Bike lock and Insurance

[Rivriv]

Hey guys!​

​

Just bought my first bike. (Wahoo). Went for the Triban 3 (After about 3 weeks of waiting for stock). Just waiting for delivery!!​

​

Basically, I obviously don't want it to be stolen, but if it does, then I would like to be covered. Does anyone have experience with insurance? And any tips and advice? Having had a quick look it looks like I can use "ETA", which will be £33.07 for a year? Which seems reasonable to me?​

​

Secondly, I will need a lock, this insurance says a Silver Sold Secure lock is required. Is it as simple as that?​

​

Thanks for any help!​

 

[Pumpkin the robot]

I had a Scott Hybrid stolen from outside a shopping centre in Bury earlier this year, it was locked up. Claimed on my houshold insurance with no problems, paid for all the add ons I had put on as well.

 

[slowmotion]

Please read the small print in the insurance policy. Very carefully. Bike-specific policies for low(ish) value bikes are appalling value and they try and weasel out of responsibilities like a pond full of eels. If you can get your bike tacked onto your contents/building insurance, it is often a whole lot more inexpensive, and the conditions can be a lot less restrictive.
READ THE SMALL PRINT.

 

[Oldspice]

ETA are you sure? Better off with home insurance as the small print on there policy is very fishey plus the amount they will deduct (you wont get anywhere near the cost of your bike and extras)

If you do cancel with them, make sure you record your calls and cancel with the bank as ETA does not let anyone go (even if they have to lie)

 

[Oldspice]

https://www.eta.co.uk/wp-content/uploads/2012/05/Cycle-insurance-policy-2012.pdf

Please go over your policy carefully.

Insured value means the recommended retail
price at the time of purchase inclusive of
accessories.

Loss or damage to tyres or accessories unless the bicycle is lost or damaged at the same time

Theft following abandonment where your bicycle has been left in a location where public
access could be achieved.

You will not be covered for any claims where you have insured your bicycle for less than its insured
value inclusive of any extra accessories. Note: The purpose of this exclusion is to prevent bicycles
from being part/under-insured. If the bicycle were found to be under-insured we may only meet the
claim, less excess, to the same proportion as the bicycle was covered. For example, a bicycle, which
is only insured for half its insured value will only receive half the loss less any excess. It is your
responsibility to ensure that the insured value of your bicycle is correct (or its nearest equivalent if
your bicycle is no longer available) as this may increase or decrease over time.

 

[Rivriv]

Ok, ETA don't sound so good. That was just a quick search I did to give myself an example. Does anyone have any experiences with insurance on a bike? I'm at uni so controlling finance that way, so was looking to sort it myself. However, I'm sure my dad could be alright with me chucking it on the house insurance if need be.

 

[Oldspice]

Put it on your home insurance, add on extra for accessories ie lights, locks etc and keep hold of all your receipts.

 

[vickster]

Home insurance is ok, but check the excess, may be as high as the value of the bike

I presume it needs to be insured at the house you live in if considering your dad's policy (I assume you don't live there) - not sure how it would work if it got nicked from your uni home (seems a little like 'fronting' with car insurance)...do you not have insurance yourself at uni?

 

[srw]

Ok, ETA don't sound so good. That was just a quick search I did to give myself an example. Does anyone have any experiences with insurance on a bike? I'm at uni so controlling finance that way, so was looking to sort it myself. However, I'm sure my dad could be alright with me chucking it on the house insurance if need be.

But his insurance company may not be....

It's a cheap bike. You ought to be able to get a contents policy for your digs which will cover it - and the rest of your contents.

 

[Pale Rider]

Burglars in unversity towns see students as a soft target, so a policy on your digs to cover the bike, your laptop and so on would be a good idea.