Bike Insurance

from BC:

Remember that your British Cycling membership does not provide you with bike insurance that you can claim against if your bike is stolen or if you accidentally damage it yourself.

No, it's an option that you have to pay for Ed

https://www.britishcycling.org.uk/membership/article/bike-insurance

What you can get when you buy British Cycling Bike Insurance
Cover up to 3 bikes on one policy (up to 15% off for additional bikes)
theft & accidental damage cover for bikes valued up to £10,000
Flexible cover options - you create the cover you want
EU and Worldwide cover (optional extra)
bicycle hire cover available whilst making a claim
new for old cover on bikes up to 3 years old

Gold members only
Race Gold members save an extra 10%

http://www.britishcyclingbikeinsurance.co.uk/aboutus.asp?product=BritCyc

The three year old thing was a killer from memory - significant depreciation was calculated.

But you had to insure for the new value- so you paid based on a value of 7k and they paid out on 2k.

Sounds like a waste of time these days. They've all turned into those bike specific insurers... in that you have basically paid them for a new bike after a few years.

That is the conclusion that I have come to.

I might keep Hiscox just so the bikes are insured in the house.

I have to have some contents insurance in case the whole place burns down or something but until I get to the bottom of their cyclist fascism I'll probably ditch the extras I'd added.

Worth checking if you are allowed to- I cannot remember which company it was , but one of the big insurers told me that if I had undeclared bikes it voided ALL the cover.

There's a simple fix for that kind of bullshit fineprint. Cancel cover.

True.

I spoke to Hiscox, apparently it's gone back to the underwriters who are considering the attached/part of situation.

To be fair I'd probably be happy with a reduction in premium, cover up to £2,500 out of the house, and insured for full value in the house.

Meh.

I think it's time to hoist Clive until these insurance companies cough up the goods.

Thrilling insurance update XIV- Hiscox have changed their minds and will now cover bike+SRM as different items, so if the bike gets pinched with the SRM on it they will pay £5,000, without it on £2,500

I'm currently trying to get insurance on my bike and am a total novice to this. I'm being asked to get a valuation on it but because it's an old bike i'm struggling to find anywhere that will do it. Anyone got any suggestions ? I'm currently lucky enough that i can store by bike inside the building i work in but we're moving as of Monday so i really need to get something sorted by then.

Any help would be great. I have flicked back through here and called a couple of places but keep coming up against the "you need a valuation". One place said that because of the age then it would have depreciation value of 50% from the day that the cover was taken out !!!!!!!

Yep, don't go to them- anyone who applies depreciation will fuck you.

You want a new for old policy, or an agreed value policy.

Any decent bike shop can give you a valuation- just pick one with whom you have not had a falling out about a BB removal fee.

I'd go to Brixton Cycles, as I like them and they are local to me.

On Hiscox - will only cover you if you live with your lover (or better half if you aren't doing much loving); shared tenancies are excluded.

Currently looking at insurance and looking at Cyclesure (underwritten by Hiscox) and live in shared accommodation. Asked if I could be covered and got this reply:

"I would confirm cover at shared accommodation IS allowed under the Hiscox cycle policy provided the cycle is secured to a solid immovable object using the insurance approved lock if the cycle is stored within a communal hallway or entrance way etc. 20% excess however would be in place and theft by forcible and violent entry/exit only."

Hope this helps

I rang M&S yesterday and the woman said that the bike has to be specified, using replacement value. She said that a separate set of 'race wheels' is a separate item and would be covered.

I am now debating whether or not to get the updated quote - no idea what this will add to the costs - or just bail on the insurance altogether or at least until I find a better offer.

This person says it added another £600 to their insurance..
http://singletrackworld.com/forum/topic/best-cycle-insurance-now-that-ms-are-charging-full-whack

Anyone used John Lewis? They appear to have a £15k single article limit which would be more than enough to cover my flash bike in full bling mode.

http://www.johnlewis-insurance.com/homepage/home-insurance.html

I've used John Lewis. Claimed for a bike stolen from the garage. Expected a limit of 1K, but they gave me a replacement bike worth considerably more, though I did have to pay the excess of £200.

Claim was quick and painless, and they took my word on valuations.

That might be a brilliant find Hippy

I'm trying to find an insurer to cover one or two bikes on my narrowboat. One of the bikes will probably need to live locked to the boat, under cover but not inside.

My boat insurance will only cover a bike up to £500 max which isn't enough.

What's the best standalone that wouldn't mind this situation?

If this is just to cover bike damage/loss then why not just keep a 'kitty' going, stick a few quid in it every week. Spend it in an emergency.

Ask Jacqueline?

Shit. I still haven't told those idiots about my bike costs. So I'm uninsured. Don't rob me.

Ask Jacqueline?

Good idea.

Had a phonecall from Direct Valuation Services who Natwest have put in charge of giving me a replacement. Natwest have said they can't give me cash as I have no proof of purchase of the bike as it was second hand. Lady on the phone was quite knowledgeable about bikes and knew they wouldn't be able to replace my Pinarello Treviso hybrid with like for like but they also have nothing like it on their system so it has been referred to the technical team. In the meantime.I've bought myself a Fuji Finest.