D0 you have cycle insurance?

Most house insurance will cover bikes up to £1000.
You can usually pay more to have more expensive bikes listed as well, which is often cheaper than a specific bike insurance policy.
 
I did have a specific policy for four years. Recently cancelled it when I got my latest renewal invite for three reasons:

- I'm not currently using it for commuting, which is where it was most exposed to the risk of being stolen. That was the main reason I insured it, and given its not at the moment likely to happen, it sort of dawned on me that given I haven't made a claim, its slowly adding up to the cost of a bike over the years.

- The latest renewal now states that due to the bike being over three years old, they are going to start depreciating it, so in the event of a payout, I'd get less. Which was annoying given that even a full payout for what I paid for it at the time wouldn't get a bike of the same spec anymore.

- I joined British Cycling and get their 3rd party insurance and legal assistance just by being a member.


I can through British Cycling get a significant discount on a policy, which is actually with the same broker. I may take one out again should I use it for commuting again, decide to take it abroad or do any race events.

Having specific cycling insurance does have its benefits. Friends who have claimed have been able to get a new bike very quickly and being specialists they know what they are talking about.
 
At this time we do not have house insurance.

I did a quick quote and it was coming back £90 a year for the house insurance.
I must done something wrong as that seems to high lol.

@Nexus I will be using it for going to work and most other places a lot when I do get one that is for sure.
It will my main transport and my gym membership replacement.
I look into about British cycling see what my options are.

Thanks.
 
Last edited:
GothicGhost said:
At this time we do not have house insurance.

I did a quick quote and it was coming back £90 a year for the house insurance.
I must done something wrong as that seems to high lol.
Click to expand...

I'd recommend getting home insurance before even buying a bike. Even if you don't get contents and accidental damage over, it could save you a fortune if something bad happens in your house.
 
£30 for a £300 bike seems very expensive. It costs us an extra £9 a month to put 3 expensive bikes on our home contents insurance, covered anywhere in Europe.
 
specific bike insurance can cost as much as home contents insurance which will cover bikes anyway (check the home contents small print for any specific security requirements).
 
I had a separate policy for my bike for a while, but I was in a similar situation as Nexus and so I cancelled it. It was £109 a year for a £1000 bike, which was daft compared to the cost of a British Cycling membership (for 3rd party liability insurance) and adding the bike to the home contents insurance. Now I have somewhat more expensive bikes, it would make even less sense to insure them separately.
 
Have looked at bike specific insurance many times but it's not cheap.

Have my bikes covered under the house insurance (currently with Barclays), though I usually lose the will to live at renewal time as I end up wading through all the policy PDFs to read the small print on bike cover. I remember Direct Line looking promising but then finding hidden away they don't cover any bikes worth more than £1000.
 
home insurance - Tesco Finest cover for me - £5000 bike cover at home or away, max £2k per bike. No limit on the number of bikes. That's included in the policy.
 
All the answers are in here already. Get contents insurance, it will cover bikes up to £500 or maybe £1,000 for no extra, and without specifically listing them.
 
#Chri5# said:
Have looked at bike specific insurance many times but it's not cheap.

Have my bikes covered under the house insurance (currently with Barclays), though I usually lose the will to live at renewal time as I end up wading through all the policy PDFs to read the small print on bike cover. I remember Direct Line looking promising but then finding hidden away they don't cover any bikes worth more than £1000.
Click to expand...

Yeah Direct Line are good and fast at paying out in my experience and being one of the largest you know you are well protected. The downside like you say is that they often aren't as generous as others. I've also found they won't budge when you want more cover, no matter whether you state you would pay more, they can't do it.
 
physichull said:
Is there any cover available for accidental damage whilst out on the road? i.e. having crash and wrapping the frame round a lampost?
Click to expand...

You can always try and claim for damage with a specialist policy. With a Home Insurance policy, if you had accidental damage cover then you would be able to make a claim.

Bare in mind though that the insurance company will likely take your bike away to assess the damage as to whether its repairable or needs replacing. If they write it off, you won't get it back.
 
physichull said:
Is there any cover available for accidental damage whilst out on the road? i.e. having crash and wrapping the frame round a lampost?
Click to expand...

check your home insurance again - some do some don't

Mine for instance

Your and your family’s pedal cycles
(listed in your Schedule) are covered for
loss or damage anywhere in the world
during the period of insurance.
The cover provided is subject to the
excesses and maximum claim limits in
the Schedule.
Click to expand...
 
You must log in or register to reply here.
Back
Top Bottom