Bike Insurance

eandl insurance will insure the bikes separately, this is the breakdown:

Bike 1, £3,000, £18.49 per lunar month
Bike 2, £3,000, £18.49 per lunar month
Bike 3, £2,000, £13.64 per lunar month
Bike 4, £1,000, £6.76 per lunar month

So that's a total of £57.38 per lunar month/every 28 days, or £747.99 per year.

Couple of caveats- bikes over three years old are no longer "new for old", and I cannot get through to them to ask what their "fair market value" would be.

I might end up just having to value them all at £1,500 and take the hit with standard contents insurance from Endsleigh.

Update- fair market value is judged as the value of the bike less 10% for every year of age, from the date of manufacture.

So it's not worth it for the Rush as it's a 2006- hence Insuring it for £2,000 means it is insured for £1,400, so that's better off with Endsleigh, as would the SystemSix as it will be three at the end of the year.

The Enigma I honestly do not know the age of- and it's difficult to ask them as they have gone out of business...

Which leaves the Fuji as it is a 2008- but that's under the Endsleigh £1,500 limit anyway.

.

I worked at Endsleigh and they offered a very good Bicycle insurance policy, i seem to remember it being 30 beans a year, can't remember the specifics of it but its definately worth checking their website out. Good luck.

I give up- it is literally impossible to insure my bikes without having a seperate policy for the bikes at £750 a year, plus another £250 for contents insurance.

That's a grand a year (and another £700 for the car insurance) all for policies that I never want to claim on.

Endsleighs view was that I could only insure bikes up to the value of £1,500.
Not as I had thought each bike could be up to that figure, but all of them for fifteen hundred quid.

That would therefore give me an insurable value of £375 per bike, of which they would give me 50% less excess of £75.

So for each £3,000 bike stolen I would receive £112.50.

Meh.

Don't go with E&L!

They are complete bastards.

Lloyds TSB gave me a good quote a while back. You tried them?

They won't insure me unless I claim that I have two girlfriends i.e that I cohabit with both women living in the house.

Why are eandl bastards?

We're with Marks and Sparks. We have lots and lots of shockingly expensive bikes and they've been surprisingly lovely.

And cheap.

Marks and Sparks also say no- again unless I claim that I practice polygamy and therefore I am entitled to two (2) girlfriends, both of whom share my bed.

If I admit the truth and say that it is myself, the Mrs and a flatmate 99% of companies will simply not quote- they (M&S, Lloyds, Hiscox etc) will not insure you, or if they do the insurance will be invalid should you have a person who is neither a partner nor a member of your immediate family living with you.

Butterworth just got back to me.

Total premium for the year £940.50.

If the/a bike is stolen at home I lose 20% as an excess, so for the £3,000 SystemSix I'd get £2,400 back.

Oddly I only lose 10% if it's away from home.

I'm leaning toward E&L as the best of a bad bunch, Photoben- what did they do that annoyed you?

Has anyone had any experience with "more than" contents cover for bikes, they have an outside the home option and there does not appear to be any wierd clauses

https://www.eta.co.uk/insurance/cycle/quote They were one of the few that would insure my bike whilst it being in my shed at home rather than in a garage/home

I insured my plug with them, and had absolutely no issues when it came to making a claim for it when it was nicked from the bike storage locker at home. They had no issues with cohabitation either. I haven't tried insuring anything more valuable however, and don't know what their opinion is of home-built bikes from old frames etc.

Has anyone had any experience with "more than" contents cover for bikes, they have an outside the home option and there does not appear to be any wierd clauses

Dovoneil was recommending them on here just last week. I think he said he was insured with them.

ETA quote is £1,026 per annum, the most expensive so far, but also the only "ethical" insurance company.

More Than is exactly the same- unless you only live with close family and/or common law spouse your insurance is invalid.

If I shoot my housemate I'd be able to insure my bikes for peanuts...

Insurance is de facto "not worth it". If it was "worth it", insurance companies wouldn't be in business.

And hello :)

I think I'm just going to spend some cash on getting a Fahgedaboutit for each bike, a Fahg chain, and locking them all up when they are in the house, and continue locking whichever one I have with me up with a Granit Steel-O-Flex and a mini-D, possibly supplemented by a third lock of some kind.

E&L screwed me and my mate over, no photographer I know touches them with a bargepole - I learnt the hard way. My solicitor friend looks over their T&Cs, they are very cleverly worded so there is a little chance as possible they pay up.

Ok, that's blown them out of the water- £500 on locks it is!

Just been trying to insure my new bike with Endsleigh, trying to explain to them that although my frame is from 1988 it can be replaced with the 'nearest equivalent model' (631)for twice what I paid for it and that there is no other way to get an 80s track frame in the right size, sigh.

Looks like I might be able to get them to insure it for the full cost of a replacement ok by supplying the frame number and year, but worried if it got nicked they'd just say 'oh you only paid £250 for it' even though a replacement would actually cost £500. Gah.

They said to me (and I asked them to repeat it for clarity) that if a direct replacement cannot be provided then they will pay out half the value that you are paying to insure it for, less the excess.

And even then, they'd payout in vouchers for Evans.

Fun, eh? What a racket!

At the end of the year I will be moving my car onto an agreed value insurance policy- sadly I can find nothing of this nature in the bicycle insurance world.

I did it with hiscox home insurance. They pay cash for the agreed replacement value.

However:
1) Hiscox are not cheap (for a good reason, they give you cash and not vouchers so they're not getting backhanders from which they can reduce the premium to you).
2) The bike cannot be worth more than 5% of the total policy and if it's worth above £5k then the premium increases substantially as an underwriter will put it into a separate clause.

Ha. The only point of Evans is the internet price match. Not much use when you're talking about a Mancunian frame maker :(

@ Dammit, was 'they' Endsleigh or someone else? If Endsleigh I won't bother calling them back tonight.