Bike Insurance

I got M&S insurance. It costs about the same as what Butterworth would charge for just ONE of my bikes and it covers ALL of my bikes and ALL of my contents. Bike-specific insurance deals are pretty crap in comparison.

I know M&S is good, but for the third time I can't get home insurance.

yeah one cheque to one shop.

Hmm, well, it's better than Halfords vouchers.

I know M&S is good, but for the third time I can't get home insurance.

I was directing my comments at Shinscar, I did read your initial post :-)

When you do have a house though, I recommend M&S ;-)

just out of interest, is it better to join the LCC (being landaners ourselves) or the CTC?

I know M&S is good, but for the third time I can't get home insurance.

Get M&S home insurance. It's a much better deal. :P

I know you said that you can't get it but you do live somewhere right? I rent and can get contents insurance, are you in some communal thing or something?

just out of interest, is it better to join the LCC (being landaners ourselves) or the CTC?

The LCC dudes always seem very angry at critical mass. Lots of shouting at cars & police.

so, they're the best then? :D

Yes.

Get M&S home insurance. It's a much better deal. :P

I know you said that you can't get it but you do live somewhere right? I rent and can get contents insurance, are you in some communal thing or something?

It's 'cause I live in university halls, so they think that everyone is completely pissed all the time and the whole property will get destroyed.

I'll be able to get contents insurance next year, but most insurance companies just aren't interested because I'm too high risk, apparently.

I haven't decided whether to go for CTC or LCC. Both seem equally impotent. I reckon LCC will want a London address which will be a pain for me, as I'll be back to Basingstoke over the summer (just kill me now), then London again and I just can't be arsed to change my address constantly so just leave it as my parents' house.

I shouldn't think that LCC will give two shits where you live if you pay your sub fee. The insurance that they offer, public liability, will work anywhere in the UK as far as I know so where you live doesn't matter.

CTC for a not-at-fault claim was stress free for me. Took 5 months, but 1300 quid from a prat with no insurance was a result!

Hiscox house insurance, for riding over the back of a car and smashing up a £2k Cannondale... 5 minutes on the phone, cash in the bank account 3 days later.

^^^ that's the kind of thing I'm after. Cash into my account, none of this hassle with cheques, vouchers and so on.

It's very hard to find.

The majority of insurers out-source the costing part, and then take back-handers on the replacement. This means that they have retailers estimate the cost, and those same retailers will do the sale at less than retail with the insurers receiving the discount. The insurers get back-handers, pay less and reduce their overheads.

Hiscox are a speciality insurer used to insuring fine art and stately homes. Perfect as their model is based on compensating the irreplaceable. So no vouchers there. But... the insurance starts at £50k home contents and bikes cannot be more than 5% of the total policy.

Hiscox are a speciality insurer used to insuring fine art and stately homes. Perfect as their model is based on compensating the irreplaceable. So no vouchers there. But... the insurance starts at £50k home contents and bikes cannot be more than 5% of the total policy.

Yeah, just found out. Hoped I could take out a contents policy for £800, but minimum is £60,000, so nope.

Object, this might be of interest to you. I sent an email a few days back to Butterworth, this is their reply:

If a claim occurred under the Cyclecover policy, Loss Adjusters ask for
a copy of the original purchase receipt or a valuation. In the case of
a custom built cycle, they will accept receipts for the parts, photogaphs
of both the cycle and policyholder, or a valuation from your local cycle
dealer (or the dealer who has supplied the parts to your cycle if one
particular shop that you deal with).

When a total loss occurs, Loss Adjusters will normally settlement the claim
directly to a cycle dealer if a replacement cycle is to be purchased.
Alternatively, following discussion with the policyholder, they can issue
settlement directly to the policyholder although where possible, replacement
of the cycle to a dealer is preferred. Before any settlement is reached,
Loss Adjusters always speak with the policyholder and fully advise them of
the position regarding settlement of a claim.

My thoughts are valuation is useless because I don't think many bike shops could accurately value a bike that isn't very typical; not like I'm insuring riding Marin Hybrid. I've replied asking how I'd go about making a claim for payment to me rather than a bike shop because the parts are from all over the place. I'll let you know if you want.

I think I'm going to end up going with them anyway. If push comes to shove, I'll go to Brixton Cycles and get a Steamroller or Cavendish and find something, and flog it if I really hate it.

Both of my bgikes are valued by a friend who works in a bikeshop :]
They're also completely documented in close up photographs too.

Looks like I may be safe.

Failing that it'd be talk to Brixton and get them to order all of the parts in seperately so I could build it myself. Tiresome having to get it all from one shop but at least the Brixton Boys would understand.

Steamrollers are solid frames by the way - At least mine and Mack's are holding up well :]

Does M&S settle it in gift Vouchers? thats a shed load of pre-cut veg and good reliable underwear.

I made a claim through lloyds home contents, they only insure up to £500 payable as a Halfords voucher! So i got a kick ass tent

Butterworths provide good cover, at a cost BC bike insurance have a few issues
1 - They select the specialist supplier &
2 - Bike parts are only claimable if they "are damaged"
oh you can't claim if you use a bike for work, and there is no personal injury cover.

More Than pay cash to an amount that matches their chosen supplier and provide no parts cover cover.
the odds are staked against you. as always!

The first important step is what Object stated, DOCUMENT YOUR BIKE! at least at some point take pics of your bike so you can see what they are more or less and also a picture of you with your bike! Insurence compaines act a lot more helpfully if you can solidly prove that your bike IS worth what you have claimed!
Also read all the small print some household insurers only cover the bike if its locked in a locked shed/garage.....I only found out about this when by bike was stolen locked up in a locked garage! luck for me i was covered! and i had pics to back up my claim!
looking at what people are saying this Butterworth company looks good....?

hi all,

not the most exciting subject, but an unfortunate inevitable expense it seems. having not insured my last bike, which someone and their bolt cutters took a shine too, i don't want to get burned again.

just wondered if any of you guys had any good experience of any insurers in particular. I'm hoping a kryptonite d should have me covered...

cheers!

http://www.londonfgss.com/search.php?searchid=119899

eek, i did a search too, must have been spacing out. apologies.

A colleague of mine reckons you're better off putting the money you'd pay in insurance premiums each month into a savings account. If your bike gets stolen you've got some funds to replace it and it it doesn't you can buy a new one.

I'm still not convinced.

Except it could easily take you over a decade to save the amount your bike is worth? (obviously depending on the bike, or if you have multiple bikes). Plus if you go with contents insurance you're also covered for laptops, etc..