Bike insurance

Stormtrooper

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

pblakeney

I would suggest using the search function.
But that would be pointless.

gazman428

Ive gone with cycle plan, its 200 an odd quid but my home insurance wouldnt cover my bike and im also covered if i plow into anything on or off road to 2 million.

kingrollo

[url=http://www.bikeradar.com/forums/viewtopic.php?p=19782933#p19782933]Stormtrooper[/url] wrote:

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

I always come to the conclusions its not worth it. Your basic house insurance will cover it from being nicked - but only up to around £500
You can specify it as a single item - but that bumps your premium up
As previous poster said its probably £200 to cover it against all risks - then in the even of a claim - there is probably excess. So you insure it for say 4 years...that £800 - a big chunk towards a new bike.....

rafregt1

+1 for cycle plan.
I can't praise them enough after a recent off.
No fuss regarding getting the bike repaired and paying out.
I have had previous experience with other companies and they were shocking..

dstev55

kingrollo wrote:

[url=http://www.bikeradar.com/forums/viewtopic.php?p=19782933#p19782933]Stormtrooper[/url] wrote:

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

I always come to the conclusions its not worth it. Your basic house insurance will cover it from being nicked - but only up to around £500
You can specify it as a single item - but that bumps your premium up
As previous poster said its probably £200 to cover it against all risks - then in the even of a claim - there is probably excess. So you insure it for say 4 years...that £800 - a big chunk towards a new bike.....

What happens if you hit a car and it's your fault?
What happens if you have a crash and total your bike?
What happens if you seriously injure yourself and can't work?

Just some of the situations I wouldn't like to be in without insurance. Most non public liability claims are no more than £100-£150 excess on bikes worth a few thousand and less on cheaper bikes.

kingrollo

dstev55 wrote:

kingrollo wrote:

[url=http://www.bikeradar.com/forums/viewtopic.php?p=19782933#p19782933]Stormtrooper[/url] wrote:

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

I always come to the conclusions its not worth it. Your basic house insurance will cover it from being nicked - but only up to around £500
You can specify it as a single item - but that bumps your premium up
As previous poster said its probably £200 to cover it against all risks - then in the even of a claim - there is probably excess. So you insure it for say 4 years...that £800 - a big chunk towards a new bike.....

What happens if you hit a car and it's your fault?
What happens if you have a crash and total your bike?
What happens if you seriously injure yourself and can't work?

Just some of the situations I wouldn't like to be in without insurance. Most non public liability claims are no more than £100-£150 excess on bikes worth a few thousand and less on cheaper bikes.

key word is if.........

how much damage will you do a car -
total your bike ? you buy a £300 one and save up for a new one?
injured and can't work ? - wot you have insurance that covers all your outgoings indefintley if that happens ? (actually my pension would probably be paid early).......check your small print.....

dstev55

kingrollo wrote:

dstev55 wrote:

kingrollo wrote:

[url=http://www.bikeradar.com/forums/viewtopic.php?p=19782933#p19782933]Stormtrooper[/url] wrote:

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

I always come to the conclusions its not worth it. Your basic house insurance will cover it from being nicked - but only up to around £500
You can specify it as a single item - but that bumps your premium up
As previous poster said its probably £200 to cover it against all risks - then in the even of a claim - there is probably excess. So you insure it for say 4 years...that £800 - a big chunk towards a new bike.....

What happens if you hit a car and it's your fault?
What happens if you have a crash and total your bike?
What happens if you seriously injure yourself and can't work?

Just some of the situations I wouldn't like to be in without insurance. Most non public liability claims are no more than £100-£150 excess on bikes worth a few thousand and less on cheaper bikes.

key word is if.........

how much damage will you do a car -
total your bike ? you buy a £300 one and save up for a new one?
injured and can't work ? - wot you have insurance that covers all your outgoings indefintley if that happens ? (actually my pension would probably be paid early).......check your small print.....

