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Insurance

si.brownsi.brown Posts: 39
edited October 2017 in Road buying advice
With a new Canyon arriving on Monday I'm in the market for insurance. My buildings/contents provider is worse than useless when it comes to bikes so I'm looking at specialist providers.

So far it's between Velosure and CyclePlan as they're the only ones offering premiums of less than £300p.a.

Does anyone have any experience of either provider or can you recommend any alternatives?

My main concern is avoiding being forced to use an approved retailer in the event of a claim, rather than sourcing a direct replacement from Canyon.

Thanks in advance.

Posts

  • andcpandcp Posts: 644
    Look at Pedalcover for the whole lot. No connection, just a satisfied customer.
    "It must be true, it's on the internet" - Winston Churchill
  • si.brownsi.brown Posts: 39
    Andcp wrote:
    Look at Pedalcover for the whole lot. No connection, just a satisfied customer.

    Yeah I've heard good things about them. Thanks!
  • I used pedalsure after some research, they offered the best cover by far, and cheapest. Just make sure you read the terms and conditions
  • bungle73bungle73 Posts: 753
    I'm with Pedalsure atm. The thing to be aware of is that are very strict about how you secure your bike if it's kept in an external garrage. That's why I'm thinking of switching to another provider, now my policy runs out in a few weeks.
  • As long as you have a 5 lever mortise lock or 5 lever padlock on the door, or chain it to an no movalble object with a specified lock in the outbuilding, then they insure you :D
  • MattyKHZMattyKHZ Posts: 2
    I had same problem as every year change of home insurer it seems bike values insured get lower unless you stay and have max value protected.

    I stumbled across tsb pick and protect. Only had to do bike cover with them but could have done whole lot of stuff I take outside like phone/iPad etc too.

    Have all my bikes covered for £7.77 a month with no additional charge for paying monthly. Max value of most expensive bike is £3500 not max claim amount so providing all my bikes are this amount or less they are all covered. Also covered for damage and events and cover is worldwide.

    http://www.tsb.co.uk/home-insurance/bicycle-insurance/

    Not many people seem to know about them but when I was looking it was best for my needs.
  • mfinmfin Posts: 6,726
    edited July 2017
    It depends on the value you are getting for what you pay, everyone's perception differs.

    I don't even bother having anything but in the house cover, my bikes are never left unattended when out anyway and never have been. It actually costs nothing in additional premium at all. I've never had any single one worth more than £5k covered though, and only ever up to four at a time, so I don't know what the limit is.

    It is always worth working out what you actually need.

    OP I doubt you would not be able to replace through Canyon, they would have to replace like for like and Canyon are sold only through their own channel.
  • dannbodgedannbodge Posts: 1,040
    Mine are insured with Bikmo
    About 3k worth of bike is £18pm and covers you for pretty much everything.
    You do have to have a rated lock if you lock it up outside your house etc though.
  • bungle73bungle73 Posts: 753
    As long as you have a 5 lever mortise lock or 5 lever padlock on the door, or chain it to an no movalble object with a specified lock in the outbuilding, then they insure you :D
    Which is all very well if you already have that stuff installed, but if you don't it's a lot of hassle.
    Dannbodge wrote:
    Mine are insured with Bikmo
    About 3k worth of bike is £18pm and covers you for pretty much everything.
    That's the one I'm thinking of going with. Their home security requirements are much more relaxed: their policy states something about only expecting the "normal" security arrangements to be in place. Plus (apparently) they were voted Best Cycling Insurance Provider at the 2016 Insurance Choice Awards.

    You can get a 10% discount here>>https://boughtbymany.com/news/article/cycling-insurance-uk/
    Plus it lists a few other options.
    You do have to have a rated lock if you lock it up outside your house etc though.
    Most of the insurers have pretty much the same lock requirements as far as I could see. It was a bit of a nuisance for me, as I already had a pretty good lock, but it was old, so hadn't been tested using the Sold Secure system, so I had to purchase a new one. The new one is much lighter though.
  • Bungle73 wrote:
    As long as you have a 5 lever mortise lock or 5 lever padlock on the door, or chain it to an no movalble object with a specified lock in the outbuilding, then they insure you :D
    "Which is all very well if you already have that stuff installed, but if you don't it's a lot of hassle."

    I wouldn't call using a padlock a lot of hassle :roll: all you need to do is fit a hoop and clasp, takes about ten minutes, no hassle whatsoever, easy!

    Most insurers won't even insure you in an outbuilding, hence why pedalsure are one of the best imo
  • bungle73bungle73 Posts: 753
    I wouldn't call using a padlock a lot of hassle :roll:

    Er you need more than just a padlock....
    all you need to do is fit a hoop and clasp, takes about ten minutes, no hassle whatsoever, easy!

