Bike Insurance

How do you cover your wheels?

12 messages
01/05/2012 at 21:41

Got my Cycle2Work bike and need to make sure it is covered as I can't afford a new one.

Just curious how people insure thiers?  Household or seperate insurance?  - Any suggestions would be helpful.



Rafiki    pirate
01/05/2012 at 21:55

MIne are insured under my Direct Line home insurance, whilst at home or anywhere else, as long as they are locked etc. But its worth checking!

Strangely, there is a specific clause stating they are not insured when Im racing them - now I know I'm not the fastest rider, but I would like to think I'd be fast enough to stop someone pinching my bike from under me!!

Anyway, it was discussed a little while a go here:

01/05/2012 at 22:07

Thanks that was really helpful.

I should have searched better myself.

02/05/2012 at 00:03
IGo4 seem to be the cheapest these days if you've got a high value bike - whether they are any good if it comes to paying out I've no idea though. M&S used to be recommended but they've changed their terms for covering bikes recently.
02/05/2012 at 09:26
I'm with M&S home insurance and I think they still offer up to £4k per item cover for legacy customers - I've been with them for 3 years I think. but as pops says (and I've heard elsewhere), it appears they have either dropped their cover or changed their terms - I guess I need to check!
Golden Boots    pirate
02/05/2012 at 09:48

I have a couple of questions... I have the BTF cover, does this cover liability in case an accident is my fault? 

I would ideally like something to cover theft as well so I really need to look into this, I have three bikes (£200/£800/£1800) and would prefer if I had all 3 covered under some insurance that won't cost an arm and a leg and is seperate from home insurance?

02/05/2012 at 09:48

The exclusion of racing is probably less to do with the risk of theft, and more to do with the risk of damage - to you bike and to third parties if the insurance covers public liability.

The insurance I'm looking at is with E&L, and is about £80 a year, with £1m public liability and roadside recovery cover and replacement bike hire.  It covers road based time trials, but there is another policy they do for competition/racing.

My household insurance wouldn't even cover half the value of the bike, never mind anything else.

Edited: 02/05/2012 at 09:50
02/05/2012 at 10:13
"all 3 covered under some insurance that won't cost an arm and a leg and is seperate from home insurance?"

all separate bike policies cost an arm and a leg - like that E&L one that Wilkie quotes. I use to have my race bikes covered by them but dropped it when I switched to M&S home insurance.

I'm not sure precisely what the BTF bike policy covers - you need to check with the BTF - but it doesn't cover theft, that I'm sure of. it's meant to cover you and your bike while racing or training - whether that includes any public liability for accidents caused by you I don't know.
02/05/2012 at 11:40
Google 'bike insurance' and look on some of the comparison sites.  There were companies that covered multiple bikes.
02/05/2012 at 11:46

Mine are all covered as an addition to my Halifax home contents..

Usual stipulations that they are kept locked up in a locked garage when not in use

05/05/2012 at 12:07

I don't think BTF insurance covers damage to the bike.  It covers damage that you might do to others in the event of a crash, and I think there is some cover for injury to yourself but probably best to check.

I found that most household insurance only covered bikes up to the value of £1000 or sometimes only £500, and mine is worth more than that.  I've insured mine with ETA for the last three years.  The cost hasn't gone up in that time which is why I haven't bothered to check around for better offers.  ETA covers everything except if you leave your bike unattended and unlocked (except during events) and riding under the influence of drugs or alcohol.  It is worth checking household policies as some don't cover the bike when it is away from home.

05/05/2012 at 16:48

I was amazed when the Halifax said they could offer bike cover, So I laughingly said go on, gave them the details of the P2 and they said no problem, They even knew how much it was worth in standard form and asked if I had added to it....

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