Bicycle insurance recommendations?

Jimbro66

I want to get my bike insured but it is worth a lot more than the £700 maximum cover provided by my household insurers. Has anyone got any recommendations for insurers please? Thanks.

Legionreturns

Bikmo. The best bar none. The breadth of cover is incredible. 

Jimbro66

Legionreturns said:

Bikmo. The best bar none. The breadth of cover is incredible. 

Thanks for that Chris. I’ll look them up.

thermionic

Pedalcover. The best bar none.

BigMonka

My house insurance with Tesco is up to £1k per bike, so if your renewal is due anytime soon then it might be worth looking around for one with a higher bike cover? Unless we’re talking much higher value, in which case we need to see some bike porn photos!!

Legionreturns

BigMonka said:

My house insurance with Tesco is up to £1k per bike, so if your renewal is due anytime soon then it might be worth looking around for one with a higher bike cover? Unless we’re talking much higher value, in which case we need to see some bike porn photos!!

The actual bike policies have several advantages over household cover.

Accident damage, liability, cover for clothing and accessories...and of course, if you have a claim, it won't fuck up your house insurance and they know bikes, so are less likely to piss you about on value or try to send you to Halfrauds for a replacement. 

the_jaffa

Another vote for pedalcover here

Jimbro66

fBigMonka said:

My house insurance with Tesco is up to £1k per bike, so if your renewal is due anytime soon then it might be worth looking around for one with a higher bike cover? Unless we’re talking much higher value, in which case we need to see some bike porn photos!!

My bike's value is quite a lot more than the cover provided by any household insurances and, as @Legionreturns said, the specialist bike insurances are far more tailored to cyclists' needs.

You've reminded me that I do need to photograph the bike to be able to show the police, here or abroad, if it did get nicked. They like a photo

Thanks also for the recommendations for Pedalcover. I'll check them out against Bikmo. The Bikmo web site is very impressive but their quote made me go a bit wobbly. I guess bikes are a high-risk item.

skunkwerx

Remember to read the t+c’s fully. 

When I looked a while ago, a lot of insurers want you to have an approved lock, something like a sold secure gold standard. 

Jimbro66

skunkwerx said:

Remember to read the t+c’s fully. 

When I looked a while ago, a lot of insurers want you to have an approved lock, something like a sold secure gold standard. 

Yes, thanks for that tip @skunkwerx. Bikmo insist on a Sold Secure gold lock for any bike over £1500. Theft insurance is invalid if the approved lock is not in use at the time. Having seen videos of guys vainly trying to break a gold standard lock I think it’s fair to say the insurers don’t expect to have to pay out for a theft claim which makes me wonder why the insurance is so expensive. Yes, it covers other things, not just theft, but just the same.....

skunkwerx

No worries dude. 

I imagine the initial proof of purchase and I think my lock (not a sold secure one) had serial numbers, so I noted them, would be the main thing in the event of a claim.  

As long as that can be proved, I dont see how anyone could prove it was locked with one if stolen! Not that thats very honest of me, but we are talking insurance here! Haha. 

JohnnyPlectrum

Pedal cover combine it with your house insurance. 
I now have unlimited bicycle cover and £10k cover outside the house and unlimited house contents for the same premium I paid for one bicycle with British Cycling!

Jimbro66

JohnnyPlectrum said:

Pedal cover combine it with your house insurance. 
I now have unlimited bicycle cover and £10k cover outside the house and unlimited house contents for the same premium I paid for one bicycle with British Cycling!

That sounds interesting. I'm away at the moment but when I get home next week I'll check when my household insurance is due for renewal. It's a matter of timing as to whether a combined policy is helpful. I want to get the bike insured ASAP.

breezytele

Also worth considering joining the CTC, or Cycling UK as I think it’s now known .
About £40 p.a.  but you get some shop discounts 
And membership includes legal cover/costs if you’re in an accident 
As well as up to £2million third party cover if you injure someone/thing
And I think they’re ‘straining like greyhounds in the slips’ should you actually need help in an accident 
(rather than looking for ways to duck out.)

in other words, great accident cover : it’s  not theft cover.

However, when  I asked for a quote to cover  my bicycle all risks,
 it was way cheaper to add it onto my home insurance policy instead.

Jimbro66

breezytele said:

.........However, when  I asked for a quote to cover  my bicycle all risks,
 it was way cheaper to add it onto my home insurance policy instead.

The problem seems to be that most mainstream household insurers only cover bikes up to a certain value, £700 on my policy and usually not more than £1,000. It only seems to be specialist insurers like the companies mentioned above who will provide cover for more expensive bikes.

thermionic

Jimbro66 said:

JohnnyPlectrum said:

Pedal cover combine it with your house insurance. 
I now have unlimited bicycle cover and £10k cover outside the house and unlimited house contents for the same premium I paid for one bicycle with British Cycling!

That sounds interesting. I'm away at the moment but when I get home next week I'll check when my household insurance is due for renewal. It's a matter of timing as to whether a combined policy is helpful. I want to get the bike insured ASAP.

When I called Pedalcover they said they could cancel any remaining house insurance policies, no need to wait until they ended. They did exactly this, and with zero hassle. Between everything I was a good few hundred pounds a year better off, and with better cover overall - especially for the bikes. The guy who started the company is a cyclist who's worked in the insurance industry for years, so he knew exactly how mainstream insurance policies were failing people who ride expensive bikes.

skunkwerx

Thing with it being under your house insurance is, does it cover outbuildings?

Mine said they’d cover it but anything stored in the shed isnt covered..

I need to get bike insurance sorted too. Last time I did a quote it was £50 a year, which is for a £600 mtb.. I didnt shop around though..   

Jimbro66

skunkwerx said:

Thing with it being under your house insurance is, does it cover outbuildings?

Mine said they’d cover it but anything stored in the shed isn't covered.

Same with my present household insurance. That's where Pedalcover differs as they are more geared towards fuller cycle insurance.

BTW my quote from Bikmo was close to £150. Admittedly it covers more than bike theft but not any sort of household cover.

skunkwerx

Jimbro66 said:

skunkwerx said:

Thing with it being under your house insurance is, does it cover outbuildings?

Mine said they’d cover it but anything stored in the shed isn't covered.

Same with my present household insurance. That's where Pedalcover differs as they are more geared towards fuller cycle insurance.

BTW my quote from Bikmo was close to £150. Admittedly it covers more than bike theft but not any sort of household cover.

Ah I get you. 
Thats pretty cool about pedalcover then. 

If only I had my own place, I’d look into that! 
Guess its off to find bike only cover haha. 

Or buy another pedal... ahhhh.