Insurance cover - what do you have?

[srw]

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

For accidental damage, most ordinary household policies will cover it - although the cost of damage might well be outweighed by the excess. For personal injury there is, but I don't know anyone who's got it. The best approach is to avoid injury - which means that if your tyres slip you should change them, or be less aggressive in your riding.

Most personal injury while riding is caused by someone else, usually a driver. Which is why third-party liability insurance is mandatory for drivers of motor vehicles. If you're injured you claim against their insurance.

 

[Banjo]

Third party liability is the important bit. Injure someone or damage an expensive car and you could be in deep poop.

CTC or BC membership can give you this or companies like cycleplan can give you 3d party very cheaply.

 

[srw]

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

(This could be my catchphrase on here...)

It's a little more complex than that.

Most gambling is on a single event, or a combination of independent single events - which means that the sums are very easy. Most insurance policies cover a range of events at some stage during the policy lifetime - which means that the sums are rather more difficult.

Which, in turn, means with my professional background that I'm a highly paid insurance company executive - because the mathematical skills I bring are rare.

 

[Kevoffthetee]

I called my home insurance (more than) and they will cover the bike but not me for £10p/m. I call my life cover provider (L&G) but here call queues are huge.

I put the same question to the guys at the club and one of them come back with bikmoplus. Had a quick read and it seems to cover everything. Anyone heard of them?

I think it might be worth adding another thread with their name to see if there are any other users out there

 

[SpokeyDokey]

I called my home insurance (more than) and they will cover the bike but not me for £10p/m. I call my life cover provider (L&G) but here call queues are huge.

I put the same question to the guys at the club and one of them come back with bikmoplus. Had a quick read and it seems to cover everything. Anyone heard of them?

I think it might be worth adding another thread with their name to see if there are any other users out there

Just go to British Cycling and get it sorted.

Re: personal injury. You may well need specific cover for cycling.

Years ago I enquired about cover as an extension of my home insurance policy for my climbing activities - basically they said 'you've got to be joking'.

 

[400bhp]

Jst go to British Cycling and get it sorted.

Re: personal injury. You may well need specific cover for cycling.

If we are talking about lump sum payouts for injuries to oneself then you don't need specific one for cycling.

 

[vickster]

British Cycling cover you being injured by a third party, slipping on wet leaves and injuring yourself doesn't count! Unless they do something additional beyond their standard ride cover...they do, the Gold for permanent injury or death

https://www.britishcycling.org.uk/membership/article/memst-Personal-Accident-Insurance-0

 

[SpokeyDokey]

If we are talking about lump sum payouts for injuries to oneself then you don't need specific one for cycling.

I think it's best to check on a policy by policy basis.

A lot of household insurance policies are stripped down these days to be price competitive.

Even if cycling is covered there may well be restrictions on the type of cycling that is 'allowable' eg time trialing/racing or downhill MTB all of which have increased risk associated and may well be excluded.

I'm no expert but it can be very easy to get caught out with insurers.

 

[400bhp]

I think it's best to check on a policy by policy basis.

A lot of household insurance policies are stripped down these days to be price competitive.

Even if cycling is covered there may well be restrictions on the type of cycling that is 'allowable' eg time trialing/racing or downhill MTB all of which have increased risk associated and may well be excluded.

I'm no expert but it can be very easy to get caught out with insurers.

I wasn't talking about household insurance policies.

 

[SpokeyDokey]

I wasn't talking about household insurance policies.

Apologies - thought you was.

 

[LocalLad]

(This could be my catchphrase on here...)

It's a little more complex than that.

Most gambling is on a single event, or a combination of independent single events - which means that the sums are very easy. Most insurance policies cover a range of events at some stage during the policy lifetime - which means that the sums are rather more difficult.

Which, in turn, means with my professional background that I'm a highly paid insurance company executive - because the mathematical skills I bring are rare.

Are you an actuary by any chance? I'm an FIA working in pensions...we're a rare bunch!

 

[srw]

Are you an actuary by any chance? I'm an FIA working in pensions...we're a rare bunch!

Yup. FIA CERA, working as CRO of a GI company. @400bhp is part of the fraternity too.

 

[LocalLad]

3 in one place...what are the odds?

Let's work it out....

(Poor actuarial joke...)

 

[400bhp]

Yup. FIA CERA, working as CRO of a GI company. @400bhp is part of the fraternity too.

Aye. Pensions but these days I don't do proper work.

 

[LocalLad]

Me neither..working as a pensions manager in house nowadays