Insurance cover - what do you have?

[Kevoffthetee]

How much insurance cover do you have, and which policy did you take? I'm considering increasing my Expiring BC insurance (ride) to cover bike & personal accident cover but don't know if I'd just be throwing money away.

My bike is a defy 0 (£1000rrp) which I'd like to have covered as there is no way I could replace it anytime soon, but if the policy's were in there hundreds I may not be worth it.

 

[Markymark]

Extended house insurance.

 

[SpokeyDokey]

This for the liability insurance:

https://www.britishcycling.org.uk/membership/ride

Bike covered by house insurance.

 

[robgul]

Extended house insurance.

That's the cheapest way that I've found - up to £5,000 total value - incl 1 specified at £1,800 and the remainder at no more than £500 each, unspecified. IIRC the premium increase was about a tenner - that's with John Lewis (the shop!) - AND there are no stupid requirements to carry a lock and chain weighing more than the bike as there are with the "dedicated" bike insurance policies - just an undertaking to lock to an immovable object.

IMHO the policies offered by Evans, Wiggle, CTC etc are ridiculously expensive BUT the reason is that they only cover bikes where the household policy "odds" cover a wider range of risks and values .... insurance is only book-making!

Rob

 

[ScotiaLass]

CTC for liability insurance and the house insurance covers all the bikes in the house.

 

[Kookas]

I pay £20 a year for liability insurance from BC, and £50 a year for theft insurance from CyclePlan.

 

[glenn forger]

British Gas insure my bike and house, £2m TP cover.

 

[400bhp]

That's the cheapest way that I've found - up to £5,000 total value - incl 1 specified at £1,800 and the remainder at no more than £500 each, unspecified. IIRC the premium increase was about a tenner - that's with John Lewis (the shop!) - AND there are no stupid requirements to carry a lock and chain weighing more than the bike as there are with the "dedicated" bike insurance policies - just an undertaking to lock to an immovable object.

IMHO the policies offered by Evans, Wiggle, CTC etc are ridiculously expensive BUT the reason is that they only cover bikes where the household policy "odds" cover a wider range of risks and values .... insurance is only book-making!

Rob

A risk is a risk, be that it covered under household or covered in isolation.More likely to be an insurer concerned about anti-selection.

 

[shouldbeinbed]

Extended house insurance.

Likewise. Mine is with Legal & General, I had to get them past the notion that it is possible to spend more than £500 on a bike, then it was easy to specify as higher value items and ensure my indemnity & legal cover extended to whatever & wherever I was riding.

 

[vickster]

AA home insurance, bikes covered automatically up to £1500, named item thereafter. I include away from home and accidental damage. Liability through British Cycling ride

 

[slowmotion]

Liability insurance via The Fridays' CTC cover: about £18 pa. £1500 of bikes' insurance on our household contents insurance. I can't remember if it costs extra, but a few years ago it added about £22 pa. It doesn't have the "weasel clauses" that bike-specific insurance policies sneak in. I have no idea if they will pay up BTW, but it's possibly better than trusting to a lock alone.

 

[srw]

but it's possibly better than trusting to a lock alone.

For those who haven't found it yet, here's my guide to all things insurance for bikes:
Insurance and cycling

(@robgul - insurance is slightly more than bookmaking. For a start it's much more comprehensively regulated. Someone recently pointed out that you can put a couple of grand on the 2:30 at Newmarket and no-one will ask you anything, but if you want to put the same amount into an insurance policy or an investment the person who sells it to you has to make sure that you understand the risks.)

 

[robgul]

My comparison with bookmaking was from the insurance company end - they assess the risk/odds and price accordingly - part of the that assessment is asking questions of the person wishing to be insured.

Rob

 

[Kevoffthetee]

Thanks for the suggestions so far, but is there anything that covers you when you are out on your bike? Something that covers accidental damage and personal injury.

I'm thinking that roads will start getting slippy soon and there is only so much grip that tyres can offer

 

[400bhp]

Thanks for the suggestions so far, but is there anything that covers you when you are out on your bike? Something that covers accidental damage and personal injury.

I'm thinking that roads will start getting slippy soon and there is only so much grip that tyres can offer

Personal injury - most personal injury insurance should have certain fixed payouts for certain injuries. It shouldn't matter how you get injured.