M&S Household Insurance

Hoopdriver
Hoopdriver Posts: 2,023
edited May 2013 in The cake stop
I have just been in the process of renewing my household insurance which I have had with Marks & Spencer for the past few years since their policy provisions allowed you to include bicycles up to the value of £4000 pounds each. It was a good deal and I know that it was the go-to policy for quite a few cyclists.

I had heard that they had changed good deal for cyclists for new policyholders, but that those who had the old policies still had the original provisions. No longer. Even if you are under the terms of an older policy the threshold is now £2000 pounds and if you have bikes worth more than you can expect to pay a hefty surcharge - by that I mean more than doubling your entire household contents quote.

I just thought I would pass this on as I know a lot of cyclists use M&S for their household insurance because of the good deal they used to offer cyclists.

It ain't there no more.
http://www.My-Bicycle-and-I.com

Comments

  • sungod
    sungod Posts: 17,339
    yeah, i'm just waiting for the bad news when my renewal comes up in a few months, probably should start doing some research on where to switch to
    my bike - faster than god's and twice as shiny
  • danlikesbikes
    danlikesbikes Posts: 3,898
    Yep mine was reduced last year, went with direct line (not including the bikes) as cheaper & better cover than M&S could do and have the bikes covered with BC policy and seems pretty good.
    Pain hurts much less if its topped off with beating your mates to top of a climb.
  • Hoopdriver
    Hoopdriver Posts: 2,023
    Danlikesbikes wrote:
    Yep mine was reduced last year, went with direct line (not including the bikes) as cheaper & better cover than M&S could do and have the bikes covered with BC policy and seems pretty good.
    Sorry ... What's BC? I might use them too
    http://www.My-Bicycle-and-I.com
  • danlikesbikes
    danlikesbikes Posts: 3,898
    Hoopdriver wrote:
    Danlikesbikes wrote:
    Yep mine was reduced last year, went with direct line (not including the bikes) as cheaper & better cover than M&S could do and have the bikes covered with BC policy and seems pretty good.
    Sorry ... What's BC? I might use them too

    Thats OK couldn't be bothered to type the whole thing - https://www.britishcycling.org.uk/membe ... -insurance

    Though have to say that there are quite a few good stand alone policies out there that offer good cover, I looked at a few myself when considering & checked out their policy wordings for things like security requirements, cover whilst away from the home, cover on holiday & also any legal/Personal Accident cover they may give.
    Pain hurts much less if its topped off with beating your mates to top of a climb.
  • daviesee
    daviesee Posts: 6,386
    I was on the same policy and left renewal to the last minute thinking everything would be okay. I was wrong. :oops: :evil:
    It cost me an extra £100 for my 2 bikes which I had to stump up for as I was heading off to Mallorca. Well one anyway.

    Next year I will be doing my research well in advance.
    None of the above should be taken seriously, and certainly not personally.
  • sungod
    sungod Posts: 17,339
    i checked bc, but even as a gold member they want nearly 900 quid!

    maybe my postcode isn't a good one :cry:
    my bike - faster than god's and twice as shiny
  • Frank the tank
    Frank the tank Posts: 6,553
    Well, that's M&S getting the old "Spanish archer" then.
    Tail end Charlie

    The above post may contain traces of sarcasm or/and bullsh*t.
  • markmod
    markmod Posts: 501
    Damn... I thought the m and s insurance was one less thing to worry about. The BC insurance doesn't look like it's going to be an affordable option either.

