I have a RIDE membership, but there are a number of other categories that might work better depending on the type you cycling you do.
With RIDE, I do get liability insurance up to 20 million, with no excess to pay. This includes legal costs preparing any defence required as well as any award made against you. There is also free legal support if you are the wronged party, and if all that isn't enough, they have preferential rates for any additional insurance you may require. Discounts include, 15% off Kalas, and 10% off Freewheel and
Halfords, which has changed a bit as instead of just flashing your card to get the discount, you need to log on and download this month's QR code. Its not the end of the world and my local branch gives me the discount off everything, not just cycling related products.
I really just maintain my membership as I want to support British Cycling and quite often visit events at the velodrome, so I would be a member even without the add ons, but the discounts are nice and easily pay for my membership every year.