M&S Household Insurance

[hoopdriver]

[QUOTE 2439077, member: 45"]The majority, even us addicts, see a £2k bike as well over the norm, so in that respect the cover hasn't changed significantly and it's still way better than most others. £2k is surprisingly high IMO.

Are you now saying that they've dropped the level of standard cover as well as significantly increasing premiums?[/quote]
Yes, that £2000 is ONLY for those under the old policy terms. Fr new policies the ceiling is £1000

Does that seem well above the norm for you?

 

[oldfatfool]

I have just recently (within the last 2 months) taken out a policy with M&S and the only proviso I read was that you had to list bikes over £1k whilst bikes under £1k where covered without naming. As this changed now?

Just checked and it hasn't altered, don't know if my premium was loaded or not for the 2 bikes I added over £1k, but it was still cheaper and provides better all over cover than my previous insurance as well as getting vouchers and cash back.

 

[hoopdriver]

Under £1000 is fine. But when you list the bikes over £1000 your premiums will rise substantially. It is not a matter of just listing the bikes, the listing them on your policy changed your premiums a lot

 

[hoopdriver]

[QUOTE 2439116, member: 45"]In my experience the norm is usually £500.

M&S have been great with us when we've claimed with them.[/quote]
As I said, my post was an alert for people with high end bikes who ave gone out f their way in the past to insure with M&S because of their generous terms. Those terms are no longer there. I guess none of this would affect you, but it will certainly make a lot f other cyclists want to shop around.

 

[oldfatfool]

Like I said, adding 2 >£1k bikes with m&s was still cheaper than my previous insurance without them, and the general insurance better as well.

 

[hoopdriver]

[QUOTE 2439164, member: 45"]I'm only questioning it because your post suggests that there's no longer a good deal there for anyone, and I don't think that's the case.[/quote]
I don't think I can be clearer.

People who signed up for a policy, or are considering it, and many have, based on the £4000 threshhold might want to be aware that the terms are substantially different and costs substantially higher.

Clearly that doesn't apply to you, but these changes will be interest to a good many others I dare say.

 

[shouldbeinbed]

Speaking if which...I am open to suggestions for a better household insurance policy, one that will insure bicycles for a reasonably sane premium. Any ideas?

I've been wth Legal and General for a few years now. I had to ring up and specify the bike types and values to get a bespoke additional quote on top of the usual home isurance and bikes upto £500 proviso, but it cost me £8 a month extra for pretty much fully comprehensive insurance when I set the policy up to add a couple of £1500 bikes and has only gone up by inflation since. This year might be diffrerent after having made a claim for a cheaper bike. Interestingly, that claim was refused initially because my son was using the bike when it went missing, but a quick call to speak to a supervisor with a reasoned argument that the bike was insured not the person and and reminder of the money they've had from me over the years seemed to do the trick, full settlement within a couple of days.

 

[hoopdriver]

[QUOTE 2439197, member: 45"]This is the inaccurate bit.[/quote]
No it is not, sunshine

 

[MacB]

No it is not, sunshine

well I thought your meaning was perfectly clear

 

[hoopdriver]

It was perfectly clear. The old deal, a very good one, included bikes - an unlimited number - up to the value of £4000 each on your policy at no additional cost. The new deal does not even come close. Simple.

 

[ASC1951]

It was perfectly clear. The old deal, a very good one, included bikes - an unlimited number - up to the value of £4000 each on your policy at no additional cost. The new deal does not even come close. Simple.

Well, ok. Looking it as an outsider, I would say that the old deal was ludicrously generous and no-one in the current market will offer anything anywhere near it i.e. User may well be correct to say that M&S's replacement deals are still good value.

I say 'as an outsider', because I haven't bothered with any sort of insurance for possessions for many years. Car, yes because I have to; house, yes because the lender insists. Quotes for good quality household cover (and there's no point getting anything else) were coming in at £500 a year so I reckon I've saved many times the cost of my only losses.

 

[hoopdriver]

Well, ok. Looking it as an outsider, I would say that the old deal was ludicrously generous and no-one in the current market will offer anything anywhere near it i.e. User may well be correct to say that M&S's replacement deals are still good value.

I say 'as an outsider', because I haven't bothered with any sort of insurance for possessions for many years. Car, yes because I have to; house, yes because the lender insists. Quotes for good quality household cover (and there's no point getting anything else) were coming in at £500 a year so I reckon I've saved many times the cost of my only losses.

You are indeed an outsider. Their new quotes are middle of the pack at best.

 

[ASC1951]

You are indeed an outsider. Their new quotes are middle of the pack at best.

Fair enough. Not a subject I'm moved to get vitriolic about, tbh.

 

[dellzeqq]

I've still got a couple of expensive bikes (five thousand and three thousand five hundred) insured with the Halifax - indeed, that's the only reason I stick with them. I'm told that new arrivals are restricted to two grand a bike, so I'm wondering if I'm going to have to move when the thing comes up for renewal. Any ideas?

 

[srw]

DZ - YHPM