[Closed] Insurance. Pedalcover alternatives?

Our renewal's due soon too and I just completed their online form which asked me (for the first time ever I think) to name and list all our bikes plus a replacement value, ahead of them generating our renewal quote. Putting two and two together, I guess this requirement's because of this new underwriter. Doesn't fill me with confidence that the renewal's going to come in competitive this year.

Can't say I'll be surprised if insurance for bikes in general has increased over the past 12 months given the frequency of thefts I hear about.

And the rising cost of replacing the sodding things, if you can even find any in stock.

Did they say who they've moved to? It was Axa before I believe.

Ours has also gone up this year for the first time since we left M and S to go with them due to change of underwriter. Ours is now underwritten by LV, previous was by Alianz

I just used a price comparison site, listed the bikes with values, and cover away from home. I think it was aviva that I went with. John Lewis was previously good but after a couple of years with them the price went through the roof!!

Edit
Esure not aviva!

Bikmo
Seem to be pretty good at claims from what I've heard, easy to cover and increase / decrease value of bikes online. You can insure accessories as well as bikes and cover you for all aspects of riding. 5% off following the below link.

https://bikmo.com?ref=YteipMx

I went with Halifax last year as pedalcover premium was getting silly.
I saved about £300 over the year.

Aviva - better cover in some ways than Pedalsure, I have just upped bike limit to £4k per bike an it added nothing to the cost.
We do pay £400+, but that includes all 8 bikes and £10k gear away from home.

Ouch. Just tried a Bikmo quote and more than twice my current entire home/contents/bikes Pedalcover policy. Sums up what I've generally found in the past with bike-only insurers.

https://www.barclays.co.uk/insurance/home-insurance/

can do bike only cover, and up to £5k/ bike (you just tell the the value of the most expensive one)

Another Halifax-er here as I can specify the value of the most expensive bikes with make and model and they are covered to that value; any bike under £500 in value is covered on a blanket cover basis...thats none of my bikes (please don't tell Mrs Fazzini), neither of Fazzini-jnr or Fazzini-jnr-jnr's bikes, and only one that is under that value.

I went with Halifax last year as pedalcover premium was getting silly.
I saved about £300 over the year.

This 👆

Just had a claim through pedal cover/axa for water damage from a frozen water main.

Woeful.

It took me losing my shit for them to even register the claim.

Knocking back the agreed settlement (by the man on the ground)cost as they decided (in their office)that the materials I'd used to build my house were too expensive for what they were......

Still waiting on a final settlement declaration so I can claim my excess back.

Ended up doing the work myself and claiming cash after they decided that 3 weeks was an acceptable time to be without running water with a 2 year old.

Axa are added to admiral on my list of absolutely hopeless insurance companies

I just used a price comparison site, listed the bikes with values, and cover away from home.

This, and have done so for the past few years (MoenySupermarket I think, and it saves all the details so you don't have to plug them all in every year). Also ended up with ESure.

M&S if have an expensive array of bikes to cover. Way cheaper than than separate bike cover and the away from home cover just requires the most expensive bike to be declared and they are all covered up that max value. No need to provide an inventory or worry about custom builds changing over time. They aren't the cheapest home insurance but factoring in the options to cover all the bikes I think they are pretty good value. And cheaper for me after pedalcover got silly.

We were with Pedal cover for quite a few years and changed due to new underwriter and listing bikes separately and reduction in the cover too (can’t remember specifics, but not new for old, and worse for older bikes, which a lot of ours are). Saved a good few £100s and got much better overall coverage now with Aviva found through a comparison site. Just followed moneysavingexpert and did the first one or two comparison site checks. At least I already had the list of bikes and values prepared for the renewal with pedalcover - getting this sorted was one of the reasons I put off looking at other options in previous years as wasn’t needed with pedalcover!

Aviva plus after pedalcover couldn't offer us a renewal after a break in (handled well by AXA). Our renewal came through recently and had jumped by about 2 quid so we just let it roll on.

Ensure or Aviva have been painless and cheaper for bikes added as specified cycles the last couple of years.

Avivas claims service was excellent

I've never been sure but presumably the value of the bikes should be what it cost you not the RRP of all the bits. Then if you've got new for old cover and the new prices are more it should not matter.

Barclays.
Upto £5k cover on most expensive bike, no upper limit, accidental damage, cheap.

Bad experience with Pedalcover here too. Great the first year, terrible on renewal. Went with Barclays last year - really good bike coverage as others have said. Renewal was up this year but still better than most of the others when I did a comparison.

Been with Pedalcover for several years but this year the renewal price went up by £100 so looked around and ended up going with Saga. Much cheaper than Pedalcover with same cover.
Why would anyone one in their right minds go with Bikmo !! Just got a quote for my 2 bikes and cost was more per year than complete house / building insurance with bikes.

