Premium bike insurance

[Peter Salt]

None of my current bikes really need insuring (low value), but I know someone with a very specific case and was hoping for some advice/recommendations.

• Only insurance the owner currently has is on his car (so no home insurance that would cover contents, for example).
• The bike has been built by the owner - frame, wheels, groupset, etc. all bought separately - there are receipts/invoices/proof of purchase for everything.
• Looking for comprehensive cover - like on a car - so third party liability, accident, theft, probably legal expenses. In case of a full loss - cover for cost of replacement.
• Total cost of the build was around £8.5k.

Would really appreciate pointing me in the right direction.

 

[fossyant]

Looks at household insurance first and see if he can get an add on (this is for theft/accidental damage). Other option is Barclay's contents insurance, but select bikes only - this costs me £10 a month for my more expensive bikes since co-op stopped the 'add on' - Co-Op covers bikes to £1.5k, but anything over is on my Barclays cover.

As for third party, then a membership of British Cycling or Cycling UK covers you for that (e.g. someone suing you for knocking a wing mirror off etc).

 

[roubaixtuesday]

None of my current bikes really need insuring (low value), but I know someone with a very specific case and was hoping for some advice/recommendations.

• Only insurance the owner currently has is on his car (so no home insurance that would cover contents, for example).
• The bike has been built by the owner - frame, wheels, groupset, etc. all bought separately - there are receipts/invoices/proof of purchase for everything.
• Looking for comprehensive cover - like on a car - so third party liability, accident, theft, probably legal expenses. In case of a full loss - cover for cost of replacement.
• Total cost of the build was around £8.5k.

Would really appreciate pointing me in the right direction.

Just from first google hit, but these people say up to £15k and will accept an LBS valuation for bespoke bikes.

https://www.eta.co.uk/bicycle-insurance/

 

[Peter Salt]

Looks at household insurance first and see if he can get an add on (this is for theft/accidental damage). Other option is Barclay's contents insurance, but select bikes only - this costs me £10 a month for my more expensive bikes since co-op stopped the 'add on' - Co-Op covers bikes to £1.5k, but anything over is on my Barclays cover.

As for third party, then a membership of British Cycling or Cycling UK covers you for that (e.g. someone suing you for knocking a wing mirror off etc).

Household insurance may be a bit messy in this case. Bike owner actually has a few properties, all insured, but also all being lend. He is renting a property himself. Crazy world, innit?

Just from first google hit, but these people say up to £15k and will accept an LBS valuation for bespoke bikes.

https://www.eta.co.uk/bicycle-insurance/

Would be good to hear if someone has experience with them. LBS valuation makes total sense.

 

[EltonFrog]

Household insurance may be a bit messy in this case. Bike owner actually has a few properties, all insured, but also all being lend. He is renting a property himself. Crazy world, innit?


Would be good to hear if someone has experience with them. LBS valuation makes total sense.

Out of curiosity I just did a quick quote on that site. 185 quid to ensure my Trek Domane. I don’t want the insurance, my bikes are insured with TSB for about three quid a month, but that firm phoned me within ten minutes to see if I had any questions and to get me to buy. I hung up and blocked the number.

 

[vickster]

I have ETA cycle rescue, great service the one time I have used it.

I'm in the process of switching to MBNA for my household insurance, they cover bikes up to 10k, new for old, Would have to add indemnity and legal however through a separate organisation.

Why doesn't this owner just ask the company he uses for insurance at his current address for a quote or does he really not have any cover for any of his belongings??!

Otherwise try the likes of Bikmo but prepare for it to cost for 8.5k cover (presumably he races the bike/does events, will need cover for that too)

 

[Peter Salt]

I have ETA cycle rescue, great service the one time I have used it.

I'm in the process of switching to MBNA for my household insurance, they cover bikes up to 10k, new for old, Would have to add indemnity and legal however through a separate organisation.

Why doesn't this owner just ask the company he uses for insurance at his current address for a quote or does he really not have any cover for any of his belongings??!

Otherwise try the likes of Bikmo but prepare for it to cost for 8.5k cover (presumably he races the bike/does events, will need cover for that too)

OK, good to hear some positive experiences. I think it's at least worth looking at.

Some folks mentioned Barclays offers a good bike insurance, but that unfortunately covers for bicycles only up to £5k.

He has landlord insurance on a number of properties but no tenant insurance at his address - I think that's because, apart from the bike, there's nothing really valuable at the address. Still, probably worth exploring.