Road Bike Insurance

Soni

I would really love to get a Trek Madone at the end of May, not for the weight advantage of CF, but due to the looks, however im worried about frame failure either by fatigue under the stress of my weight or by accident.

I realise there will be a lot of carbon is a lot stronger than people think responses, but that wont help me, I would like to hear from those who have had bike insurance cover and successfully managed to make a claim when their frame failed or those who were not able to.

I have M&S home insurance and took it out a couple of years ago just before they reduced the cover for bikes, but even though you have it in black and white that they are covered for accidental damage and away from home etc., how many actually follow through and pay out?

I wouldnt be able to afford a replacement frame if it failed and this is therefore a certain deal breaker for me whether I get one or not.....

Grill

BC Cycling Insurance. They replaced my Foil frameset when it was damaged by naughty baggage handlers quickly and with zero fuss. You get what you pay for when it comes to insurance.

kamil1891

Does BC insurance replace your bike if it's stolen at home though?
And how does it work in terms of proof of identity? I do not have a receipt for my bike as it was bought outside of ebay. I have receipts for most of the parts though as I've upgraded almost every part since I've bought the bike.
Last question, if I've bought something on sale do I tell them the RRP price or the price I bought it for? I know it would be very unlikely to find another item at such a discounted price in future and the price I've bought it for for e.g. would not replace the quality of that particular component.

Thanks

Grill

I just insure through them, I'm not an agent. You should contact them and ask them yourself.

I do know that bikes are insured based upon their RRP regardless of what you paid. This isn't an issue as they replace at RRP as well.

sungod

i also have the original m&s insurance, i chose the worldwide away from home option, and listed £5k bike as it was over the item limit

2 days after i took out the policy, a car pulled right across me, left me in a heap and sped off, no way to get number, police never traced it

so i had to claim on m&s

damage to bike+clothing was c. £2k

initially m&s asked me to use wheelies for repairs and replacements, but they couldn't provide most of the clothing and after talking with them i was really not happy about letting them anywhere near my bike

explained to m&s, no hassle, they paid the full value of the claim to my bank account

crash to cash, it was less than a week

on the downside, premium went up the next year

you ask...

I have M&S home insurance and took it out a couple of years ago just before they reduced the cover for bikes, but even though you have it in black and white that they are covered for accidental damage and away from home etc., how many actually follow through and pay out?

...should be all of them, it's the law, otherwise you take them to court and win, but i'm sure some are more hassle than others to deal with

Froomes Edgar

I have the original M&S too, and my renewal has recently arrived explicitly reducing the cover for bikes to £2k. Thank Raptor Jesus I have a Chinarello.

sungod

Froomes Edgar wrote:

I have the original M&S too, and my renewal has recently arrived explicitly reducing the cover for bikes to £2k. Thank Raptor Jesus I have a Chinarello.

wow, i just went to check mine, it was renewed in september, still lists the bike

i'd better watch out for that at next renewal

Froomes Edgar

Yer. I blame other cyclists taking out M&S home insurance then claiming for bikes. You selfish bar$tards

Soni

Cheers for the replies guys, as mentioned in my original post I took the insurance out with M &S before they changed the bike cover and I havent receives anything from them saying it had changed.

I understood that providing you dont cancel and then renew, that nothing changes?

I also have the worldwide away from home type.

What about accidental damage like dropping or crashing a carbon frame, anybody made a claim?

Froomes Edgar

Soni wrote:

I understood that providing you dont cancel and then renew, that nothing changes?

As I've said, they seem to have changed that policy.

FJJ

I insure with More Than, they provide away from home cover up to 5k for bikes as long as those valued above 1.5k are declared.

Fortunately not had to make a claim yet.

socrates

I spoke to More Than yesterday when they rang me about home insurance and they told me that they only insure bikes up to £1500. Maybe they have changed their policy.

Sponge999

I'm currently trawling the internet for suggestions on bicycle insurance as M&S have just changed my policy to their new T&Cs on bicycles.

I've been with them for several years and whilst I was vaguely aware that new customers weren't getting as good a deal as existing ones, they've now caught up with me. It appears if you're renewal is pre-2013, you're okay for another year, but afterwards (mine is 7th March) it'll be on the new T&Cs, i.e. one now doesn't have to declare items over £4000, but bicycles over £2000* do have to be declared (if you don't, they're not covered at all) and there will be an increase in premium.

*New customers have to declare bikes over £1000.

When I declared my £2600 mtb my premium went up £40. That was a 10% hike in premium and app. 1.5% of my bike's worth.

I'm getting quotes from other companies, but it's mine-field. The comparison sites are too simplistic and even if you specify a cycle of £xxxx you don't know if the policies they suggest are new for old, have requirements like locks (off a list) and sometimes don't even cover bikes of that value despite providing a quote.

I'm going to check out 'More Than', but I'm preparing myself to be disappointed and having to swallow the M&S change of policy and hike in premium.

Anonymous

It was so nice when the M&S limit was 4k :roll:

jane90

Has anyone used Safe As Insurance (or better yet, made a claim against them)? I've been shopping around on the web and they seem to offer by far the lowest premiums. They seem to be a division of Healthy Pets Insurance and I can find nothing but good testimonials from owners sending Mrs Tiddles to the vet but nothing relating to bike claims.

Sponge999

I've just completed a quote with More Than and compared to the others it's quite competitive. But when I adjust the quote to make it like-for-like (as far as I can) with M&S, the premium increases and comes in slightly higher than M&S's renewal. When you factor in More Than's cover isn't quite as good as M&S's, i.e. there are limits, whereas M&S is unlimited, it looks like I'll be sticking with the devil I know.

Out of curiosity, I got an online quote from M&S (as a new customer): the premium was over double my current renewal! :shock:

Anonymous

I imagine we will be staying with M&S even though 2 of our bikes (my 2 ) are just over 2k.
I am sure that if we look around we will not find anything better.

Interesting about the cost as a new customer sponge999

durhamwasp

Ive got 4 bikes in our garage (£1600, £900, £800 & £800)

Just done a quote with Morethan and came in cheap (£16 a month) possibly because i only had to declare any bike over £1500. I notice it says i am covered for £2000 for garage theft, plus any declared cycles (so would be about £500 short...)

Anyone used/using them, and know if it includes the items away from home? - *edit* just checked - includes bicycles away from the home worldwide up to £5k.

(M&S cover was £28 for me)