Fredo76
Über Member
- Location
- Española, NM
What are these 'gold' and 'platinum' lock ratings and where do they come from?
Securing bikes to meet home insurance requirements
- Thread starter Danny
- Start date
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Drago
Legendary Member
- Location
- Suburban Poshshire
Whatever next!?
Sold Secure Rhodium? Sold Secure Uranium 239? Or maybe theyll adopt the Russian standard, Sold Secure Polonium.
Apparently Platinum has been superceded by Diamond, which includes greater resistance to grinding tool attack.
Sold Secure Rhodium? Sold Secure Uranium 239? Or maybe theyll adopt the Russian standard, Sold Secure Polonium.
Apparently Platinum has been superceded by Diamond, which includes greater resistance to grinding tool attack.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
No Unobtanium standard yet then !
Sounds more like they are trying to not cover bicycles at all.
Punkawallah
Veteran
No. They want to take your money, but introduce into the contract as many reasons as possible why they should not pay out.
Fair point, well made. 😉
ebikeerwidnes
Guru
- Location
- Widnes
Which is why you need to check every year - even if you just renew
In the past I have come across "some minor updates" that made a big different to me personally
worst case was with dog insurance when I had a dog
I read the policy on wet afternoon and discovered that although they had been quite happy to renew it
it had changed to specifically say it did not cover certain breeds of dog from large section - i.e. most - of the policy
That include Alsatians (GSD in metric) - like mine!!!
I can see the same happening on a House Insurance or cycle plan
Tom B
Guru
- Location
- Lancashire
I have an Asgard Shed.
But...
One of the best bits of advice was ever given was to only buy Defacto 5 star insurance it's just a better quality product and for me was lass than £5 more expensive than a 2 star policy.
When getting quotes in, which I do every year I just rummage through the ones I like until I find the one with the best and least onerous terms. Then, crucially I feel, I email or check with them to make sure they meet my needs (essentially locked inside the shed).
Last year I was with Tesco on their better policies, this year I think it's Aviva. Usually comes in at about £135 for house and contents. I think about £2.20 a week is stonking value.
Last year someone was threating to make a claim against me and it was a comfort to know my max exposure was about £50.
Winston Churchill is quoted as saying.....
"If I had my way, I would write the word ‘insure’ over every door of every cottage and upon the blotting pad of every public man, because I am convinced that, for sacrifice that are conceivably small, families can be secured against catastrophes which otherwise would smash them forever.”
I'd temper that against the nonsense policies and extended warranties that we see today.
But...
One of the best bits of advice was ever given was to only buy Defacto 5 star insurance it's just a better quality product and for me was lass than £5 more expensive than a 2 star policy.
When getting quotes in, which I do every year I just rummage through the ones I like until I find the one with the best and least onerous terms. Then, crucially I feel, I email or check with them to make sure they meet my needs (essentially locked inside the shed).
Last year I was with Tesco on their better policies, this year I think it's Aviva. Usually comes in at about £135 for house and contents. I think about £2.20 a week is stonking value.
Last year someone was threating to make a claim against me and it was a comfort to know my max exposure was about £50.
Winston Churchill is quoted as saying.....
"If I had my way, I would write the word ‘insure’ over every door of every cottage and upon the blotting pad of every public man, because I am convinced that, for sacrifice that are conceivably small, families can be secured against catastrophes which otherwise would smash them forever.”
I'd temper that against the nonsense policies and extended warranties that we see today.
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PaulSB
Squire
- Location
- Chorley, Lancashire
Or alternatively trying to minimise the risk. I've just added two bikes with a replacement value of £15k. All risks, worldwide, new for old. Cost £30.
This is with Aviva who in August 2024 paid out a £7700 claim without a murmur. I was hit by a tractor at 35mph which totalled literally everything except me. Bike, kit, Wahoo, bags etc. The only thing worth keeping was the pump and a Raceware light mount!!!
While I'm sure dodgy, that is cheap, companies do all they can to avoid payouts a decent outfit will take a different view. Cheap insurance comes with hidden costs, often one doesn't get paid, quality insurance comes with the requirement for the policy holder to minimise risk.
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Drago
Legendary Member
- Location
- Suburban Poshshire
Insurers and 'risk' have a curious relationship.
The job of an insurer is to part you from your money, and propensity to spend is their biggest criteria when determining a price.
What an insurer describes as 'risk' is often simply a commercial measure weighted in their favour and demonstrably often bears to relation to the actual likelihood of an adverse event occurring.
The job of an insurer is to part you from your money, and propensity to spend is their biggest criteria when determining a price.
What an insurer describes as 'risk' is often simply a commercial measure weighted in their favour and demonstrably often bears to relation to the actual likelihood of an adverse event occurring.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
I do need to check my policy schedules again ! I sort of have two. Home Contents, then a separate 'home contents' with another supplier, that's just the 'bike extension' to cover more expensive bikes. The main policy lowered the cover after they removed the 'bike extension' so I had to get cover else where.
Must be nice bikes 🙂 What are they?
steverob
Guru
- Location
- Buckinghamshire
They’re not my current insurer but I did get a quote from a cycle specialist insurer last year where they said if the bikes were in the house (not garage or shed), then assuming I didn’t do something stupid like leave doors unlocked or windows wide open when I left the house, they’d be protected up £2000 without needing to be locked to anything, which I was pleasantly surprised by.
fossyant
Ride It Like You Stole It!
- Location
- South Manchester
My additional policy was Barclays, but it's now Aviva Select. Any bike upto £5k each. £50 per year (just checked it off this thread).
Stipulation, bike is in a building (doesn't have to be secured inside it), or when outside is secured to something not moveable, so this is where you need to be careful if camping and securing to a car wheel - strictly not moveable, but it's not a fixed feature. Doesn't require certain locks (although you'd be daft not to).
The only bike I leave anywhere, is my commuter, and that's in a swipe card access bike facility and locked with gold secure locks to the bike mount locking hoops.
Stipulation, bike is in a building (doesn't have to be secured inside it), or when outside is secured to something not moveable, so this is where you need to be careful if camping and securing to a car wheel - strictly not moveable, but it's not a fixed feature. Doesn't require certain locks (although you'd be daft not to).
The only bike I leave anywhere, is my commuter, and that's in a swipe card access bike facility and locked with gold secure locks to the bike mount locking hoops.
Yeah, but what about when you actually take the bikes outside? You know, to go for a ride?
Mine are covered for theft while I'm in a cafe for example (if locked to a fixed object) and any accidental damage.
