UKC

Bike Insurance ?

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 Seymore Butt 16 Sep 2019

Just got myself a new bike. Wife says I should get it insured. Never bothered in the past, so would appreciate any advice on different companies and any issues/experience to watch out for.

Thanks

Alan

In reply to Seymore Butt:

stick it on the house insurance and add theft away from house is probably the cheapest solution

 Bob Hughes 16 Sep 2019
In reply to Seymore Butt:

Bikmo is a broker specifically for cyclists if you’re looking for a specific policy. Set up by cyclists if that’s important to you. (I met the founder once but otherwise I’m unlinked to them)

 LastBoyScout 16 Sep 2019
In reply to Seymore Butt:

There are a number of companies that offer stand-alone bike insurance, but it's VERY expensive.

Better to put it on house insurance as a named item.

 Lord_ash2000 16 Sep 2019
In reply to LastBoyScout:

> Better to put it on house insurance as a named item.

Agreed, had mine stolen last month in France. Used the home insurance, it covers them anywhere in the world providing they are named items. 

Paid out full RRP for the bike and pedals, water bottles lock etc 

Post edited at 20:24
 TheGeneralist 16 Sep 2019
In reply to LastBoyScout:

>stand-alone bike insurance, but it's VERY expensive.

Not always I pay 0.35%   per annum to insure all our bikes with Barclays which is utterly mindbendingly good value.

Not such good value if you only have one bike, but if you have a few then it's great.

Post edited at 20:32
 ChrisJD 17 Sep 2019
In reply to Seymore Butt:

These guys: https://pedalcover.co.uk/

Combined our home and contents & bike insurance and halved our premiums (with better cover) (.... savings may vary etc etc).

And you get to deal with actual people (and they are cyclists/triathletes)

 Dark-Cloud 17 Sep 2019
In reply to ChrisJD:

We are with Pedalcover too, a bunch of nice folk they are too.

OP Seymore Butt 18 Sep 2019
In reply to LastBoyScout:

Thanks everybody will keep searching for the best deal. My home insurance (which we only renewed a couple of months ago) only covers up to £1000 for an individual item and the bike cost 3.5K. I was given a company to contact (cycleplan.co.uk) from the shop I bought the bike from, which was giving a 20% discount on the first years premium . But it was still nearly £200.

Seems excessive when my car insurance is not much more, fully comprehensive.

Thanks

 ChrisJD 18 Sep 2019
In reply to Seymore Butt:

With Pedal Cover, you get £15K of cover for your bikes away from home (sum of bikes), insured anywhere, even on a bike rack.

 TheGeneralist 18 Sep 2019
In reply to Seymore Butt:

> Thanks everybody will keep searching for the best deal. My home insurance (which we only renewed a couple of months ago) only covers up to £1000 for an individual item and the bike cost 3.5K. I was given a company to contact (cycleplan.co.uk) from the shop I bought the bike from, which was giving a 20% discount on the first years premium . But it was still nearly £200

Not trying to be funny, but is there any reason you're ignoring my Barclays suggestion?

Post edited at 17:07
 ChrisJD 18 Sep 2019
In reply to TheGeneralist:

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

This wouldn't be enough ££ cover for us, not sure about the OP.

The theft clause is also a bit of a concern, need to check the small print to see if that includes locked on a bike rack.

 TheGeneralist 18 Sep 2019
In reply to ChrisJD:

What cover do you need per bike?

OP Seymore Butt 22 Sep 2019
In reply to TheGeneralist:

Sorry if you think I'm ignoring your suggestion, but we only renewed our home insurance a couple of months ago (prior to buying the  new bike). And wasn't prepared for the hassle of changing it. So looking at stand alone cover only.

In reply to LastBoyScout:

Not true. Laka do a brilliant new for old insurance which covers damage as well. I pay about £12 a month to cover a bike worth £2700 though last month it was £7.00.

In reply to Seymore Butt:

Try Laka. https://www.laka.co.uk/

 Dax H 22 Sep 2019
In reply to Seymore Butt:

Speak to your house insurance before you pay anything out, our policy states items up to £1000 too but I added my watch to it for a small extra fee. 

 TheGeneralist 22 Sep 2019
In reply to Seymore Butt:

Deleted my post as I was stupid to post such details.  I'll pm you seymore

Post edited at 20:57

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