Bike Insurance

MountainPete

Been with E&L for the last year and haven't been too impressed, so I was wondering whether anyone could recommend a good service, good value insurance company to insure my £2500 Santa Cruz Superlight and £400 Carrera Virtuoso? (I know, I've got a road bike)

Thanks!

nferrar

I'd always recommend doing it under home contents insurance rather than a specialist bike insurer (they're usually less stringent in the T&C and should be a fair bit cheaper). If you do go with home contents then M&S are the most popular with cyclists as they have a good track record paying claims and you don't even need to declare the bikes as separate items unless any are over £4k value.

MountainPete

Thanks nferrar for your reply! Unfortunately I'm a student and rent a property, so don't have house insurance.

Anyone with any other suggestions?

JonnyN

Get house insurance!?

elcani

I just insured my house, and therefore my bikes with M&S. Seems like it's by far the best way, no need to even declare the bikes, yet they are insured worldwide.

Cheers

jimwocko

Endsleigh tenants insurance, covers most things in a rented property.
Bikes are insured anywhere, but you do have to name them on the policy at the start. Don't know if there is a maximum value though - students are supposed to be poor!

t0pc4t

we tried to put my bikes on our home insurance and they wouldn't insure them as my anthem was over 1k

mak3m

our house insurance said anything over £250 isnt covered by normal insurance and you have to pay an extra premium.

two bikes both around the £300 mark and they wanted and extra £41 per month and the bikes would be subject to a £100 excess

i told them to run and jump as my house insurance has a misc item policy for anything in the garage upto £1000 with no excess

think its only something peeps would need for 1000+ bikes, and i would need to shop around as my current quotes are ridiculous comparing them to the rest of my insurance.

wonder if like car insurance, they are linked to your post code, live in a nice area but bike crime is through the roof in rugby at the moment :?

Miggins

These: http://www.eta.co.uk/insurance/cycle

Miggins

These: http://www.eta.co.uk/insurance/cycle

trebor127

My dad has just insured my Scale 35 under his home insurance policy (Saga, I know you have to be over 50 but other insurance compnaies might be similar). It actually brought the premeum down by £3 a year :roll: And it is covered away from home aswell aslong as it was secured to a stationary object. Also the home insurance doesn't require you to have a lock that weighs a tonne to secure it..

Briggo

MountainPete wrote:

Thanks nferrar for your reply! Unfortunately I'm a student and rent a property, so don't have house insurance.

Anyone with any other suggestions?

House insurance is not the correct term.

There are two types of home insurance, contents and buildings insurance, as you rent a property you can have just contents insurance.

Get M&S contents insurance.

padinski

Halifax Insurance give you £50 cashback if you join them, also if you go through a cashback website such as Quidco (highly recommended - Wiggle is on there too as well as E Bay) you get cashback into your bank account on top of that too. In terms of bike insurance i insured with Halifax my £1200 Spesh road bike on my household policy as a named item and subsequently my Orange Crush and it only put my premium up by a few quid. To say an insurer want an extra £41 a month just for a bike is outrageous. :roll:

MountainPete

Thanks all again!

I'm looking into M&S contents insurance, and thanks padinski for the Halifax tip off... I'll take a look.

Anonymous

mak3m wrote:

our house insurance said anything over £250 isnt covered by normal insurance and you have to pay an extra premium.

That's very low, but usually it can be adjusted. Was that for items away from home?

Think mine is something like up to £1.5k worth of items away from home. That's with Nationwide. I should adjust it really as taking my bike and SLR consumes all that alone. Skiing I tend to go over that with all the kit I take.

wonder if like car insurance, they are linked to your post code, live in a nice area but bike crime is through the roof in rugby at the moment :?

Contents insurance is indeed affected by post code. Not just for crime, but also for things like flooding potential.

I'm pretty much stuck with which insurance I can pick though because I'm on the edge of a flood plain. Never flooded and I'm on the first floor, but most do it on postcode and "computer says no" when I try to get insurance.

Briggo wrote:

MountainPete wrote:

Thanks nferrar for your reply! Unfortunately I'm a student and rent a property, so don't have house insurance.

Anyone with any other suggestions?

House insurance is not the correct term.

There are two types of home insurance, contents and buildings insurance, as you rent a property you can have just contents insurance.

Get M&S contents insurance.

Student insurance is tricky as you may want insurance just for a room. Standard contents doesn't (or didn't when I was a student) cater for student rooms in a house or elsewhere as they have to deal with other people's property, whether the rooms are locked etc.

Endsleigh are the traditional student insurers. Seemingly cheap but bad value for money as they cover very little relative to the premiums, and make you pay extra for things like bikes and computers.

schlepcycling

ElCani wrote:

I just insured my house, and therefore my bikes with M&S. Seems like it's by far the best way, no need to even declare the bikes, yet they are insured worldwide.

Cheers

+1

Another vote for M&S. Bikes up to £4k each insured without having to declare them, no specific security requirements imposed and they're insured anywhere within the boundary, so including the garden. With premium cover you get accidental damage (not racing) and worldwide cover and my excess on the whole home contents policy was £50. Also the contents cover was unlimited.

ali$tair

schlepcycling wrote:

ElCani wrote:

I just insured my house, and therefore my bikes with M&S. Seems like it's by far the best way, no need to even declare the bikes, yet they are insured worldwide.

Cheers

+1

Another vote for M&S. Bikes up to £4k each insured without having to declare them, no specific security requirements imposed and they're insured anywhere within the boundary, so including the garden. With premium cover you get accidental damage (not racing) and worldwide cover and my excess on the whole home contents policy was £50. Also the contents cover was unlimited.

Thanks for the advice, just found out today that Endsleigh don't cover any bikes over £1,500. Have just taken out a policy with M&S instead.

If anyone uses Quidco, you will get £30 cashback going through them too (eventually).

J273

schlepcycling wrote:

ElCani wrote:

I just insured my house, and therefore my bikes with M&S. Seems like it's by far the best way, no need to even declare the bikes, yet they are insured worldwide.

Cheers

+1

Another vote for M&S. Bikes up to £4k each insured without having to declare them, no specific security requirements imposed and they're insured anywhere within the boundary, so including the garden. With premium cover you get accidental damage (not racing) and worldwide cover and my excess on the whole home contents policy was £50. Also the contents cover was unlimited.

Im going to be switching to M&S soon..im a little confused with regards the premium cover...do you have to declare the bike to get the premium cover?

Also whats the accidental damage include :?

Many thanks

ali$tair

http://money.marksandspencer.com/pdf/HI ... ummary.pdf

Page 3 & 5

No you dont have to declare for premium cover, the only difference is you get the accidental cover with Premium