Insuring Your Bike At Home

[Mista Preston]

All
I currently pay an extra supplement to cover the value (new for old) of my bikes in the garage.
The deal states no one bike can be valued over 2k. This now no longer covers me and i wanted to understand if anyone has any additional cover for their pride and joy either with their exisiting home insurer or a seprerate insurer and if anyone wanted to share any details that would be great.

Many thanks
Clive

 

[e-rider]

[QUOTE 2247489, member: 45"]My bikes are all covered up to four grand each, at home and away, on an M&S policy. They may have changed the terms for new customers though.[/quote]
I believe new customers of M&S only get £1K per bike but I'm not 100% sure so worth checking. When I renewed mine they definitely said that it was still £4K per bike for my policy but that was over the phone and not in writing! Anyway, I have three bikes, two off which are worth only a bit more than £1K so it would be fairly okay anyway if they tried to pull this one should I ever need to make a claim. Also the house/contents insurance cost was very good too and much cheaper than the other quotes I got so it was a no-brainer considering the bike cover too.

 

[fossyant]

I use Co-operative. Normal insurance covers bikes upto £1k each, then I have an additional bolt on policy for two of the bikes that cost more. Cost of the two bikes is about £120 a year, and £120 for the house contents.

 

[Enw.nigel]

Sheila's Wheels here. I had two bikes stolen last March from my shed and they paid up to the insured value without any problem. Up to £500 for a non specified item and paid the full amount that I had specified for the named bike.
I made the mistake of under insuring the named item, By the time you take into account accessories - bottles, cages, pump, pedals, saddle bag, tubes, multitool, computer etc it soon mounts up. So make sure you add everything up plus the value of a replacement bike (which might be more a year down the line) when deciding on the amount to insure the item for.

 

[MacB]

I've just been through this and sadly the M&S option is no longer viable. I got a quote with and without bikes and the difference was almost £900. I kept shopping around but found that the online standard quotes either threw out insanely high costs or just didn't offer the required cover.

Eventually spoke to Barclays Finer and was able to speak to a person who could go away and get a specific quote and call me back. It worked out at an extra £240 per annum to cover the contents of my garage up to £20k. It also gives me away from home cover as long as a sold secure gold lock is used.

 

[ColinJ]

I'm covered by M & S. I think the limit used to be £4k per bike but I just got my new paperwork through and noticed that my cover is reduced to £2k per bike. That's okay for me because I'd only want £2k to replace my Cannondale, and about £1k each for my Rock Lobster MTB or Basso road bike.

TBH - I think the cover is getting a bit expensive. I'm now paying about £500 p.a. for house & contents, bikes in or out of the house, 3rd party damages and legal fees.

PS Oh, I should add that my boiler froze up last winter and burst a pipe causing a mini-flood. The insurance company were quick to pay up for a new boiler and redecoration. They didn't quibble about the costs, once I got a couple of quotes describing the 35 year old boiler as unrepairable.

 

[Davidc]

Direct line home + now only covers bikes up to £1000 and only when they're in a building and locked.

I've been thinking about a separate policy as even only needing £1k it looks cheaper than getting general theft cover on the house insurance.

 

[mark st1]

I found out during claiming that the Mrs has Nationwide home insurance and it covers bikes up to the value of £5000 as standard which after reading of some others experiences seems very good cover IMO.

 

[stevede]

Now that I have 2 half decent bikes, I asked about adding them to my home policy. Valued them at £800 each, covered new for old, no security restrictions for the princely sum of £10 each.

E-Sure.

Regards

Steve

 

[P.H]

Co Op for me, bikes under £1,000 covered on the normal personal possessions part of the contents policy and bikes over £1,000 covered as named items for a supplement.

 

[vickster]

I am with Sheila's Wheels - don't need to name bikes under £500. Covering the bikes doesn't cost me too much more. Mine are covered away from home which seems to make sense as they are rather more likely to go awol or get totalled elsewhere! Two of my bikes live in the house, one in the shed I have quite a big excess to keep my premiums decent

 

[Alembicbassman]

Tesco have bike cover up to £500 per bike for an extra £15, which suits me, covers theft/damage home and away provided the bike is locked up (no standard of lock specified). Covers bikes in locked outbuildings too. Got the whole house (3 bed detatched in Yorkshire, no garage) buildings and contents covered for £115 plus my Clubcard points.