Cycle Insurance

[Xiorell]

I've seen a few post/threads speaking of cycle insurance and I am thinking this might be a good idea.

I don't have the best bike (bikeS when I finished my project) around at all but it'd still cause a problem if some little... tinker, nicked one, or it was otherwise lost to me.


Who's good to go with? I'm not doing sporty things, it's commute, general leisure on the road, bit of messing about off road when project is finished.

Who can cover me and pay out in the bike gets robbed, if I was to have an accident or should manager to injur someone else. Or say damage a car or whatever?



Suggestions and recommendations please!

 

[gregsid]

I've recently insured my bike with "CycleCover" which is owned by Butterworth Spengler Facilities Limited and underwritten by Hiscox.

When I signed up (online), you're given the option to select various extras like accident insurance and legal cover on top of the normal theft policy. Was a friendly form too. You need to provide the value of your bike(s) as well as the frame number. I think there was even an option for other family members to share too.

There's quite a few choices of insurance companies online and there's a few adverts for companies in cycle magazines too. They'll cover what you need I'm sure.

Greg

 

[pepecat]

My bike is covered under the house insurance - it's an extra bit a year (about £50??) on top of the house insurance. I don't know if they pay if it was pinched when i had it locked up somewhere = work or whatever. I don't tend to take it places like that anyway - i have a cheap crappy thing which i take to work, and if that gets pinched, well there we are.

As for personal insurance, I'm a member of British Cycling which covers legal fees etc and provides some insurance if i were to have an accident. I were the cause of the accident, i don't know quite how that would work though.
But bodies like British Cycling or CTC offer insurance. Check them out.

 

[Xiorell]

I've recently insured my bike with "CycleCover" which is owned by Butterworth Spengler Facilities Limited and underwritten by Hiscox.

When I signed up (online), you're given the option to select various extras like accident insurance and legal cover on top of the normal theft policy. Was a friendly form too. You need to provide the value of your bike(s) as well as the frame number. I think there was even an option for other family members to share too.

There's quite a few choices of insurance companies online and there's a few adverts for companies in cycle magazines too. They'll cover what you need I'm sure.

Greg

I think I just had a look at them guys.

Any idea what the general rule is with custom bikes? Like ones you've built up from various bits etc, not full "off the peg" bikes?

 

[Norm]

Have you got household insurance? Mine covers me for 7 bikes (including the kids' BSOs) up to £1k in value for about £15 extra a year, with the only restriction that the most expensive one needs to be locked (no minimum spec for the lock) to a solid object when not at home or in my sight.

 

[gregsid]

Any idea what the general rule is with custom bikes? Like ones you've built up from various bits etc, not full "off the peg" bikes?

That's where my knowledge runs out. Guess you could type "custom" in make+model and enter the value as what you would pay for one like it. Especially as cycle insurance (generally I think) insures new for old and the premium will be derived largely from the "value" and your postcode.

 

[Xiorell]

Have you got household insurance? Mine covers me for 7 bikes (including the kids' BSOs) up to £1k in value for about £15 extra a year, with the only restriction that the most expensive one needs to be locked (no minimum spec for the lock) to a solid object when not at home or in my sight.

Nah no household. As far as I know anyway lol

 

[evilclive]

Nah no household. As far as I know anyway lol

I've always insured mine under house contents insurance - dedicated bike insurance is significantly more expensive. Doesn't really help you if you're in temporary accomodation, but I think I got contents insurance when I was in a shared house. (was a while ago...)

M+S are reportedly good (unless you've ever had a flooding claim, they won't touch me with a bargepole :-( ), and it seems that AXA are too this year.

 

[slowmotion]

"Bike specific" insurance seemed to cost about 10% (p.a) of the new bike value as regards annual premiums when I looked into it. Leaving aside the bike lock requirements, the small print was quite onerous. The post code didn't make much difference to the quotes.

If you can put it on your home insurance, the deal looks a lot better. (Sorry OP, this is a Public Service Announcement).

A couple of weeks ago, I put £1150 of bike cover on and it cost £23.50
Claiming might lose me some no-claims however . No specific lock requirement, no stupid abandonment rubbish, and they threw in 60 days abroad as well . Will they pay up? Insurance is a very sleazy business...who knows

If you want Third Party, joining the Fridays looks like a great deal at £12.

 

[funnymummy]

Have you got household insurance? Mine covers me for 7 bikes (including the kids' BSOs) up to £1k in value for about £15 extra a year, with the only restriction that the most expensive one needs to be locked (no minimum spec for the lock) to a solid object when not at home or in my sight.

Mine are all under household too, and like Norm's the only restriction is that they must be locked up, but no spec given for type of lock.
I recently double checked about car racks too, as a friend had hers stolen while parked up - she had locked it to the rack.. They took the whole lot!!
I'm also in the CTC, so have their insurance too

 

[Corgi Kid]

I hadn't really thought about Cycle Insurance before becoming a member of the forum. There's an awful lot of things to consider such as public liability and accidental damage. I intend to read all the threads concerning Insurance before I make up my mind, either way I will have some form of cover.

 

[Bluenite]

Have you got household insurance? Mine covers me for 7 bikes (including the kids' BSOs) up to £1k in value for about £15 extra a year, with the only restriction that the most expensive one needs to be locked (no minimum spec for the lock) to a solid object when not at home or in my sight.

I know this is an old post, but could you tell me who covers your home insurance and your Bicycles. I have Santander and they only cover to £250 which blows.

Thanks

 

[Kiwiavenger]

i have mine insured with Churchill under my contents insurance. its automatically covered whilst at hime and you can add the bicycle extension away from home at a small fee. ive had to use them before then i tacoed my rear wheel on a pothole and threw me off and all they asked for was a photo of the damage and the cost to replace/repair it! got me a nice new handbuilt mavic rim onto my shimano hub and thicker gauged spokes (back when i was pushing 19 stone!)
never used any "specialist" cycle insurers though

 

[Bluenite]

i have mine insured with Churchill under my contents insurance. its automatically covered whilst at hime and you can add the bicycle extension away from home at a small fee. ive had to use them before then i tacoed my rear wheel on a pothole and threw me off and all they asked for was a photo of the damage and the cost to replace/repair it! got me a nice new handbuilt mavic rim onto my shimano hub and thicker gauged spokes (back when i was pushing 19 stone!)
never used any "specialist" cycle insurers though

Thank you for the reply. Do they ask you to use any type of special locks for your bikes.

 

[Kiwiavenger]

no just as long as it is locked to an immovable object.

Exclusions that apply to Sections 4A and 4B

But we will not pay for loss or damage:



by theft unless:
– the pedal cycle is in a locked building or has been chained to
something which cannot be moved and is immobilised by a
security device;
– or arising from violence or the threat of violence resulting in
the loss of your pedal cycle.

so basically chained to something and secured with a lock. they also cover it in use just not for racing, pacemaking or time trials! will be calling them to make sure its covered on my charity ride in may though