Just changed from Pedalcover as their new underwriter decided my house was now in a flood risk area even though none of the other companies have. Went to M&S as they covered everything I needed and were almost half the price.............

Thanks for the tips everyone. I've passed it on to the boss who will hopefully take over while I'm stuck at work.

I have been with pedalcover for about 5 yrs now. My premium went up about£100 on renewal this year. I ended up renewing, I received an email from them a few weeks later to say they had cocked up and quoted for contents only. They agreed to give me full cover because it was their mistake but I dread to think what the price would have been if they had got the quote correct!!

Will probably and up moving next year.

Do M&S cover bikes locked to a car or inside a car? That was one of the main reasons I went with pedalcover as many other insurers wouldn’t cover bikes if they were inside a vehicle or locked on to a car.

I was paying Halifax over £1k year house insurance with 2 bikes specified (2k and 3k value)
Switched to Aviva for around £500 year with no limit on number of bikes and maximum single value of £5k

Ended up with Hastings Premier (or whatever their ‘premium’ product is called), after Pedalcover’s renewal skyrocketed, combined with the introduction of the discounted payouts for bikes over 5 years old. I only really had one which was really worthwhile. Shame, liked their ethos, but it seems much like M&S 10 years ago the underwriter soon realised that being the insurer of choice for people with lots of expensive bikes is not lucrative!

Been with Aviva since M&S were the place to be (well, up until they weren't). Pedalcover came back a few quid more expensive until I realise they hadn't included building cover, turned out they were twice as expensive.

Bikmo
Seem to be pretty good at claims from what I’ve heard, easy to cover and increase / decrease value of bikes online. You can insure accessories as well as bikes and cover you for all aspects of riding. 5% off following the below link.

There are 10% off codes easily findable online too. Above poster might miss out on some kind of kickback though.

Do M&S cover bikes locked to a car or inside a car? That was one of the main reasons I went with pedalcover as many other insurers wouldn’t cover bikes if they were inside a vehicle or locked on to a car.

Also interested, or any other alternative that covers this. I know bikmo does.

Like others i had pedalcover for a year 2 years ago then premiums went through the roof.

Went with esure, all bikes declared named and agreed value

When i bought the HB130 the premuim came down as a new one is less than a new nomad was.

Still best value and cover I can find on any comparison site.

Also interested, or any other alternative that covers this.

Almost certain my Aviva cover does.

We ended up going for Halifax. Pretty comprehensive home and contents insurance with bikes at home and away. Maximum value of 5k per bike.

£270 versus £490 from Pedalcover.

I probably couldn't rebuild my exact bike for 5 grand but I built it at trade anyway so if I'm silly enough to lose it I'll take it on the chin! I might have to shop around next year if I buy an e-bike. There's definitely one of those in my future, just not sure how soon.

Just confused.com it
same every time this is asked. Bikes go on as specified items if they fall outside the pedal bike value. Site saves all your details so simple t do every year.

name and list all our bikes plus a replacement value

Standard for specified item cover.

With Barclays here, the bike cover as said seems to be "limitless" with the most expensive bike covered. Not sure how that would translate in the event of a claim but they're obvs not a tin pot company. They were cheap, too. Too good to be true??

@sharkattack

We ended up going for Halifax.

This afternoon’s job was to sort this, Halifax won.

My renewal with Admiral..... £680 🤣

£320 with Halifax for better cover including an extra bike.

many other insurers wouldn’t cover bikes if they were inside a vehicle or locked on to a car.

You'd be surprised that most do, I usually change insurer each year and a lot of them do cover it, there might be a nuance but I've certainly not found one that won't cover a bike being locked to an immovable object such as a bike rack locked to a car.

I’ve certainly not found one that won’t cover a bike being locked to an immovable object

Whilst I'm not sure most would cover this it's not especially unusual (I had a discussion with esure about bikes *in* a car last year at renewal, I didn't like the answer)

such as a bike rack locked to a car.

Given how easy a bike carrier is to remove I'd certainly want to check if they considered that to be immovable.
From asking at renewal times, internally in a locked car, seat rails counted with some, others didn't consider then immovable as you could take the seats out.

All that being said, policies, underwriters, exclusions and inclusions change noticeably year to year.

The big thing is check what's in your policy when the renewal comes up, just because last week it was covered for someone else is not an indication it is in your policy.

eSure were the cheapest for me last July, and just paid out generously without quibble so they get my vote.

