Insurance?

[Will1985]

Tell your housemate where to go*. You can do what you like in your rented room - just stick a strip of plastic sheeting or floor mats down. Keep it in there so it is the last thing you see at night and first thing you see in the morning.

*If they have a games console/animal/loud music system, tell them that you don't want it in the house as it is an offence to your senses.

 

[knonist]

knonist- why is your housemate not letting you store your bike in the house? Like others have said outdoors isn't the best place to plonk your bike - if you're going to spend about £600 it would be a shame for the machine to rust up outdoors. Is it a housing contract issue? Turning it into a hack bike as well would be a travesty imho but that's up toyou-however, professional thieves will still recognise a good bike despite the attempts to hide it's make.

Does ETA insurance have a hefty excess charge?

I know dont why, but we have 8 bikes between 4 people... if everyone start to put bikes indoor then would mess the house up..

 

[knonist]

Now I got myself a couple hundreds quid 2nd hand bike, the bike itself is very good and not expensive at all! But the stuff I put on it will cost more then half the bike's value (of course not its original value). What kind of a world it is…. Lock, mud guards, rear rack, decent tyres = a very nice 2nd hand trek (even the bike shop think I got a good deal!) [And yes, I have checked on checkmend.com to ensure it is not a stolen good].



I really dont know if I can / need to ensure it or not... "cheap" bike but expensive (but not fancy) asscessories... and I still cant find a immoveable object in the shed!

 

[knonist]

contacted ETA and told them that I just got a decent 2nd bike (a 2008 model purchased at 2997).
It is 2yrs old and I paid for 1/2 of its purchase value.

I was told that I habd to insure it for the full 2010 RRP value, and next year, I would have to insure it for the 2011 model....
If I under insure it (let say purchase price instead of full RRP of the current model), I would not get anything if it get stolen.

It is reasonable and anyone know which company would not force you to "over insure" your bike

 

[ttcycle]

knonist - I have five bikes in a rather snug flat - only one belongs to my one and only other flatmate.

It's what happens re bike obssession!

Different insurers will have varying terms and conditions but BC cycle insurance won't insure something older than three years it's year of manufacture.

Well ultimately it is up to you to decide whether you insure it or not but it can be devestating when you find your bike's gone walkies - though with a bike worth couple of hundred maybe you can put that onto the house's exisitng contents insurance (if you have it).

I still return to the original question though - if your bike got stolen would you be able to stump up the cash to buy another one...? Bear in mind accessory costs you mentioned and usually locks etc that are damaged or go missing may not be covered - it isn't with my insurance.

Glad you got a good deal btw!

 

[ttcycle]

The reason you're having to insure at RRP cost is that if your bike was stolen - the cash you got back would not cover the replacement for like for like for that model and as you say you got a great price which is not standard for that bike- my insurers don't ask for you to insure at the cost of the bike each year though but I suppose you then have to pay for the difference if your bike does get stolen.

 

[knonist]

knonist - I have five bikes in a rather snug flat - only one belongs to my one and only other flatmate.

It's what happens re bike obssession!

Different insurers will have varying terms and conditions but BC cycle insurance won't insure something older than three years it's year of manufacture.

Well ultimately it is up to you to decide whether you insure it or not but it can be devestating when you find your bike's gone walkies - though with a bike worth couple of hundred maybe you can put that onto the house's exisitng contents insurance (if you have it).

I still return to the original question though - if your bike got stolen would you be able to stump up the cash to buy another one...? Bear in mind accessory costs you mentioned and usually locks etc that are damaged or go missing may not be covered - it isn't with my insurance.

Glad you got a good deal btw!

Thanks, ETA said the bike is OK if it is in my own shed, so no immovable object needed.
But their policy is unreasonable... if I only want to insure a couple hundards pounds of bike + accessory then why would I be forced to insure the full RRP of the latest model?

 

[knonist]

The reason you're having to insure at RRP cost is that if your bike was stolen - the cash you got back would not cover the replacement for like for like for that model and as you say you got a great price which is not standard for that bike- my insurers don't ask for you to insure at the cost of the bike each year though but I suppose you then have to pay for the difference if your bike does get stolen.

I rather pay for the difference as I will be looking at 2nd hand bikes again!
BTW, which insurer you use?

 

[ttcycle]

BC cycle insurance - They will most likely still ask you to insure for the RRP price due to my previous comments re replacing the bike. Plus the way they arrange for repaying the monies if your bike is stolen is by forwarding a credit to one of a selection of bike shops so your plan re second hand bikes would be a difficult one.

Suppose these issues occur due to false insurance claims - Depends on the value of your bike as insurance is worth it for a very high value bike that would be impossible to replace without insurance and also is high in desirability so will be likely to be stolen -which if your bike is a couple of hundred - it's a trade off whether you insure it and would be up to you. If you're wanting to save quids.....?!!!

 

[trsleigh]

It is a shed, it has wooden wall! There is no way anyone can install something immovable in a wooden shed! It can not be fixed to the wall and it can not be fixed to the ground either!
Any ideas?

You can fix something to the ground. Cut out a section of shed floor, dig a big hole, stick a good sized piece of looped bent rod in hole ( Check builders merchants reinforce concrete section ) , fill with concrete and replace floor with suitable cutouts around the metal.

This is a lot easier if you do it before the shed is put in position and then simply cut the shed floor as required.

Alternatively could use a scaffold pole cut to length to finish at the shed roof.

 

[knonist]

done it with ETA today, it cost me 63 quid to ensure the bike... but that's included break down cover...
so in the cold winter night, I know I wont have to walk 10 miles home

 

[knonist]

Frankly, the bike insurance offered by British Cycling, the CTC, etc. is overpriced and full of restrictions and get out clauses. It is extremely poor value for money.

Get home contents insurance with M&S - your bikes will be covered. If they're extra expensive bikes you may have to pay an additional premium, but it is a pittance compared to what other insurers charge.

This isn't any old insurance... this is M&S insurance.

I'm living a rented room in a shared house, so only endsligh for me in terms of home insurance...

 

[knonist]

done it with ETA today, it cost me 63 quid to ensure the bike... but that's included break down cover...
so in the cold winter night, I know I wont have to walk 10 miles home

It is not bad for the value... any one tried claiming from them?

• Cover for theft, accidental damage and vandalism (new-for-old) RACE COVER INCLUDED
• Personal accident cover up to £20,000
• Third party cover up to £1m
• Breakdown cover for your bicycle
• 90 days’ European cover
• 60 days’ worldwide cover
• ‘Get You Home Cover’ – pays for a taxi home should your bike be stolen or damaged
• No claims discount up to 40%
• Discount of 40% for foldng bikes
• Hire bike

 

[ttcycle]

not bad -the policy looks ok -might have a glance when I need to renew mine

Glad you got it sorted Knonist!

 

[Joseph]

As User mentioned, I've found Marks and Spencer is the best.

I just switched my buildings and contents over to them. IIRC, covers bikes up to £4000, including away from home, no strange conditions about how you lock them up, and no excess.

(The quote was also 100 quid cheaper than my existing buildings/contents insurance, which only covered upto £500 for the bike, with a £100 excess!)