Home

Hi

Does anyone know of a way to get cheap cycle insurance? I am not intested in cover for crashes just want my bikes covered if they are stolen from my home. Home policies dont cover them automatically and when you add them your cost doubles! 

Specialised insurance companies alone are also more than home contence insurance + bike! Madness! I mean why should I pay 10% the cost of replacing the bike a year? Yet I can get cover for £50K home stuff for £100

 

Thanks

17 comments

Avatar
atgni [500 posts] 9 months ago
1 like

Bike theft insurance always looks expensive and the terms are pretty restrictive on actually being able to claim too.
Good luck and tell us what you find.
Maybe look here:
https://membership.lcc.org.uk/theft-insurance

Avatar
sergius [563 posts] 9 months ago
4 likes

Self-insure I'd say, any specific policy is ludicrously expensive.

 

You can spend that money on protection as well, home security cameras - secure bike storage etc. 

I'm not a fan of insurance at the best of times - at least with home/contents/car insurance there's a competitive market - with bike insurance there isn't.

 

 

Avatar
MrMajic [36 posts] 9 months ago
1 like

Hello

 

ha e a look at now4cover.com. They were cheapest for me and allow you to tailor the policy to include racing. You can also turn race cover on or off mid policy for off season to save some money. I’ve not had to claim with them but they seem helpful. 

Avatar
Pilot Pete [66 posts] 9 months ago
2 likes

After years of avoiding specialist insurance for my bikes because it was so expensive, just last month I took out buildings, contents and cycling insurance with Pedal Cover. The reason why? In our family we have £24k worth of bikes. Pedal Cover covers these for theft, accident damage (including kit, clothing, helmet, gps, lights and any other accessories and anything associated), and damage in transit whilst travelling with my bike including abroad on flights. 

On on top of this they cover all my house buildings and contents to a greater sum than before with less individual items needing to be listed.

The bikes only need to be in a locked house/ garage and when out cycling a simple wire cable lock will do outside a cafe...even for a £10k Colnago, so I do not have to carry around some 2kg Gold Secure lock.

Having made two claims on house contents insurance in the last 5 years (one for a burst pipe in a bathroom requiring a kitchen ceiling repair and another for my wife’s engagement ring diamond falling out) the policy was loaded.

All in, £550 for the year. We were paying £250+ for buildings and contents alone. An absolute bargain for the level of cover offered. Fantastic customer support (they are cyclists/ triathletes who work in insurance) and they really understand the market and what a cyclist wants/ needs in terms 9f insurance. Give them a ring and get a quote. I was genuinely blown away as previously I had been quoted £400 pa for standalone theft cover for a £2500 Pinarello...

PP

p.s. I have no affiliation to Pedal Cover, just a very satisfied customer...

Avatar
sergius [563 posts] 9 months ago
0 likes
Pilot Pete wrote:

After years of avoiding specialist insurance for my bikes because it was so expensive, just last month I took out buildings, contents and cycling insurance with Pedal Cover. The reason why? In our family we have £24k worth of bikes. Pedal Cover covers these for theft, accident damage (including kit, clothing, helmet, gps, lights and any other accessories and anything associated), and damage in transit whilst travelling with my bike including abroad on flights. 

On on top of this they cover all my house buildings and contents to a greater sum than before with less individual items needing to be listed.

The bikes only need to be in a locked house/ garage and when out cycling a simple wire cable lock will do outside a cafe...even for a £10k Colnago, so I do not have to carry around some 2kg Gold Secure lock.

Having made two claims on house contents insurance in the last 5 years (one for a burst pipe in a bathroom requiring a kitchen ceiling repair and another for my wife’s engagement ring diamond falling out) the policy was loaded.

All in, £550 for the year. We were paying £250+ for buildings and contents alone. An absolute bargain for the level of cover offered. Fantastic customer support (they are cyclists/ triathletes who work in insurance) and they really understand the market and what a cyclist wants/ needs in terms 9f insurance. Give them a ring and get a quote. I was genuinely blown away as previously I had been quoted £400 pa for standalone theft cover for a £2500 Pinarello...

PP

p.s. I have no affiliation to Pedal Cover, just a very satisfied customer...

 

Interesting,

I use Aviva for house/contents - the "home emergency" cover addon costs bobbins through them (£30/year versus £15/month from someone like British Gas) and has covered 4 seperate boiler issues over the last few years.  I've not looked at combining bike with house/contents before - I will have to see what that works out as.

 

Avatar
BehindTheBikesheds [2599 posts] 9 months ago
1 like

TSB

Avatar
SpikeBike [131 posts] 9 months ago
0 likes

Hmm I've had a look and all suggestions. Find that the cheapest is with Swindon. Is £165 a year but that's contents and £3500 worth of bikes covered.

Avatar
Simon1602 [2 posts] 9 months ago
0 likes

Try a quote from Barclays....you can select the modules you need...i.e bike cover only...cover the most expensive bike, and all others at the address are included.....take a look...

Avatar
EdelmiraDimucci [4 posts] 4 months ago
0 likes

As the fuel rates are rising, so it has become tough to get cheap insurance especially if you want to add premium features like family coverage, repair facilities etc. However, this site maybe can help you if you want to compare bike insurance quotes from different insurance companies. 

Avatar
RMurphy195 [151 posts] 4 months ago
0 likes

Try TSB Pick and Protect - you might be surprised!

Avatar
wycombewheeler [1342 posts] 4 months ago
0 likes

Only 10% eh? Prices must have come down since I last looked.

If I'd put the premium in a savings account every year that i'd had bikes I'd probably have enough saved by now to replace any bike that was stolen.

And then there is always the risk of the wriggling out of you try to claim.

Avatar
BehindTheBikesheds [2599 posts] 4 months ago
0 likes
wycombewheeler wrote:

Only 10% eh? Prices must have come down since I last looked. If I'd put the premium in a savings account every year that i'd had bikes I'd probably have enough saved by now to replace any bike that was stolen. And then there is always the risk of the wriggling out of you try to claim.

I'm not a gambler so I don't have a policy but, what if one takes this approach and in year one need to replace £10,000 worth of bikes?

Avatar
fenix [1116 posts] 4 months ago
0 likes

Can't you use an insurance comparison tool ?
My bikes are part of my house cover and the meerkats sort it out each year.

Avatar
tigersnapper [22 posts] 4 months ago
1 like

I'll second PP with Pedalcover.  They covered my house and bikes for the same price as just the house insurance was previously.  Up to 10k cover per bike and, as PP says, no highly restrictive security regime in place.  Nice bunch to deal with too.

Avatar
alex1987 [8 posts] 4 months ago
0 likes

I'm with Bikmo and I pay less than a tenner a month. Luckly I've never had to put in a claim, but they are very easy to deal with, quick to respond and well reviewed by people who've had claims through them.

Avatar
Rapha Nadal [945 posts] 4 months ago
0 likes

Use a broker.

Avatar
jaysa [106 posts] 4 months ago
0 likes

Slight thread hijack, but how do I insure a 25 year-old bike worth £1,000 to replace ? Insurers I spoke with link payout to the invoice value depreciated an amount per year - which would pay £100 or so. I no longer have the original invoice either.