Just another bike insurance thread

[Leodis]

Just replacing my commuter and previously had/have Cycleguard insurance which jumped by about 20% in price a month this year and it got me thinking (which is dangerous)... I have a Krypt NY STD lock with cable to a Sheffield stand with security and cameras at work and its the only place I leave it unattended, its locked in my house every night and I very rarely leave on the street, do I really need theft insurance or should I just join CTC or BC with 3rd party included? I really cannot see me carrying a rated lock on summer sportives or longer rides just for the insurance as I will be welded to the bike anyway.

Your thoughts?

 

[vickster]

Home insurance

 

[classic33]

Home insurance

Might not cover the full value of the bike. Bikes are cheap remember!

 

[vickster]

You have it as a named item, but there will be an excess

 

[Leodis]

Thanks, will check home insurance with the wife.

 

[Pale Rider]

Home insurance for me, top.

Relatively straightforward: max value £2K and the main stipulation I can see is the bike is 'tethered' while left unattended.

Strictly, that includes inside the house where the bike lives overnight.

I don't lock it then, so if the bike is nicked from the cupboard under the stairs while I'm in bed they might not pay the claim.

Just call me a risk taker.

 

[Leodis]

Home insurance for me, top.

Relatively straightforward: max value £2K and the main stipulation I can see is the bike is 'tethered' while left unattended.

Strictly, that includes inside the house where the bike lives overnight.

I don't lock it then, so if the bike is nicked from the cupboard under the stairs while I'm in bed they might not pay the claim.

Just call me a risk taker.

*puts on stripe jumper and grabs swap bag*

 

[mattobrien]

Home insurance for me too and what was even better, when I added the bike to the policy they didn't charge me anymore. They will get my business again next year.

 

[Jaco45er]

Home insurance here too. However I do own a trek ex9 that cost £2,900 but my home policy only covers each bike up to 2 grand (as someone stated before), and they need to be locked.there was no extra charge on the policy, ok so if the Trek goes I will be £900 down, but life is full of risks .

I have no cover outside the house, as I am always with my bikes when out (sweet I know, sounds like a love story ), but I think I would separately insure them if I took them on a holiday say.

As for all the other bike type insurance, public liability, legal etc etc, pfffffft, there is a concept known as over insured !!!!!!

 

[spen666]

Home insurance here too. However I do own a trek ex9 that cost £2,900 but my home policy only covers each bike up to 2 grand (as someone stated before), and they need to be locked.there was no extra charge on the policy, ok so if the Trek goes I will be £900 down, but life is full of risks .

I have no cover outside the house, as I am always with my bikes when out (sweet I know, sounds like a love story ), but I think I would separately insure them if I took them on a holiday say.

As for all the other bike type insurance, public liability, legal etc etc, pfffffft, there is a concept known as over insured !!!!!!

which insurer is that?

 

[Jaco45er]

That was Barclays mate.

I went direct to them, even brokers couldn't match their policy, they were £22 a month contents, Santander for like for like we're over £40 a month. I was surprised but I did find them the cheapest.

 

[vickster]

I am with the AA through confused.com (Zurich underwriter I think), the two bikes under a grand do not need to be named. I also have away from home cover and accidental damage. My cost was under £300 for contents and buildings.
I think the excess is £150 with no specific conditions around locks

 

[ComedyPilot]

Home insurance for me (lower value bikes than most) and I have Audax UK cover for events.

I am considering something like CTC or BC insurance though for commuting and general cycling cover as a just-in-case.

 

[vickster]

I have BC cover, but only offers 3rd party, no personal cover. I don't really plan on riding into anything or anyone however!

 

[400bhp]

Home insurance here too. However I do own a trek ex9 that cost £2,900 but my home policy only covers each bike up to 2 grand (as someone stated before), and they need to be locked.there was no extra charge on the policy, ok so if the Trek goes I will be £900 down, but life is full of risks .

I have no cover outside the house, as I am always with my bikes when out (sweet I know, sounds like a love story ), but I think I would separately insure them if I took them on a holiday say.

As for all the other bike type insurance, public liability, legal etc etc, pfffffft, there is a concept known as over insured !!!!!!

Check whether the insurance company uses the principle of "averaging". That is, they will rate down any claim by a ratio of 2000/2900. So you won't get £2k.