Bike Insurance

Forgot to say bikmo have a page on their website in your account for you to upload pictures of the bike and write down the spec/components/build so they know what the bike would be worth to replace new.

That's definitely an advantage over Admiral, they ask you to describe the bike in as much detail as you can but with a very, very low character limit. Just about squeezed in "Donohue track bike w/custom Columbus Max forks" which is very far from as much detail as I can describe that bike in, ha ha.

I suppose I'll just keep careful records of what's on my bikes and photograph them regularly to be safe.

Check with Admiral to be sure. I have done one claim for stolen bikes on a home protect policy, which was underwritten by axa. They did not ask for any proof other than a crime reference number. I believe I also talked them through what happened on the phone. Then I gave them a big spreadsheet of bikes and any custom parts, and they made me an offer of a cash payment or similar replacements from wheelie. For me the replacements worked out better, I got much better bikes than had been stolen. Took a while to process and receive the replacements, but I was pretty happy with the service given the cost of cover.

That's good to know, thanks!

What happened with this @amac090 ?

I think you were right to be having none of it. Worrying for me as my insurance is with them too and I haven't been told of the changes either.

my wife keeps bumping our home and contents around each year with zero regard for their ability to cover bikes, so i've been looking at bike insurance.

got an email from BC pushing bikmo so I thought I'd give them a try. glancing at the policy wording, it looks like as long as they're kept in a locked garage, that's enough? no need for additional anchors etc.?

also, i recently bought a second hand bike for £1500 that would be about £2,500 new to replace and they very rarely come up on the used market. does that mean i should insure it for £2,500? presumably yes, right. I should insure it for the amount i'd like in the event of it getting robbed...

What happened with this @amac090 ?

I think you were right to be having none of it. Worrying for me as my insurance is with them too and I haven't been told of the changes either.

Aye, hope the claim gets sorted satisfactorily.

Our insurance is with Pedalcover and it's up for renewal in a couple of weeks' time - which is a point, we haven't had a renewal quote through yet - and I can't see anything from them telling me about the change in ownership.

That said, the info on the site for combined buildings/contents/bikes policies looks as reassuring as it did when I took out cover, so I'm likely to just wait and see what they send through.

It’s not clear on Bikmos site, from here it reads as for second hand it’s insured for price paid:

https://support.bikmo.com/hc/en-us/articles/115005573449-How-to-value-your-bike-s

|³|MA3K

I think I just used your referral code for my policy so I'll look forward to my 2 year old beer at some point

Thanks!

Is Laka still the bicycle insurance of choice?

Yup! Here's some free cash for both of us if you use my link: https://microcosm.app/out/Sk3Vh

Don't listen to Caz, use mine... ;)
https://my.laka.co/?r=5X2SL

I've been using Yellow Jersey for more than a year now, last time I paid £408/yr for £7.7k worth of bikes (3) + accessories/wheels. It's the middle "Performance" tier, which covers family/dental as well as Europe trips (pointless this year, yeah), comes with 60% multi-bike discount and 25% renewal discount. (The premium actually dropped on renewal even though I've made a claim last year) Accessories/wheelsets/clothing can be insured separately so they can be on any bike at the time of the incident.

It's cheaper than Laka with multiple bikes and the renewal discount, and offers more.

Bikmo wont renew my policy as I’ve had more than two claims in 5 years. One crash, one theft (of a £600 city bike I think. So I’m off elsewhere.

Anyone been rejected for previous claims?

Did someone called Oliver just use my referral code?! Thanks, whoever you are!

EDIT: And you too, Hannah

Oh my god. Trying to find the right policy for insuring my bikes is giving me a huge headache.

I have 4 bikes, the most expensive one would cost about 10k to replace with a like for like new one right now.
I'd like to add them to a home contents policy but I cant figure out who would insure them up to such high values but more importantly actually pay out what it would cost to get a like for like bike.
Using the comparison websites most of the big names say they will replace at current market value, but I want a policy that would replace at the price paid new.

All my bikes are essentially custom built bought as framesets and built with individual parts by me.

Ive just looked at bikmo and the quote to insure 4 bikes worth a total of £24k is £1,360. This would seem to be new for old with no depreciation.

bikmo seems to include a lot of other benefits like physio, counselling and dental injury etc... I'm not sure I really need all that.

Is anyone with one of the bigger name insurers that have bikes similar value to mine insured with a policy that would be new for old with no depreciation?

I have my household insurance with the NFU (I'm not a farmer and live in London) and have 5 bikes listed with the most expensive down at £9,750. They charge me £42 a month for all the bikes and my home contents insurance. I've had to make 3 bike claims in the last 10 years (2 x crash, 1 x flight damage). On all occasions they've sent me a cheque in the post within a week of me raising a claim and have been absolutely brilliant. They are all covered with no depreciation in value.

Oooft this exactly what I wanted to hear. I'm up in Scotland, also not a farmer but do live fairly close to a farm...

Thanks, I'll get a quote from them just now.

My bikes are kept in a securely locked detached garage on my property. Theres a very quiet voice in my head telling me in that in over 20 years I've never had a bike nicked or knackered one completely in a crash. Also lucky to live in a place where crime like burglary is virtually non existent.
But the value of my collection of bikes is at an all time high and I of course know its better to be safe than sorry no matter what the wee voice inside my head is whispering.

Bikmo and Laka seem to offer a lot on the policy I'm not sure I need. I literally don't leave a bike locked or unattended. But if I woke up one day to find the garage was empty, I'm not sure I could fully recover from that...

I'm with Nationwide and my most expensive bike is less than yours, but total value of bikes is similar. I've also been with Aviva and Homeprotect in the past. I've had to claim with Aviva in the past following a theft from our communal bike store

Thanks, Nationwide is who I bank with and would have been first choice but it seemed that their 'new for old' was a new bike at the current market value of what was being replaced.

I've got in touch with NFU and waiting to hear back from them.

So I had an off at HHV last week in Race Training and my track bike isn't covered as Bikmo don't cover bikes that aren't stored majority of time at home.

All fine.

But I put in a kit claim and was told I can't claim for damaged stuff because the bike I was riding is as above (see attached).

So basically, if you ride track and store your bike using a velodrome's on-site storage, you either a) don't crash (my preference) b) failing to meet requirement A, don't use Bikmo...

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I'm about to sign up with Laka if anyone has a referral code...

Nice one dude

https://my.laka.co/YBPGF

Thanks, I had the page open so couldn't click on the link but I think I used your code.