Cycle Insurance

Guiddy
Guiddy Posts: 29
edited October 2011 in Road beginners
My Home Policy won't cover my Tarmac Pro as they don't cover bikes above £1000.
What is my best alternative. Value £4000. Insurance is coming in at £22.50 a month!
My car insurance costs less than that!

Comments

  • Gizmodo
    Gizmodo Posts: 1,928
    Lots of threads here on insurance recently. The consensus is to use Marks and Spencer for you home insurance because they insure bikes up to £4000 without you even having to mention them specifically.
    http://money.marksandspencer.com/insurance/home-insurance/overview/
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  • MattC59
    MattC59 Posts: 5,408
    M&S seems the way to go. If you want third party insurance have a look at CTC membership, you're covered with that.
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  • Guiddy
    Guiddy Posts: 29
    Thanks for your replies both of you.

    I looked at the CTC website but couldn't see much about the insurance cover, does anyone have it and can summize?
  • Clairep
    Clairep Posts: 17
    Total Cycle Assist - as advertised on Bikeradar - £24 per year, covers all bikes, accident etc...
    Road:Giant SCR3
    Commuting: Giant TCX2
  • ollyridesfirst
    ollyridesfirst Posts: 486
    Can't remember who i'm with for home insurance as i've just changed......but that's what mine is on. Covers anywhere in Europe and put the policy up by £25 :D
  • Scotxr
    Scotxr Posts: 172
    Guiddy wrote:
    My Home Policy won't cover my Tarmac Pro as they don't cover bikes above £1000.
    What is my best alternative. Value £4000. Insurance is coming in at £22.50 a month!
    My car insurance costs less than that!

    Both my bikes are named on our house insurance - both for £2500, covers home and away with them too

    With The Bank Of Scotland. Had a flood recently and they covered everything - including £1600 for a Macbook which was lying on the floor at the time.
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  • alfablue
    alfablue Posts: 8,497
    Got 10 bikes varying in value between £400 and £1500 each, M&S home and contents insurance covers me for £36pcm (for the entire policy) and includes cover wordlwide, and covers accident damage as well as loss. No quibbles about storage or locks. Any number of bikes covered to £4k each. If I got bike specific bike insurance I would probably have to pay 10% of the value of each bike per year, so around £700 per year (only most specialist policies won't even cover more than 5 bikes!).
  • Guiddy
    Guiddy Posts: 29
    Clairep wrote:
    Total Cycle Assist - as advertised on Bikeradar - £24 per year, covers all bikes, accident etc...

    Great untl you add Theft Plus which I need, then £30 a month!
  • prawny
    prawny Posts: 5,440
    Not keen on the Idead of adding bikes to my home insurance, what's if youve only got a bike worth £500-£1000 you're excess is going to eat up a lot of your payment. Also, losing your no claims discount is going to put your premium up for the next 3 years.

    Stand alone insurance is more expensive but there's no excess and no NCD to worry about, I might sort mine out soon.
    Saracen Tenet 3 - 2015 - Dead - Replaced with a Hack Frame
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  • prawny
    prawny Posts: 5,440
    Total cycle assist looks rubbish, all the cover is only if the accident isn't your fault, so effectively you're not getting anything you're entitled to anyway.

    The evans one looks pretty good.
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    Voodoo Bizango - 2014 - Dead - Hit by a car
    Vitus Sentier VRS - 2017
  • oldwelshman
    oldwelshman Posts: 4,733
    mine is with M&S and I was paid £2200 and £4400 for two crashes !! I now have a limit of £1000 per bike for damage but this year no crashes so ok :D
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  • Guiddy
    Guiddy Posts: 29
    e & l come up best from all my searches @ £23 a month!

    Any others are another tenner! Any more suggestions before I go with these guys?

    I can try M&S when my Home Insurance runs out but would it give me full cover, like if I dropped something on the frame and cracked it?
  • prawny
    prawny Posts: 5,440
    I've heard not great things about E&L have you tried evans?

    It's underwritten by JLT who are fair respectable. My quote was less than £80 for the year but value was much much lower than yours
    Saracen Tenet 3 - 2015 - Dead - Replaced with a Hack Frame
    Voodoo Bizango - 2014 - Dead - Hit by a car
    Vitus Sentier VRS - 2017
  • prawny
    prawny Posts: 5,440
    Scratch that for £4000 there's £35 at my postcode. Do some reading on E&L first before you bite the bullet though, and read the small print! :)
    Saracen Tenet 3 - 2015 - Dead - Replaced with a Hack Frame
    Voodoo Bizango - 2014 - Dead - Hit by a car
    Vitus Sentier VRS - 2017
  • alfablue
    alfablue Posts: 8,497
    Guiddy wrote:

    I can try M&S when my Home Insurance runs out but would it give me full cover, like if I dropped something on the frame and cracked it?
    yes, and you can probably swap before the end of your current policy, I did and Zurich made no extra charge.
  • Guiddy
    Guiddy Posts: 29
    prawny wrote:
    I've heard not great things about E&L have you tried evans?

    Tried Evans, £35 a month! :shock:

    Could you help with any info on e & l? I have gone with them, though on a month to month basis
  • Guiddy
    Guiddy Posts: 29
    OK guys, an hour spent on the net and answered my own question!

    I'll be cancelling within the 14 day cool off period, having read posts I still wouldn't class my loved Tarmac as insured even! :roll:
  • rolf_f
    rolf_f Posts: 16,015
    alfablue wrote:
    Guiddy wrote:

    I can try M&S when my Home Insurance runs out but would it give me full cover, like if I dropped something on the frame and cracked it?
    yes, and you can probably swap before the end of your current policy, I did and Zurich made no extra charge.

    Same here - I got a full refund on the remainder of my old policy because I was changing because they could no longer provide the cover I needed.
    Faster than a tent.......
  • Mark Alexander
    Mark Alexander Posts: 2,277
    I use http://www.jltonline.co.uk/ cycle guard for racing cover on my TT bike. they just agreed to pay out on my claim 2 months but for £1000 you expect some investigation. They were easy to deal with.
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  • Guiddy
    Guiddy Posts: 29
    Mark Alexander wrote:
    I use http://www.jltonline.co.uk/ cycle guard for racing cover on my TT bike. they just agreed to pay out on my claim 2 months but for £1000 you expect some investigation. They were easy to deal with.

    Comes out at £31.49 a month! Thanks though

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