Insurance

[scottishking]

Its not quite a kit question but I think this is the best place to ask the question.

I just got my first bike last week and now want to know the best way to insure it. As far as I can tell the home insurance wont cover it. Im not so worried about damage, although thats always useful, its mainly the theft/loss side of it as if it got nicked I wouldnt be all that happy.

 

[Gerry Attrick]

I would think your home insurance will cover it as a specified item. Give them a call. Insuring through your home insurance is usually much cheaper than a stand-alone policy. If your present insurers won't co-operate, threaten to go elsewhere at the next renewal, and do so if they still won't budge.

 

[Norm]

I'd say +1 to all that Gerry has written. What exactly do you mean by "the home insurance wont cover it"? Do you mean the standard policy excludes them unless specified or do you mean that the policy specifically excludes all bikes no matter what?

I used the home insurance for at least half a dozen bikes and it added about £30 to £40 to the policy. I think you'd struggle to cover a single £500 bike for that on a stand alone policy.

 

[wafflycat]

It's fairly standard for home insurance to cover it. What the detailed cover and exclusions will be will depend upon the policy. What you need to check with your home insurer:-

Is the bike covered?
If so, to what amount?
If that amount is not enough - what would it cost to have the correct amount of cover?
What are the details in terms of how the bike is stored/locked/to what and with what?

Hope the above helps.

 

[ColinJ]

My M&S home & contents insurance covers bikes up to £4k and also provides £2 million worth of personal liability insurance.

 

[HJ]

Our DirectLine home contents insurance covers our bike at home and away (so long as they are secured when we leave them anywhere) and gives us 3rd party personal liability insurance. Not all insurers do this so it is worth checking, if they don't offer these sort of benefits consider changing insurer. There are also a wide range of specialist insurers who will offer you cover, although this can be more expensive.

 

[scottishking]

The insurance simply says it wont cover bikes. I think it should just be a quick phone call by the sounds of it and hopefully they will sort it. Dont think I realised it would be that easy

 

[Norm]

Very quick phone call for me, but make sure you have your frame numbers handy.

 

[ASC1951]

The insurance simply says it wont cover bikes. I think it should just be a quick phone call by the sounds of it and hopefully they will sort it.

Make sure they confirm that in writing.

I haven't had any bike insurance or even household contents insurance for over 20 years. I have saved many times the value of any losses.

 

[BrumJim]

Recommend considering household contents insurance. The reason why you have insurance is not to cover general costs, but insurance against costs that you can't afford. If your house was hit by flood or fire, would you be able to replace everything inside the house? If not, insure.

 

[zacklaws]

I just enquired last week about my bike being insured last week with barclays to add it to my barclays home insurance.

To be covered for theft it has to be secured to an immovable object which at present I do not have. Max cover is for a £1500 bike and when i asked if the bike insurance would also cover me for damaging my bike out on the road etc, I was informed the bike insurance would not cover that, but it is covered on my household insurance. I did not take it on the bike insurance at present, but I will ring again just to confirm my house insurance really does cover me whilst out on the road.

I think they gave me a qoute for about £22 to £28 per annum for theft.

 

[sayek1]

Added my new £1200 bike to my household insurance last week - £35 up until the renewal time in Dec.

This covers me both at home & away. Esure. I already have my £700 hybrid covered. I think they ask for anything above £500 to be specified.