which Insurance

bragawd

Hi all just bought a new bike and was needing to either upgrade my home cover to cover the new bike or maybe going for a mountain bike specific insurance ... bike value £2225

cheers.

Anonymous

Cover for what?

Theft or accidental damage - House. But check how much they'll pay out for a single item and if they have an issues with upgrades and components on bikes. Many are getting picky now.

By accidental damage, this would cover you dropping it, dropping something on it, running over it with the car etc, not crashing during a ride.

If you want cover for crashing that's another matter, and yet another if you are entering any competitive events. For that you'd be better with dedicated insurance. Some will give you medical and also cover for the bike. The expense of them makes it probably only worth doing it for specific events. Abroad you can use travel insurance but watch the single item limit again, and check carefully what they say about competitive events if you want to do any. Usually travel insurance won't cover the UK, or gives limited cover.

In general though, the way I look at it, how often are you likely to claim? One every 5, 10 years, longer? Worth even bothering with insurance? Sure if the worst happens it costs you a new bike, but if it's rare I'm prepared to take the risk and just pay up if it happens rather than pay an insurance company for something that probably wont happen. Meanwhile I just keep the bike very securely locked in the house (never shed or garage - easy pickings) and never out of my sight when out and about with it. Limit the risk.