Bike Insurance

BloggingFit

For those that are insuring their bikes are you adding to contents depending on your policy or taking out a specific one for your bike?

njee20

Mine are all on home contents.

Long_Time_Lurker

On home contents, but are indivdually listed on the insurance policy as they are worth over £1k.

whitey161

Got seperate insurance. It's not just for theft but for accidental damage. I buckled my fornt wheel and cracked the frame in a crash on an old bike on a descent. Insurance paid out £1300 and this allowed me to build a new bike. Without the insurance i would have been out of pocket and not able to replace the bike. Its not cheap at about £30 a month but insures £4k worth of bikes and has paid for itself for years already anyway.

njee20

House insurance can cover accidental damage too, worth looking at.

CitizenLee

njee20 & Long Time Lurker - Who do you use for your home insurance?

Whitey161 - What about yourself? Who do you use to insure your bikes separately?

njee20

I use M&S, but their terms for new customers aren't as good any more. Try DirectLine Select, or Nationwide.

CitizenLee

Thanks bud, M&S were one of the ones I was considering but as you say, their terms didn't seem ideal. Aviva looked the best last time I checked, but I'll look into the others too

I'm currently with Lloyds, although my banking has switched back to TSB since the split so I'm not sure what the deal is with the insurance now.

njee20

Aviva have a £2k limit on individual bikes if they're stored in the house, and a cumulative £2500 limit on all contents stored in outbuildings.

CitizenLee

Ah, thanks for that. They're in a secured basement so that would cover my Mega, but not my BMX and gf's bike.

Another quick question, I built the Mega from the ground up, using mostly new parts but the frame was used so no receipt other than bank transfer details. Would that affect my ability to make a claim? Do you need to prove ownership, I mean I have plenty of photos and stuff but no invoice to say the bike cost X amount from X retailer.

Cheers

njee20

Photos good, some insurers will want a valuation from a bike shop, which they may or may not charge for.

lm_trek

Had mine on a separate poilcy last 2 years, today i managed to put them on the home contents. Compare the meerkat although you to enter bikes and value, then you get the quotes job done.

I went with bradford and bingley low home cotents but bikes fully covered home and away, plus free meerkat in the post!

CitizenLee

Cheers guys, I'm going to trying and get something sorted this weekend. Will reply back once I've decided

rapid_donkey

Ive just renewed with AA. They cover single items up to £1500 inside the home (my bikes live in the spare room) and theres a maximum payout for £3000 for outbuildings. You can add specific items to your policy if your bike is worth more.
I also got a years free AA breakdown cover with my policy.

gazman428

Home insurance for my two road bikes and my cube mtb, my new nukeproof has its own policy as my home insurance wont cover anything over 2.5k

feemackenzie

Thoughts and advice. When you say you have a separate policy for the bike who have you taken it out with?

Myster101

Separate policy was expensive when I was looking. Managed to get mine included with my house insurance for not much more than I was already paying. That covers £2500 worth of bike at home and away so long as it's locked in an out building (garage, shed etc) or locked in, or on, my car when out and about. Some policies ask for it to be locked at home using Sold Secure Gold rated locks and ground anchors (depending on price of bike) which can be an extra cost.

Briggo

njee20 wrote:

Aviva have a £2k limit on individual bikes if they're stored in the house, and a cumulative £2500 limit on all contents stored in outbuildings.

It's not a cumulative £2500, it's an individual limit of £2500 and that limit applies except where -

theft unless the cycle is:
– in your immediate custody and control;
– securely locked to an object that
cannot be moved;
– in a locked building;

Taken from my schedule -

Personal Belongings - Pedal Cycles Individual cycle limit £2,500

It's insured if in the house, shed, garage etc etc.

To note as well, Aviva only cover up to £1500 per bike if the bikes are stored inside a locked car, however if they are locked to an external carrier (not just the carriers lock, a seperate lock and not those ones that sit on the rear, ones that lock to the car roof rack or tow bar) then they're deemed as 'secured to an object that cannot be moved' and insured for the max £2500 per bike.

All checked and clarified over the phone, and ensured clearly noted on my policy I had the conversation so no arguments.

I pay around £50 extra to have this cover (full accidental damage as well, only not covered in races etc), their T&Cs haven't changed.

CitizenLee

Myster101 wrote:

Separate policy was expensive when I was looking. Managed to get mine included with my house insurance for not much more than I was already paying. That covers £2500 worth of bike at home and away so long as it's locked in an out building (garage, shed etc) or locked in, or on, my car when out and about. Some policies ask for it to be locked at home using Sold Secure Gold rated locks and ground anchors (depending on price of bike) which can be an extra cost.

Who are you with mate?

Briggo wrote:

njee20 wrote:

Aviva have a £2k limit on individual bikes if they're stored in the house, and a cumulative £2500 limit on all contents stored in outbuildings.

It's not a cumulative £2500, it's an individual limit of £2500 and that limit applies except where -

theft unless the cycle is:
– in your immediate custody and control;
– securely locked to an object that
cannot be moved;
– in a locked building;

Taken from my schedule -

Personal Belongings - Pedal Cycles Individual cycle limit £2,500

It's insured if in the house, shed, garage etc etc.

To note as well, Aviva only cover up to £1500 per bike if the bikes are stored inside a locked car, however if they are locked to an external carrier (not just the carriers lock, a seperate lock and not those ones that sit on the rear, ones that lock to the car roof rack or tow bar) then they're deemed as 'secured to an object that cannot be moved' and insured for the max £2500 per bike.

All checked and clarified over the phone, and ensured clearly noted on my policy I had the conversation so no arguments.

I pay around £50 extra to have this cover (full accidental damage as well, only not covered in races etc), their T&Cs haven't changed.

Did Aviva mention anything about using specific types of locks or ground anchors etc?

Ta

arran77

On the home insurance with John Lewis - very good.

Briggo

CitizenLee wrote:

Did Aviva mention anything about using specific types of locks or ground anchors etc?

Ta

No need for ground anchors etc, if its locked in a building that suffices.

In terms of locking the bike to an immovable object, it'll help your case if you are using a secure gold/silver type lock depending on the value of your bike, but no stipulations were made when I asked.

ricardo_smooth

NFU mutual. Only place that would cover the Nomad for the actual value at a reasonable price