Best insurance policy - bike under £300

normandieuk Posts: 2
edited October 2008 in Commuting chat
Dear all... want to get a decent insurance policy for my bike (it's a Genesis which cost £300 but it's 3 years old now).

What is the best value for money policy around in people's opinion?

Many thanks!


  • gb155
    gb155 Posts: 2,048
    I got mine added to my home insurance for £3 a month, Covers it being stolen from home or work and I have legal cover too.
    On a Mission to lose 20 stone..Get My Life Back

    December 2007 - 39 Stone 05 Lbs

    July 2011 - 13 Stone 12 Lbs - Cycled 17851 Miles
    Now the hard work starts.
  • pintoo
    pintoo Posts: 145
    Agree, but if you also want public liability cover and breakdown assistance, I found ETA very good.

    Plus, if you have to make a claim for your bike on your home contents, your no claims for the home is blown and that can cost you for upto 5 years in terms of higher renewal prices.

    One other thing - check with the insurer whether they will let you insure the bike for £300. As most offer a new for old replacement, your claim might be thrown out for being under-insured. You rarely ever get cash anymore. So, if the bike's RRP is more like £500, you might need to insure it for that.
  • don_don
    don_don Posts: 1,007
    I could suggest not bothering but make sure you have a damned good lock and be careful how and where you park (as one should anyway). Some of the decent locks include an insurance policy of sorts, but I've no experience of claiming on one of these.

    However, I generally don't need to leave my bike unattended for long periods of time and we have secure parking at work.

    Otherwise, I'll second the home insurance suggestion. I think that specific bike insurance is generally poor value but I stand to be corrected.
  • pintoo
    pintoo Posts: 145
    I'll be blunt on this - home insurance is penny wise, pound foolish.
  • krypton locks come with what don_don calls an "insurance policy of sorts".

    It looks pretty good at first: up to £800, just register your bike.

    But you have to provide the broken lock with any claim, which strikes me as an unlikely condition to be able to fulfil.

    What's the beef with home insurance pintoo? Do you insure all your belongings separately just in case you blow the no claims on a policy? Or is it just bikes?