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My bike used to be insured on the house contents insurance. For which I paid an extra premium. I no longer have house contents insurance as I no longer own a house and live in private rented accommodation.
What's the best way to keep my bike insured? As I'd struggle to replace like for like if it was stolen.
Can I just insure the bike on it's own or do I need to setup another home contents policy? A quick quote on moneysupermarket works out at £16pm. Does this seem reasonable??
Cheers
I'm with http://www.evanscycles.com/insurance as I'm in same situation. I've got £6K worth of bikes and they're insured on their own, I've had the misfortune to make a claim and they were quick to pay up. It covers your bikes when on roof rack or tow bar mounted bike rack (which mine was stolen from) and even with a claim my payment is about £48 a month to insure them.
general rule of thumb is you'll pay 10% a year for the value of your bikes.
My bike that was stolen was a Specialized FSR XC and they offered to replace it but I wanted to put the money to something more expensive and they knocked 18% off as they said they get the bikes trade price, it didn't bother me as I got 20% off when I bought the bike so I got back full value for a 12 month old bike.
Cheers mick, I'll look into that. £48pm is expensive although you have double the value of bike(s).
Just looking at M&S contents too
M&s are the cheapest and cover bikes up to 4k,away from home ,abroad, and for accidental damage!
Costs me £38 a month along with my buildings and contents insurance
Thanks easygirl. Just checked and M&S are looking good. Unlimited contents (or items up to £4000) without accidental £190pa, with £270pa.
KoB, you probably still need contents insurance, even in rented accommodation and my view would be that, since M&S cover is very good, there's little point in going elsewhere.
For many people, M&S contents, which covers your bike(s) by default, is cheaper than most dedicated, bike-only policies.