Bike Insurance...

Heltor Chasca

Out-riding the Black Dog
My household insurance policy came through for renewal. To impress me with their newest and best price they found a cheaper deal this year. Great. However, going through the small print there was no longer any cover for the 6 bikes at Chez HC. Twits!

My opportunity to shop around. Separate cover for the bikes on top of the house insurance? Comprehensive for the lot? Leaving out the boring stuff, I found an amazing deal with Pedal Cover. It was £11 cheaper PCM for all 6 bikes than the nearest separate scenario (Bikmo), £1000000 house and £75000 contents.

Pedal Cover offers a zero-loophole policy. I am delighted. Here is a summary for anyone shopping around. I highly recommend them.
  • No charge per bike.
  • No limit on number or value of bikes.
  • Full worldwide crash damage cover, as standard.
  • No need to specify the bikes covered.
  • Breakdown recovery service – if you have a mechanical we will cover the taxi home.
  • Public liability cover in the UK.
  • New for old cover up to 10 years (unlike many other providers who only offer 3 years).
  • Bikes replaced, in most cases, with a cash settlement. Ideal if you have bespoke bikes (e.g. Van Nicholas, Parlee, Seven).
  • Crash damage and theft cover for clothing and accessories too (includes helmets, Garmin watches, phones).
  • No limit for theft from an outbuilding.
  • Bike rental replacement if an airline damages your bike.
  • Time trialling, Sportives and Gran Fondos covered as standard.
FAQs

Is the bike covered for crash damage?

Yes, worldwide. Even if it’s your fault.

Do I have to use a specific lock?

No, we don’t have any over-the-top lock requirements.

Do you use Wheelies?

No, generally we provide a cash settlement.

Is the policy new for old?

Yes, up to 10 years.

Is the bike covered in an outbuilding?

Yes.

3rd party liability is not covered for member-to-member claims with British Cycling, is it with your policy?

Yes, full public liability cover in the UK.
 
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stuarttunstall

Senior Member
Location
Yorkshire Wolds
I insured with Bikmo in May last year when I got my bike, the renewal has just come and it the same price... https://bikmo.com/

Seems a good level of cover.. this is based on a bike £1100 for instance... Customer service is good as well, send an email they reply almost at once... very happy..

PLUS
Broader cover for enthusiast riders who need to cover themselves too

£8.43 /mth Or £101.16 /yr
All GO benefits and
  • £20k Personal accident
  • £2m Public liability
  • £5,000 medical expenses inc. physio
  • £2,500 counselling expenses
  • £1,000 dental injury
  • £500 optical injury
Main Benefits
  • Theft
  • Accidental damage
  • Vandalism
  • Worldwide cover
  • £250 or 10% Clothing & headgear
  • £250 or 10% Accessories
  • £500 or 10% Bike box
  • £150 Returning home cover
  • £500 Alternative cycle hire
  • Excess-free replacements
  • Free legal advice
  • Family + friends
  • Multi-bike - up to 50%
  • New for old - no depreciation
  • 0% monthly payments
  • £20,000 Personal accident (death + capital benefits)
  • £2m Public liability
  • £5000 Additional medical expenses inc physio
  • £2500 Counselling expenses
  • £1000 Accidental dental injury
  • £500 Accidental optical injury
 
OP
Heltor Chasca

Heltor Chasca

Out-riding the Black Dog
I insured with Bikmo in May last year when I got my bike, the renewal has just come and it the same price... https://bikmo.com/

Seems a good level of cover.. this is based on a bike £1100 for instance... Customer service is good as well, send an email they reply almost at once... very happy..

PLUS
Broader cover for enthusiast riders who need to cover themselves too

£8.43 /mth Or £101.16 /yr
All GO benefits and
  • £20k Personal accident
  • £2m Public liability
  • £5,000 medical expenses inc. physio
  • £2,500 counselling expenses
  • £1,000 dental injury
  • £500 optical injury
Main Benefits
  • Theft
  • Accidental damage
  • Vandalism
  • Worldwide cover
  • £250 or 10% Clothing & headgear
  • £250 or 10% Accessories
  • £500 or 10% Bike box
  • £150 Returning home cover
  • £500 Alternative cycle hire
  • Excess-free replacements
  • Free legal advice
  • Family + friends
  • Multi-bike - up to 50%
  • New for old - no depreciation
  • 0% monthly payments
  • £20,000 Personal accident (death + capital benefits)
  • £2m Public liability
  • £5000 Additional medical expenses inc physio
  • £2500 Counselling expenses
  • £1000 Accidental dental injury
  • £500 Accidental optical injury
I almost went with this lot if I was insuring just my best bike at £2000 new. Great policy but it wasn’t competitively priced for all our bikes unfortunately.
 