Apologies for putting all your premiums up 😀

Any positive or negative gotachs with LV= insurance I need to be weary of?
As ever, trawling though policy documents has left me more uncertain than when i began!

another vote for e-sure. i think my monthly premium s something like £23 for buildings, contents and with £12K of bikes as specified items covering all the main risks in need (theft from outbuilding, theft form vehicle etc etc)

Halifax. The cover is pretty good but I'm not convinced it's the best price wise. Need to shop around again I think.

I need to move this year as Co-Op suddenly stopped the 'extra' bit of the policy. They cover individual bikes to £2.5k which covers the two MTB's, but not my handbuilt 'best' road bike. It would cost about £5k to get another built but I can't get any reasonable quotes. £500 for one bike that hardly get's ridden - probably 10 times a year - it's more than both cars combined.

Barclays - All bikes upto £5k per bike is just over £9.30 a month for me. This is bike only cover.

Went with M&S for the house exc bikes and went with LAKA for the bikes. LAKA has a different underwriting framework where the community take care of it. So far I've paid in less than the max monthly payment. Can cancel at any point.

If any one is interested in a code drop me a line. Gives you and I some money off month 1.

I may just take Barclays up on bike only cover as Co-op have been OK on other stuff.

Timely thread this - I've just gone with the Barclays £5k bike / home insurance. £220 vs £360 Pedalcover (which was £260 last year).

I’m with Barclays bike insurance too, about £10 a month, and will cover all 4 bikes. The costs from specific bike insurance companies is astronomical in comparison.

many other insurers wouldn’t cover bikes if they were inside a vehicle or locked on to a car.

You’d be surprised that most do, I usually change insurer each year and a lot of them do cover it, there might be a nuance but I’ve certainly not found one that won’t cover a bike being locked to an immovable object such as a bike rack locked to a car.

Locked in a car is totally different to locked to a rack outside the car
Bizarrely most insurers cover the later despite it being arguably easier to steal the bikes from a rack but very few cover the former, even if bikes are locked to a fixed point inside the car
Pedalcover did, and that was why I was with them for 5 years
Halifax also do, providing bike is not obviously visible
I had weeks of trying to sort this years ago as I used to take my bike with me when working away so it would often be left inside the car in hotel car parks, less of an issue now I have changed jobs but still nice to know you are covered. I very rarely have the bike on a rack and would never leave it unattended if I did, I’ve seen how quickly a bike can be pulled off a rack and the damage it can do to the rack and the car

Pedal Cover has told me it's not new for old, itcs non depreciating cover. You cover for the RRP of the bike when you bought it and if the price goes up, you have to take it on the chin. Not easy to do trying to remember the RRP of each and every part on a custom build!

Any positive or negative gotachs with LV= insurance I need to be weary of?
As ever, trawling though policy documents has left me more uncertain than when i began!

Any specific questions, just go on the website and use the chat. I asked mine about coverage in a separate garage (it came up in a previous insurance thread) and got an answer straight away.

Pedal Cover has told me it’s not new for old

Specified Item cover on alllll the policies I've taken out in the last 10-15 years has covered an item for the value you (ahem) specify. Doesn't matter whether its a bike or a designer handbag.

Yep, that's what I'm struggling to get my head around. If I want to pay a premium that gives me X amount of cover if item A is stolen, what's the problem?

Also with Aviva as herself (and MCTD) get a deal with them for being a public servant.

We're not up for renewal for a while but I always keep an eye on these threads for tips (so thanks everyone).

Those saying Barclay's bike only insurance, does anyone have a link? I just seem to be finding home insurance policies.

I've been with Aviva for several years now. House and bike insurance premium <£200 per year. Covers multiple bikes up to £2.5k (each) which is plenty for me.

Specified Item cover on alllll the policies I’ve taken out in the last 10-15 years has covered an item for the value you (ahem) specify. Doesn’t matter whether its a bike or a designer handbag.

Have you ever actually tried that though? Eg car insurance requires you to provide a value but they will only pay out on their valuation so you can't insure a Ford for ferrari money then "accidentally" wrap it round a tree.

It's not car insurance*. It's house contents insurance with specified items. If in doubt, do the online chat.

*car insurance takes into account devaluation.. car insurance is a legal requirement, so is a massive con.

PedalCover have just told me that they won't renew my policy, apparently NIG (the new underwriter) think I live in a subsidence risk area. What that's got to do with contents insurance, i don't know?

Maybe they're worried all your stuff will get squashed when the house falls over?

Quidco compare got me the home insurance (buildings and contents) from esure for £140. Accidental, new-old, legal etc etc. Bike valued at £2k covered away from home too.

And I get £28 cash back in 3 months or so

Timely thread, looks like I'll go with esure - for better bike cover at a lower price.

The revised Pedalcover terms (you get what you paid for it) don't really work well for those of us who've put together a nice custom bike with a string of bargains and a secondhand frame.

