Insurance

[SkipdiverJohn]

The cycle specific companies were really expensive!

They would be, because they are pricing a specific defined risk at a level they believe will be profitable. The fact that the customer bothers to insure means they perceived there is a real risk and significant money could be involved. It's pretty much the same if you want to insure an expensive latest model mobile phone by itself. The risk must be there otherwise you wouldn't bother.
All-inclusive house insurance policies are different. Total loss claims for everything insured on such policies are incredibly rare events. Total loss claims on bike-specific policies are probably more common than an incremental damage claim; i.e, most of the time a rider claims on a bike policy is because someone has nicked the bike or even several bikes. It will rarely be something like someone has just nicked the saddle or front wheel and not touched the rest of it. The typical claim on a bike policy will therefore be a much higher percentage of the total sum insured than on a house insurance included policy, so the risk to the insurer of an event is much higher - hence the premium.

 

[Mike_P]

Aside from insurance which as noted above is best covered by your home policy its worth having the ETA Cycle Rescue Service @£24/year
https://www.eta.co.uk/breakdown/bicycle/

 

[PaulSB]

Thought I'd pop back. I'm a fan of insuring bikes as personal possesions on my household policy. I find it hard to understand why one might go elsewhere.

This week my LBS told me replacing my summer bike would cost £1000 more than I expected. I've also recently spent +£3000 on a new bike. I called my insurers today and updated the policy. An additional £4000 of cover.

£25.