Bicycle insurance

Bikinggal

Can anyone recommend reasonable bike insurance, specific for bikes, we recently had two stolen value £2500 and claimed on house insurance , however my partner doesn't think it's worth having on house insurance anymore as how it will affect premiums etc

Thanks

downright_mean_with_money

I was just about to ask a similar question, I see you have had little response? which considering the growing popularity seems odd? the problem with expensive bikes is the cost of insurance! probably 10% of the cost of the bike per annum in a premium seems un-reasonable to me (I'm probably going to get a kicking for saying that) BUT there are usually so many clauses against the user it defo seems un-reasonable. If your a commuter then YES pay the insurance, as you use the bike more and get the third party cover too - your also more likely to CARRY the HEAVY lock the insurance company will insist you use. I'm a mountain biker and don't want an extra kilo of steel lock in my pack for the odd tea and pub stop. Not many companies will cover the full cost of an expensive bike on your household cover, unless you declare it as a one off item, can't really win there either. As for pushing your premiums up they already will be, insurance companies share the information (and liability), they will know you've made claim even if the insurance is not directly with them (plus the statement on any form that asks "have you made a claim"). I would say if your household insurance covers the bikes in full then compare it against a stand alone cover, probably the only extra you may get is the third party cover. cycleguard, evans cycles, if you live in london there a plenty. It would be good if Mr Lewis could add this to his money saving tips????

*Scarlett

Some policies include cover for bikes as standard (up to a certain amount).

Others will require you to specify the bike if you want it covered away from home (and there may be restrictions on cover - eg locking to immoveable object if unattended).

Bike cover can be costly on home insurance.

If it's an expensive bike - at least £60 or £70 for a £1k bike. It might be better to get a separate insurance if this type of cover is not included in your policy