@John_l Thats interesting as I have had exactly the same message. Nobody in my neighbourhood is aware of any subsidence risk...

+1 for Barclays.

Have been meaning to get around to this for a while, so thank you to all posters for your input - wouldn't have immediately thought of Barclays for this sort of thing.

Very simple procedure. Good value. Excellent level of cover. Have looked at the policy documents quite closely and it all seems in order.

Now have our Pedalcover renewal and it's marginally cheaper than last year, didn't anticipate that given the comments here.

However, taking a bike-only policy with Barclays then using comparison sites for buildings/contents without bikes works out £120 cheaper all-in. Yet to read through Churchill's Ts&Cs but at least it's a company I've heard of (oh yus).

Having bikes on separate policy to the house/contents sounds better to me - makes it easier to shop around for house/contents in future without having to consider the bikes. But am I missing some obvious downside, other than potential for multiple excesses in the event of e.g. a break-in that involved both bikes and house contents?

I'm surprised it's cheaper to get separate policies, that might indicate that you could get a cheaper combined policy by shopping around?

Also, do note the changes to Pedalcover's, erm, cover for bikes - due to the change of underwriter.

I was surprised too. Already shopped around for combined policies and Sheila's Wheels and esure both cheaper than my Pedalcover renewal, but still £50 more than separate policies would be. Strangely Barclays aren't competitive for a combined quote.

And yes, I definitely need to read more into the changes to Pedalcover's pedal cover - doesn't sound good as "The revised Pedalcover terms (you get what you paid for it) don’t really work well for those of us who’ve put together a nice custom bike with a string of bargains and a secondhand frame." doesn't work for me either - custom builds only for me.

NIG (the new underwriter)

if NIG are the new capacity provider for pedalcover's scheme, i'd make sure you go through the docs with a fine tooth comb. if their personal lines policies are anything like their commercial policies they will be full of warranties, conditions and exclusions and their claims service isn't sparkling (again, only have experience on the commercial side though). personally it being NIG would be enough to make me look elsewhere

Yeah, I could see documenting the value of my bikes being a right ballache if I had to make a claim. And the general tone made me fear they might be awkward about it.

Ally - Might be worth trying esure.

My pedalcover renewal is similar pricewise but the cover does not look as good.

If I read it correctly Barclays does not cover theft from inside or on top of a car (though it also does not specifically exclude either).

The shortlist is now down to Ensure and M&S. Possibly Hastings if I could ever get them on the phone (on line doesn't let me specify all items). You'd think someone would pick up the phone for new business. Maybe that's a sign.

For those who have taken out policies with these recently, is there anything in policy document that raises alarm bells?

Good timing this thread!

Those with esure - Are you sure the bikes are covered locked in a car/van overnight?
Just tried to get a quote and they've said I won't be covered with bikes locked away in a van.

Those with esure – Are you sure the bikes are covered locked in a car/van overnight?
Just tried to get a quote and they’ve said I won’t be covered with bikes locked away in a van.

It's closing on a year ago but that aligns with my conversation with them at last renewal. Basically "The exception clause as applies to theft from a motor vehicle takes precedent as its an exception to cover" eg your bike/imac/20carat ring is covered to (Iirc £450) the limited max if nicked from a vehicle despite being a specified item. Bikes are covered overnight locked to a lamp post beside the car though 🙄 laptops from bags, jewelry from hands etc, just not from in a car.

Thanks @dangeourbrain

Looks like it's the same with M&S. Bikes covered at home but not covered when left unattended in the van...

Don't read too much into that @yorkshire89 or take it as fact, as I say, closing on a year ago and these things do change but that's my experience at least.

I specifically checked my bikes would be covered in a locked van, if not visible from outside, and the esure lady confirmed they were (after originally saying not).

Perhaps I should look at the policy wording in detail though.

@Mat Yes, that's right. On the 2nd page "Your Cover", select "Other types of cover", scroll down to select "Bike". Gives you the option to bolt it onto a policy or just have it as a stand alone one.

https://insuranceportal.av.qs.online-insure.com/bain/Quote/YourDetails

Re Esure, I was told on the phone that bikes would be covered in the locked car providing they were covered/out if sight. I'd want it in writing though.

I specifically checked my bikes would be covered in a locked van, if not visible from outside, and the esure lady confirmed they were (after originally saying not).

Oh my conversation, start to finish, was they *are* covered, the issue was all claims from a motor vehicle are capped at the exception limit. So yes, covered, but only really for a fraction of the cost.
If I were to guess I'd say largely down to the number of valuable items "left in vehicles which were stolen", a bit like the number of missing suitcases which contain wallets full of cash and 5k of DSLR etc not just a week's worth of washing.

So hang on a sec, were you talking about bikes as specified valuable items on the policy?