Bike Insurance & British Cycling??

PT_in_BRAcKNELL

Hi guys,

Some time ago I opened a thread about the bike that I should buy... As I mentioned in the thread I have selected a Cannondale Flash 29er Alloy 2, which I will be collecting this Saturday.

Now, I am looking to get a bike insurance, do any of you have any experience with insurances?

Also I have looked into British Cycling memberships and it seems that the gold membership has good benefits, WDT?


Thanks and cheers to all!

ajlowin1983

Cycle guard insurance is good. However, you can only ensure 2 bikes per policy and I think the 0% excess has been scrapped.

Time.to.ride

I use JLT Online which is linked to Evans cycles, i pay £28 pm and i get full cover inc overseas. Kinda a bikes version of a cars fully comp

PT_in_BRAcKNELL

ajlowin1983 wrote:

Cycle guard insurance is good. However, you can only ensure 2 bikes per policy and I think the 0% excess has been scrapped.

Yes it's true, I've been investigating the different insurances and Cycle Guard is one of the cheapest, in fact the Cycle Scheme participants have a 10% discount…

I am inclined to use that, however before I subscribe it, I would like to know how British Cycling works in regards to insurances... :roll:

Time.to.ride wrote:

I use JLT Online which is linked to Evans cycles, i pay £28 pm and i get full cover inc overseas. Kinda a bikes version of a cars fully comp

Thanks Time.to.ride, however you'll find the same type of cover at half price in the majority of the insurance companies... At least that's what I've been finding out! 8)

On the other hand, does anyone have British Cycling membership experience? :?:


Thanks and cheers!

cooldad

Time.to.ride wrote:

I use JLT Online which is linked to Evans cycles, i pay £28 pm and i get full cover inc overseas. Kinda a bikes version of a cars fully comp

I pay less than that for my kind of a car version of a car's fully comp.

njee20

Get them on your home contents insurance. Standalone policies are usually a total rip off

PT_in_BRAcKNELL

njee20 wrote:

Get them on your home contents insurance. Standalone policies are usually a total rip off

I understand your point, however I also want some extra covers over and above theft, i.e. I also want Public Liability cover (3rd party insurance), personal accident insurance, and EU and worldwide cover.

So that is why I am also asking about the British Cycling – http://www.britishcycling.org.uk/member ... membership

Cheers!

cooldad

Only problem is you seem to have to join before you can see what discount you're getting off what rates etc.

PT_in_BRAcKNELL

cooldad wrote:

Only problem is you seem to have to join before you can see what discount you're getting off what rates etc.

No, there is a page with their insurance quotes (it is guiven by Cycle guard), see this: http://www.britishcyclingbikeinsurance.co.uk/

Nevertheless I've sent an email asking more details, once I receive it I will post the conditions...

Time.to.ride

PT_in_BRAcKNELL wrote:

njee20 wrote:

Get them on your home contents insurance. Standalone policies are usually a total rip off

I understand your point, however I also want some extra covers over and above theft, i.e. I also want Public Liability cover (3rd party insurance), personal accident insurance, and EU and worldwide cover.

So that is why I am also asking about the British Cycling – http://www.britishcycling.org.uk/member ... membership

Cheers!

But you see my insurance covers me for all the things you need in yours, and finding a house insurer to cover that is great, rare but great if you find one!

cooldad you may well do mate but i went to a cycle insurer as putting my bike on the house insurance sent the excess and the monthly amount higher than i wanted because i was asking for cover of the bike as is and not just new for old seeing as alot of my parts are dearer or better quality than i would get on a standard new bike, and as they don't sell mine anymore i would have to find one with equal spec and that would mean upping the price of a new bike, so i set the amount of cover required and that is what i will get back.
Plus they didn't offer me the extra covers as mentioned above..

Time.to.ride

njee20 wrote:

Get them on your home contents insurance. Standalone policies are usually a total rip off

njee20 as i just said mate if you can get a house insurer to cover everything you need then top banana but that is rare, and they will charge you for the type of cover want if you have over a certain value or specific demands on what you want covered? If you are not bothered though with finer detail then yeah house cover is cool

cooldad

I don't insure any bikes. They live in my flat, are on my car or are under my butt.

The Northern Monkey

Both bikes are on my house insurance which is £20 a month.

Time.to.ride

The Northern Monkey wrote:

Both bikes are on my house insurance which is £20 a month.

Blimey mate that is cheap

PT_in_BRAcKNELL

cooldad wrote:

I don't insure any bikes. They live in my flat, are on my car or are under my butt.

Yeah, you are probably right, with me will be the same. However it is always good to have 3rd party liability insurance, personal injuries and legal protection/advice as you ride on the street (I assume), and within my search the British Cycling is the cheapest one to offer that (£66 a year)!

dashik

I just renewed my policy with British cycling over Cycle guard this year. The only thing I've not got now is the get you home recovery and to be fair it sucked the one time I had to use it and I ended up in a taxi van anyway. So I saved £50 and went with BC.

