Bike insurance

[razabbs]

Hi all,

Looking for suggestions on bike insurance, and if there are any discounts available for being part of the forum etc. I've never insured a push bike before but my main concern is damage with it being my first carbon frame. I generally don't get off while out riding so theft I hope isn't a huge issue. Also what can I expect to pay? The bike was around £1500 new this year.

Thanks!

 

[vickster]

A specialised cycling insurer like Bikmo might be your best bet if accidental damage cover your main concern. Such policies seem to attract an annual policy cost of around 10% of the bike value but it’ll depend on your post code etc as theft cover will be included (your bike is as likely to be stolen from home):
You could also ask your home insurer.
Dont think there are any forum discounts, but you might if a member of British cycling or similar

sticky here https://www.cyclechat.net/threads/insurance-and-cycling.118438/

 

[Juliansou]

I think there’s various discounts you can pick up via organisations like cycling uk (if you’re a member). I use Assetsure & have done for a while - they’re more reasonable than some of the ‘discounted’ offers. I pay £100 a year for my 4 bikes & 50% of the entire value is my carbon bike (similar price to yours). I would guess about £50 a year for you maybe? I guess it depends on postcodes/age etc etc so that’s very much a ballpark figure. Just be a bit wary that you may have to use a specific sold secure rated lock, and make sure you don’t have to permanently secure in a garage (I don’t). I know you said this wasn’t a priority for you, but if you’re paying for it you may as well use it (although how anyone would establish what lock you used if it was nicked I’ll never know!).

 

[rivers]

I'm with Bikmo, and pay about £300/year for £5500 worth of bikes. When I had 2 bikes nicked from my shed, they paid out without issue for both the bikes and accessories that were attached

 

[rivers]

I'm with Bikmo, and pay about £300/year for £5500 worth of bikes. When I had 2 bikes nicked from my shed, they paid out without issue for both the bikes and accessories that were attached

 

[Alex321]

If your home contents insurance is with Aviva, they will include full cover for a bike up to £2500 for only about £18 additional premium. That includes accidental damage, 3rd party liability, plus theft.

Other home policies may provide similar cover, though not necessarily as cheap, Our previous insurer wanted £70 extra..

 

[Sluicehoops]

I use laka. it a monthly rolling contract, and the amount varies depending on the number of claims they have each month. You insure the amount it costs to replace your bike.
they are excellent if you need to make a claim.

Explained a lot better here:
https://laka.co/gb

 

[PaulSB]

I pay £287 for House Buildings and Contents insurance which includes cover new for old, worldwide, all risks for £11000 on my bikes.

 

[razabbs]

Thanks all! I'll look into these.

 

[Juliansou]

I pay £287 for House Buildings and Contents insurance which includes cover new for old, worldwide, all risks for £11000 on my bikes.

Crikey! That sounds very reasonable. Could you share who your with? May be handy for me renewal time, which is coming up - thanks.

 

[Alex321]

Crikey! That sounds very reasonable. Could you share who your with? May be handy for me renewal time, which is coming up - thanks.

Mine is less than that, but it does only cover up to £2500 for any one bike (mine is worth £2100).

 

[Juliansou]

Who are you with Alex?

 

[Alex321]

Who are you with Alex?

Aviva

 

[Juliansou]

Aviva

Cheers

 

[PaulSB]

Crikey! That sounds very reasonable. Could you share who your with? May be handy for me renewal time, which is coming up - thanks.

Hastings Direct. You need to add each bike as an individual named possession not simply as a bike. For bikes over three years old you need a valuation for replacement by an LBS. If you don't state the replacement value you would only get the purchase value. So for example the bike I paid £3200 for is currently insured for £5500 as that's what it would cost to replace it.