Bike Insurance

[MHB]

Having recently purchased a new road bike, I attempted to add this to my household insurance to be told this would be £38 (of which £20 is an admin fee). This seemed a lot based on contents and insurance being only £250 a year, so I thought I'd look at specific cycle insurance policies. These seem very expensive, starting at £150 a year and going up to £250.

So, how do the cycling masses of PH insure their steeds, or don't you bother?

[Rolls]

Under my house insurance - cheapest way to do it IMO!

[AyBee]

I don't bother - my singlespeed is the only bike that gets left anywhere and that's in the secure underground carpark at work so I leave it unlocked in the racks, it's also not a very expensive bike. The other 2 only get ridden in loops (i.e. home to home) so locked in the basement is secure enough for me not to bother with insurance. For that price, you can buy quite a few decent locks every year to add to the security

[Gizmoish]

Posting to follow the thread...

Too many of them seem to have ridiculous requirements, like the bike being locked to something immovable even while in a locked shed.

Mine lives indoors, much to the irritation of 'er indoors.

[Rouleur]

I just add mine to my house cover with Sainbury's. I can't remember how much it costs to add them but to give you an idea how stupidly cheap it is when I recently renewed the policy and increased my MTB value from £1500 to £2500 it went up by £7!

Before renewing I shopped around a fair bit but no-one could get close. I'm not sure if they have a limit but I've also got a road bike on there at £2000 so most people will be okay.

[sjg]

The separate policies all seem to be based on the risk of you leaving it locked anywhere. That's fine for a commuter, but not on a mountain or road bike that you're likely to keep safely away at home, not have it leave your sight when you're out then lock it away again when you get back.

Home contents is the way to go if you can, but I spent years with no insurance - the bikes lived indoors and I could have afforded to replace them entirely for the cost of 4-5 years cover.

[craigb84]

I use protect your bubble. Think it's something like £10 a month. It's not so much for theft but more for road accidents as drivers in the UK largely seem to be inconsiderate tools.

[sjg]

Third party insurance for road accidents in included with membership to Cycle Touring Club, London Cycle Campaign, British Cycling and a few others. Normally cheaper than a separate policy, and they normally have legal cover too.

[craigb84]

sjg said:

Third party insurance for road accidents in included with membership to Cycle Touring Club, London Cycle Campaign, British Cycling and a few others. Normally cheaper than a separate policy, and they normally have legal cover too.

I'm guessing that wouldn't cover the cost of a broken bike though being third party.

[Gizmoish]

craigb84 said:

sjg said:

Third party insurance for road accidents in included with membership to Cycle Touring Club, London Cycle Campaign, British Cycling and a few others. Normally cheaper than a separate policy, and they normally have legal cover too.

I'm guessing that wouldn't cover the cost of a broken bike though being third party.

No - it covers you for the chance that some dozy ped will step out in front of you. Should also include legal cover to, to help you chase a driver responsible for an accident.

(I'm a BC member).

[barker22]

http://www.evanscyclesinsurance.com/