Insurance for bikes.

simonscan
simonscan Posts: 35
edited January 2013 in Road buying advice
I have 2 bikes which I'd like to insure, my winter bike which is worth £1000 and my summer bike which is worth around £6k new, can anyone recommend a good cover for both bikes.

Thanks.

Comments

  • essjaydee
    essjaydee Posts: 917
    Really....you've got a bike worth 6K and it's not insured for theft :shock:

    Your winter bike may well be covered on your home contents insurance, assuming you have this, so worth checking with them. As to your higher value bike, then your going to have get a seperate quote for that. If your a British Cycling member, they have links to specialist insurers, and you can get online instant quotes :|

    Other than that google is your friend :wink:

    With any insurance policy check what additional requirements they insist on, especially with regards to standards of any locks. Don't be suprised at having to buy some 'sold secure' gold approved locks also :|
  • on-yer-bike
    on-yer-bike Posts: 2,974
    Just been through the same thing. Specialist bike insurers want nearly £1000.00 to insure two bikes with replacement value of about £4-5000.00 each. My car is £360 and its in a high group.
    Pegoretti
    Colnago
    Cervelo
    Campagnolo
  • If I was to become a British Cycling member, do I automatically get Insurance through them, or do I need to take a separate policy out?
    For example, if I was to apply for a Gold Membership through british cycling, would I get insurance with this.
  • Just been through the same thing. Specialist bike insurers want nearly £1000.00 to insure two bikes with replacement value of about £4-5000.00 each. My car is £360 and its in a high group.

    May I ask who you used to insure your bikes please, thanks.
  • When I got my fully loaded Wilier Cento Uno I went straight to M&S before it even saw an inch of tarmac. I now have to pay an extra £24 a month on the contents insurance but the bike is now covered for theft in and out of the house and for crash damage.

    Just bought a pair of Zipp 303's so may need to pay more now...
  • Grill
    Grill Posts: 5,610
    I have both my Foil and Plasma insured through the BC scheme. The Foil is insured for 3k w/ race and worldwide travel cover and is around 220 a year and the Plasma is insured for 4k w/ just race cover (no travel) on a separate policy for 307 a year. They have excellent customer service and are quick to respond which I quite like.

    I should mention that I filed a claim for my Foil yesterday (frame cracked in transit on my trip back from the US) so I'll let you know how that goes as a true test of an insurer is their ability to follow deliver when something does go tits up.
    English Cycles V3 | Cervelo P5 | Cervelo T4 | Trek Domane Koppenberg
  • unixnerd
    unixnerd Posts: 2,864
    Best quote I could find to insure my 3k bike was 240 a year (more than my BMW). My existing house insurance with Direct Line will insure the bike free when it's in the house but not outside as it's over 2k, so I'll live with that.

    It seems to make little difference whether you live in Dodgyville or a wee village in the Highlands. Some sites don't even ask for your location.
    http://www.strathspey.co.uk - Quality Binoculars at a Sensible Price.
    Specialized Roubaix SL3 Expert 2012, Cannondale CAAD5,
    Marin Mount Vision (1997), Edinburgh Country tourer, 3 cats!
  • smidsy
    smidsy Posts: 5,273
    Prices to insure reflect the easily stolen nature of the item. A car is statistically far less likely to be pinched than a push bike.

    You pays your money, you makes your choice.
    Yellow is the new Black.
  • on-yer-bike
    on-yer-bike Posts: 2,974
    simonscan wrote:
    If I was to become a British Cycling member, do I automatically get Insurance through them, or do I need to take a separate policy out?
    For example, if I was to apply for a Gold Membership through british cycling, would I get insurance with this.
    You just get a discount with Cycle Guard and if you are a Gold member you get a bit more discount. You get 3rd party liabilty if you are a silver or gold member.
    Pegoretti
    Colnago
    Cervelo
    Campagnolo
  • on-yer-bike
    on-yer-bike Posts: 2,974
    simonscan wrote:
    Just been through the same thing. Specialist bike insurers want nearly £1000.00 to insure two bikes with replacement value of about £4-5000.00 each. My car is £360 and its in a high group.

