Bicycle Insurance

[£15]

I've been insuring my home contents and buildings with M&S for many years. They've always been the best for cover and premium when it comes to bicycles. However, the premiums have been steadily increasing and the cover changing (used to be wholely unlimited) to make them less and less competitive.

Last year I was paying ~£440 and I've just got my renewal premium through - £699! No claims or change in circumstances can explain such a large increase.

So I literally spent all day yesterday at my laptop getting quotes and it looks like the best (for me) is going to be The AA. Their top policy is pretty similar to M&S's in many regards - unlimted contents and buildings and I have to declare the MTBs, but their premium is 'just' £370 and with £45 cashback via TCB it looks like M&S have finally done enough to lose me as a customer.

Does anyone have any experience of using The AA? Where do you insure your bicycles?

 

[£15]

£2500, £1300, £1000, £750, £450, £400, 2x £250

I called M&S to see what they could do and the answer was nothing. The chap was nice enough but all he could offer was an excess increase to reduce the premium. He commented on how long I'd had the policy as it was no longer available. I replied that's probably why they've increased the premium so much, to get rid of me. He didn't disagree.

So the AA it is then...

 

[£15]

But that's just a case of knowing what you want and reading the policy documents before you buy. Which is a good thing to do regardless. And I think most people don't have bicycles that cost more than some cars!

Insurance companies can make it difficult to understand sometimes, but a quick telephone call is frequently all that is required to establish if a risk is covered or not.

I opted to go with the AA and their 'plus' cover as it's unlimited (don't need to worry about being under-insured), has accidental, away from home (world-wide) and £5000 single item limit (I made sure I declared the £2500 bike, regardless); on top of it all, includes legal and home response, for less than 50% of what M&S were quoting.

There is a clause about thefts from outbuildings/garages - there's a £7500 limit, but I'm just within it.