Bicycle Insurance

harlechjoe

Regular
I have house insurance that covers my bike and 3rd party insurance from membership of a national cycling club. Having recently brought a new bike I looked into the cost of insuring it against theft on my regular bike rides. The quoted cost was 3 times greater than my car insurance and my car is 5 times more expensive than the bike I now own and even if I took out that bicycle policy, I would need to carry a weighty Gold Standard lock on my rides and provide photographic evidence of using it each time it was used. Can any members suggest an affordable provider for insurance against theft ?
 

Juliansou

Well-Known Member
Location
Essex
I’ve used Assetsure for a few years now. Never had to make a claim, which I guess is the real test of an insurance policy, but their rates seem reasonable. I looked into insuring bikes as part of my home insurance but this was capped at £500 per bike so it may be worth double checking this? I don’t know the value of your bike, but I found Assetsure to be a little more ‘generous’ in their lock allowances - from memory, they require a sold secure bronze lock for bikes up to £1.5K which does me nicely - no requirement to take photos either.
 
I have Yellow Jersey bike insurance
but I also have the bikes covered by Tesco house insurance - which has improved the bike coverage a lot - especially for ebikes

The Yellow Jersey insists on Sold Secure Gold for both ebikes whenever they are left - and in the shed they have to be attached to a ground anchor and the shed locked - and some other stuff

When I took out the Tesco Home Insurance I checked the conditions with them - they were amazed that I had the 2 bikes locked with 3 locks to a bar on the back wall - and at that point I hadn;t mentioned the Gold lock and the ground anchor
basically they would cover the bikes for theft from the shed if they were just locked up and the shed was locked - with any lock

I do need to check for theft away from home - which basically mean the high street few only a few minutes at a time - or the Tesco bike rack

but I may well cancel the Yellow Jersey one - although they did send me a 'DNA' cycle marking kit - but I reckon if it was stolen the Police would be able to use the makers to trace stuff
and anyway - it is all registered on BikeRegister
 

SkipdiverJohn

Deplorable Brexiteer
Location
London
Just self-insure it and save the extortionate premiums. if one gets nicked, take it on the chin. Statistically you will lose less by self-insuring than you will by insuring, the difference is the insurers profit margin, and insurers aren't in the game to lose money.
The way I look at it, anyone with an expensive bike who leaves it unattended and not in their line of sight needs their head examining anyway!
 

classic33

Legendary Member
Just self-insure it and save the extortionate premiums. if one gets nicked, take it on the chin. Statistically you will lose less by self-insuring than you will by insuring, the difference is the insurers profit margin, and insurers aren't in the game to lose money.
The way I look at it, anyone with an expensive bike who leaves it unattended and not in their line of sight needs their head examining anyway!
Some of us value our bikes, so we lock them and insure them to make it as hard awkward as possible for it to be stolen, and should they be stolen, we have a means of getting back on the road as quick and easy as possible.

I'll assume you don't insure your cars for theft, for the same reasons you advocate not insuring your bikes. After all if they get pinched, whilst out of your sight, your head needs examining.
 
[QUO
The way I look at it, anyone with an expensive bike who leaves it unattended and not in their line of sight needs their head examining anyway!
[/QUOTE]
OK - I agree with self insure to an extent

but I leave our ebikes in the shed - which I cannot see overnight - I do not regard this as just asking for it to be stolen
I also leave my £2000 ebike locked up with 2 locks - one sold secure gold - at Tesco and on the high street
OK - I do take the battery away with me and it is only there for 10-15 minutes

but I don't think this is 'needing my head examining" - if someone want to knick a bike there will be 2 or 3 on the high street that are not locked in any manner whatsoever
not ebikes - but then an ebike with n battery needs over £300 to even make it work!!!

basically - in areas where there are very few bikes around - why would anyone be wandering around carrying the tools needed to cut through a decent lock??



so - basically - insure it - and in the unlikely event that it does get stolen - claim on the insurance and you will probably end up with a more up-to-date bike!
 

Dag Hammar

Well-Known Member
Location
Essex
The subject of bike insurance was, I’m sure, covered quite extensively in another thread. Although I do not insure my bikes separately as they are on the household cover I did take an interest in the previous thread and I was sufficiently interested in what one company offered in addition to insurance cover as it also provides a ‘’ get you home‘’ cover in the event of a breakdown which I considered to be potentially quite useful.
I have provided this https://www.eta.co.uk/bicycle-insurance/ in case anyone would care to take a look and I wish to make it clear that I have no connection whatsoever to this company.

p.s. If the link does not work, try Googling ETA Insurance.
 

vickster

Legendary Member
I have house insurance that covers my bike and 3rd party insurance from membership of a national cycling club. Having recently brought a new bike I looked into the cost of insuring it against theft on my regular bike rides. The quoted cost was 3 times greater than my car insurance and my car is 5 times more expensive than the bike I now own and even if I took out that bicycle policy, I would need to carry a weighty Gold Standard lock on my rides and provide photographic evidence of using it each time it was used. Can any members suggest an affordable provider for insurance against theft ?
Can’t you just add to your home insurance as a named item? Phone them unless you already have?
 

Archie_tect

De Skieven Architek... aka Penfold + Horace
Location
Northumberland
Just been through this... AA contents part of their renewal quote had increased from £218 last year to £282 so rang to run through it. Agent asked what the new for old price was for our e-assist tandem which was originally covered under their £5000 limit for a single bike- as it is now £5600 new he said they couldn't renew and the cheapest policy the AA could do would be £520!

Went on-line to check other insurers and all seemed to have this same £5000 limit on any one bike.
Tried Halifax Home Insurance and they have a £10,000 limit so we went with them- £270 for combined building and contents, with all the bikes individually specified under the cover. Thoroughly recommend you give them a call.
 
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