Insurance advice

[hellsbells]

Hello. Wasn't sure where to post this, so thought i'd try here! <BR itxtNodeId="317"><BR itxtNodeId="316">Basically I've just bought a new bike and want to get insurance out on it. I'm having huge problems finding a suitable company. My bike shop recommended cycleguard, but reading the small print, i've discovered they don't cover theft of parts, which seems completely riddiculous. Have tried finding other insurance companies online but none of them seem to specifically say they cover theft of parts, so I'm assuming they don't. <BR itxtNodeId="315"><BR itxtNodeId="314">Which insurance company are you guys with? Can anyone recommend a good one, that definitely covers for theft of parts as well as the whole bike? <BR itxtNodeId="313"><BR itxtNodeId="312">As i rent & don't have suitable window locks, I'm apparently not eligible for home insurance, so that's no good.<BR itxtNodeId="311"><BR itxtNodeId="310">

 

[BrumJim]

ETA (not the Basque separatist organisation, but Ethical Transport Association) and CTC do bike insurance.

 

[byegad]

Be prepared to fork out over 10% of the bikes value each year as the premium. Also look carefully at the lock requirements. Many insurers demand serious locks or you are not covered.

 

[Angelfishsolo]

+1 Also mine asks for the bike to be locked to an impovable object when in your home. Also they specify a minimun door requirement.

Be prepared to fork out over 10% of the bikes value each year as the premium. Also look carefully at the lock requirements. Many insurers demand serious locks or you are not covered.

 

[yello]

It's going back a few years but our home insurance (with the co-operative) covered our bikes. The misses had 2 bikes stolen (not deliberately! she worked in an area populated by toe rags) and there was no problems claiming... though after the 2nd theft, we sold the replacement and bought a 'hack' bike for her to commute on.

 

[Cyclopathic]

Somebody please correct me if I'm wrong but I thought that there were some lock maufacturers who guarantee to replace your bike if it is stolen whilst locked with their lock. As I can't remember which company this was or where I heard it (thinking now perhaps I dreamt it) this isn't much use, but if it is true then I just thought it might be of interest. If true then there are doubtless loads of conditions that have to be met before they pay up.

 

[henshaw11]

Home insurance is usually the most cost effective, but be aware of any limitations - eg on the value of the bike, plus you may need to supply a frame number, some policies might need to include valuables-outside-the-home cover to get bike cover.

For anything much over 1k M&S has a decent policy - not cheap tho', but covers up to 4k, and you don't have to keep track of frame numbers (best if you do tho'). Waitrose have something very similar but not identical. Both are underwritten by AXA which may explain the similarity in the policies. M&S certainly used to be the insurer of choince over on singletrackworld.com a few years back.

M&S used to be a minor pain re policy renewal - online quote was always a lot lower than the renewal quote - but that seems to have been resolved...

>Somebody please correct me if I'm wrong but I thought that there were some lock maufacturers who guarantee to replace your bike if it is stolen whilst locked with their lock.

Kryptonite mebbe ? - Abus is worth a look too.
There may be restrictions on claiming - eg if there's no evidence of a lock left around, perhaps.

 

[rb58]

+1 for M&S. Not sure what they're like if you ever have to claim though, but combining with house insuranace will be cheaper than a separate policy. They also don't specify particular standards of lock when out and about.

 

[crumpetman]

Somebody please correct me if I'm wrong but I thought that there were some lock maufacturers who guarantee to replace your bike if it is stolen whilst locked with their lock. As I can't remember which company this was or where I heard it (thinking now perhaps I dreamt it) this isn't much use, but if it is true then I just thought it might be of interest. If true then there are doubtless loads of conditions that have to be met before they pay up.

Don't quote me but I think you have to send the broken lock to the manufacturer as proof that it failed and even then I think some form of attacks are not covered. So if the thief takes the bike and the lock then you are stuffed. I have read (but not checked into it's authenticity) that some people buy two locks, register one with the manufacturer and then hack it up. Then use the other lock on the bike and then if it does get stolen you use the hacked up lock as "evidence".

 

[RecordAceFromNew]

I have read (but not checked into it's authenticity) that some people buy two locks, register one with the manufacturer and then hack it up. Then use the other lock on the bike and then if it does get stolen you use the hacked up lock as "evidence".

Idea authetic or otherwise seems unlawful and unwise - the unusued hacked up lock could have been sold, and not needing to be broken, if the bike never got stolen. If the bike did get stolen a broken lock might get left behind so why not register that lock too?

Kryptonite does require a piece of the broken lock to accompany a claim.