Bike insurance

AdamD1

Regular
Is it common to get insurance for a bike around the £1k mark? I assume multi thousand pound dream machines are insured but only ever having had entry level price mtb’s I’ve never considered it. Just had a quick look and see quotes are around £51/annum. I am going to phone my home insurer later to see what they offer in this regard.

Any companies to avoid?
 

Dag Hammar

Well-Known Member
Location
Essex
It was someone else, I believe, that brought this one to my attention. https://www.eta.co.uk/
If the link does not work, search ETA cycle insurance. One point to note in their small print / exclusions is a bit regarding being able to prove ownership of the bike and the lock. I doubt many cyclists would have receipts to show for older bikes especially if they were acquired second-hand or self built from various components.
I like the thought of ETA providing ‘breakdown cover and recovery within a 25 mile radius’ but at the moment I have not insured my bikes seperately as I have them included in my house contents cover.
 

Alex321

Senior Member
Location
South Wales
My house insurance automatically covers bikes up to £1500 in value. Anything over that has to be specified separately (mine is £2100, so specified) with a small additional premium.
 

PaulSB

Legendary Member
In my experience house insurance is always the best option. Two key points if you're with a major known provider it's unlikely you will have claim issues or they will go bust.

As regards cover most contents policies will cover bikes to a certain level. The amount will be stated. For more expensive items these are covered as named personal possessions.

I have Buildings and Contents cover which includes worldwide new for old cover on £10k worth of specified bikes. £257 I think.

A cycle specific policy will not get close to that. Generally it's a rip off.
 

vickster

Legendary Member
Iirc you’re using cyclescheme?
If so, definitely insure it as you’re liable for the payments until the end of the hire term (it’s not actually yours until then, similar to buying on finance).
Mine are all covered on home insurance, essentially included in the policy, no extra.
Obviously with home insurance, there’ll usually be an excess so check the terms (and some policies may have a limit less than £1k)
£51 a year depending on the terms sounds good esp if includes accidental damage (check the small print around locks etc)
Sticky here may be of use
https://www.cyclechat.net/threads/insurance-and-cycling.118438/
 

Sharky

Guru
Location
Kent
Third party insurance is a must and you can get this cover by joining one of the two major cycling organisations (Cycling UK and British Cycling).

Bike insurance cover, apart from cover under the house contents policy, I've never bothered. Have too many bikes and they are kept in the garage. When I am out, never leave unattended. When I was commuting, the firms always provided safe bike parking.

Only ever had one bike stolen (which wasn't insured) and that was over 50 years ago and I learned my lesson to always keep it safe.
 

Biker man

Well-Known Member
Is it common to get insurance for a bike around the £1k mark? I assume multi thousand pound dream machines are insured but only ever having had entry level price mtb’s I’ve never considered it. Just had a quick look and see quotes are around £51/annum. I am going to phone my home insurer later to see what they offer in this regard.

Any companies to avoid?
I have insurance for my ebike after reading about someone in London who stepped out in front of a cyclist while on her mobile . Then took him to court and claimed damages for a lot of money .So I got insurance one less thing to worry about.
 

fossyant

Ride It Like You Stole It!
Location
South Manchester
Home insurance.

Barclays also do a home insurance extension covering all bikes upto £5k each for about £10 a month. I have this cover on top of my other contents insurance with another company.
 

Biker man

Well-Known Member
Home insurance.

Barclays also do a home insurance extension covering all bikes upto £5k each for about £10 a month. I have this cover on top of my other contents insurance with another company.
Yes I believe a few do with home cover but it's the liability you have to make sure that you are covered.
 
Third party liability cover for any activity is probably best when covered through a 'special interest' membership organisation as they're more likely to have access to, and retain, specialist legal advisors so it's not the 'luck of the draw' which is probably what you'd get from a more general insurance company if you needed it.
That's the principle I've always worked on anyway.
 

Biker man

Well-Known Member
Third party liability cover for any activity is probably best when covered through a 'special interest' membership organisation as they're more likely to have access to, and retain, specialist legal advisors so it's not the 'luck of the draw' which is probably what you'd get from a more general insurance company if you needed it.
That's the principle I've always worked on anyway.
Hi Kitty I think you have a point there you have to think of all angles.
 
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