    Any more idea gleaned from research anyone.
  • daviesee
    daviesee Posts: 6,386
    Frank the tank wrote:
    Well, that's M&S getting the old "Spanish archer" then.
    Alternative :?:
    None of the above should be taken seriously, and certainly not personally.
  • manglier
    manglier Posts: 1,275
    Spanish Archer - El Bow
  • de_sisti
    de_sisti Posts: 1,283
    I've had M & S household insurance for years; and when it came up for renewal, the price increase was only
    a modest amount (<£4 per month). I'm now paying about £34 per month. I priced up my exact same requirements
    with other insurance companies, but they were quoting over £50 per month. M & S will still insure my bikes, as
    before, with the upper limit not having been changed.
  • Hoopdriver
    Hoopdriver Posts: 2,023
    De Sisti wrote:
    I've had M & S household insurance for years; and when it came up for renewal, the price increase was only
    a modest amount (<£4 per month). I'm now paying about £34 per month. I priced up my exact same requirements
    with other insurance companies, but they were quoting over £50 per month. M & S will still insure my bikes, as
    before, with the upper limit not having been changed.
    You might want to check your policy more closely. The upper limit HAS changed, reduced from £4000 to £2000 per bike. If your bikes are below £2000 then, sure, you're fine. If they are over that amount then you might have problems.
    http://www.My-Bicycle-and-I.com
  • de_sisti
    de_sisti Posts: 1,283
    Hoopdriver wrote:
    [
    You might want to check your policy more closely. The upper limit HAS changed, reduced from £4000 to £2000 per bike. If your bikes are below £2000 then, sure, you're fine. If they are over that amount then you might have problems.
    Just checked, (I'm paying £36 per month :oops:). Policy document says:
    If you have contents cover we ask you to tell us about any item, set or collection that
    is worth £4,000 or more and these items will be listed on your Policy Schedule.

    I also recall discussing the matter with M & S staff at the time and they assured me that existing policyholders
    would not have their terms and conditions changed. The £2,000 limit was to apply individuals who took out
    new policies.
  • daviesee
    daviesee Posts: 6,386
    De Sisti wrote:
    Hoopdriver wrote:
    [
    You might want to check your policy more closely. The upper limit HAS changed, reduced from £4000 to £2000 per bike. If your bikes are below £2000 then, sure, you're fine. If they are over that amount then you might have problems.
    Just checked, (I'm paying £36 per month :oops:). Policy document says:
    If you have contents cover we ask you to tell us about any item, set or collection that
    is worth £4,000 or more and these items will be listed on your Policy Schedule.

    I also recall discussing the matter with M & S staff at the time and they assured me that existing policyholders
    would not have their terms and conditions changed. The £2,000 limit was to apply individuals who took out
    new policies.
    That was last years T&Cs, I was in the same boat until April this year. Your next renewal will be different but I don't know at what date the change over happened.
    None of the above should be taken seriously, and certainly not personally.
  • daviesee
    daviesee Posts: 6,386
    Manglier wrote:
    Spanish Archer - El Bow
    Yeah. I got that. Elbow in favour of what though?
    None of the above should be taken seriously, and certainly not personally.
  • Hoopdriver
    Hoopdriver Posts: 2,023
    De Sisti wrote:
    Hoopdriver wrote:
    [
    You might want to check your policy more closely. The upper limit HAS changed, reduced from £4000 to £2000 per bike. If your bikes are below £2000 then, sure, you're fine. If they are over that amount then you might have problems.
    Just checked, (I'm paying £36 per month :oops:). Policy document says:
    If you have contents cover we ask you to tell us about any item, set or collection that
    is worth £4,000 or more and these items will be listed on your Policy Schedule.

    I also recall discussing the matter with M & S staff at the time and they assured me that existing policyholders
    would not have their terms and conditions changed. The £2,000 limit was to apply individuals who took out
    new policies.
    Nope. They maintained that condition for a year but have changed it. I am on an old policy. Mine WAS £4000 but is now £2000. Your will be too when you go to renew it.
    http://www.My-Bicycle-and-I.com
  • socrates
    socrates Posts: 453
    Just had my quote from More Than.
    Contents covered for £75,000.
    Building covered for £400,000.
    Cannondale Evo value £3,500. - At home covered for £1,500 but away from the home covered for up to £5,000, theft and accidental damage on a new for old basis.
    £212.95 annual premium. Seems good. I have the dog insured with them for 2 years and even though she now requires constant medication they never increased the premium.
  • socrates
    socrates Posts: 453
    Forgot to say that cover for the bike is worldwide
  • markmod
    markmod Posts: 501
    Thanks Socrates that's a good heads up for a possible insurance company for any one currently with m and s and not renewing due to downgrade of cover. Cheers.
  • Hoopdriver
    Hoopdriver Posts: 2,023
    Yes, thanks. I'll check that out
    http://www.My-Bicycle-and-I.com

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