Cycle Insurance

[RecordAceFromNew]

One more point, I have never found a "renewal" quote by existing insurers (house, car, health, you name it...) not significantly more expensive, for the same terms, than new quotes (even from the very same insurers!) obtained from a comparison website.

 

[bauldbairn]

Holy moly! It cost me about half that to add 7 bikes to the household policy!

I know it's a bit expensive Norm but I didn't really shop around. It was actually more for the legal/third party insurance - incase I pranged a Lambo or Ferrari whilst in limbo(as discussed on PM) last year. -
It really didn't matter about the theft part - that would have just been an inconvenience.

 

[bauldbairn]

One more point, I have never found a "renewal" quote by existing insurers (house, car, health, you name it...) not significantly more expensive, for the same terms, than new quotes (even from the very same insurers!) obtained from a comparison website.

Spot on! Last year after 10 claim free years with NU - I went shopping for car insurance and dropped it from £600 to £280 for equivalent insurance from ESURE. I can't bare to think I could've saved myself £3k over the years. -

 

[jimbut]

Ta for all comments. I rang my Halifax household insurance group. Cost me £30 per year to add £3000 bike. Butterworth ( recommended by my LBS ) quote was £243 per year for same cover type!!!! What the hell is that all about ????

 

[spiro]

Ta for all comments. I rang my Halifax household insurance group. Cost me £30 per year to add £3000 bike. Butterworth ( recommended by my LBS ) quote was £243 per year for same cover type!!!! What the hell is that all about ????

That is because the £30 you pay Halifax is added to your other premium (household) so they are getting an amount to cover thousands of pounds worth of good most of which are probably low risk (how often do we claim for a TV where with Butterworth you are paying to insure a single item which is high risk.

 

[ASC1951]

Ta for the reply AF. You are of course spot on. Legalised extortion ! Still what price a bit of peace of mind ?

In fairness to insurers, bikes are easier to write off than cars and much easier to steal.

Peace of mind is expensive, jimbut. I have never insured my house contents or any of my bikes and despite one small burglary I am well up on the deal.