Over 10,000 cyclists in London have 3rd-party insurance.
Which is the most suitable policy for you? ETA offer a variety of options for cycling devotees, commuters and travellers alike, policies are both flexible and affordable. The BBC’s article below discusses what to consider when insuring both you and your bicycle.

Environmental Transport Association
The ETA’s policies include new-for-old replacement on claims, worldwide cover should your bike be damaged or stolen in the UK or abroad, up to 40% no claims discount, personal accident cover for up to £20,000, third party insurance worth up to £1,000,000, free cycle rescue and puncture cover worth £51 and a free legal helpline.
http://www.eta.co.uk/

Insurance tips for cyclists inspired by Bradley Wiggins:
Money Talk by Mike Cavenett (London Cycling Campaign)
When talking about insurance and risk in the context of cycling, it is natural to think of bike theft. But by far the greatest financial loss the everyday cyclist can suffer – potentially thousands of times the value of their bicycle – is liability for damage to another’s property or person.
http://www.bbc.co.uk/news/business-18994991