tom73

Veteran
Location
Yorkshire
I insured with Bikmo in May last year when I got my bike, the renewal has just come and it the same price... https://bikmo.com/

Seems a good level of cover.. this is based on a bike £1100 for instance... Customer service is good as well, send an email they reply almost at once... very happy..

PLUS
Broader cover for enthusiast riders who need to cover themselves too

£8.43 /mth Or £101.16 /yr
All GO benefits and
  • £20k Personal accident
  • £2m Public liability
  • £5,000 medical expenses inc. physio
  • £2,500 counselling expenses
  • £1,000 dental injury
  • £500 optical injury
Main Benefits
  • Theft
  • Accidental damage
  • Vandalism
  • Worldwide cover
  • £250 or 10% Clothing & headgear
  • £250 or 10% Accessories
  • £500 or 10% Bike box
  • £150 Returning home cover
  • £500 Alternative cycle hire
  • Excess-free replacements
  • Free legal advice
  • Family + friends
  • Multi-bike - up to 50%
  • New for old - no depreciation
  • 0% monthly payments
  • £20,000 Personal accident (death + capital benefits)
  • £2m Public liability
  • £5000 Additional medical expenses inc physio
  • £2500 Counselling expenses
  • £1000 Accidental dental injury
  • £500 Accidental optical injury
+1 for bikmo not only covers the bike getting damaged but me too. Worked out best deal for me plus they have simple to understand levels of cover.
 

vickster

Legendary Member
+2 for Bikmo.

Insurance should always be bought to provide the cover you need, not on the lowest price.
My bikes are all covered by my home insurance
BC covers the legal stuff

To insure all my bikes with Bikmo would be extortionate, when I looked the premiums appear to run about 10% of value for higher levels of cover

Each to their own
 
OP
Heltor Chasca

Heltor Chasca

Out-riding the Black Dog
For clarity, Pedal Cover was £11 PCM cheaper for all 6 bikes and the house than it was with Bikmo to insure JUST my best best bike and the house separately with another company.

For all 6 bikes the Bikmo quote doubled which in itself isn’t a bad for a multi bike deal if that is what you are insuring, but I still needed to budget for the house and contents.

Both policies are very good having read the policies carefully. Unlike most documents, the inclusions were 90% and exclusions 10%. Simple, no loopholes wording.

It was simply down to budget. Either will give you piece of mind.

*I don’t have a ‘phone home rescue next of kin option’ so their breakdown recovery/get a taxi home after a mechanical/crash etc was of particular value to me.
 

vickster

Legendary Member
For clarity, Pedal Cover was £11 PCM cheaper for all 6 bikes and the house than it was with Bikmo to insure JUST my best best bike and the house separately with another company.

For all 6 bikes the Bikmo quote doubled which in itself isn’t a bad for a multi bike deal if that is what you are insuring, but I still needed to budget for the house and contents.

Both policies are very good having read the policies carefully. Unlike most documents, the inclusions were 90% and exclusions 10%. Simple, no loopholes wording.

It was simply down to budget. Either will give you piece of mind.

*I don’t have a ‘phone home rescue next of kin option’ so their breakdown recovery/get a taxi home after a mechanical/crash etc was of particular value to me.
I have ETA for that, £18 per annum
 

SkipdiverJohn

Deplorable Brexiteer
Location
London
£100 a year sounds a lot for £1100 bike
Not really. Bike theft, accident damage, and injuries whilst cycling are not exactly unusual happenings like your house burning down are they? You only have to look at a few threads on here with individuals stating that they have had a bike taken, or have been involved in more than one RTA over the last few years.
Put yourself in the position of an investor in an insurance company. The punter gets £1100 of risk covered for £100 outlay. The insurer has £1100 liability for just £100 guaranteed income, at a zero claim rate - and since bikes get stolen and cyclists crash, the claim rate is always going to be above zero, so the investor's net income is always less than the theoretical £100.
 
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