bike insurance
clairelc
Posts: 49
first post, so be gentle!
I've just started cycling to work, and so bought myself and nice new shiny bike last month. Although only a cheap (by comparison standards, not to me!), bottom range bike, it still cost me more than I can afford to lose so want to insure it.
I did some research and found ETA insurance, which seemed like a good deal, until I read the fine print which says you have to keep the bike indoors or in a shed out of sight. This is where i have problems. I live in a block of flats in central london - i.e. no space inside to keep bike, and certainly no garden. We do however have a bike rack out the back of the building which is out of sight. (the block of flats itself is out of sight as its situated behind another separate block, and is walled off with a gate). Ringing up ETA, this isn't good enough, so i've checked other insurers and now can't seem to find one that explicitly says I can keep it in an outdoor bike rack AT HOME, and not indoors (which isn't an option). confused :?
so, does anyone have any recommendations or suggestions for where to go for insurance that will cover my bike? am i looking at crazy premiums because of this?
I've just started cycling to work, and so bought myself and nice new shiny bike last month. Although only a cheap (by comparison standards, not to me!), bottom range bike, it still cost me more than I can afford to lose so want to insure it.
I did some research and found ETA insurance, which seemed like a good deal, until I read the fine print which says you have to keep the bike indoors or in a shed out of sight. This is where i have problems. I live in a block of flats in central london - i.e. no space inside to keep bike, and certainly no garden. We do however have a bike rack out the back of the building which is out of sight. (the block of flats itself is out of sight as its situated behind another separate block, and is walled off with a gate). Ringing up ETA, this isn't good enough, so i've checked other insurers and now can't seem to find one that explicitly says I can keep it in an outdoor bike rack AT HOME, and not indoors (which isn't an option). confused :?
so, does anyone have any recommendations or suggestions for where to go for insurance that will cover my bike? am i looking at crazy premiums because of this?
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Comments
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I know you said it isnt an option, but I'd strongly recommend keeping your bike indoors if at all possible. Maybe on a wall mounted hook or ceiling hoist if space is tight? There are some pretty ingenious storage solutions out there.
http://www.indoorbikerack.net/0 -
Did you check it isn't already covered by your household insurance?0
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kelsen wrote:Did you check it isn't already covered by your household insurance?
Good idea. That is the approach I've always taken. I had to declare bikes over £250 (all of mine
) to get them covered when they are away from home. It must also be possible to get a bike specific policy that will cover it when it is locked up outside. Otherwise it will be uninsured every time you leave it locked outside where you work.
Mike0 -
I've asked my housemate to dig out the contents insurance policy to double check, but in the mean time am still researching.It must also be possible to get a bike specific policy that will cover it when it is locked up outside. Otherwise it will be uninsured every time you leave it locked outside where you work.
these are the types of policies i'm looking at, and its fine for out about, but at the home address it must be stored as I've mentioned in my original post
CrackFox - thanks for the suggestion. If i weren't in a shared flat that would definitely be an option. the only problem is i'd have to sort something like that out in my bedroom, and there just isn't the space. also hiking it up and down stairs everyday when there's a perfectly servicable bike rack downstairs would probably not encourage me to cycle more....0 -
Mine is insured (weirdly enough) through Marks & Spencer, who are happy to cover bikes locked outside. I do remember the hassle of trying to find a provider who did this though!0
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ooh interesting, is that a specific bike policy (can't find that on their website) or under your home/contents insurance?0
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M&S seem to work well for bikes for sure - as part of their contents insurance. They'll look after bikes up to £4K each, which is nice, don't need the bike to be locked under armed guard to an object at least the weight of the planet Mars etc.
Of course, the proof is in the claiming with any insurance policy, but I have read good things on M&S actually paying out (unlike some bike specific policies which seem to be a pain to make the claim on).
They have a zero excess (if you want), but pop that up to only £50 and the policy is very good value.
Thumbs up on the apparent great cover.0 -
oh that's a shame they don't do specific bike insurance.
Still got 6 months on the contents, and its a specific tenents policy which you can't get from too many insurers.
Still trying to work out whether i'm insured under the contents insurance, but they'll only speak to my housemate, and shes not been around to dig out the policy for me.
bah.0
