Bike Insurance Problem

Andyb10

Hi all have just bought a new bike and tired to get it included on my home/contents insurnace. However insurance company will not cover the bike as it's worth more than £1500.

Anybody out there had similar problems and/or know of a company that can help.

I tried the cycle insurance sight on Evans but the quote I got was more per month than my car?

Cheers

Slow Downcp

Marks and Spencers

magliaceleste

Slow Downcp wrote:

Marks and Spencers

You may want to double check that. I was/am with M&S too. A couple of days ago we had the renewal through. M&S have changed their underwriters.

Apart from getting a bunch of details wrong we had to specifically raise the issue about bikes being covered. They are now sending us out a new schedule with the bikes listed as a "collection". Under the old "gold" scheme they were indeed covered automatically.

I reckon M&S could loose quite a lot of customers if they don't realise this is one of the reasons they were so popular!

toontra

magliaceleste wrote:

Slow Downcp wrote:

Marks and Spencers

You may want to double check that. I was/am with M&S too. A couple of days ago we had the renewal through. M&S have changed their underwriters.

Apart from getting a bunch of details wrong we had to specifically raise the issue about bikes being covered. They are now sending us out a new schedule with the bikes listed as a "collection". Under the old "gold" scheme they were indeed covered automatically.

I reckon M&S could loose quite a lot of customers if they don't realise this is one of the reasons they were so popular!

Ah, this is indeed potentially bad news. Could you keep us updated with any more news on changes to M&S policy that you discover?

Andyb10

My problem is that my home insurance isn't due yet so I am looking to cover my bike independently now.

Just been onto E&L insurance but their security stipulations were a bit unrealistic for me

Slow Downcp

It would probably be cheaper to change home insurance early (you should get a rebate for some unused proportion unless a claim has been made) than insuring with a bike specific policy.

magliaceleste

toontra wrote:

Ah, this is indeed potentially bad news. Could you keep us updated with any more news on changes to M&S policy that you discover?

Will do. When we forced them to check whether bikes were covered, they went back to the underwriter to check and will apparently add them as a collection. I'll let you know what the updated documentation says.

A lot of the cycle specific policies are just plain unrealistic. They are also far too expensive if you have more than one bike.

spen666

Andyb10 wrote:

My problem is that my home insurance isn't due yet so I am looking to cover my bike independently now.

Just been onto E&L insurance but their security stipulations were a bit unrealistic for me

Your current insurers will probably insure bike for an additional payment.

In much the same way as they would cover expensive jewellry etc

simple_salmon

Norwich Union covers my bikes for no extra money - just named them in the house contents policy.

onehipwonder

Have a look at greenbee insurance as well. Individual items up to a value of 4k

Andyb10

I'll let you know how I get on as I am going to apply online to M&S. Certainly the quote screen allows you to add high value items and has made an additional charge, so here's hoping

pneumatic

Thanks for the heads up about M&S. I just got my letter notifying a change of underwriters but with no detail about policy changes. I only joined them for the bike insurance and will definitely change if my curly-horned friends are not covered automatically.

Bruce Thornton

I've just received my home and contents from More Than insurance . The bikes cost £145 for a V N Yukon and a Spec Globe Pro which I think is a bit steep so I'm going to try others any suggestions?
Bruce

Ruari

Have a look at Cycleguard, they cover at reasonable rates (I got my Bianchi 1885 Ultegra and a Carrera Subway covered for £163- seems pricy but the rates are according to my requirements and peace of mind I'm covered for anything) and great cover if you will be racing (they cover an unsecured bike at transition for up to 24hrs) with all the trimmings.

Def worth a look I think.

marco67

I have just had all the new M+S stuff about change of underwriter to AXA and it wasn't particularly clear whether things had changed regarding bicycles so I phoned them. They told me that I was still covered for personal items up to £4K - anything more than that but below £10K you have to tell them about. As for storage, as long as it is secured within the boundaries of your property (including shed) it is covered - bikes would also be covered if temporarily away from the home.
Of course the million dollar questions is 'what is secure', I was told locked to something!?
Interested to hear what other M+S customers might be told.

toontra

marco67 wrote:

I have just had all the new M+S stuff about change of underwriter to AXA and it wasn't particularly clear whether things had changed regarding bicycles so I phoned them. They told me that I was still covered for personal items up to £4K - anything more than that but below £10K you have to tell them about. As for storage, as long as it is secured within the boundaries of your property (including shed) it is covered - bikes would also be covered if temporarily away from the home.
Of course the million dollar questions is 'what is secure', I was told locked to something!?
Interested to hear what other M+S customers might be told.

Thanks for that. Hopefully we'll hear from magliaceleste and get their opinion on any policy changes as well.

dag_on_a_bike

Esure - £2k as specified item. New for old too.