Who ensures your bike(s)?

[MissyR]

I'm looking into insurance for our new bikes. Who insures you and what price should I be looking at?

 

[slowmotion]

I put ours on our household contents insurance. I think it cost £22 for £1500 of cover. The small print/weasel clauses were a lot less shifty than those on my previous bike-specific policy. Just make sure what they will do if you make a claim. Losing a no claims bonus on a household policy could be pricey.

 

[summerdays]

Ours are on our house contents insurance, and any that are over £300 (not sure of the exact amount), are listed individually. Didn't seem to change the quote much.

 

[rb58]

M&S house insurance.

 

[Hill Wimp]

Direct Line house insurance. So long as none of them individually are worth more than £1000 there was no extra charge.

One was bought for more than that but the value drops very quickly if you are talking replacement.

 

[Drago]

Allianz house insurance, cover extended to specifically cover the bikes (frame numbers listed) with agreed values.

 

[shouldbeinbed]

Allianz house insurance, cover extended to specifically cover the bikes (frame numbers listed) with agreed values.

This but wirh Legal & General

 

[srw]

A cycling insurance sticky:
https://www.cyclechat.net/threads/insurance-and-cycling.118438/

The right insurance company for you might not be the right one for someone else. The key factor for theft insurance isn't the price, it's the quality of claims service.

 

[Cuchilo]

Ive just got BC third party cover . The cost of insuring for theft seemed too expensive for me and its very rare for me to leave my bikes unatended .

 

[BrynCP]

My bikes are insured with CycleGuard. It's expensive* though, £127 for £1800 of bikes. I have separate cover with British Cycling for third party.

*That's expensive compared to normal house insurance cover, they were the cheapest compared to other cycle insurers. Due to a flood many years ago we have limited cover options on the house and they refuse to cover bikes above £300

 

[HarryTheDog]

I looked into this a long time ago, house insurance is the cheapest and sometimes costs nothing at all to insure your bike whilst its at home. My bikes ( the family has 13 all together) are on our direct line house policy we pay a whole 20 quid more for the more expensive bikes. It only insures them if stolen from the house, it is great though as new for old.We had 2 bikes stolen last year , they paid up no fuss at all. To insure them away from the house is prohibitive, as @BrynCP said One bike of say 1800 value would cost about150 quid a year, this is Essex may be cheaper somewhere else. I can insure a mororbike or car for that. I have insured a new bike before but after the first year it was not worth it as I found the companies I looked at devalued its replacement by nearly 50%. Also there were so many rules, Gold standard lock, must show the keys and reciept for the lock if bike stolen. Of course I have had a bike stolen ( from work) with no insurance. Was 6 months old and put me 800 quid out of pocket.( had cctv of the thief, police would not even look at it cos black and white footage) At that point I would have wished it insured but we have so many bikes it was not worth insuring them all as the cost of insuring them I could have bought a very good bike every month.
As your bikes are new it may be worth insuring them for the first year at least. If your bike was in Essex I think you would be looking at say 150 per year plus 150 for a gold standard lock. Which is bloody heavy and you are not going to want to carry with you anyway so kind of pointless.

 

[MissyR]

I had a look at some quotes last night between the two bikes the value is £5,000 and its costing more than what it is for our car!

 

[Drago]

I'm covered away from home. I don't remember the exact cost, but with the bikes specifically listed and valued on the policy it was only something like 4 quid a month difference, not enough that it came close to being prohibitive.

 

[vickster]

Zurich home insurance through the AA. Don't think it costs much given my full contents and buildings costs me under £400 in a London borough, they cover all bikes up to £1500 unnamed, over £1500 named

Away from home cover and accidental damage

 

[HarryTheDog]

I'm covered away from home. I don't remember the exact cost, but with the bikes specifically listed and valued on the policy it was only something like 4 quid a month difference, not enough that it came close to being prohibitive.

I found this interesting so rang direct line to see what the state of my insurance was as to bikes. Turns out my bikes are insured away from the home up to a value of 500 quid. In the home 1,000. this alarmed me as last year they paid out 1,500 for a bike I had nicked out of the garage. Seems the policy rules have changed. So I asked how much just to insure one bike away from the home. was 3,500 new probably 2,000 now. They dont do new for old so would be insured for 2,000 or what they consider the market value. They wanted 114 quid. for a year. I pressed them on the rules, has to be in a locked building or secured with a security device but does not state the level of the lock ie gold, silver etc.
So looks like I should have kept a better eye on my policy. I cant change my house insurance really as i had subsidence and no one else will give me reasonable quote now. I'll have to think about this one. Cheers @Drago