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Stolen Bike - Insurance Advice

japiersjapiers Posts: 17
edited April 2015 in Commuting general
Had a bike stolen this morning. It should be covered under my home insurance, however the excess is £250 and the bike is worth about £500.

Can anyone advise if it is worth claiming or would making a claim result in my premiums going up?


  • davisdavis Posts: 2,506
    Any time you make a claim for anything your premiums will go up, in all honesty. There's a question when you get a quote saying "Have you made a claim in the last five years?", so it'll affect you for more than five years, and probably by more than 50 quid a year (guess, depends on premiums and a whole bunch of stuff).

    By that maths, I'd swallow the loss. Sorry; insurance companies are scum.
    Sometimes parts break. Sometimes you crash. Sometimes it’s your fault.
  • The RookieThe Rookie Posts: 27,811
    Insurance companies may be scum, but the premium is based on risk and having a bike stolen means you are a higher risk that average, to put it another way, why should all those who don't make a claim pay the extra?
    Currently riding a Whyte T130C, X0 drivetrain, Magura Trail brakes converted to mixed wheel size (homebuilt wheels) with 140mm Fox 34 Rhythm and RP23 suspension. 12.2Kg.
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