Insuring my Bikes

dexradio
dexradio Posts: 54
edited August 2009 in Commuting chat
Not sure if this is the proper place on the forum to post this but here goes.

Just been looking at a quote to insure my bikes on a fairly popular retailers website. I've got three bikes, a Trek Road Bike, Trek Hybrid and Kona Mountain Bike, total new approx £5k. My home insurance covers them to a point but in the event of loss I'd be putting my hand in my pocket. So I figured I'd run it through the retailers price calculator on their website.

£667 PA, I nearly fell off my chair, and an extortionate 25.9%APR if I wanted to pay monthly. Is this typical? Anyone got any guidance for me on what I should do, where I should look for insurance. To be fair that quote was for the top level of insurance, theft, accidental damage, Public Liability and for leisure and racing use. Am I being unreasonable? Perhaps its me???

Any thoughts? This is more expensive per annum then insuring my car, and that cost £35k

Dex.

Comments

  • Clever Pun
    Clever Pun Posts: 6,778
    add it on to your home insurance, that's what I do, if you specifiy the bikes and their cost the £500 limit (or whatever it is) doesn't apply
    Purveyor of sonic doom

    Very Hairy Roadie - FCN 4
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  • schlepcycling
    schlepcycling Posts: 1,614
    Change your home contents to M&S they insure bikes upto £4k each as part of their standard policy.
    'Hello to Jason Isaacs'
  • Clever Pun
    Clever Pun Posts: 6,778
    schlepcycling wrote:
    Change your home contents to M&S they insure bikes upto £4k each as part of their standard policy.

    really???? wow I've only just started a new policy... feck
    Purveyor of sonic doom

    Very Hairy Roadie - FCN 4
    Fixed Pista- FCN 5
    Beared Bromptonite - FCN 14
  • cannonfodder
    cannonfodder Posts: 183
    Yeah M&S are great for bikes. Great service too if you have to claim. The bikes were fine in the garage - but the house got burgled....
  • DanielCoffey
    DanielCoffey Posts: 142
    dexradio wrote:
    To be fair that quote was for the top level of insurance, theft, accidental damage, Public Liability and for leisure and racing use.

    Do you need the racing use liability? You might find that "home" policies don't offer that coverage as standard, so you need to make sure you are comparing like with like.
  • sharm1969ca
    sharm1969ca Posts: 136
    dexradio, try ETA, ive just started a policy with them and sounds great, my bike is worth say £300 and it costs £30 for the year, it covers it in the shed, dosnt have to be locked to anything just requires a padlock on the shed also if there are windows then they need to be blacked out, ALSO you you get 25000 3rd party insurance ALSO breakdown cover. well worth checking mate.
  • malcsussex
    malcsussex Posts: 32
    i cover my bike via my home insurer. However check the wording for things like, limit per bike ,excess, restrictions if not in a locked garage or building, cover away from home i.e. IN the street etc, regarding liability insurance your household policy may cover this anyway...
    No one told me about that hill!!!
  • PinkPedal
    PinkPedal Posts: 180
    I have ETA insurance too, hopefully I will never have to claim and find out how their serice is. I think their "I love my bike" policy covers racing as standard.
  • Oddjob62
    Oddjob62 Posts: 1,056
    This thread seems to rate ETA pretty highly. I'll probably go with them once the new girl arrives

    http://www.bikeradar.com/forum/viewtopic.php?p=15527773
    As yet unnamed (Dolan Seta)
    Joelle (Focus Expert SRAM)
  • nation
    nation Posts: 609
    Clever Pun wrote:
    schlepcycling wrote:
    Change your home contents to M&S they insure bikes upto £4k each as part of their standard policy.

    really???? wow I've only just started a new policy... feck

    You can probably cancel and get a proportional refund if you haven't made a claim.
  • Headhuunter
    Headhuunter Posts: 6,494
    How does ETA compare to M&S? I keep my bikes in a shed without winows, what do both require in terms of locks etc? How about if the bike gets nicked from the street somewhere (whilst locked), do they both cover that or is it just when the bikes are at home?
    Do not write below this line. Office use only.
  • PinkPedal
    PinkPedal Posts: 180
    Cover is here: http://www.eta.co.uk/insurance/cycle/summary

    I went for it because my cover on my old bike (the CycleScheme recommended CycleGuard) didn't cover my bike if it was locked up outside in my garden. I think that some policies also have a multitude of rules about the locks that sheds have to be fitted with to be covered. ETA was slightly more expensive, but seems to offer much wider cover...plus the "roadside recovery" :lol:
  • dexradio
    dexradio Posts: 54
    Hi everyone,

    Thanks for the various comments, I'll go and have a look at both M&S and ETA. I probably don't need "all" the cover I've specified, so can do some fine tuning there. I remain quite shocked at the quote given that its an organisation you'd expect to be supporting and encouraging cycling not just as they sell you the bike but in all these other associated areas as well.

    Regards,

    Dex.

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