Bike Theft - Debit Card Insurance?

RobSM

Hi All

Not sure if this is the correct place to post for this, Mods please move if need be.

A colleague at work has just had his 2 day old bike stolen (even though it was locked up with 2 heavy duty locks!), he paid for it with a debit card. I know this is a long shot but do any debit cards come with purchase insurance, as you would get with a credit card?

Thanks in advance.

lisyloo

Not normally. Which card is it?

Is it covered on his home insurance?
Some policies cover bikes as standard (provided they are locked to something permanent which presumably it was).

RobSM

It's a Barclays card, and he's just moved house so hasn't set up home insurance yet... the law of the sod strikes again!

InsideInsurance

The Consumer Credit Act provides some cover for goods purchased by credit cards, which I think is what you are thing of, but this is only in the fact that if the retailer would be liable then the credit card company is equally liable. Obviously a shop isnt liable if your bike is stolen after you've bought it and so neither would a credit card be.

Outside of that of cause, any company can offer an additional perk such as covering purchases for free beyond the legal requirements and that could apply to either debit or credit cards given it is a commercial decision.

All that said, I am not aware of Barclays giving any such perk on their current accounts.

RobSM

I was asking on the basis that some credit cards offer cover on products bought with them, so thought there might be an outside chance some debit cards may offer the same protection. I figured it'd be a long shot though!

lisyloo

Generally you don't get these perks with debit cards and they don't charge the retailers the same level of fees either.
I have to say that I would be very uncomfortable without house insurance even for a few days, as there is always the chance the whole thing could burn down and you lose everything.
Looks like your friend is stuck with the loss unless the polcie find the culprit and they are able to pay.