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I've had a couple of claims in the last 5 years, one of which was only a few weeks ago, and my Pedalcover renewal is pricey. It's gone up by about £200. I'm still tempted to stick with them, because my last claim was for a bike stolen from a vehicle and I know my previous insurer wouldn't have covered it, and Pedalcover were very good for it.
Has anyone any experience of an alternative? They must cover bikes worth over £4k, and theft from a car (for the odd occasion that I've got a bike in the car and am stopped somewhere on holiday) and theft from an Asgard shed. I know plenty of people will have had cover from various companies but I'm specifically interested in those that have actually claimed. It's easy to just buy the cheapest option but the fine print doesn't seem to cover a lot of situations where a bike would get stolen.
For good service you could ring NFU and see what they do, but they are not cheap.
I'm in same situation although my claim was for a bust water pipe - gone up £200. Still need the bike cover, although a lot of mine are >10 years old now and that gets 50% cover with these guys.
I'm the same with Asgard as well.
I've come across Laka, and it looks like going with them for bike insurance and seperate home insurance gets the premium back down. Anyone used them?
Did you go with Laka - looks complicated!
Good to hear that Pedalcover sorted you out.
To be honest, when I went with Pedalcover a couple of years ago there weren't a lot of people who'd claimed!
For what it's worth, I got lots of quotes at the time and Pedalcover were more than £200 cheaper than all the others once you factored in the value of bikes and the need for outside shed cover. I'd previously been with M&S and claimed successfully and smoothly and AmEx (not claimed). I think all these were underwritten by AXA.
I've been trying to get a better quote all day and Pedal cover by far the cheapest at the moment. Axa direct had small limit on bikes, JL were horrific cost, as was lv.
I don't think I'm in a particulalry bad area but I'm looking at upwards of 900 quid!! Last year's escape of water claim seems to be killing me - is that an area of well known fraud or something?
I'm sort of tempted to try Laka - if I pay their typical rate I'll save a couple of hundred quid. I've been scouring the web for bad reviews of it and either they're very active at removing them or they're genuinely good, and not many people seem to have paid the maximum rate and some months people pay nothing.
I should add that Pedalcover were good - from reporting it to them and getting the payout was about 2 weeks. Darren, the boss, phoned me up before issuing the renewal to tell me to brace myself - my second claim combined with a risk assessment of the buildings in the area by AXA meant that the quote for the next year was going to be high, but said he'd be alright with just offering us contents insurance.
My renewal is about £950 for buildings and contents, AXA buildings quote was mad though. About £400, whereas Legal and General are £156.
My home insurance renewal is coming up - and this time I want to get insurance to cover the bikes, inc from outside brick built shed. The bikes aren't crazy expensive, 2k / 2.5k but enough £!
Are people generally finding it generally cheaper to go with 2 different policies, home + specialist bike rather than get everything covered under home?
I still have M&S despite the change in terms - mine actually went down £200 this year - and thats with paying a bit extra for full bike coverage. £400 total for all risks on bikes and contents.
Looking at Laka - how do you get a quote? I click the button and it takes me to the top of the homepage - link is referencing itself.
My pedalcover went up significantly despite no claims or issues.
Esure not only provided same cover, new for old on bikes at new value, but beat the quote but several hundred!
My Pedalcover premium went up by £8 last year and the only way it could be several hundred pounds cheaper would be for them to pay me 😊
stevemuzzy - on expensive bikes, say >2k?
Two claims for expensive bikes in five years. I wouldn’t be wanting to risk going with anyone I wasn’t 100% sure would pay out just to save £200 a year. Having said that, various farming friends have said encouraging things about NFU over the years. Not encouraging enough to tempt me away from PedalCover mind 😀
When you go for your new insurance you will have to declare your theft... Won't that just put the new insurance up?
Stick with them. Sounds like good service.
Last year’s escape of water claim seems to be killing me – is that an area of well known fraud or something?
Escape of water claims are costing insurers an absolute fortune at the moment. I read the something like 30% of total claims costs in the UK. It wouldn't be a surprise if some insurers were using some clumsy methods to get a handle on it.
Renewed now with Pedalcover, they did mention that Axa is being particularly harsh on water escape claims.