It depends on the policy but some cover loss of earnings. And why would I want to buy a £300 bike if I write off a £3000 bike and them have to save up for a new one? That's the whole point of insurance, so you are not significantly out of pocket in situations like that. It certainly gives me peace of mind too, the last thing I want to do is damage someone else's property and have a claim coming at me personally.

kingrollo

dstev55 wrote:

kingrollo wrote:

dstev55 wrote:

kingrollo wrote:

[url=http://www.bikeradar.com/forums/viewtopic.php?p=19782933#p19782933]Stormtrooper[/url] wrote:

I'm picking my new bike up the weekend and as it is costing an arm and a leg I'd Iike to get it insured.

I've already done a search on here but I'm starting to get fed up of trolling through loads of pointless posts.

Please could someone point me in the right direction.

I always come to the conclusions its not worth it. Your basic house insurance will cover it from being nicked - but only up to around £500
You can specify it as a single item - but that bumps your premium up
As previous poster said its probably £200 to cover it against all risks - then in the even of a claim - there is probably excess. So you insure it for say 4 years...that £800 - a big chunk towards a new bike.....

What happens if you hit a car and it's your fault?
What happens if you have a crash and total your bike?
What happens if you seriously injure yourself and can't work?

Just some of the situations I wouldn't like to be in without insurance. Most non public liability claims are no more than £100-£150 excess on bikes worth a few thousand and less on cheaper bikes.

key word is if.........

how much damage will you do a car -
total your bike ? you buy a £300 one and save up for a new one?
injured and can't work ? - wot you have insurance that covers all your outgoings indefintley if that happens ? (actually my pension would probably be paid early).......check your small print.....

It depends on the policy but some cover loss of earnings. And why would I want to buy a £300 bike if I write off a £3000 bike and them have to save up for a new one? That's the whole point of insurance, so you are not significantly out of pocket in situations like that. It certainly gives me peace of mind too, the last thing I want to do is damage someone else's property and have a claim coming at me personally.

How do you total a bike sure - sure frame \ forks \ wheels - one those could get damaged in an accident - but the whole lot ? - unlikely - you might be replacing a £1500 frame - at worse.

Some policies have loss of earnings - but these are time limited - usually 12 months - and some have a kick in period - ie they don't pay for the first 3 months....what your existing cover at work - I get paid for the first 6 months then half pay after that......

Your call - I just think £200 a year (my car insurance is cheaper) is to much - considering the probability - and future costs ......I just stick stick £200 a year into a savings account - 4/5 years your closing in on a grand !

dstev55

Peace of mind for me. At the end of the day the probability of you getting more back than you pay in is always going to be low otherwise insurers would be out of business.

I'm also guessing you're probably more likely to need to use Bike Insurance more often than car.

nochekmate

Give Darren @ Pedalcover a call.

Prior to my son and I taking our bikes to the US for a triathlon event, we were looking for bike insurance. Finished up taking out house contents insurance with them (about £340 as I recall). This covered ALL of the bikes in my household (unnamed & we've got a fair few) for theft and accidental damage racing/training etc - also covers all my other triathlon gear. Also got a week's free health insurance cover for the above event. I'm paying more for the contents cover but not significantly more considering the cover that we've got. I think I've accepted a £300 excess to reduce the cost, insuring an excess payment took it up to somewhere closer to £400 I think.

ic.

PedalSure!! Best prices and personal cover too

kingrollo

dstev55 wrote:

Peace of mind for me. At the end of the day the probability of you getting more back than you pay in is always going to be low otherwise insurers would be out of business.

I'm also guessing you're probably more likely to need to use Bike Insurance more often than car.

How do you work that one out ?

Most of the time in a car - your do 30 mph plus - you hit something it causes damages

Whilst you can hit 30 mph on a bike that tends to be for a very short space of time (well it is for me !)

As the previous poster has said - you're covering a low risk for a high cost, or else there wouldn't be insurance companies.
Apart from theft the doomsday scenario is imo very unlikely -

Myster101

Try Sheilas Wheels, I have building and contents insurance with them which also covers my bike (worth close to £3000). Bike only had to be in a locked building/outhouse so covered when in my locked garage. Also covered when locked in, or on my car. Around £200 for the policy.

dstev55

kingrollo wrote:

dstev55 wrote:

Peace of mind for me. At the end of the day the probability of you getting more back than you pay in is always going to be low otherwise insurers would be out of business.

I'm also guessing you're probably more likely to need to use Bike Insurance more often than car.

