Cycle Insurance
rickeverett
Posts: 988
Whats the stance on insuring your bike? Theft Only? - Liability Only? or Both?
I'm thinking of going with British Cycling membership that has liability insurance cover only but they don't seem to give a price for the Theft etc until you sign up which makes me wonder what price I will actually end up paying.
So far my other quotes have been around £100 -120 for theft and liability. British Cycling is £28 standard - would the extra theft insurance be less than £90??
I'm thinking of going with British Cycling membership that has liability insurance cover only but they don't seem to give a price for the Theft etc until you sign up which makes me wonder what price I will actually end up paying.
So far my other quotes have been around £100 -120 for theft and liability. British Cycling is £28 standard - would the extra theft insurance be less than £90??
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Comments
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This year was the first time I'd bothered insuring bikes for being out and about. I quoted them on protectyourbubble and it was going to cost a total of £780 for these two bikes for the year so that theft, accidents etc were covered when out and about. Adding them to house contents insurance instead (for the equivalent, being insured out of the home) cost me an extra £160 for the year. ...of course, if you don't want to insure them 'out of the house' they probably are covered by your house contents insurance when at home if it's all you need. Always ask the questions so you're clear what you're covered for and look through the terms.
BC Membership is good as the third party side of things is good, it's cheap, and even if you just use the Halfords % off a few times for when you want to buy a Sub for your Y-reg Vauxhall Corsa you can claw the cost back. Also BC membership means you can get through to someone who'll advise you what to do if you have an accident.
If you use the Search all this kind of stuff has been discussed and discussed.0 -
Check with your house insurance company before signing up to BC if you're only signing up to get liability insurance.
A lot of house insurance policies give you some public liability insurance. Some of the better insurers give you cover as standard for a wide range of activities. We're with Hiscox and found out this year that my hubby had needlessly been paying out £30 a year for golf insurance (liability insurance in case he smacks someone on the head with a golf ball), as we're covered!
We have public liability insurance up to either £5m or £10m (can't remember which) and both golf and cycling are included.
Hiscox also cover bikes up to £2,500 in value each as standard (worldwide, all risks cover). Only downside is their standard policy excesses are high. Our home insurance excess for any type of claim is £500 and my bike only costs £650 new (though if it gets nicked it has various accessories attached to it, and they'd have destroyed my high-end D-lock, so total value probably about £850).0 -
pinkteapot wrote:Check with your house insurance company before signing up to BC if you're only signing up to get liability insurance.
A lot of house insurance policies give you some public liability insurance. Some of the better insurers give you cover as standard for a wide range of activities. We're with Hiscox and found out this year that my hubby had needlessly been paying out £30 a year for golf insurance (liability insurance in case he smacks someone on the head with a golf ball), as we're covered!
We have public liability insurance up to either £5m or £10m (can't remember which) and both golf and cycling are included.
Hiscox also cover bikes up to £2,500 in value each as standard (worldwide, all risks cover). Only downside is their standard policy excesses are high. Our home insurance excess for any type of claim is £500 and my bike only costs £650 new (though if it gets nicked it has various accessories attached to it, and they'd have destroyed my high-end D-lock, so total value probably about £850).
You're my ideal kind of client. Let's talk when your renewal is due! With those excess levels, are you on the 606 contract?0
