Bicycle Insurance

I have bike insurance and my Home Insurance now covers the bike as well - I will be looking at it in detail before I need to renew

I have noticed that my bike insurance is the one that insists on the bikes being lock with a 'Sold Secure Gold' lock and, when at home, has to be in a locked shed and also the bike needs to be attached to a ground anchor. When left outside they also specify the same standard of lock and what it is secured to.
The Home Insurance simply says it has to be locked up - and at home in a locked shed/outbuilding - no specification of lock standard or ground anchors etc

On the subject of TSB not covering ebikes - Tesco used to be like this but have changed. I rang to check this was true and took the chance of checking that my bikes would be covered in my shed - I only got halfway through explaining how my bikes are locked up before the bloke on the other end laughed and said I was already WAY over the minimum security level they would require.

so - as always - you have to read the small print - and if in doubt ring them and check specifically. Remember they record the calls so they can use it in case you are 'bending the truth' - but it goes both ways and if they deny a claim after you have checked then you can ask for teh recording as evidence
 
OP
harlechjoe

harlechjoe

Regular
Just checked my documents (Churchill) - has to be in a locked building or fitted with a security device (unspecified as to what qaulity) so a wire combi lock would suffice for a cafe stop.
Thank you
 
You have to bear in mind that if you bike gets knicked and you claim on th ehouse insurance then the premium might (will) go up next year

does the pure bike insurance do the same???
 

Mike_P

Guru
Location
Harrogate
Presumably they all work on how much a risk the insured is. What probably gets overlooked by the insured is what the actual value is of the bike(s) given depreciation, one web site I came across reckons it's halves in the first year and then drops 10% per year. Churchill automatically covers bikes to £500 which well covers my hybrid while the road bike bought nearly half price in 2016 for less than £600 I have not bothered listing as a more valuable item and have just the ebike, again a sale purchase with over £600 off.
 

Alex321

Über Member
Location
South Wales
Presumably they all work on how much a risk the insured is. What probably gets overlooked by the insured is what the actual value is of the bike(s) given depreciation, one web site I came across reckons it's halves in the first year and then drops 10% per year. Churchill automatically covers bikes to £500 which well covers my hybrid while the road bike bought nearly half price in 2016 for less than £600 I have not bothered listing as a more valuable item and have just the ebike, again a sale purchase with over £600 off.
Many policies have new-for-old cover, so the actual current value is irrelevant in those cases, it is the new replacement cost that matters.
 

PaulSB

Legendary Member
Presumably they all work on how much a risk the insured is. What probably gets overlooked by the insured is what the actual value is of the bike(s) given depreciation, one web site I came across reckons it's halves in the first year and then drops 10% per year. Churchill automatically covers bikes to £500 which well covers my hybrid while the road bike bought nearly half price in 2016 for less than £600 I have not bothered listing as a more valuable item and have just the ebike, again a sale purchase with over £600 off.
My policy is full new for old. Once the bike is three years old an annual replacement valuation is required. I pop in to my LBS, who supply all my bikes, and they write on out for me.

Simple.
 
I don't know, its worth
If that comma is not needed
then you really need to check it - and screenshot it for records just in case

there is n point in insurance unless you look at how you might need to claim

so - in my case - I have images of both bikes including shots of the serial numbers and ebike stickers
and a shot how they are normally locked up in the shed

you also need to keep an eye on how much it will take to replace
in my case they are basi ebike from well know suppliers - so replacement costs are easy to find

for people with less main stream bike you really need to research the replacement cost a couple of time a year and screenshot it

just in case
 

wiggydiggy

Veteran
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.
I'd recommend them too, I'm up for renewal ATM but am likely just staying with them. £85 contents only.

2 things I like about their policy is that the bike must only be locked to a 'immovable object', and that when it's on my car bike rack that counts as an immovable object! (Need to double-check this still applies before I renew).
 
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