Insurance!

gbs

I took delivery of a super new bike today - Pearson Pave if you are wondering. javascript:emoticon(':D') I am stunned by the cost of insurance - £390 pa quoted against insured value of £2500. Does any one know of a Value for Money insurer? javascript:emoticon(':?:')

STEFANOS4784

It must be really easy for fraudsters to fake bike insurace, that's probably why premiums are so high, however do you get no claims?!?!?!?!

1878

Can you add it on to house contents? Cost me £30-odd a year to do that with my bike (ok, value 'only' £1250) and the policy doesn't come with all the clauses about having to chain it to a dobermann when unattended that you get on standalone policies (not only are they forking expensive, the list of exclusions and requirements make you wonder if you'll ever be able to claim anyway).

Steve

bazbadger

1878 wrote:

Can you add it on to house contents? Cost me £30-odd a year to do that with my bike (ok, value 'only' £1250) and the policy doesn't come with all the clauses about having to chain it to a dobermann when unattended that you get on standalone policies (not only are they forking expensive, the list of exclusions and requirements make you wonder if you'll ever be able to claim anyway).

Steve

The problem with that is house insurance wont cover you when your'e out on your bike and fall off and damage it. On an expensive carbon bike I'd get proper bike insurance so if the worst happens and you crash, you can claim the cost of a new frame or bike - house insurance will not cover you for this.

ETA do good insurance for bikes - also includes public liability - which might come in handy if your take out someone else if you crash.

I'm always surprised at how many people put their bikes on their house insurance when they leave themselves open to big expense if the worst should happen...

1878

Fair point - though at a saving of £350/year I'd choose to "self-insure" but everyone's attitude to risk differs.

Brian B

bazbadger wrote:

1878 wrote:

Can you add it on to house contents? Cost me £30-odd a year to do that with my bike (ok, value 'only' £1250) and the policy doesn't come with all the clauses about having to chain it to a dobermann when unattended that you get on standalone policies (not only are they forking expensive, the list of exclusions and requirements make you wonder if you'll ever be able to claim anyway).

Steve

The problem with that is house insurance wont cover you when your'e out on your bike and fall off and damage it. On an expensive carbon bike I'd get proper bike insurance so if the worst happens and you crash, you can claim the cost of a new frame or bike - house insurance will not cover you for this.

ETA do good insurance for bikes - also includes public liability - which might come in handy if your take out someone else if you crash.

I'm always surprised at how many people put their bikes on their house insurance when they leave themselves open to big expense if the worst should happen...

I insured my carbon bike through the house insurance and guess what when the frame was totalled due to an mechanical fault they dont want nothing to do. I think I will go for full insurance next time.

nasahapley

I think there'll always be an element of pot luck with how much resistance an insurance company will put up to a claim. I've heard a few stories of claims for stolen/damaged bikes being refused on the flimsiest of grounds, but on the other hand I once had an unattended, unlocked bike nicked from outside a shop and the house insurance paid out no questions asked! But yeah, £390 a year is well above the mark, I've just insured a GSX-R600 for a fair bit less than that!

Lord_Nonsense

I've never tred them but there are plenty of Insurance ads in th back of Cycling Weekly but I will be soon as I'm about to take delivery of a new carbon and will want it insuring - clearly I need to shop around!

Shezzer

Got mine on the house insurance for a touch over £100 per year. It covers accidental damage on the road and time trialling but does not cover any mass start races. Bike is valued at £2,200.

No idea what they'd be like in the event of a claim tho.