insuring your bike

AlbertGregory

where or how to insuring your bike whats it cost and do you insure yours thanks

nferrar

Home contents is generally the cheapest, the specialist insurers like cycleguard are normally are 10% of the bike's value in annual premium, they do have some minor benefits but also tend to be much stricter on the small print (certain ratings of locks required etc.).
M&S home insurance used to be the most popular, you didn't even need to declare bikes individually if they were under £4k each, however they've apparently just changed their terms now so you'd need to check (think it might be you need to declare bikes over £1k in value). Having to declare them usually means an additional cost but still probably cheaper than specialist (I have one bike declared on mine and it's less than 1% of the bike's value additional cost on the premium)

sungod

i'm with m&s

their cover is pretty good

Evil Laugh

With M&S and have the £4k cover which I had to put to the test today, will see how it pans out. I had to claim for lost phone a few weeks ago and couldn't have been any easier.

They have so far been really helpful with my bike claim (got hit by car) and advised me throughout on what to do re driver etc.

So far so good..

lef

+1 on M&S though not had to claim. Also british cycling do insurance to cover injury and I think legal aid etc. That combined with M&S should see you pretty well covered.

oldwelshman

M&S are great and very helpful. Unfortunately for them I had to claim twice, first one after bad crash and claimed £2500 and second unlucky one, not a bad crash but bar twisted and went into top tube on a prince so that claim was £4300. On both occasions dealt with quickly and paid money into my account within days.
I did not have to pay anything to declare bikes over £4k just name them dont know if this has changed.
MAybe we should not promote them before they realise how cheap and good they are and they increase my premium

Evil Laugh

It's changed for new customers from what I can gather the £4k unnamed limit is down to £1k. For those of us already in on the £4k deal, renewal should be on the same terms.

One Man And His Bike

I have mine with http://www.cycleguard.co.uk/ via Evans who I bought my bike from, it's about £7 per month for around £1200 worth of bike.

schlepcycling

Evil Laugh wrote:

It's changed for new customers from what I can gather the £4k unnamed limit is down to £1k. For those of us already in on the £4k deal, renewal should be on the same terms.

Unless you claim and then at your next renewal the limit is down to £1k, that's what happened to me anyway.

Hinzy9

I recently took out policy with M&S and the limit for (unspecified) bikes was £2500 not £4000
Have they recently changed this?

Evil Laugh

Just a quick update to say M&S were really helpful sorting out my claim. They just OKed the payment to me and are going after the driver who hit me for costs so I don't have to wait for my stuff to be replaced. So hopefully it doesn't go against me as a claim on my policy. Was a pretty obvious case of dangerous driving so I should be ok.


Had a bit of an issue dealing with their "official supplier" Wheelies who offered me goods nowhere near the value of those damaged but I just rejected it, got an independent valuation and they paid up in full.

sungod

Evil Laugh wrote:

Just a quick update to say M&S were really helpful sorting out my claim. They just OKed the payment to me and are going after the driver who hit me for costs so I don't have to wait for my stuff to be replaced. So hopefully it doesn't go against me as a claim on my policy. Was a pretty obvious case of dangerous driving so I should be ok.


Had a bit of an issue dealing with their "official supplier" Wheelies who offered me goods nowhere near the value of those damaged but I just rejected it, got an independent valuation and they paid up in full.

wheelies are the only downside of m&s, i also rejected them, after explaining it to m&s they just gave me the money, no hassle

cgcrute

+1 M&S

I went with them a few years back after my current ensurer wanted £150+ per bike. M&S actually worked out cheaper and I ended up with more cover! They didn't make me specify the contents value, if you loose it all they pay for it all to be replaced.

I was concerned there would be stipulations about how I stored the bike (it's stored in a locked garage and locked to a wall, but you can't be too careful with insurers). They said there were no restrictions. I tested this by asking what would happen if I put my bike (at the time a £2500 Kona mountain bike) out in the street, not locked, and someone stole it. They said it would be covered. I was impressed but expressed concern that this wouldn't be the case when I registered a claim, they informed me that the call was recorded and stored and that was therefore binding. Signed up there and then!

This may all have changed now so it's worth checking.

jamienorton

just had an online quote from M&S came to £10 a month, with bikes over £1000 declared. Sounds cheap? am i missing something, first time getting insurance. PS thats contents only

nickellis

jamienorton,

how did you manage to get £10 a month. Put in one bike worth £2k and it came out a £49 per month with a £50 excess. I know SE London is a bit ropey at night, but thats a little ridiculous.

jamienorton

I did it through moneysupermarket, just done it again with accidental damage and came to £14 a month, i live in the corner of a col de sac, so not much foot traffic, but dont know if they take that into consideration from just postcode. But yea im pretty sure ive entered all the details in correctly. Bear in mind that contents only.