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For me an investment.. Insurance advice

Dazza @>@'Dazza @>@' Posts: 65
edited September 2013 in Road beginners
I have just purchased in my payscale an expensive bike £1200 I dread it being damaged by other idiots. Is there an insurance which covers all my fears i.e everything?

Posts

  • ct8282ct8282 Posts: 414
    Yes there will be, but it will be expensive.

    I would talk to your home insurance provider. Most will cover theft, damage etc up to £1500 for bikes which may add some to your premium every month, but a proper bike insurance policy will be expensive.

    Google bike insurance I suppose....
  • marcusjbmarcusjb Posts: 2,412
    As above.

    You can insure pretty much anything for any eventuality. You are placing a bet with an insurer, and they control the odds.

    So if you want every eventuality covering, someone will cover that for you, but charge you a considerable sum for doing that.

    Other idiots don't worry me too much with my bikes. It is the idiot on the saddle that is more likely to damage them!
  • GizmodoGizmodo Posts: 1,928
    Dazza @>@' wrote:
    I have just purchased in my payscale an expensive bike £1200 I dread it being damaged by other idiots. Is there an insurance which covers all my fears i.e everything?
    What sort of riding are you doing that you fear damage by others? I've ridden for 2 years, covered 10,000+ miles including riding often with groups on both club runs and sportives - I have never had my bike damaged by the actions of others.

    On what basis is your fear based?
  • Mikey23Mikey23 Posts: 5,306
    Home contents will do it for most forseeable issues for pennies. Mine is worth 2k and is a named item for a few pounds more. British cycling membership covers me for third party liability due to my own stupidity. Not sure you can insure against everything, getting up in the morning is a risk. I suspect that if you did, the premiums would be about ....£1200
  • Cheers folks,
    I am very observant on the road, I ride country lanes in the main 2-3 times a weeks so far upto 40 miles. I dread someone hitting me and ruining my pride and JOY then failing to stop
  • andyh01andyh01 Posts: 571
    If someone else is at fault ie they cause damage to you/your property they'll be liable, especially if whilst using a motor vehicle as it be covered under the RTA, if another cyclist crashed into you their fault they be liable, you'll be able to take civil action then your home insurance may provide you with legal aid and/or deal with the claim on you're behalf including they'll pay you for the dameges and recover from the other party and their home content may cover the liability may provide indeminity. The advantage of having specfic bike insurance is it may provide accidental damage cover ie if YOU cause damage to YOUR OWN property, and ok you may get a quicker payout as the insurer will have to indemify you before subrograting their claim ie making a recovery from the at fault party who will ultimatly pay for the dsamage/liability they caused.
  • cougiecougie Posts: 22,512
    I don't think that's a risk worth worrying about to be honest. Ride sensibly. Have lights. Wear bright kit.
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