Insurance advice

tetley10
tetley10 Posts: 693
edited January 2013 in Road beginners
I'm sure that there has already been multiple threads on this. Can anyone direct me to one? Or can anyone give me some advice on how best to insure a new bike. Home insurance? Bike insurance?

Thanks in advance.

Comments

  • sungod
    sungod Posts: 16,549
    my bike - faster than god's and twice as shiny
  • drlodge
    drlodge Posts: 4,826
    I find bike insurance prohibitively expensive, and when the bike is to be left somewhere out it requires such a massive lock it isn't practical either. Best is to keep your bike in the house, and when out under your crotch at all times.
    WyndyMilla Massive Attack | Rourke 953 | Condor Italia 531 Pro | Boardman CX Pro | DT Swiss RR440 Tubeless Wheels
    Find me on Strava
  • tetley10
    tetley10 Posts: 693
    drlodge wrote:
    I find bike insurance prohibitively expensive, and when the bike is to be left somewhere out it requires such a massive lock it isn't practical either. Best is to keep your bike in the house, and when out under your crotch at all times.

    I take it i can get it added to house insurance. That looks like the way most people do it according to the search provided.
  • extrusion
    extrusion Posts: 247
    I think mine is about 25 quid per bike for the year on sainsbury's home insurance. Not sure if that's good or bad in comparison to anyone else but it seemed a paltry amount to me, compared to the cost of the bikes!
  • ok I always point people here when this question comes up as it has a reasonable overview: http://www.londoncyclist.co.uk/bicycle-insurance/

    I used ETA who cover pretty much everything and give you the full value of your bike back with no deprecation. Also unlike most insurance companies they didn't insist on my shed having a certain type of lock. Didn't work out that cheap for me but I want peace of mind.

    House insurance is worth looking into - but bear in mind you could be paying a lot in excess and you may lose a lot in deprecation also...plus you dont get 3rd party insurance which may be something worth considering (you can get this via British Cycling or CTC etc membership though)
  • Mikey23
    Mikey23 Posts: 5,306
    Mine is insured through home insurance (direct line) as a named item. For a few pounds only, it is insured out of the home and abroad. Only prob is that there is a £1000 max and my bike is worth more. Also taken out British cycling insurance for third party liability and legal advice.
  • 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
  • drlodge
    drlodge Posts: 4,826
    Tetley10 wrote:
    drlodge wrote:
    I find bike insurance prohibitively expensive, and when the bike is to be left somewhere out it requires such a massive lock it isn't practical either. Best is to keep your bike in the house, and when out under your crotch at all times.

    I take it i can get it added to house insurance. That looks like the way most people do it according to the search provided.

    I live in a flat, and my contents insurance with Direct Line is only £40 a year, and it covers bikes with no value limit. Hence its covered when in the flat, just not when outside but then I'm riding it.
    WyndyMilla Massive Attack | Rourke 953 | Condor Italia 531 Pro | Boardman CX Pro | DT Swiss RR440 Tubeless Wheels
    Find me on Strava
  • tetley10
    tetley10 Posts: 693
    E&L insurance will do my bike, lights and clobber for £8 a month. This includes personal injury and 3rd party. Seems like a good deal.
  • Grill
    Grill Posts: 5,610
    wilo13 wrote:
    I don't know if you race or not or how much your bikes are worth but if you do race and are signed up to BC then it might be worth getting your bikes insured through them. I did and it cost me £280 for the year to do both my bikes with a total value of £3500. That covers me for accidental damage during races and there is no excess to pay for claims unless you keep your bikes in a shed. http://www.bcbikeinsurance.co.uk

    This. I have my Foil and Plasma insured through BC. I filed a claim for a cracked frame on my Foil (thank you baggage handlers) last week and the cheque will be at my LBS next week. Very friendly and helpful and they suggested and sorted separate policies for my bikes to lower the premium.
    English Cycles V3 | Cervelo P5 | Cervelo T4 | Trek Domane Koppenberg
  • tetley10
    tetley10 Posts: 693
    Cheers all. Ill check out BC as well.
  • Monty Dog
    Monty Dog Posts: 20,614
    Premiums for bike insurance = 10% of insured value, so if like me you have 6 bikes, the premium would be £1k/year. Mine are insured under my home contents for a premium of about two hundred - I only race what I can afford to crash...
    Make mine an Italian, with Campagnolo on the side..