000 or more. Add on a premium helmet, carbon wheelsets, cycling shoes, technical race apparel and eyewear, and, for some entrants, the combined value of race-day gear now rivals or even exceeds that of a small car.

According to Marius Kemp, Head of Personal Lines Underwriting at Santam, this escalation in equipment value has important insurance implications. “There is no standard price tag when it comes to cycling gear,” he says. “Two riders standing side by side at the start line may have invested vastly different amounts in their equipment, so a one-size-fits-all approach simply does not work when it comes to insuring sports leisure valuables.”

Kemp goes on to explain that many cyclists underestimate the cumulative value of their belongings. “While riders may focus on insuring the bicycle itself, they often overlook high-end accessories and wearable technology.” In addition, standard home contents policies typically provide cover for items within the home but may offer limited protection once those items leave the premises.

“Cycling gear is, by nature, portable,” he says. “You train on public roads, you travel to events, and accidents happen – even to the best and most responsible athletes. Each of these scenarios introduces risk. Portable or all-risk cover is designed to protect specified items when they are away from home.”

Transit is another critical risk area, particularly for riders travelling from far and wide to Cape Town for the tour. Bicycles may be transported by car, airline or courier service, increasing the potential for accidental damage or theft before race day even begins. Without appropriate cover, repair or replacement costs can be significant.

Kemp advises cyclists preparing for the tour to review their policies carefully. High-value items should be specified individually and insured for their correct replacement value. Riders should also confirm that their cover extends to loss or damage away from home and in transit, and that claims are settled on a replacement cost basis.

“Some policies offer replacement cost coverage, meaning the insurer will compensate you for the full replacement cost of a similar item that has been stolen or damaged, without factoring in depreciation,” Kemp explains.  

With more high-value gear on the road than ever before, the financial exposure for cyclists has increased significantly. Ensuring that this investment is properly protected allows riders to focus on performance, rather than the potential cost of the unexpected.

“Given the significant financial investment that is required, insurance should form part of every cyclist’s race preparation checklist,” Kemp concludes. “Just as you service your bike and test your equipment before a major event, you should ensure your cover is up to date and aligned to the current value of your gear.”