How do you work that one out ?

Most of the time in a car - your do 30 mph plus - you hit something it causes damages

Whilst you can hit 30 mph on a bike that tends to be for a very short space of time (well it is for me !)

As the previous poster has said - you're covering a low risk for a high cost, or else there wouldn't be insurance companies.
Apart from theft the doomsday scenario is imo very unlikely -

Didn't realise you had to be doing 30mph on a bike to damage something, someone, yourself or your bike???

I'd better cancel my insurance now because as you rightly say, I only hit 30mph for a fraction of my time on a bike....

stoveman

loooking into insurance myself,and came across a company called Bikemo,seems like a good amount of cover and a fair bit cheaper than the bigger names.
Just wondered if anybody had used them before? and if so,were they any good?

Phil

Grill

kingrollo wrote:

dstev55 wrote:

Peace of mind for me. At the end of the day the probability of you getting more back than you pay in is always going to be low otherwise insurers would be out of business.

I'm also guessing you're probably more likely to need to use Bike Insurance more often than car.

How do you work that one out ?

Most of the time in a car - your do 30 mph plus - you hit something it causes damages

Whilst you can hit 30 mph on a bike that tends to be for a very short space of time (well it is for me !)

As the previous poster has said - you're covering a low risk for a high cost, or else there wouldn't be insurance companies.
Apart from theft the doomsday scenario is imo very unlikely -

You have no idea what you're talking about. Just because your scenario isn't one that requires insurance, doesn't meant hat everyone else is in the same boat. I've had two frames destroyed by airlines (in hard cases to boot) and insurance saved me a lot of money. If anything happened to my Plasma, English or BMC I would be out a massive amount. Yes my bike insurance is more than my car insurance, but then again my car is worth less than the bars on my TT bike, so that makes perfect sense.

kingrollo

Grill wrote:

kingrollo wrote:

dstev55 wrote:

Peace of mind for me. At the end of the day the probability of you getting more back than you pay in is always going to be low otherwise insurers would be out of business.

I'm also guessing you're probably more likely to need to use Bike Insurance more often than car.

How do you work that one out ?

Most of the time in a car - your do 30 mph plus - you hit something it causes damages

Whilst you can hit 30 mph on a bike that tends to be for a very short space of time (well it is for me !)

As the previous poster has said - you're covering a low risk for a high cost, or else there wouldn't be insurance companies.
Apart from theft the doomsday scenario is imo very unlikely -

You have no idea what you're talking about. Just because your scenario isn't one that requires insurance, doesn't meant hat everyone else is in the same boat. I've had two frames destroyed by airlines (in hard cases to boot) and insurance saved me a lot of money. If anything happened to my Plasma, English or BMC I would be out a massive amount. Yes my bike insurance is more than my car insurance, but then again my car is worth less than the bars on my TT bike, so that makes perfect sense.

Would your travel insurance not have covered that ?

I said in my very early post - that '*in my experience*' its not worth it. I don't ever recall saying its pointless for everyone.

My main gripes are:-

1.Its pretty expensive ..obviously this is dependent of the bike you buy. My last bike was £1800 - I don't race, its locked in a garage when not in use - I have limited cover with my household insurance. I tend to keep my bike a while - £200 a year is a lot imo.

2.The insurance isn't always what it seems - I wonder how people think they are fully insured when all they have is 3rd party liability insurance (anything you hit)

3.You may be doubling up - you household may cover your bike, your employer may pay you wages if your off sick...the legal helplines are often nothing more than could be found on the web. - You wheels may come with crash protection...etc.....

Grill

No, and if it did it wouldn't have been close to the amount claimed (reimbursement for damage in transit is one of the more difficult areas in which to attain coverage). If anything did happen to my bikes whist travelling (and I travel with them a lot) be it fire, theft, accident (at fault or otherwise), there isn't a travel insurance company in business that would cover me the the 6-12k necessary for replacement for a reasonable fee.

Like I said, just because it's not for you doesn't mean it's a waste of money. Insurance is for peace of mind for those incidents you can neither predict nor control.

Martin bikeradar

Yep bikmo (bikemo) I found excellent. Down to earth and cyclists. Seem very happy to chat and explain the options.