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At the moment I keep 3 bikes in the house because our current house insurance policy only covers me for £1,000 in any outbuilding (and £500 away from home.)
The boss now wants her dining room back so they are going to have to go outside, I'm paranoid about the amount of bike thefts that happen and I want to have better cover. I reckon I have 4 choices...
1. Change my current home insurance
2. Use a British Cycling approved specific bike insurance policy *
3. Use a CTC approved specific bike insurance policy *
4. Find an independent bike insurance policy
I'd be looking at about £3,700 to £4,000 worth of cover with a catch 22 situation of wanting to pay as little as possible, any advice please?
cheers
* ashamed to say I'm not in either British Cycling or CTC currently so I'd mainly be joining for the insurance benefits.
Last time I looked at it, bike insurance was prohibitely expensive as a standalone policy. I checked a few out and it was much cheaper on house insurance. That's not cheap though, I'm paying about 5% of bike value with m&s now, the good old 4k value undeclared policies have stopped. All risks still covered though, so stolen or crashed I get a new one. I checked, even includes racing use!
Downide is there though a claim will put your house insurance up. I think a lot of house insurance policies are removing bike cover from outbuildings also, which won't help. I think I'd put more effort into preventing the theft in the first place than flaky insurance that will try and avoid paying out and then give you a wheelies voucher if you're lucky.
I'm tempted to go without next year and just minimise the risk. Bikes live inside though, not sure I'd be as happy if they were garaged.
Try Esure.
4 bed detached, accidental damage cover, legal cover. 3 named bikes at around £4k total.
Policy £217 a year.
I just revised the policy by taking one bike off and adding a £4k bike and it cost an extra £36 but I'm sure most of that was the admin fee.
As a tip use a price comparison website and then ring them as you get a discount for using the web.
Curvature thanks for the Esure heads up - been with M@S for 4 yrs no claims made this years premium £330 ,esure quote with 2 bikes listed at £4500 premium £220 😀
Nice one glad to be of assistance 😉
Just reading the Esure docs. Seems fine for bikes at home but I'm interested in cover for when I'm away. Note, they don't cover sports equipment during use. Also away from home, details specifiy bikes must be locked to a fixed object but does not go into details of this (i.e. would a car rack count?) Also thefts from inside a car must be in a 'locked boot' so unsure if this would cover bikes in the back of a car/van or not.
I've been looking into this lately and I reckon I'll be going with Aviva this time around.
I've just renewed with M&S. 3 bikes declared over their new £1k limit (valued at initial purchase price incidentally) plus £50k cover for stuff away from home (expensive shit mainly) and all the other normal (read dull) stuff. Mid £200's premium and they were A* when I had reason to claim a couple of years ago - which is after all the real acid test.
We are going to switch to john Lewis. All the cover we need for the 9 bikes including expensive full suspensions, accidental damage and away from home.