bike insurance
portuguese mike
Posts: 695
Are there any companies that will insure a bike worth about £4k - my home insurers only do a bike policy up to a value of £1.5k?
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Comments
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M&S contents insurance includes any number of bikes up to £4000 value each!0
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It never seems worth it. You'll need receipts for everything and the depreciation rates applied are high. By all means tag it onto contents insurance, as alfablue suggests, but specialist insurance is very pricey.0
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Agreed, specialist policies tend to cost about 10% of bike value per year! You would probably end up paying more than your car insurance (if you have one). I think the home contents policy is the way to go, they have fewer requirements and small print get outs as well.0
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So the best thing to do is put it on the home contents insuance even though it won't cover the full replacement value as in the long run it will be better than shelling out hundreds a year for a specialist one?pm0
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Well, the best thing is to change to a home insurance policy that will give full replacement value (as I believe M&S does) as even if the policy cost a bit more (though they are competitive), you will probably be saving hundreds of pounds compared to a specialist policy.portuguese mike wrote:So the best thing to do is put it on the home contents insuance even though it won't cover the full replacement value as in the long run it will be better than shelling out hundreds a year for a specialist one?
Whilst I should use my own recommendation, I am insured with CIS (I just have a small flat so it costs me about £9 a month). They let me add a bike valued at £1500 for about £1.40 per month, and it's insured at home and aywhere else in the world against theft but not accident damage, so this is a real bargain for what amounts to about £17 per year.0 -
thanks, Alfablue, i'll look into changing my policy over to M&Spm0
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I'm going to have to interrogate a few insurance companies - moving to Bristol (currently in with the old man) and have four bikes, albeit nothing high value, and over £7k replacement value of musical gear!0
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Graham, the same one may be good for you (M&S) as they cover multiple bikes, I think (though not sure) they cover any items unspecified up to £4K.Graham G wrote:I'm going to have to interrogate a few insurance companies - moving to Bristol (currently in with the old man) and have four bikes, albeit nothing high value, and over £7k replacement value of musical gear!0 -
But be aware that home contents will exclude racing - if you race and stack your bike you could wish you had paid out. BC policies can cover racing.0
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I have CIS as well plus a specific add on policy for my 'higher value' bike. It was the reason I went to them - good content's insurance rates as well ! Been with them for maybe 10 years !0
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I went with M&S after recommendations on the forum. Currently going through a claim with them after I drilled through a central heating pipe :oops: Everything has been straight forward so far.0
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Some years ago I had my bikes covered by CIS, which included cover for racing.
Has anyone tried Evans insurance policy I got a quota yesterday which seems very reasonable?0 -
I got the roadcare insurance coverage on the Evans Cycles insurance site - basically 3rd party liability cover if I crash into a new BMW on my commute into work! Only cost about £17 for the year0
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When people are talking of having insurance cover with your household policy, are you including accident damage i.e., if I fall off my brand new Bianchi (maybe someday) and damage it beyond repair, will I get a new one from the insurance company?
Or are you all talking about theft alone?
I live in Cumbria so theft is less likely that accident damage.
(Just thought I'd put than in to stir things up a bit)_______________________________________
I know I'm alright, the voices tell me so.
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I have my bike on my home insurance (more than), however this only covers theft. I also have third party insurance cover though being a member of the LCC.
I think most of the "expensive" bike specific insurance policies are comprehensive. If you have an accident, they will fix or get you a new bike and fund a personal injury case against any guilty parties.
I've been knocked off by cars a couple of times, and in both cases got an ambulance chaser on the case. I do think it would have been simpler if I'd had comprehensive insurance though. Ambulance chasers are not fast!0 -
Hmm...
My dad was renewing the home insurance recently and decided to list my bikes as specific items this time around.
By listing them as specific items rather than just as contents insurance is there likely to be a grey area as to whehter they're covered for accidental damage etc. rather than just theft?
I've been lucky over the last three years but I reckon I'm more likely to have a wipeout than have my roadie stolen.0 -
I guess you'll have to enquire with the insurers about this - every policy is different.
I would be surprised if you would "total" your bike if you wipe out though. If there's a vehicle involved I guess the claim would be from them anyway.0 -
Yes, but it's always easier to claim off your own insurance company and have them claim it back off the driver, than to go through his hostile insurers yourself.
If you have a motor policy, or a house policy with a legal protection option, you may be able to use that to get their lawyers to go after the driver.
Either way, it will be much slower than just claiming off your own insurance.0
