ColinJ
Puzzle game procrastinator!
- Location
- Todmorden - Yorks/Lancs border
Can't would-be thieves just roll it away again?
Beware bike insurance loopholes [MoreTh>n]
- Thread starter mumbo jumbo
- Start date
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I think this thread is a telling reminder that insurance shouldn't be bought on the basis of the lowest quote.
I'm also with LV (and Frizzells before that) and have been for about 30 years. Which meant that, when my bike got stolen 2 years ago, they paid out even though it wasn't on my policy as I'd only had it a few days.
Seigi
Senior Member
- Location
- Carlisle, UK
Then I'll lock it to an immovable objec---oh wait...
DiddlyDodds
Random Resident
- Location
- Littleborough
Never insured mine as they will not cover the shed as its in a yard shared by 5 houses, so 25 years of not paying insurance , 25 years of being careful and no bikes stolen as i installed a 3inch steel tube in the shed that i lock the frame of the bike to, and also lock the wheels to the floor, and as i work for a security door company i have a door and locking system better than most houses, so to nick it out of my super shed they would would have to take the shed to bits.
If i get mine nicked tomorrow i will still be in pocket from all the moneys i could have paid to Insurance companies over 25 years.
If i get mine nicked tomorrow i will still be in pocket from all the moneys i could have paid to Insurance companies over 25 years.
DiddlyDodds
Random Resident
- Location
- Littleborough
If i get mine nicked tomorrow i will still be in pocket from all the moneys i could have paid to Insurance companies over 25 years.
[/quote]
Oh dear , that's tempting fate
Leaway2
Lycrist
- Location
- Manchester (Sale)
Wankelschrauben
Guest
My car insurance increased because my bicycle adds more risk to my car whilst it is parked up at home and not being used. Insurance companies are scum.
Night Train
Maker of Things
- Location
- Greater Manchester
This is why I don't bother insuring my bikes and use very big locks when I have to leave them anywhere.
Also why I have rat/hack bikes for going out locally and leaving where I can't see them.
I don't bother with house contents insurance either, the premiums would cost more then the stuff that would get nicked and I can do all the post break in repairs myself.
Also I have a habit of reading the small print and I know that there are far too many reasons for the insurer to use to avoid paying out in my circumstances.
Also why I have rat/hack bikes for going out locally and leaving where I can't see them.
I don't bother with house contents insurance either, the premiums would cost more then the stuff that would get nicked and I can do all the post break in repairs myself.
Also I have a habit of reading the small print and I know that there are far too many reasons for the insurer to use to avoid paying out in my circumstances.
leyburnrunner
New Member
- Location
- wensleydale
i work for an insurance company so ergo i'm one step removed from a paedophile, terrorist. i think you really need to re-calibrate your values and perhaps get out a bit more.
Insurance companies are not all created equal. A lot of it is about how they position themselves in the market. Many of the cheaper ones will squeeze claims hard. Some of the others will Market their product on service.
I spent a year as a financial adviser. My boss claimed that a man he had sold life insurance to died, the family phoned him and they had a cheque in their hands before the funeral. I visited a family who used another company, whose father had died two years earlier and they were still arguing about the payout.
My view is - use known names. Stick with them. By all means ask them to match quotes but don't change every year. Read the small print. Declare everything. It's very tempting not to tell them something that you know could end up loading the premium but then you may not be covered.
At the end of the day you need to remember it is a commercial organisation. Their decisions will be based on what they think is best for the company - not for you.
I spent a year as a financial adviser. My boss claimed that a man he had sold life insurance to died, the family phoned him and they had a cheque in their hands before the funeral. I visited a family who used another company, whose father had died two years earlier and they were still arguing about the payout.
My view is - use known names. Stick with them. By all means ask them to match quotes but don't change every year. Read the small print. Declare everything. It's very tempting not to tell them something that you know could end up loading the premium but then you may not be covered.
At the end of the day you need to remember it is a commercial organisation. Their decisions will be based on what they think is best for the company - not for you.
Really sorry about you losing your bikes but when you left them on your car over night were you not advertising them for somebody to pinch them. I think you did. You should have taken much more care over them and put a rain coat and leggings on and brought them inside. How do the insures know or not if you called your mates up and told them what's on offer tonight. I guess you have learnt a lesson on how to protect your bikes now because I do believe you have too much faith in humans. Next time you secure your bikes make sure you do what the insurers advise you to do.
Cafe stops are favourites with thieves and anybody who says they only left it for a minute are in the theft time zone.
Cafe stops are favourites with thieves and anybody who says they only left it for a minute are in the theft time zone.
Not cycle related but watch for "accidental cover"on house insurance. I dropped a can of white emulsion on our landing carpet a few years ago and claimed on our house insurance. Apparently we weren't covered for accidental damage!! WTF is insurance for if it's not for accidents?? "OK, I did it on purpose", I sarcastically said to the person at the insurance company.
Apparently our policy covered us for what we dropped but not for what it landed on. Therefore I could claim for a £10 tin of emulsion but not the £300 carpet it redecorated. And this was with CIS who are a big name so I don't go with the stick to the big name suggestion either. I hate them all.
Buy cheap, take care and hope you don't have to use them.
Apparently our policy covered us for what we dropped but not for what it landed on. Therefore I could claim for a £10 tin of emulsion but not the £300 carpet it redecorated. And this was with CIS who are a big name so I don't go with the stick to the big name suggestion either. I hate them all.
Buy cheap, take care and hope you don't have to use them.
xpc316e
Veteran
- Location
- Bury St Edmunds, Suffolk, UK
Buying insurance is not that different to placing a bet in a bookmaker's shop. The trouble with insurance comapnies is that a lot try to wriggle out of their obligation when the worst happens. I am not a betting man, but whoever heard of a bookie who said, "Oh sorry, we can't pay out on that bet, because when you placed it we thought the horse was going to lose." I am not saying they are one step removed from scum, but a lot of people are rather unhappy with their performance when they have to claim, and rightly so.