As for the personal injury cover with Cycle guard or BC its not really worth it IMO. It only pays £5k or so and then only if your totally quadriplegic or completely blind etc. There are better stand alone personal injury policies I'm sure. Also god forbid but if I have an accident that's that bad then Its going to involve a bus or lorry and hopefully they will have a decent policy......

njee20

njee20 as i just said mate if you can get a house insurer to cover everything you need then top banana but that is rare, and they will charge you for the type of cover want if you have over a certain value or specific demands on what you want covered? If you are not bothered though with finer detail then yeah house cover is cool

Err, you replied to my post twice... And dismissed the home insurance after my suggestion. :?

I'm a BC (Race Gold) member, I did a quote using CycleGuard and they wanted £700 a year for my MTB alone, and plenty of fine print to comply with.

Meanwhile, I've got £4k cover per bike, new for old, covered away from home with no stipulations on storage location for £15 a month on my home insurance. But yeah, house cover is rubbish :roll:

You'll generally get the third party insurance on your home insurance anyway. If not, get a ride membership with BC, and look at your home insurance.

PT_in_BRAcKNELL

njee20 wrote:

njee20 as i just said mate if you can get a house insurer to cover everything you need then top banana but that is rare, and they will charge you for the type of cover want if you have over a certain value or specific demands on what you want covered? If you are not bothered though with finer detail then yeah house cover is cool

Err, you replied to my post twice... And dismissed the home insurance after my suggestion. :?

I'm a BC (Race Gold) member, I did a quote using CycleGuard and they wanted £700 a year for my MTB alone, and plenty of fine print to comply with.

Meanwhile, I've got £4k cover per bike, new for old, covered away from home with no stipulations on storage location for £15 a month on my home insurance. But yeah, house cover is rubbish :roll:

You'll generally get the third party insurance on your home insurance anyway. If not, get a ride membership with BC, and look at your home insurance.

I didn’t mate… The problem is that I’ve already have home insurance and the renewal will be in June next year, on top of this I am not sure how to add the bike or even what it will cover.

On the second hand, £700 a year seems almost unreal… as I get quotes of £157 a year on CycleGuard…

Anyway I thank you for your suggestion (a lot) and next year I will look into that scenario, in the mean time I am inclined to get the gold membership on BC (I am only waiting for an email from them).

Cheers!

cooldad

PT_in_BRAcKNELL wrote:

The problem is that I’ve already have home insurance and the renewal will be in June next year, on top of this I am not sure how to add the bike or even what it will cover.

Er maybe ask them, and actually read your policy.

njee20

That's an idea!

Standalone policies are directly proportional to the cost of the bike. Expensive bike = huge premium. Then you have the issues around needing to insure each bike individually.

I'd self insure rather than use a standalone policy! Unless you get your bike nicked regularly.

PT_in_BRAcKNELL

cooldad wrote:

Er maybe ask them, and actually read your policy.

True…

njee20 wrote:

I'd self insure rather than use a standalone policy! Unless you get your bike nicked regularly.

Hope not... :?

Well I will investigate the home policy... But honestly I don’t think that it will have the 3rd party liability and legal protection on it!

Cheers!

cooldad

I think you are wrong, but if you actually read it you'll find out.

I mean FFS you pay for something and have no idea what it is?

PT_in_BRAcKNELL

cooldad wrote:

I think you are wrong, but if you actually read it you'll find out.

I mean FFS you pay for something and have no idea what it is?

No, I knew the basics... i.e. content coverage, house damage by water, fire, etc., theft, etc.. But, now you made me read the policy!

Well the insurance among other things just covers bikes up to £400… And unfortunately as I suspected it doesn’t have any 3rd party liability cover neither legal support!

So it’s worthless from this discussion standpoint, and I still need to look into some 3rd party liability cover and legal support... :roll:

njee20

Which company? Very rare you don't have 3rd party liability.

PT_in_BRAcKNELL

njee20 wrote:

Which company? Very rare you don't have 3rd party liability.

Commercial Express... and it's true doesn't have 3rd Party liability outside what is related to the occupancy of the house!

cooldad

Sounds really sh1t. At a guess I'd say sold to you by the estate agent/landlord.
Kerching.

njee20

Do you rent? Their only relevant product appears to be tenants contents?

Weird company to have gone with, a) they appear to be commercial rather than personal lines - designed for brokers, rather than end customers, and b) they are a Managing General Agency - do your policy documents say who they're underwritten by? I suspect it's another company. They basically have the authority to write business for other insurance companies.

Either way, very odd choice. Check out Marks & Spencer when you renew (or just cancel now, you'll probably save more than going down the CycleGuard route), if you still want the additional protection then join BC. You'll need to declare bikes to M&S over £1000, but they'll probably still be cheaper.