Insurance?

[Jo25]

Hi,

Sorry if this isn't in the right place, but does anyone have any good recommendations for where to get insurance? I am hopefully soon getting a new bike through the cycle to work scheme and as it is worth £700 think it may be a good idea to get it insured. Would prefer to get it on a home contents insurance rather than cycle specific, but open to suggestions.

Cheers

Jo

 

[2Loose]

Definitely ask your home insurers if a bike can be added.
My home insurance (Barclays) covers up to £750 per bike for theft, as long it is locked to a solid object with no extra surcharge.

More expensive bikes can be added for an extra fee and I guess this is quite normal.
This does not cover thrid party insurance though.

 

[Chrisc]

Yep, my home insurance covers two bikes which I added to the value of £1800 as long as locked when unattended. Cost me an extra £24 on the policy for the year.

 

[Jo25]

Hi,

Thanks for the quick replies, just got a really good quote from the AA to cover the bike under the contents insurance, but the bike is not covered when in use. Does anyone know if you can get extra cover just for damage when in use, e.g. if I have an accident where no one else is involved?

Cheers

 

[SimonC]

Just done buildings and contents thru Marks and Spencers insurance - they will cover bikes to £4K each as part of cover. M and S get regular mentions elsewhere as being being best cover for bikes.

Also covered away from home - not sure about accidental damage - I guess I should find out since I'm using them.

 

[mpeter]

As has been mentioned, if you are relying on your home contents insurance check whether the bike is covered whilst out and about. Also you quite possibly wont be covered on your house insurance if you race at all or ride in some mass charity event (not sure you'll want to but possibly worth bearing in mind). Also, some specialist companies offer "cycle rescue" options with their cover, ie they'll come get you if you damage your bike whilst out or have it stolen.

 

[HJ]

My bike is covered though my home insurance with Direct Line, are home and away from home, at no extra cost, along with 3rd party cover.

 

[Jo25]

Thanks for the replies, after much searching Churchill have turned out to the the best bet (for me at any rate), home contents insurance premiums less than half M&S and just under half Direct Line then cost £12 to add the bike with only a £15 excess on the bike. Bike is covered for theft and accidental damage both at home and away and whilst in use (damage that is, I know I'm slow but don't think anyone could nick the bike while I was on it ;-) ) as long as you are not competing in events.

 

[slowmotion]

Just check what the deal is if you claim for the bike on your home contents insurance. If you have a no claims bonus, and you lose it with a bike claim, it can get awfully expensive with some policies.

 

[Mark_Robson]

I found that it was going to be cheaper in the event of a claim to take out dedicated insurance. This company worked out to be the cheapest.
http://www.eta.co.uk/

 

[buzzy bee]

Hi

I used Cycle guard,and got them to do the public liabitity, didn't work out that much, even for £3 or 4K of bike.

Cheers

Dave

 

[amygreen]

Agreed Mark_Robson - I have my bike insured with them & they are really good. Covers bikes while competing in time trials & racing etc, third party & covers me while abroad in Europe or Worldwide. Staff are always friendly & efficient & the one time I have made a claim, the cheque was on my doorstep within two weeks... Cannot recommend them enough!

 

[Mark_Robson]

That's great to hear Amy, it's nice to have peace of mind and the breakdown cover could be a godsend.

 

[SavageHoutkop]

I'm with ETA as well, because I don't yet have household contents cover & we rent so no buildings cover either.

if bike folds, ETA premium reduces 40% (!) so made sense for me compared to specialist cycle insurers.