    Just like that, huh?
    Most insurers won't even insure you in an outbuilding, hence why pedalsure are one of the best imo
    Who are these "most insurers" then? Because that just isn't true, otherwise no one would be able to insure their bike. There is nothing special about Pedalsure in that regard.

    Oh and one of the most annoying thing on an internet forum is when someone unnecessarily rolls their eyes at you. :roll:
  • No, you're wrong. A 5 lever Padlock is sufficient.

    I tried 5 other insurers before pedalsure, who all told me that the bike was UNINSURED in an outbuilding. It has to be in the house or garage attached to the house. I'm sure there are other insurers that insure you in an outbuilding, but, I didn't find any, plus pedalsure was the cheapest by far and had the most comprehensive cover for me.

    Just trying to help the OP with my experience.

    Also, a padlock with a hoop and clasp literally takes 5 minutes to fit, just google it.....

    Op, hope you find a good deal on your insurance, just remember to read the t's and c's.
  • bungle73bungle73 Posts: 753
    No, you're wrong. A 5 lever Padlock is sufficient.

    Am I? How are you going to use a padlock alone to lock up a bike?? It won't fit!
    I tried 5 other insurers before pedalsure, who all told me that the bike was UNINSURED in an outbuilding. It has to be in the house or garage attached to the house. I'm sure there are other insurers that insure you in an outbuilding, but, I didn't find any, plus pedalsure was the cheapest by far and had the most comprehensive cover for me.

    Er that's what we're talking about, putting it in a garage. And it sounds like you didn't look hard enough tbh, because if you Google "cycle insurance" (as far as I can tell) pretty much all the cycle insurers will insure a bike in a garage. You can even get insurance from retailers like Wiggle, and they also cover it.
  • bungle73bungle73 Posts: 753
    The only way to comply with Pedalsure's (and some other insurers|) T&C re garages (short of having all the doors beefed up) is to secure the bike inside with some kind of large chain, and then secure that chain to an anchor point bolted into the floor. As I said, too much trouble for me - maybe it isn't for you
  • :roll: Jeez, A padlock on the door!!!!!!!! That's all you need for them to cover you!!

    I did search, Most of the other insurers I found said they won't cover unless its in a house or brick built garage attached to the house. If it's not it's classed as an outbuilding and they won't insure.

    Just read the t's and c's before posting, it really doesn't have to be this complicated.....
  • bungle73bungle73 Posts: 753
    :roll: Jeez, A padlock on the door!!!!!!!! That's all you need for them to cover you!!

    I did search, Most of the other insurers I found said they won't cover unless its in a house or brick built garage attached to the house. If it's not it's classed as an outbuilding and they won't insure.

    Just read the t's and c's before posting, it really doesn't have to be this complicated.....

    Are you actually reading anything that I've posted? I said quite a way back that I had my current policy with PS, so of course I've read them!! How do you think I know that the requirements are a hassle?

    And you're going to need to have something to put the padlock on. I've no idea how one would go about doing that with a standard garage door.

    If anyone is making anything complicated here it's you. All I did was post my thoughts about it, and then you took it upon yourself (for you own reasons) to pick holes in what I'd said because it didn't suit you. Do you have shares in PS or something? Why are you getting so worked up that I''m thinking of switching to another insurer?
  • Bungle73 wrote:
    :roll: Jeez, A padlock on the door!!!!!!!! That's all you need for them to cover you!!

    I did search, Most of the other insurers I found said they won't cover unless its in a house or brick built garage attached to the house. If it's not it's classed as an outbuilding and they won't insure.

    Just read the t's and c's before posting, it really doesn't have to be this complicated.....

    Are you actually reading anything that I've posted? I said quite a way back that I had my current policy with PS, so of course I've read them!! How do you think I know that the requirements are a hassle?

    And you're going to need to have something to put the padlock on. I've no idea how one would go about doing that with a standard garage door.

    If anyone is making anything complicated here it's you. All I did was post my thoughts about it, and then you took it upon yourself (for you own reasons) to pick holes in what I'd said because it didn't suit you. Do you have shares in PS or something? Why are you getting so worked up that I''m thinking of switching to another insurer?

    Never mind, peace :D

    Ps, don't forget pedalsure for all your cycle insurance needs :lol:
  • si.brownsi.brown Posts: 39
    Hi all,

    Thanks for your responses and comments. After a bit more research I've cancelled my buildings/contents cover and taken out a combined home and bike policy with Pedal Cover. This worked out cheaper than taking a separate bike policy and arguably provides better cover for my needs (e.g I don't need a gold standard lock when away from home). Also, they're a small team so I always get straight through and speak to the same person about the policy - plus they're based just down the road, local jobs and all that.

