Home insurance that covers bikes

daniel_b

Hi there,

I used to insure with M&S as they had a very strong bike policy, but that was changed recently, and is no longer of much use.

We were about to take out a policy with Aviva, but they want to be notified of bikes worth more than £500 to replace, and will only cover up to a total combined value of £3000.

Putting 3 bikes on that come up to this total (Felt, CR1, Kona Minute) also raises the policy by £100 a year, around 80% more than the standard qoute.

What is frustrating, is that it covers us for when the bikes are away from home - thing is I am never going to leave any bike of substantial value, except the Minute, out and about and locked up, so it's use is minimal to me - I would rather go without.

Some highish value bikes will be in the garage, but the highest value bikes will still be kept in the house, so am not sure why they cannot just be treated as a normal high value item.

Anyway, enough of my ranting, can anyone recommend a decent policy that will cover multiple bikes, and give the option of not having to cover them when away from home?

Most of us must have a similar issue here, so who do you guys use to cover your bikes?

Cheers

Dan

The Real Radioactiveman

esure

£100 per year on top of my normal policy(£200) to insure £8500 of bikes

daniel_b

Thanks for the replt TRR, I was beginning to think no one insured their bikes!

I am having a look at ESure, it seems they want some evidential proof document dated within the last 3 years if your bike is worth more than £500.

Do you happen to know if this is the original purchase price, or what you deem the cost to replace it if you were to buy a new one today?
ie my Felt is 105 9spd equipped, Aluminium and Carbon frame, would I be looking at a similar spec bike brand new, and seeing how much a new Felt F70 would cost, or should I be factoring in depreciation?

Here's the other issue, in theory my CR1 once i build it up would cost me around 2K to replace, if not more, as the frame itself has an RRP of 2k, any idea how I would provide evidence of the value, other than an advert online?
It's total cost to me will be around £1350.

The Kona Minute I am awaiting delivery of has cost me £390, but would normally be £750, so any idea what would I do here...?
It's all pretty confusing :?
If it gets stolen, and it's brand new, there is no way I could get another one for £390, or would I just have to take it on the chin be re-imburnsed less excess and get a totally different bike?

The Real Radioactiveman

i just rang up told them the bikes and the value's and sent frame numbers

dont have receipts even for recent bikes but i can trace the purchases through online accounts ,should probably do an inventory of them with pictures at home and in use.

hugo15

I was in a similar position earlier in the year. I ended up going with More Than. Still not cheap but way cheaper than M&S.

ESure were cheaper than More Than but I wasn't convinced by the needs for receipts. They told me not having the receipts wasn't a problem when I enquired but I decided not to risk it with them.

gabriel959

Daniel B wrote:

Hi there,

I used to insure with M&S as they had a very strong bike policy, but that was changed recently, and is no longer of much use.

We were about to take out a policy with Aviva, but they want to be notified of bikes worth more than £500 to replace, and will only cover up to a total combined value of £3000.

Putting 3 bikes on that come up to this total (Felt, CR1, Kona Minute) also raises the policy by £100 a year, around 80% more than the standard qoute.

What is frustrating, is that it covers us for when the bikes are away from home - thing is I am never going to leave any bike of substantial value, except the Minute, out and about and locked up, so it's use is minimal to me - I would rather go without.

Some highish value bikes will be in the garage, but the highest value bikes will still be kept in the house, so am not sure why they cannot just be treated as a normal high value item.

Anyway, enough of my ranting, can anyone recommend a decent policy that will cover multiple bikes, and give the option of not having to cover them when away from home?

Most of us must have a similar issue here, so who do you guys use to cover your bikes?

Cheers

Dan

Strange. My Aviva insurance covers me up for a maximum of £2500 per cycle. I didn't have to give them any details about my bikes or anything, and when I spoke to them he mentioned that if I had an accident with one of the bikes or if it got stolen then I would need to give them a call, provide them with details of the bike and then if the claim was valid they would pay the correct amount minus the excess.

smidsy

I went with Hastings Direct. Just need to list bikes . Job done.

mechanism

I'm very lazy when it comes to things like insurance so I'm in no way recommending their cover, but this is the Direct Line standard policy:



http://www.directline.com/home-insurance/summary/standard-table.htm

Cover away from the home is available as an add on or with the Home Insurance Plus policy.

http://www.directline.com/home-insurance/extras/bicycle-cover.htm

daniel_b

Thankyou gents,

some very useful stuff I will be looking into going forwards - bizarre re Aviva, perhaps they have changed their policy recently.

I'm sure this should be pretty simple, shame they do not seem to make it so.

gabriel959

Daniel B wrote:

Thankyou gents,

some very useful stuff I will be looking into going forwards - bizarre re Aviva, perhaps they have changed their policy recently.

I'm sure this should be pretty simple, shame they do not seem to make it so.

I only got my cover back at the end of July and double checked and gave them a call and they assured me it was like that for new customers too. No mention of the 3k limit anywhere on their website too! Did you speak to them?

gabriel959

Mechanism wrote:

I'm very lazy when it comes to things like insurance so I'm in no way recommending their cover, but this is the Direct Line standard policy:



http://www.directline.com/home-insurance/summary/standard-table.htm

Cover away from the home is available as an add on or with the Home Insurance Plus policy.

http://www.directline.com/home-insurance/extras/bicycle-cover.htm

It is ok if you don't have a bike valued at anything above £2k. It is ok if you only care about insuring the bike at home, and then they will cover the full amount. But the cycle cover for damage and away from home only covers up to £1000 as per their policy. If you give them a call they can add your bike for an extra fee but only up to £2k per cycle. This was confirmed by one of their agents.