Theft/3rd party insurance for sub £300 bike. Any thoughts or advice about whether to bother and or w

[Cyclopathic]

I really am undecided about the merits ofgetting insurance so I'd be veryinterested to hear peoples experiences of the whole insurance thing and the relative merits of theft and 3rd party insurance. I am hoping that fire is only a very outside risk and not worth bothering with.

 

[I like Skol]

I think most houshold insurance policies will cover bikes at that level. In my experience they seem to start getting twitchy once the bikes value passes the £500 mark (which means I have 3 uninsured bikes at the moment) but as it is more and more common for people to own bikes approaching 1k in value these days perhaps the domestic insurance industry has changed it's stance since I last looked?

 

[Pauln]

Just added my £500 bike to my home policy as I was just renewing, it is insured at home or away from my home.

 

[killiekosmos]

My home insurance provides basic bike cover (up to £500 IIRC) with conditions - lockud up at home, secured when away from home etc.

 

[Bromptonaut]

Advice above covers theft insurance. Make sure you understand conditions about locking etc in public places and exclusions re sheds/outbuildings etc when it's at home.

Third party insurance (ie personal liability) may be provided as part of your household cover, check that first. Otherwise it's part of the package if you join CTC, London Cycling Campaign or whatever plus you get their resources on your side in case you're the victim of an accident.

 

[apollo179]

Id say dont clutter your life with insurance - just do your best to stop it getting stolen. Basically presuming you arnt going to do anything that makes you liable for any 3rd party damage claims then theft is our only concern and so long as your careful and do all you can then aside from the determoined theif then your only going to lose £300 anyway.

 

[dellzeqq]

Id say dont clutter your life with insurance - just do your best to stop it getting stolen. Basically presuming you arnt going to do anything that makes you liable for any 3rd party damage claims then theft is our only concern and so long as your careful and do all you can then aside from the determoined theif then your only going to lose £300 anyway.

and counterclaims?

 

[chris-s]

If you do take out a policy REALLY make sure you read the small print, even many of the specialist bike insurers have some terms which just read 'get-out-clause'.

It's been mentioned many times, but I'll mention it again, Marks & Spencers home and contents insurance. Their contents policy covers any single item upto a value of £4000 at home, away from home and overseas, simple as that. Nothing requiring your bike to be locked up using certain range of locks, only in certain aeas covered by cctv between certain hours of the day and only on a sunday morning, none of that crap.


Chris

 

[Cyclopathic]

I'd just like to say a quick thanks to people for their ideas and comments.

Thanks for your ideas and comments.

 

[dellzeqq]

If you do take out a policy REALLY make sure you read the small print, even many of the specialist bike insurers have some terms which just read 'get-out-clause'.

It's been mentioned many times, but I'll mention it again, Marks & Spencers home and contents insurance. Their contents policy covers any single item upto a value of £4000 at home, away from home and overseas, simple as that. Nothing requiring your bike to be locked up using certain range of locks, only in certain aeas covered by cctv between certain hours of the day and only on a sunday morning, none of that crap.


Chris

No! (on the hunt for a link......)

(which I can't find). The story is this - Julian and Charlotte insured their bikes with M+S. The bikes were kept in a garage. M+S changed insurers, so that the bikes were no longer covered if they were kept out of the home. All 8 bikes were stolen. M+S refused to pay. Happily the Bike Squad recovered the bikes. M+S have been sent to eternal Bike Insurance Hell.

So the moral is.......small print.