Do you insure your bikes outside of home?

nich

Some poor soul's bike got nicked from the cycle racks near work today, so I've panic-brought some insurance.

£80~ a year for 2 bikes (combined value of around £1400).

At least it'll give me piece of mind, but god I hate thiefs! :evil:

ndru

Definitely. I'd rather spend L60 on my insurance then for out L600 when I find the bike gone...

dhope

I really should

iPete

I should also, generally my bikes are inside 95% of the time but you never know. Only gone as far as insuring myself to date.

CyclingBantam

dhope wrote:

I really should

+1

fenboy369

Via M+S home insurance, yes I do.

nation

Yep, on the home insurance.

I looked into specific cycle policies, but everything I looked at was vastly more expensive than just adding it to the home insurance.

gtvlusso

Yep - specified on home insurance.

Check specific bike insurance though. If the parts/components are nicked and the frame is left locked up - some insurance won't pay out - bikeguard for example.

Best to read the small print

nich

nation wrote:

Yep, on the home insurance.

I looked into specific cycle policies, but everything I looked at was vastly more expensive than just adding it to the home insurance.

This is what I found. Also less strict as well, with mine (direct line) they don't even care what lock you have (as long as it's not some really old combination lock, so the man said).

gaz545

Mine are insured for £1000 outside of the home. My commuter comes in at under £1,000 and my carbon bike at nearly £2,000. Neither of them are locked up on the streets for long.

Headhuunter

iPete wrote:

I should also, generally my bikes are inside 95% of the time but you never know. Only gone as far as insuring myself to date.

You insured yourself? Wonder what your resale value at Brick Lane market or on ebay would be....

iPete

Headhuunter wrote:

iPete wrote:

I should also, generally my bikes are inside 95% of the time but you never know. Only gone as far as insuring myself to date.

You insured yourself? Wonder what your resale value at Brick Lane market or on ebay would be....

Insured to the value of whatever I can crash into!

mudcow007

question - i have recently moved into my own house (yes im a proper grown up now) my mrs doesnt want me to put my bike(s) on the house policy as she said that if they ever get stolen, our premium would go up the following year

is there any truth in that>?

Pep

No.

Last time I checked the premium is about 1/10th of the value of the bike. So far I had one bike stolen in the last 37yr, so better off not to insure.

And the bike I had stolen was because I was careless, insurance company would not have payd anyway.

nation

mudcow007 wrote:

question - i have recently moved into my own house (yes im a proper grown up now) my mrs doesnt want me to put my bike(s) on the house policy as she said that if they ever get stolen, our premium would go up the following year

is there any truth in that>?

If you claim, then probably yes, because your claims history is one of the factors that influence your premium.

But you could say the same of your TV getting nicked.

I'd rather have them insured and have the option of not claiming if I think I can take the financial hit, than not insure them and be SOL if I happen to be skint.

Clever Pun

I lump mine on my contents insurance.. getting it all sorted is a pain but piece of mind is a good thing

Redhog14

Got my bikes insured for upto £1700 away from home via my House Insurance.

So far as premiums rising ;if you claim anything on your insurance it rises, so when your missus drops her engagment ring in the waste disposal unit... net result is the same!

BTW that is not a sexist comment on women and proximity to kitchen sinks it just happens to be a real world example I know of!

nation

I worked property insurance for years. I could tell you some stories.

I'm still stunned by the people that have a massive stone in their engagement ring and then don't take it off when they're gardening.

Drysuitdiver

yup. joined CTC and insured all 6 bikes including the kids bikes we have for theft etc away from home. they are covered at home on household policy . was cheaper if wife was policyholder as she gets an over 40 discount ha ha

had no luck with any of the other main insurers for getting the kids bikes covered while we are on our camping trips as they don't do bikes for under 12s. ??

shouldbeinbed

Bespoke on the home insurance too. Better anti theft policy is a decent lock & common sense where you park it.

And a dab of good luck

I've got liability insurance to pay out if I kill or injure someone & legal cover to sue if I need to

veronese68

Some locks come with some sort of insurance if the bike is stolen by breaking the lock. Lots of exclusions though. Mine are covered on the household policy wherever they are. Had a bike nicked and the premium only went up a little bit.

shouldbeinbed

Veronese68 wrote:

Some locks come with some sort of insurance if the bike is stolen by breaking the lock. Lots of exclusions though. Mine are covered on the household policy wherever they are. Had a bike nicked and the premium only went up a little bit.

Kind of. My lock has liability upto £1400 if the lock is broken but less any insurance payout received & void if power tools used, they make it clear that it is not insurance, nor to be considered as a replacement for it.