Insurance - how likely is it my bike will be stolen?

phillt

Hello all,

Have very recently purchased a new hybrid from Evans, and am now looking at insurance. I can go with cycleguard for about £70 which includes personal liability, no excess and accessories included, OR I could put it on the home insurance for about £20, BUT.... with a £50 excess.

The Cycleguard seems more appropriate, but with the increased cost, it would only make it worth it if my bike was highly likely to be stolen within a year. I live in West London, store it in a locked brick shed at night, and have a ABUS Silver-rated D-lock and a cable for the other wheel.

So I guess my question is.... how likely is it that my bike will be nicked or b*ggered up by some tw@t in the first year? The bike has a value of £450.

oscarbudgie

Are these quotes just for theft from home? If not and £70 covers you outside home I'd say thats quite reasonable - mine's on the home insurance (Morethan) and was £60 a year for £1000 bike but with £50 excess. I was never asked about what lock I use - I almost never leave it unattended on the street and only have a shitty £25 halfords cable lock - do insurers batter you 'after the fact' if you don't have an £80 uber lock?

bobbymulrooney

London cycling campaign have free 3rd party insurance when you join up (25squid). They also have a cycling specific insurance scheme with butterworths (who have been very helpful when I spoke with them about going abroad). The cost of the insurance depends on the bike and its uses and presumably where you live. In the event of theft (which is inevitable in W LDN) all the insures will hassle you if you don't have a receipt for an approved lock (big ugly and heavy = approved)

benno68

oscarbudgie wrote:

Are these quotes just for theft from home? If not and £70 covers you outside home I'd say thats quite reasonable - mine's on the home insurance (Morethan) and was £60 a year for £1000 bike but with £50 excess. I was never asked about what lock I use - I almost never leave it unattended on the street and only have a shitty £25 halfords cable lock - do insurers batter you 'after the fact' if you don't have an £80 uber lock?

They shouldn't do unless they impose specific terms at the start of the policy ie. a BS standard lock must be used and the bike locked to a fixed object (read any terms very carefully).

TBH - unless it's an exceptionally high value claim or very dodgy circumstances - the insurers probably wouldn't bat an eyelid.