Insurance

DonDaddyD

Today I nearly crashed.

On my way to work (traffic was horrendous and I was taking all kinds risks and making all sorts of manoeuvres) I was going down hill at some speed when the car in front started breaking, hard. The reason being was that someone in front of her was trying to reverse/parallel park. Now I don't know if the signal was late or if the driver wasn't paying attention but it was all kinda rushed.

Anyway, the car in front of me started breaking and so did I but I didn't have enough time to slow the bike down properly. I pressed on the brakes a little harder and started skidding loosing the back wheel. Realising that I couldn't stop and couldn't control the bike (direction) in a skid I released the brake and went flying through the gap between the parking car and braking car.

I was impressed by the quickness of my decision making, reactions and the level of skill through the whole ordeal.

Still this got me thinking, had I crashed I would have gone over or through someone's car and at that speed it wouldn't have been "get up very quickly and ride off before the driver can catch me, kick my ass and then try to get me to pay for the damage". Gone are the days of my irresponsible youth when cycling was actually free (excluding the cost of a bike and perhaps a helmet - lets not start that one again).

I concluded that maybe I should take out insurance. Not only third party but also for theft as well.

So do you have insurance?

Could you recommend a good insurance company that will cover 3rd party damage and theft?

Littigator

Insurance for your bike is generally pretty expensive, averaging about 10% of the bikes value to cover damage (including racing damage) and theft.

As for insurance for third party liability, BCF silver membership (about £35) and above inculdes this cover.

Check it out at http://www.britishcycling.org.uk/web/si ... e_home.asp

whyamihere

Membership of the CTC includes third party insurance. You can probably extend your house insurance to cover theft.

snooks

whyamihere wrote:

Membership of the CTC includes third party insurance. You can probably extend your house insurance to cover theft.

+1

I went for CTC as I was cycling past an £80,000 Audi R8 and wondered what would happen if I'd scratched it by accident on my way past....I realised I'd have to pay out and joined the CTC as quick as I could

Home contents insurance covers my bikes

philbill1973

I'm with ETA, £55 bike insurance for £600 bike and third party liability, free recovery as well !

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

lost_in_thought

Has anyone found bike insurance like car insurance where you agree a value with the insurer and they reimburse you to that level should you suffer a loss?

Oh and I've just signed up for the BCC...

biondino

And since we're asking questions, I really should look at my policy docs for home insurance to see what, if anything, is covered in the way of bikes, right? I somehow doubt the Focus is entirely protected....

Coriander

Most contents insurance covers items that are taken outside the home- e.g. jewellry, bikes, cameras, etc. My contents insurance covers individual items upto the value of £500 outside the home. So my bike's not fully covered. Which would be a pain.

lost_in_thought

I know from my brother's bike (he likes nice expensive ones) that you can, for an additional premium, insure valuable items on your Home and Contents cover including bikes for a stated value.

The problem is the following, as I have recently experienced with Gollum, and which led to my post above...

When your bike is covered by your H&C insurance, you get 'like for like', or if you've got good cover, 'new for old'. Basically this means that your insurance company buy you a new bike, the same one if it's still available, a similar one if it's not. Trouble is, your insurance company decide what a 'similar' one is. They are not keen (although it is not impossible) to simply release funds equal to the value of the bike to you.

What's more, this process of them buying you a bike takes time. Sometimes a lot of it.

There is also some merit in checking your excess. If it's £200 and your bike is worth £300, that's also less than ideal.

Hence my question above...

karl j

biondino wrote:

And since we're asking questions, I really should look at my policy docs for home insurance to see what, if anything, is covered in the way of bikes, right? I somehow doubt the Focus is entirely protected....

Yes absolutely, including the small print. No, wait, especially the small print ! There is another thread somewhere not so long back that discussed this, and when i read my policy wording it was quite specific in what i had to do in the way of locks, keys, immovable objects etc. Came as a bit of a shock at first but on reflection i suppose it's reasonable you do all you can to protect it from the Bad People.

karl j

incidentally, to answer the OP, yes i do have it, it's with Barclays as an add-on to my B&C insurance.

Leedsblue

Starting commuting recently I realise that I need 3rd party and legal insurance. With the thought that I might do a TT next spring the BCF Silver option looks ideal.

I will check out the CTC though.

The bike is worth £500 (new) and is locked in an alarmed garage and in a secure car park at work. Home contents will cover me but I don't want to claim on that really so would prefer a separate insurance.

m0scs

Hi All

I work in the industry. Yawnnnnnn!

The best way to protect you pride and joy against theft etc is to specify it on your home insurance or other policy. Typically home insurance offers cover say upto £500.

I insured my bike for its full cost as new £1600 and also specified my front light (£400 Lupine Wilma) so there is no doubt waht they are covering.

Read the small print, most insurers wont pay out unless it is chained to a fixed object or in a locked garage.

Also take a look at your home policy, some have public liability clauses that may cover you for damage you cause to other property but may exclude road risks. To be on the save side I would recommed a stand alone Third party perils policy for your bike or when you ram the back of that expensive vehicle lie about your identity and p@ss off quick!