Bikes and home insurance?

Dick Scruttock

Can i ask who people use for home insurance and do they use the home insurance to cover there bikes?

Daz555

My bike is named on my Halifax policy. Cost about £2-odd a month extra for a £1000 bike.

schlepcycling

M&S, cover for bikes up to £4k each at no extra cost.

fletch8928

Churchill. 1x £995 named, excess £15. 1x £1400 named, excess £100 :shock: All for an extra £5.60ish/month. Had a claim for the £995 bike in the summer (damaged frame), new bike arrived 7 days later. the renewal price went up by £3.05p/month I think, but I did put my new bike on at the same time. Contents, new for old and the 2 bikes for less than £18/month. The bikes dont have to be locked up just in a locked shed or in the house. very happy with that

Dick Scruttock

Thanks, my parents have just taken out M&S insurance as it also has optional cover that covers my bike away from the house as long as it is locked up.

Briggo

Just be careful in regards to how the bikes have to be locked up and to what as all the house insurance policies differ.

At this time mine covers if its locked by a suitable chain or D-lock through back wheel (lol quick release) or frame to an immovable object, car rack (doesnt stipulate what type of car rack, so if its one of those rear ones you could just cut the straps and run off with bike and rack and still be covered) or post (lol lift it over).

Or if its locked away in a locked building, anywhere.

So I can pretty much leave my bike wherever throw a chain round it and its covered.

Others are far more strict.

Dick Scruttock

I rang them up to check. I asked if it had to be locked with any specific lock or any way of locking them and they said not.

fletch8928

I have said who i have mine covered by. Yet I am amazed by the amount of posts that crop up by folk who have a stolen bike and it seems they arn't covered or havent bothered insuring their bike. I spent more than I should have done on my bikes and when my frame got damaged i felt sick until I rang my insurance people. IMO its a no brainer, yes it costs a few quid more but its nawt compared to a new bike.Bit of a rant going on there, sorry all.

llamafarmer

fletch8928 wrote:

I have said who i have mine covered by. Yet I am amazed by the amount of posts that crop up by folk who have a stolen bike and it seems they arn't covered or havent bothered insuring their bike. I spent more than I should have done on my bikes and when my frame got damaged i felt sick until I rang my insurance people. IMO its a no brainer, yes it costs a few quid more but its nawt compared to a new bike.Bit of a rant going on there, sorry all.

I've had a lot of negative reactions from insurers as soon as I tell them I live in a shared flat, so it's not always simple. I do need to do more shopping around though, I'd like some sort of cover!

bails87

Home insurers are generally a lot less specific on what locks to use. Mine's covered if it's taken from me (mugged), or if it's stolen while locked with any lock to an immovable object or in the house/garage. It's also covered for accidental damage, so if I break a wheel, snap the frame etc, then I'm covered. All for a couple of quid a month. With Morethan I think.

Kanya

Went with MoreThan a whilke back, great cover and was pretty cheap too, and covered bikes up to £1.5k

mellex

schlepcycling wrote:

M&S, cover for bikes up to £4k each at no extra cost.

When I called them up to enquire, I was told very specifically that they don't cover anything over the 1K mark. Shame really as the cover they offered did seem very good. Must have been turning away too much business.

One thing my cover does include is damage from an 'attempted' theft. I know that some companies won't pay out if the item isn't actually removed.

alfablue

mellex wrote:

schlepcycling wrote:

M&S, cover for bikes up to £4k each at no extra cost.

When I called them up to enquire, I was told very specifically that they don't cover anything over the 1K mark. Shame really as the cover they offered did seem very good. Must have been turning away too much business.

One thing my cover does include is damage from an 'attempted' theft. I know that some companies won't pay out if the item isn't actually removed.

This is strange, the following appears under "Do you insure bicycles" on the M&S Home Insurance FAQ's:

Yes, and you do not need to specially mention a bicycle unless it is valued at £4000 or more.
The Contents section will cover your bicycles when it is in your home, an outbuilding or in your garden. The Cover Away From Home section of the policy will provide worldwide cover when they are temporarily removed from your home, including being taken abroad.

CraigXXL

Can someone clarify the situation with insurance as in if the bike is on the car it is under home policy but if it's in the car it's covered on the cars policy? I'm sure I've read somewhere this is the case but does anyone know the facts on this as a lot people transport their bikes in the car and if it was stolen from it then the car policy would most likely not cover it enough under the contents clause as these usually only go up to a couple of hundred.

Briggo

You can potentially claim on either Craig, depends on who offers the best cover.

Most home insurance companies covers items in a car and so too does car your insurance.

I'd say it'd be better claiming on your house insurance though due to motor NCB!

Items ON the car though would be through house insurance, I never heard of car insurance covering items left outside of the vehicle.

But it all depends though, there potentially could be car insurance that covers it too.

toontra

mellex wrote:

schlepcycling wrote:

M&S, cover for bikes up to £4k each at no extra cost.

When I called them up to enquire, I was told very specifically that they don't cover anything over the 1K mark. Shame really as the cover they offered did seem very good. Must have been turning away too much business.

One thing my cover does include is damage from an 'attempted' theft. I know that some companies won't pay out if the item isn't actually removed.

Well that isn't what my policy says, so they'd have to pay up. There are thousands of UK cyclists insured with M&S because of the 4k limit. They can't all be under-insured, can they?

bells0

Ditto - only reason i went with m & s was that there was a £4k per item/collection limit [anything over £4k and you have to notify them]

Doesn't mention anything about bikes only covered under £1k that i can see, and my policy started 31 Oct.

mellex

toontra wrote:

mellex wrote:

schlepcycling wrote:

M&S, cover for bikes up to £4k each at no extra cost.

When I called them up to enquire, I was told very specifically that they don't cover anything over the 1K mark. Shame really as the cover they offered did seem very good. Must have been turning away too much business.

One thing my cover does include is damage from an 'attempted' theft. I know that some companies won't pay out if the item isn't actually removed.

Well that isn't what my policy says, so they'd have to pay up. There are thousands of UK cyclists insured with M&S because of the 4k limit. They can't all be under-insured, can they?

Sorry, I did miss one important piece of information out. I called M&S over a year and a half ago. That is why I said that maybe their policy had changed, due to the fact that so many people now have a bike worth well in excess of the 1K mark.

I'm sure that there is nothing wrong with your policies