    So far I'd really recommend them, I'll let you know if that changes!
  • FlâneurFlâneur Posts: 3,081
    Going through the claims process with Pedal Cover currently. Bike now has a bulge in the down tube after a crash.
    As we all know, the claim is the trust test.

    So far friendly and helpful. Personal annoyance, I have to send my bike away to be checked. LBS has said they would write it off given the carbon frame and obvious change from smooth to bulge, however it isn't them having to write a cheque.
    Stevo 666 wrote: Come on you Scousers! 20/12/2014
    Crudder
    CX
    Toy
  • ErnesiderErnesider Posts: 300
    Flâneur wrote:
    Going through the claims process with Pedal Cover currently. Bike now has a bulge in the down tube after a crash.
    As we all know, the claim is the trust test.

    So far friendly and helpful. Personal annoyance, I have to send my bike away to be checked. LBS has said they would write it off given the carbon frame and obvious change from smooth to bulge, however it isn't them having to write a cheque.

    Let us know how you get on with your claim ..!!
  • andcpandcp Posts: 644
    Flâneur wrote:
    Personal annoyance, I have to send my bike away to be checked.
    Interesting - where did you have to send it to?
    "It must be true, it's on the internet" - Winston Churchill
  • FlâneurFlâneur Posts: 3,081
    Andcp wrote:
    Flâneur wrote:
    Personal annoyance, I have to send my bike away to be checked.
    Interesting - where did you have to send it to?

    Sending it first to Pedal Cover, who may (though originally said it would) be sent to Carbon Bike Repair in Leatherhead. Glad I still have the bikes delivery box in the garage (I think)

    As I said wait and see how it plays out before passing judgment. Side note/update, both the LBS and local Spec Concept store have said they would write the bike off.
    Stevo 666 wrote: Come on you Scousers! 20/12/2014
    Crudder
    CX
    Toy
  • andcpandcp Posts: 644
    Hello Flâneur,

    Pardon the intrusion, but did this get resolved? If so, how do you rate the performance of Pedalcover?
    "It must be true, it's on the internet" - Winston Churchill
  • chrisǃchrisǃ Posts: 67
    Stay well clear of Yellow Jersey.
    When I tried to claim after being hit by a car they tried to fob me off with a repair. (the frame was snapped a the seat stay and the fork blades were snapped clean off). To then rub salt in the wound when I said no one of them offered to buy the broken frame for £100 (it was a circa £3.5k frame). In the end the drivers insurance co paid out in full.
  • cougiecougie Posts: 22,512
    Why wouldn't you have claimed from the driver anyway ?
  • pblakeneypblakeney Posts: 19,992
    cougie wrote:
    Why wouldn't you have claimed from the driver anyway ?
    I would expect my insurance company to deal with it, but yes.
    The above may be fact, or fiction, I may be serious, I may be jesting.
    I am not sure. You have no chance.
    Veronese68 wrote:
    PB is the most sensible person on here.
  • chrisǃchrisǃ Posts: 67
    cougie wrote:
    Why wouldn't you have claimed from the driver anyway ?

    They advised me to go through them. Luckily I sought other advise.
  • FlâneurFlâneur Posts: 3,081
    Just an update regarding Pedal Cover ( I say update the matter is all concluded)

    Bike was sent to a place in Kent to be inspected. They said the frame could be repaired. However, I had some concerns around this as a local repairer had stated he wouldn't touch it, and the statements made by the marketing material of Pedal cover did state old for new no quibble etc.

    After a discussion with the Pedal Cover team, I then called the repairer who stated facts which differed from those which had been told and repeated by Pedal Cover. I called Pedal Cover back who said as I was being told something different to themselves they would not have it repaired and paid out in full for the frame (along with all the other bits).

    Process speed was hard to judge as both I and the claim manager went away on holiday during the claim.
    Approachability and discussions were very good.
    Once the claim had been confirmed the payout was near enough instant.

    I'd give them a solid 4.5/5. The negative being that I had to question the repair and that the repair company are selling one thing but providing something different (they cannot promise the bike will be returned to factory condition, or have insurance should the repair fail and you hit the dry stone wall).

    On a side note as this happened just as the claim was concluded, a club member had had their wheels repaired at the company, first ride out and the repair failed leading to a scary moment on a descent in N Wales and to my understanding some hassle with the guarantee.


    Short though, depending on my renewal price I'd use Pedal Cover again.
    Stevo 666 wrote: Come on you Scousers! 20/12/2014
    Crudder
    CX
    Toy
  • andcpandcp Posts: 644
    Thanks for the response Flâneur,

    I'm interested as I use pedal cover and had the fortune to not claim (yet), but it's good to know they seem OK.

    Andy.
    "It must be true, it's on the internet" - Winston Churchill
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