Just another bike insurance thread

[Jaco45er]

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.

Cheers, I will check that out. As if an insurance company would want to get out of paying out

 

[400bhp]

Why should it? You have under insured your risk

 

[vickster]

When my bike was nicked, I was paid the replacement value, plus accessories fitted but less the excess (which is as it is)

 

[byegad]

A few years ago my then house insurers declined to cover my trikes, they set a maximum value limit of £1000. I was paying extra to cover my bikes with them anyway, so I shopped around and ended up with the Coop insurers for the house and didn't cover the trikes. So far, I've saved the price of 1.5 trikes, taking the average value of the three in premiums not paid to Cycleguard or any other competitor. Premiums are typically 10%+ of the value of the bike(s) with restrictions on the locks I must use and an excess in the event of a claim. I can just about afford to replace a trike should one go missing and the likelihood of all three disappearing from the house is remote as they are all locked into an area and locked to a ground lock with 6 top quality locks. So I'm able and prepared to take that risk.