Insuring a Self build bike?

redddraggon

I've bought all the components from different places, but kept the receipts. But because I've built it myself it doesn't have a model name (e.g. Trek 5.2 etc).

How do I insure it?

I've looked at the CTC insurance and it wants this model name. I'm all confused....can I put the name of the frame down as the model? Or does it not allow you to insure bikes like this?

Any ideas? Can I just Specify a cost of a bike when I insure it and keep the reciepts incase I need to claim anything?

(Cost of build ~£1500)

gkerr4

i'm wondering this also - i never bothered insuring my other bikes on the grounds that I could afford to underwrite the risk myself - but my new Sworks roubaix / centaur / Eurus special is just a bit more valuable.....

Smokin Joe

Have you ever had a bike nicked in the past?

Insurance should only ever be taken out to guard against catastrophy, such as house, car and any items that would cause financial meltdown. Most of us are way over-insured, spending more over the years than it would cost to replace whatever we might lose on a one-off unlucky occassion.

So before bothering, I would ask myself what the risk of loss is in your particular circumstances, how much are the premiums and how many years we could go without making a claim before the cost of insuring would be more than the bike is actually worth.

When you take out insurance you are effectively placing a bet, so you need to assess the odds first.

gkerr4

completely agree - which is why on my £600ish trek I didn't bother

but on a £2000+ project bike (which is what it is working out to be) - hmm - i think I might need to reconsider. That said, it is either locked in the garage or between my legs - it's not like I commute on it or owt....

Mark Alexander

I've just added a 'built-up bike to my house insurance. All they ask is the make, model, frame number and the replacement cost of that product. I didn't have any problems and they oly charges £8. That was L & G

aracer

With M&S contents insurance, you don't have to itemise bikes under £4000, hence pay no extra premium for them. I understand that if I have one stolen I simply need to provide evidence of ownership (piccy of it in my garage), and get a quote for replacement value from a bike shop on the basis of the spec.