Bicycle Insurance with Home Insurance

clairemoore_2

Hi

I have a number of bikes that I want to cover on my house insurance, has anybody found a good home insurance company that offer a decent level of cover. I have tried to cover the bikes in a bike only policy and have been quoted over £850 per year.

InsideInsurance

Not something I have explicitly looked at but you'd imagine that the quality of bike cover is generally going to be inline with the general quality of the policy.

Look at Defaqto Home and/ or the High Net Worth Home (which is does include MNW policies as well as HNW) to find the higher quality products

Sponge

A lot of people with expensive bikes use, including myself, use M&S. They've changed their policy recently with regard to bicycles: you now, as a new customer, have to declare bikes over £1000 (whereas it used to be >£4000) but I believe the premiums are still competitive and substantially less than dedicated cycle policies, that are often 10% premiums.

You can opt for cover away from the home and it's new for old.

A lot of other companies will insure cycles, but hide the fact they deduct for wear & tear. So you need to check.

You also need to check the small print for limits. I've wasted so much time filling in comparison websites with details of my bikes and got quotes, only to follow them through to the providers own website and find out they don't cover bikes over £250! I don't think the comparison sites are geared up towards special circumstances like covering expensive bicycles.

I know some people with valuable bicycles have switched from M&S to More Than since M&S dropped their unlimited (only declare items over £4000) cover.

kwmlondon

I think you can check on price comparison websites - you can add individual items so putting a few bikes on is easy, then you can press the compare button and see what comes up...

longtimelurkersam

I am with Prudential.
The standard policy I have for £40k contents cover extends to locked outbuildings (shed/garages). They do not classify bikes as valuables and therefore they do not require listing as individual items no matter what the value. Obviously if you have x4 £10,000 racing bikes you will be underinsured when factoring in other contents etc.

If you want cover away from home when locked to an immovable structure they quoted me £72.50 to add it to my policy (two bedroom flat paying about £180 per year which I know is expensive, BUT I like the cover, been with them 10 years, claimed in the past and not had any issues with them so don’t want to switch). If you do want cover away from they either want to see receipts or a valuation BEFORE cover is issued.

Pa that was for for bikes. 2 @ £1k each and 2 @ £250 each.

Marauder999

I have insurance with Co-Op. I think it is about £10pm or so.
My wife works for the bank but I am pretty sure there is no staff discount applied.

dacouch

Have a look at M&S

Yorkie1

It's included in the D Line Home Plus policy - probably an add-on for their basic policy.

*Scarlett

Many insurers will have limits on the value for bike insurance.

How much are your bikes worth?

Also do you just use them for leisure / personal use - not road racing or anything as this would normally be exluded?

If they are within the policy limits, they may be covered at your home (in a locked garage or shed) within the standard contents cover or you may be able to specify them for cover away from home for an additional charge.

clairemoore_2

*Scarlett wrote: »

Many insurers will have limits on the value for bike insurance.

How much are your bikes worth?

Also do you just use them for leisure / personal use - not road racing or anything as this would normally be exluded?

If they are within the policy limits, they may be covered at your home (in a locked garage or shed) within the standard contents cover or you may be able to specify them for cover away from home for an additional charge.

We have Five bikes they range from £1500 to £4500, they are locked in the garage and padlocked to the wall. they are just for leisure commuting use.

clairemoore_2

Marauder999 wrote: »

I have insurance with Co-Op. I think it is about £10pm or so.
My wife works for the bank but I am pretty sure there is no staff discount applied.

so the £10 covers all your bikes? what is the poliucy called?