Bike insurance

Is it common to get insurance for a bike around the £1k mark? I assume multi thousand pound dream machines are insured but only ever having had entry level price mtb’s I’ve never considered it. Just had a quick look and see quotes are around £51/annum. I am going to phone my home insurer later to see what they offer in this regard.

Any companies to avoid?

Comments

  • wongataa
    wongataa Posts: 1,001
    Often it is cheaper to have bikes on your home contents insurance as long as they don't cost more than the limits. A £1000 bike should be able to be covered on home contents with no issue.
  • pblakeney
    pblakeney Posts: 26,483
    edited September 2021
    As advised above....
    Just check that your contents are covered away from home. That's a nice get-out clause.
    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.
  • elbowloh
    elbowloh Posts: 7,078
    Mine are on the house insurance which also covers outbuildings where they are stored.
    Felt F1 2014
    Felt Z6 2012
    Red Arthur Caygill steel frame
    Tall....
    www.seewildlife.co.uk
  • dalebonnicp37
    dalebonnicp37 Posts: 3
    edited November 2021
    Yeah, this is why I didn't want home insurance for my bike. I'm "lucky" to always be hit by someone or something breaks on my bike so for me, a good insurance for my bike is a must-have. However, I had many problems with insurance companies, and many times I solved by myself some issues which had to be solved by them. But in the end, I found a good one which provides a variety of policies for any kind of situation and always helped me when I had some accidents. If you one to take a look at it, you can find it here.
  • redvision
    redvision Posts: 2,958
    edited November 2021
    pblakeney said:

    As advised above....
    Just check that your contents are covered away from home. That's a nice get-out clause.

    And cover you for actually riding the bike! (As i found out a few years ago after a crash, home insurance policies may state they cover all damage at home and away from the house, but the policy I had apparently didn't cover me if I was actually riding the bike, and therefore they refused to pay out when I crashed).
  • gsk82
    gsk82 Posts: 3,518
    I used to insure my best bike until I realised there was little chance of me making a claim. I keep it in the house and people don't tend to break into houses. If they do its probably through an open window or door, so you aren't covered. If I crash I'm unlikely to trash the full bike. If it's away from home its unlikely to have a sold secure gold lock on so it wouldn't be covered anyway. The insurance is only likely to be useful in a crash or if the bike is stolen from inside a car.
    "Unfortunately these days a lot of people don’t understand the real quality of a bike" Ernesto Colnago
  • webboo
    webboo Posts: 6,087
    “People don’t tend to break in to houses” I don’t know which world you live in but in mine they do. Burglars punch out the locks on PVC doors, take out windows as well smashing them to get in to houses. I know of people who have had bikes stolen from inside their houses.
  • rwoofer
    rwoofer Posts: 222
    I don’t insure any of my bikes, because premiums are just too high. Basically I think insurers have to make assumptions about risk, when the real risk is very much in our own control. I could have already bought a high value new bike with what I have saved in premiums.
  • I bought a new bike for me. I didn't do any kind of insurance yet. Which one do you recommend?
  • In fact, bike insurance is very expensive, but I think it's worth it because bike repairs aren't cheap either.
  • In fact, bike insurance is very expensive, but I think it's worth it because bike repairs aren't cheap either.