Security....

heavymtb

Right I know I shouldn't bond too dearly wih my new toy as some theiving little so and so will undoubtably pinch it (or at least try to) in the next few months.

Here's the question, the guy in Evan told me I had to have a lock generally worth 10% of the bike (£500) for an insurance firm to warrant it as 'secure'. I went ahead with it and got a hefty Kryptonite D-lock as suggested (to be honest I just can't bear the though of having my baby piched and kicking myself to the insurance being void!) does anyone know if this is true or was the sales 'assistant' upping his commission?!?! The answer is probably both but I just want to know!

P.S any one know of a really good insurance company? I need one!

AndyManc

As far as I know insurance companies just stipulate bikes are locked , they don't specify any lock.

The best way to insure your bike is through an extension to your home contents insurance policy, in fact , you might be covered already .

downfader

It does depend on the policy. Some will only insure with "sold secure gold" locks, some have stricter controls - ideally you need to check with your insurer to make sure you are covered. Even with the very best lock it seems some toerag will still have it if they really want it.

karl j

Worth checking out the small print on this one. I've been looking at changing my home insurance provider, with cycle insurance being one of the key elements for me.

Barclays Home Insurance policy states "We will not cover" - list of various things inc. "loss of or damage to pedal cycles" . For cycle cover i'd have to buy an extra policy add-on (£53.99 a year) which has the wording "We will not cover loss or damage: a- while the cycle is being used for racing, pacemaking or trials. b- caused by theft, unless the cycle is in a locked building to which only you have access or has been attached to something which will not move and has been made secure by a security device" ... So whilst that doesn't specify type or value of lock it is reasonably specific which i read as saying it must be left in a locked shed / indoors or locked to a sheffield stand, or somesuch, in my back garden.
CTC Cyclecover quoted me online at £232 for 4 bikes with total replacemnt value at 2.8k but i ddn't go through as far as to what their requirements were, though i guess they'd be pretty similar. I shall be ringing them on Monday though to check because that figure seems rather high to me.

I am now waiting for Abbey to send me their quote, and i also have the leaflet from C+ (or the CTC magazine, can't remember) for E&L Insurance so i may ring them sometime.

But i believe a lock = 10% of the bikes purchase price is generally considered the right amount, though of course, as DF says, if some TR decides they're having it then you're unlikely to stop them.

downfader

Also its worth pointing out that home insurance doesnt alays cover the theft of the bike if its not your insurance policy. For example I still live with mother and father - so hence they have their policy with HSBC but it doesnt cover my bike gear as far as I could tell.

I was going to go for the CTC policy myself Karl but havent gotten around to it. Its a bit expensive for me to insure at the moment so I rarely park the bike anywhere other than work or home for now.

neillcp

The easiest way to get your bike covered on your current home insurance is to threaten to leave. I'm with Direct Line - I phoned up and told them I was leaving to go to Nationwide (I think they cover bikes as standard), et voila, Direct Line covered my £1k bike for free!

girv73

Halifax cover bikes "away from home" as standard possessions, up to an individual value of £1500 though you can add individual items over that value if required. I don't have the policy handy so I can't quote the policy document, but the above is how I understand it.

philbill1973

I'm with these

http://www.eta.co.uk/insurance/cycle

£50 (ish) for £600 bike, comes with free cycle rescue as well !

Must have a sold secure lock they provide a list in the policy documents, 10 % is what I've just shelled out so you won't be alone.

mikespike80

Marks and Spencers will insure any item upto £4000 as part of their home insurance. You can pay extra for off site insurance also.

karl j

took me just about all day to get an answer from Cyclecover but they stand by their initial quote of just over £232 (for 4 bikes with total replacement value = £2.8k) and Barclays stand by their add-on quote of £53.99 (which covers up to 9 bikes, replacement value £1k each). Which quite frankly i find staggering for 2 policies with very similar conditions. Haven't had the letter from the Abbey yet though so the search continues.

BoBaBry

Just to stick my two pennies worth in.

I have been on to my home insurance today (Zurich) to get a quote for cover for a £1700 bike, premiums will go up £7 a month, and they state I must have the bike secured, in the house, to a ground anchor with a security rating of 8 and above.

Is it just me who thinks this is a bit over the top, I asked if my £2000 laptop is covered, they said yes, I said it is easier to steal my laptop than a bike so why do you insist on me having to secure the bike in the house!

I just don't see why they need the extra security for a bike if it is kept inside the house!

Bah!

BTW, I was always planning to secure it anyhow, just riles me that I have to do it or the policy won't pay in the event of theft!