Do you bother with bike insurance?

[Jordibird]

I had my bike insured under a "specialist" insurer (not going to name them but it's a scottish flower) via a LBS. It got nicked last October when they used a portable angle grinder to cut through the D lock. Put a claim and it took until last month before they paid out! The issue being the standard of the D lock (sold secure rating). I had no receipt for the lock but sent photos and the keys down as the toe rags left the lock in pieces. I refused to send the lock itself as it would of cost a hell of a lot and did my research on the sold secure aspect instead. However before I could present my Pelican Brief I got an email saying that the terms and conditions had been revamped whereby sold secure ratings only apply for bikes £2000 up (obviously my little runaround came nowhere near). For some reason which I still can't fathom it seems my policy came under the new conditions as well!

Anyway it's the home insurance route for me now, new conditions or not.

 

[Illaveago]

I'm not a fan of insurance companies they seem to try to wriggle out of paying. In the motor insurance side , if you are not satisfied with the value offered by the insurance company for your written off vehicle you have the option of getting them to find you a replacement of similar value and condition. That usually makes them up the payment. I had not even thought about insuring my bikes, mind you I find difficult getting into my garage .

 

[Andrew_Culture]

It is surprising how potent a little negotiation can be. When my shop got burgled twice in a week the insurer only offered us £200. I replied saying something like 'cor, that's a bit rubbish' and they instantly upped the offer to nearly £900!

 

[mustang1]

My bike might be covered by home contents insurance but if I ever claim, then won't my premiums go up? In which case, I'd rather pay for any damage to the bike myself.

The casino always wins.

 

[Bodhbh]

I live in a bedsit without much of value (to anyone else) so there's no contents insurance and it's not worth bothering with just for the bikes. I bothered with it for a year and it came to several hundred quid per annum. I'd rather just take the hit if one gets nicked tbh.

 

[Andrew_Culture]

I partly mitigate the risk by only owning crapped out bikes that nobody else would want.

 

[Mark2802]

I have bike insurance for my Sempre pro. The security proviso's make it almost impossible to get nicked (gold standard lock through frame secured to an anchor point) but I like the 'accidental accident' option. However, if I didn't have a carbon frame then I wouldn't bother.

 

[1234]

Had my expensive MTB stolen off my drive while my back was turned readying the lock in the garage. Chased the bloke down the street but wasn't quick enough :-( Anyway cycle specific insurance paid out despite it being on the edge of the clauses (it was close enough under the circumstances for it to deemed still under my control)

Glad I had it and have kept it up since. All my other bikes are named on my house insurance.