insurance warning

[spen666]

My house insurance covers up to £500. They wanted a ridiculous sized premium for anything over that. When I asked why, they said £500 should cover the cost of almost any bike?!? The woman had the attitude that paying anymore for a bike was silly. Stupid to think that other item like camera equipment is up to a value of several thousand. She wasn't too amused when I said if my bike got nicked I'd just tell the insurance company that it was my camera!

Stick a £3-99 camera on bike and tell camera bike is just a camera accessory which is no doubtcovered

 

[col]

As long as the shed was locked,or any outbuilding like that,my insurance covers it.Some years ago we had our bikes taken from the shed,and his first question when he came round was ,was it locked?As soon as i said yes he started sorting out the amount to pay,but was trying to get me to accept vouchers for a particular shop,i just said no,i want cash so i can go looking for my self,he said ok no problem.We have been with them now for as long as i can remember.

 

[ColinJ]

I've just remembered that someone once had their insurance claim turned down on the grounds that a garden shed was a wooden building and therefore the bike wasn't covered. Sure enough, it was there in the small print - bikes had to be stored in brick or stone buildings. The fact that the thieves went in through the door or window was neither here nor there.

Check with your insurer that your bike is covered for the things you do with it, and the places you leave it.

I'm covered as long as I'm not racing and as long as I don't leave a bike unlocked somewhere out of sight.

 

[GrahamG]

Definitely worth checking -I had to discount a load of different insurers and ended up going with M&S as they were the only ones with a sensible policy.

Here are some of the other policy details that I had to dig for that made them no good for me:

1. No cover for bikes over £500 or other such amount
2. No cover if garage is not attached to house (mine is in a separate block)
3. Maximum payout for property stolen from garage £1500 (no good for 6 bikes and camping gear then!)
4. Bikes not covered away from home i.e. locked up on the street

Whole load of pitfalls, and many companies charged a small fortune for bikes when I had to list one worth c.£1600.

The extra £150 odd annually for M&S was well worth it for total piece of mind and insurance of all household goods worldwide - so that includes all bikes accessories and camping gear when touring abroad too, and also my musical gear when gigging! Separate specialist insurance would cost well in excess of £500 for that level of cover.

 

[In trouble]

I had a colleague at work who earlier this year, took his bike out of his brick out building (where he keeps it locked) to carry out some maintanence in the back garden. (Garden is enclosed.)

Nipped inside to get a cloth, came out a again to find the bike had been taken. rang the Ins company to make his claim, and because the bike was not secure, in a brick built building, the Ins was invalid, and they refused to pay out. He asked them if he had lied about it, would they have paid? They replied....Yes....