I want to insure an £800 electric bike (£500 if I remove the battery), looking online, insurance premiums tend to come to around £70, which is too much considering the value of the bike. Does anyone have experience of good insurance companies for bikes? Preferably offering the option of public liability and roadside recovery.
Bicycle insurance?
- Thread starter Energize
- Start date
Is this one of those custom built affairs? Judging by your comment about removing the battery and value of the bike itself.
In my experience, insurance companies want the make and model of bike along with frame number and any other markings. If you have created a custom bicycle, then presumably you could insure it for what you value it at, but that means you are paying a higher premium and should it get stolen, they may only pay you the cost of what the equivalent bike is worth. Also, just like if your handlebars/saddle/brakes etc got nicked, if somebody took your battery, they likely wouldn't pay out for that... the whole bike needs to go really.
I pay about £8 a month to insure a normal road bike which cost over a grand. That includes public liability insurance of about 5 million.
In my experience, insurance companies want the make and model of bike along with frame number and any other markings. If you have created a custom bicycle, then presumably you could insure it for what you value it at, but that means you are paying a higher premium and should it get stolen, they may only pay you the cost of what the equivalent bike is worth. Also, just like if your handlebars/saddle/brakes etc got nicked, if somebody took your battery, they likely wouldn't pay out for that... the whole bike needs to go really.
I pay about £8 a month to insure a normal road bike which cost over a grand. That includes public liability insurance of about 5 million.
No it's not custom built, it's from a company called Wooshbikes.
http://wooshbikes.co.uk/electric-bikes/sirocco-cd/
They are designed with removable batteries so that they can be charged easily and are worth £300 in my case so it helps to reduce the impact of theft.
http://wooshbikes.co.uk/electric-bikes/sirocco-cd/
They are designed with removable batteries so that they can be charged easily and are worth £300 in my case so it helps to reduce the impact of theft.
Can you not check if this is coverd on the house insurance contents. More than have told me any bike up to £1500 is covered.. There was a charge of around £15pa for insurance away from the home. Is pretty common nowadays so give your insurance co a ring
Good idea I hadn't thought of that, thanks I'll check it out.
Well at 30mph there is a potential for a serious accident, and in this compensation culture I could probably get ruined.
As for road side recovery, if you have a puncture in the middle of the country 20 miles from any town it's going to be a long walk back.
Right I was just originally confused why you had quoted two prices. Surely you need to be insuring for what it's worth overall, regardless of whether the battery is attached.
Useful if your bike gets nicked from home, but given how common bike theft is, I think its far better to go with somebody who specialises in bike cover and will replace fast, deal with all kinds of eventualities concerning bikes and not risk rising premiums on home insurance.
Its not just about injuring other people though. It's also about property, if you accidentally did something which damaged the road or street furnishings, you have protection.
Soldato
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Not sure if your joking or not?
I think your being extremely paranoid if your not joking
Well I just thought it would be cheaper to insure £500 than £800, ie I bring the battery into work with me so if the bike is stolen it's just a £500 loss.
He isn't!
Do you seriously think people don't sue for things getting damaged by bikes etc?!
To the op: My home insurer cover mine for theft away from the house and liability so it's worth calling to find out.
Soldato
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£70 over a year is alright. Go for it and don't make the same mistake I did. Mine got stolen within a month of purchase from new 
Of course not...!
You do live in this world right?
If an issue with your bicycle caused you to hit and knock over a a piece of roadside furniture, which in turn damaged private property, you would be liable for the damage caused to both public and private parties. Liability insurance is there to assist you in such a situation.
Usually its only like £1 more on top of the cycle cover, so its a no brainier really.