Bike insurance

mike ives

Does anyone have any recommendations - positive or negative, about companies that offer cycle insurance. I am at the stage now where I should take out some insurance and really would appreciate some good advice based on experience(s).

hugo15

Marks and Spencer home insurance is worth a look. They cover bikes to to £4k. I have had one claim after drilling through a central heating pipe - they dealt with it very efficiently.

Monty Dog

Separate bike insurance is pretty expensive - premium is about 10% of the value of the bike, whereas I pay about £150/year on my house insurance for cover for 6 bikes, with a maximum replacement value of £3k for one.

Mog Uk

It's worth noting that home insurance is usually cheaper but doesn't cover the bikes if they are away from home, that's certainly the case with my Marks & Spencers cover..

Doobz

I am with CIS and it covers bikes up to £1000 and is like £12 extra on my home insurance a year... It also covers for damage and theft away from home

alfablue

Doobz wrote:

I am with CIS and it covers bikes up to £1000 and is like £12 extra on my home insurance a year... It also covers for damage and theft away from home

Ditto, it covers them worldwide. Dedicated bike insurance for my steeds would cost me £250 per year.

kevinp

alfablue wrote:

Doobz wrote:

I am with CIS and it covers bikes up to £1000 and is like £12 extra on my home insurance a year... It also covers for damage and theft away from home

Ditto, it covers them worldwide. Dedicated bike insurance for my steeds would cost me £250 per year.

also with CIS covers 5 road bikes also if you are a coop member it counts towords your divi !

alfablue

kevinp wrote:

alfablue wrote:

Doobz wrote:

I am with CIS and it covers bikes up to £1000 and is like £12 extra on my home insurance a year... It also covers for damage and theft away from home

Ditto, it covers them worldwide. Dedicated bike insurance for my steeds would cost me £250 per year.

also with CIS covers 5 road bikes also if you are a coop member it counts towords your divi !

good point, the divi I get for the policy (about £15 p.a.) actually exceeds the premium I pay extra for the bikes!

cannonfodder

Mog Uk wrote:

It's worth noting that home insurance is usually cheaper but doesn't cover the bikes if they are away from home, that's certainly the case with my Marks & Spencers cover..

That's worrying....although this link states that they are covered away from home

http://www6.marksandspencer.com/pages/d ... Product=HI

alfablue

I think they clearly do cover away from home.

mike ives

Thanks everyone. Some good information and leads here. I will follow them up the beginning of this week. More importantly, I now know not to go down the dedicated cycle insurance route.
Cheers

webbhost

Does M & S home contents insurance state that bikes have to be indoors like most bike specific insurances, and do they specify that you have to use a specific lock or range of locks?

I keep my bike locked up in the back yard so its outside, however its also chained around a sewage pipe, so I dont think anyone would be quick to try and rip the pipe out lol.

master_grunthos

I was actually checking the terms of my Marks and Spencer cover earlier today before I read this thread. Under FAQ they state "Are my belongings covered if I take them out of the house? - Yes, if you take out our "contents Away From Home" cover, which is an optional extra.....The cover is unlimited and worldwide and includes all your contents when they are temporarily away from your home...."

Check the details for students stuff away for a term at a time, this is extra too but bicycles are covered up to £4k like any other unlisted item or collection if you pay for the away from home insurance. This is clearly stated elsewhere, which is why I went for the cover.

They cost more than other insurers but if you itemise stuff like cycles, glasses, camera, mobile, etc, etc all the extras and limits on most policies the M&S cover is much better. They don't even ask what locks you have on your house let alone you bike!

You should note you aren't covered for:
-Confiscation of property by the authorities
-Living creatures are not covered
-Radioactivity
-Sonic Bangs
-War risks

Has anyone out there actually claimed for a stolen bike through M&S? that's the only true test of whether they fuss over fine details or not. I.e. insisting on a receipt for ever component if you bought the bike in bits.