    May I ask who you used to insure your bikes please, thanks.
    They were part of the home insurance with M&S but due to two non bike related claims in the last 3 years adding up to £1250.00 they wanted to charge me £1350.00 for the second year running for home ins renewal with one named bike. So, I changed to Tesco (£490) but they only cover bikes up to £2000.00 each. I was not going to bother insuring the bikes but now Im thinking twice. The best quote Ive got for £10,000 of cover on two bikes is from Protect Your Bubble at £655.20. That does not inc racing but does include Europe. So with Tesco and Bubble Im still better off than with M&S. With all insurance, you're f**cked once you make a claim even if youve paid them more than youve claimed, but dont get me started.
    Pegoretti
    Colnago
    Cervelo
    Campagnolo
  • Crispyapp
    Crispyapp Posts: 344
    From what I hear marks and spencer is very good for bike insurance however I think they have a £5k limit....
    Look 595 ultra - F+F for sale.....
    Cervelo r5
    Kinesis T2 2013 winter bike
    Merida Carbon 1500 flx MTB
  • Crispyapp wrote:
    From what I hear marks and spencer is very good for bike insurance however I think they have a £5k limit....

    They give a £5k limit as 'standard' but if a single bike is worth more then you have to pay extra, hence my need to pay £24 more.
  • Has anyone used Cycleguard for insurance?
    What are they like?
    Just been onto their website where you can get an instant quote, put the value of my summer bike which is £6k for new and it came back with £486 per year, £45.77 per month.
    I think it's more important for me to insure the most expensive bike out of the two.
  • I got mine from NFU, added £250 to my annual premium, but covers 5 quality bikes, all way over £1000 and one a long way over £1000...

    When you consider the annual premium I was quoted from protect your bubble and others for the expensive bike alone was over £360, in essence I saved £110 and got free insurance for the other 4
  • simonscan wrote:
    I have 2 bikes which I'd like to insure, my winter bike which is worth £1000 and my summer bike which is worth around £6k new, can anyone recommend a good cover for both bikes.

    Thanks.

    Give me your address and I can pop over to talk you through it, I sell bike insurance........ honest ;)
    A person who aims at nothing is sure to hit it

    Canyon Aeroad 7.0 summer missile
    Trek 2.1 winter hack
  • DavidJB
    DavidJB Posts: 2,019
    I'm convinced there is price fixing for bike insurance. Most of the services are run through a company called JLT online so prices are held artificially high. I can't get M&S insurance due to my house flooding in 2007 (nowhere near a river, just surface water) so I'm pretty much forced to pay.
  • If I was to get my insurance through M&S could I just get a separate policy for my summer bike?
    I don't want to be switching house insurance etc.... I just need insurance for the bikes.
  • Call them and say that you've got a new arrival and can you have it added to the contents and have the insurance adjusted. I have my 'standard' contents insurance with M&S that covers my sub £5k bikes and then I pay a bit extra for the more expensive bike.
  • There has been a lot of negative feedback on this site about cycleguard eg them not paying out. One person had all the components stolen off his bike, there was just the frame left and they wouldnt pay anything.Another person left their bike locked up and the bike was stolen but not the lock and they wouldnt pay out.
    I'd avoid them like the plague,plus their expensive.I've got my bike insured on the house insurance.
  • Grill
    Grill Posts: 5,610
    I can now confirm that the BC Insurance is top notch. 5 working days after filing my claim and the cheque is being sent to my LBS. They even set up a second policy for my Plasma as I don't need worldwide travel cover on it saving me almost 200 quid a year.
    English Cycles V3 | Cervelo P5 | Cervelo T4 | Trek Domane Koppenberg