Insurance
si.brown
Posts: 39
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.
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.
0
Posts
Yeah I've heard good things about them. Thanks!
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.
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.
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.
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.
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.
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
Er you need more than just a padlock....
Just like that, huh?
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:
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.
Am I? How are you going to use a padlock alone to lock up a bike?? It won't fit!
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.
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
Ps, don't forget pedalsure for all your cycle insurance needs
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!
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.
Crudder
CX
Toy
Let us know how you get on with your claim ..!!
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.
Crudder
CX
Toy
Pardon the intrusion, but did this get resolved? If so, how do you rate the performance of Pedalcover?
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.
I am not sure. You have no chance.
They advised me to go through them. Luckily I sought other advise.
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.
Crudder
CX
Toy
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.