Cycle insurance

CFELH

I’m looking to insure a new push bike that cost just over £600. I’m not sure if I should add it to my house insurance or take out a specific cycle insurance policy.

My concern is if the bike was to be stolen from my home address, it appears specialised cycle policies may request my home insurance to share the cost. I’d assume that would effect my home policy no-claim discount if that were to happen?

I’ve also come across a broker called Nova Direct that offers a good cycle policy, but boy do they get slated online for their breakdown and car insurance policies.

 

Any recommendations and advise would be appreciated.

lisyloo

I would first check your home insurance to see if it’s covered as standard.
Note that policies will expect it to be locked to something permanent or in a locked building (shed or garage).

CFELH

lisyloo said:

I would first check your home insurance to see if it’s covered as standard.
Note that policies will expect it to be locked to something permanent or in a locked building (shed or garage).

No, they require an extra premium plus the excess remains at £100. With most of the specific policies the excess is £50 or less, and often (not always) there are many additional benefits.

lisyloo

Separate insurance may be the way to go for you 

https://www.moneysavingexpert.com/insurance/bicycle-insurance/

If if it’s not insured (at all) on your home insurance then they won’t have to share the cost.

or are you saying it’s insured at home but not out and about?
if that’s the case one solution would be to get better security at home to reduce the chances, either by securing the bike or the shed/damage where it’s stored.

[Deleted User]

lisyloo said:

I would first check your home insurance to see if it’s covered as standard.
Note that policies will expect it to be locked to something permanent or in a locked building (shed or garage).

Some also are very funny about where the locked building is - I have an Asgard secure shed, you'd need heavy duty cutting gear to get into it, but as it's at the front of the house, a couple of specialists won't quote me, but a wooden shed in the back garden would be fine! 

Shedman

Look at Barclays home insurance.  You can take separate cycle insurance without having to take out buildimgs or contents insurance surprisingly.  Its pretty good cover and its cheap. You pay based on the maximum value of the most expensive bike to be covered and can cover all bikes in your household.  Our 2 ebikes valued at £1500 each cost £23 a year this year (a whopping 15% increase over the £20 charged last year 😅)