Bicycle Insurance

jdonice

I have a new bike, Ridgeback Genesis.
Which I paid £300 pound for brand new.
Living in London and I use it everyday as aposed to public transport:
I was wondering if anyone could reccomend a company that will insurance my bike against theft and damage in case of an accident.
And if anyone know of any sharks to watch out for obviuosly I need it covered when I lock it up in the street as well as at work.

Maybe insurance on a bicycle is more straight forward than on a car house or your life... But some how I doubt it

Helps is much appriciated:

:T

maclean2

Hi - try adding it to your contents policy as this is probably the cheapest way.The small print will probably insist you lock it up securely and may specify the make/type of lock.Common sense in London anyway ! If you don't have contents insurance try Cycle Guard which is a well established scheme.I have no personal knowledge of their service levels or claims handling.

Lastly avoid E & L.

misterthrifty

Yes, adding it on to your home insurance is usually the cheapest way, some insurers include bikes up to £500 or so if you have the "valuables away from the home" cover.

Alternatively, I think the CTC have decent cover if you want to join.

Mr T

Smiley_Mum

I recall when I shared a flat some time ago and I tried to get a mountain bike insured, and it went through Endsleigh insurance. I didn't have any kind of house insurance at the time and that was the only insurers who would cover the bike.

culpepper

I had mine insured with CTC years ago ,it was a very good rate at the time.

Insurance_Quote

Hi - As mentioned by everybody else above, bikes can usually be covered under your contents insurance policy. You need to check with you current insurer and/or read through the policy document. If it's not covered under the standard terms you may be able to add the bike to your policy using a Personal Possessions Cover option. This is designed to protect your personal effects whilst out of the home.

Make sure you read through the small print to avoid any surprises. A typical exclusion would read something like this:

"Loss or damage by theft whilst the pedal cycle is left unattended in any public place without being secured by a locked chain and/or padlock or equivalent device to fixed property. Loss or damage by theft or attempted theft whilst the pedal cycle is left unattended overnight in any public place." As can be seen in Section H - 1.G here. (Note: I'm linked to this company and paymentshield is the only provider we use)

I can't speak for other providers but with the company we use if you made a claim it would be subject to a £60 excess and you would loose any no claims discount you have accrued.