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@Arvy.
No experience of Greenbee but obviously they are relying on the connection with John Lewis.
If they say they will insure you for these items; then essentially you should be covered. Make sure to **check your policy **documents for clarity on the particular items that you have. This is the best way to be sure but specifically ask the question when you are on the phone to them - if the chap at the other end says you are covered and you will get cash as opposed to vouchers - you should get what you want. (FSA note) If not the ombudsman will back you.
The insurance is underwritten by AXA (footer of the online form), so it depends which arm of AXA other cycling types have any experience with. It *may *be the case that AXA/John lewis have a special deal/dedicated support in the event of claim and that greenbee cover could be an enhanced version of the AXA standard cover. The best way to check - check the policy documents/summary.