5k bike insurance

jon1993

I have finally been able to treat myself to a shiny new evil insurgent but I want to get it insured for obvious reasons. Currently quotes are coming out at the 320 a year mark from home contents insurance and specialist bike insurers. I was wondering if there was any home contents insurance providers which would let you put expensive bikes on the insurance without bumping the premium too much.

Cheers in advance

Jon

JBA

Try John Lewis.
I have buildings, contents and named bikes insured with them and the cost of adding bikes is not too bad.

LimitedGarry

Unless you're really savvy in the field and have the time to acquire large enough field of reference, I'd strongly suggest to see a consultant, but not one that works for a specific company, but rather someone who can find you the best solution available among all the insurance companies. A lot of people ended up getting an insurance and only later discovered that it doesn't really work as they had hoped - usually when the actually needed it.

Getting an insurance exclusively for a specific thing (be it an expensive computer or a bike) is relatively steep, while having that covered under the same package that covers your household etc. is more economic.
Also, pay attention to the terms of the insurance. Some insurances may not cover bikes stolen outside of your household. Those which do may only cover bikes stolen between 7AM - 7PM (just an example). The insurance will require the bike to be "stolen", which means an obstacle has to be broken, be it bike lock, or your garage door. The problem with that may be when you lock your bike in front of a building and someone steals your bike as well as the broken lock (just giving an example, doubt you'll be locking your bike somewhere on the streets)
All in all, get an idea of what exactly you want to have covered under the insurance and discuss all of that with the consultant. For instance, damage in a crash is a very good thing to have covered as well.

If you maintain your bike properly, be it in the shop or at home, insist that you treat your bike as a set of components and accessories and can put a price each single component. If you don't do that and end up having the bike stolen two years later, they'll tell you that the value of the bike is much lower than it was when you bought it, despite the bike having some brand new components on it. You'll need to contact the insurance company about all the changes and upgrades tho. The logic there is that the insurance is supposed to help you to get an adequate replacement, not a brand new bike for the same initial buying price.

jon1993

That's brilliant thank you some really good points there that I have just never thought off, thanks both of you.

paul_the_pedaller

When I renewed the house / contents this time I went though all the gumph with the brokers including my bike, they added up all the high value items and came back with an AXA policy with a single item limit of £15k, cost me about £20 a year over a standard policy.

Flâneur

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