Insurance for Expensive Bikes

designman
designman Posts: 405
edited May 2011 in Road buying advice
I'm just about to pick up my new Trek 6.9 SSL and need some advice on insurance, what do people on here use to insure their bikes which are over £4k.

Thanks.

Comments

  • Monty Dog
    Monty Dog Posts: 20,614
    As part of home contents, I use M&S. Prohibitively expensive otherwise as you'll pay 10% value of the bike in premiums if you take out a seperate policy.
    Make mine an Italian, with Campagnolo on the side..
  • antlaff
    antlaff Posts: 583
    Monty Dog wrote:
    As part of home contents, I use M&S. Prohibitively expensive otherwise as you'll pay 10% value of the bike in premiums if you take out a seperate policy.

    +1 for M&S
  • FoldingJoe
    FoldingJoe Posts: 1,327
    How much did you guys pay extra to cover your bikes?

    I just spoke to my provider about covering my Ribble and they wanted £44 for 9 months cover, which I thought was a bit steep.
    Little boy to Obama: "My Dad says that you read all our emails"
    Obama to little boy: "He's not your real Dad"

    Kona Honky Tonk for sale: http://www.bikeradar.com/forums/viewtopic.php?f=40090&t=13000807
  • rolf_f
    rolf_f Posts: 16,015
    M&S don't even ask for info for any single item less than 4k (so basically, no charge at all). Over 4k you have to notify them but whether or not it would incur a charge I don't know.
    Faster than a tent.......
  • marcusjb
    marcusjb Posts: 2,412
    The problem with M&S (for the OP) is that they only cover bikes up to £4K - the OP says his bike is worth more than this.

    I use M&S - but none of my bikes are worth over £4K.

    I am fairly sure you'd have to look at a specialist policy, and it's going to be mega-bucks. I remember asking Cycle Guard about a quotation when I got the tandem (worth about £3K) and they wanted a small fortune. That's when I moved to M&S.
  • firetone
    firetone Posts: 64
    Will M&S home insurance cover you while racing?
    Thanks
  • P_Tucker
    P_Tucker Posts: 1,878
    firetone wrote:
    Will M&S home insurance cover you while racing?
    Thanks

    If you have away from home and accidental damage, and you are not a pro, then yes.
  • Slack
    Slack Posts: 326
    Also worth checking Halifax. Our contents (new for old etc) are covered for £22 per rmonth, including £5,000 worth of bikes individually named on the policy documents.
    Plymouthsteve for councillor!!
  • sungod
    sungod Posts: 16,522
    marcusjb wrote:
    The problem with M&S (for the OP) is that they only cover bikes up to £4K - the OP says his bike is worth more than this.

    I use M&S - but none of my bikes are worth over £4K.

    I am fairly sure you'd have to look at a specialist policy, and it's going to be mega-bucks. I remember asking Cycle Guard about a quotation when I got the tandem (worth about £3K) and they wanted a small fortune. That's when I moved to M&S.

    m&s *do* cover bikes over 4k, you just need to tell them and they factor it into the policy

    one of mine is way over 4k, i told them, they cover it - i've claimed on it too

    cost of m&s premier unlimited cover including bikes was comparable to my previous hsbc limited contents cover (which excluded the bikes)

    worldwide cover for bikes, laptops etc. etc. away from home, plus contents, really excellent value
    my bike - faster than god's and twice as shiny
  • designman
    designman Posts: 405
    Can you just get M&S cover for bikes?
    I don't want home contents cover, we already have this through Legal & General.
    Or should I look for specialist bike cover....
  • nferrar
    nferrar Posts: 2,511
    Specialist bike cover is normally around 10% of the bike's value per year, i.e. it's a complete rip-off. Some do include racing cover and roadside rescue but they also usually have lots of small print on certain types of lock being required. You're usually better of cancelling your current home contents, even if you don't get a refund, and going with someone like M&S (no they don't do bike only cover).
  • thegreatdivide
    thegreatdivide Posts: 5,803
    What's the deal with M&S cover when you have several bikes with a total worth of well over £4k?
  • hugo15
    hugo15 Posts: 1,101
    What's the deal with M&S cover when you have several bikes with a total worth of well over £4k?

    The fact that when you add them together they total more than £4k is not an issue as each bike is seen as an individual item, not part of a set. So long as each bike is worth less than £4k then you don't have to list them.

    The M&S policy comes in to its own when you have a number of bikes that you need cover for.
  • Lillywhite
    Lillywhite Posts: 742
    Out of interest, M&S cover is actually provided by AXA.
  • alan_sherman
    alan_sherman Posts: 1,157
    M&S replacement agents (at least this week anyway) are www.wheelies.co.uk.

    Seem pretty good to claim from too. My wife's hybrid was stolen last Friday, we are expecting delivery of the replacement after the Bank Holiday.
  • rolf_f
    rolf_f Posts: 16,015
    designman wrote:
    Can you just get M&S cover for bikes?
    I don't want home contents cover, we already have this through Legal & General.
    Or should I look for specialist bike cover....

    When I got an expensive bike I rang them up and asked them to cover it for me. Basically they refused as it was worth over their limit of £1500. I then got an M&S quote and finished the original insurance early. I got a pro-rata refund as I was changing because they could no longer insure me.

    So, you might want to try getting L&G to cover you and see what they say if they can't and you request a cancellation.
    Faster than a tent.......
  • Lillywhite
    Lillywhite Posts: 742
    P_Tucker wrote:
    firetone wrote:
    Will M&S home insurance cover you while racing?
    Thanks

    If you have away from home and accidental damage, and you are not a pro, then yes.

    There seems to have been a recent change in policy by M&S as per post from another forum.

    "Posted originally on a similar thread regarding M and S and their cover for racing purposes, as long as you are not a professional.
    Have just had my renewal and they no longer offer this as part of your cover!!

    The comment was that although they had done so in the past they could no longer offer that option..."
  • StillGoing
    StillGoing Posts: 5,211
    We're with More than who readily covered all of our bikes. The Basso did incur a charge because it came in at £4k+ but it wasn't anywhere near what a specialised cycle insurer wanted. It also covers the bike away from home and against accidental damage.
    I ride a bike. Doesn't make me green or a tree hugger. I drive a car too.
  • P_Tucker
    P_Tucker Posts: 1,878
    Lillywhite wrote:
    P_Tucker wrote:
    firetone wrote:
    Will M&S home insurance cover you while racing?
    Thanks

    If you have away from home and accidental damage, and you are not a pro, then yes.

    There seems to have been a recent change in policy by M&S as per post from another forum.

    "Posted originally on a similar thread regarding M and S and their cover for racing purposes, as long as you are not a professional.
    Have just had my renewal and they no longer offer this as part of your cover!!

    The comment was that although they had done so in the past they could no longer offer that option..."

    Yeah, I read that too. Would be interested to see if anyone else reports the same; if there's one thing we know about insurance, it's that if you ask a 3 phone-monkeys from the same company the same question you'll get 3 different answers.
  • P_Tucker
    P_Tucker Posts: 1,878
    Lillywhite wrote:
    Out of interest, M&S cover is actually provided by AXA.

    Why is that interesting?