Problems renewing cycle insurance on home policy

baz8755

For the past couple of years have had my bicycle insured as a named item on my new for old home insurance and as such had to pay an extra premium for cover.

This year at automatic renewal of the policy they removed the bike. When we contacted them they said they now require proof of value and I informed them that I had a receipt showing how much I paid new several years ago, they said that would be fine and to send the receipt.

They have just contacted me to say the receipt is too old and I need to get the bike valued, the problem with this is that it will obviously be less than the cost of replacing new for old.

Also as they have had the item on cover for 2 years without query I thought there was some kind of implied honouring of continued cover.

So I am looking for a little advice/guidance on how to proceed.

[Deleted User]

Get a quote for a like for like replacement, a valuation of a bike that is several years old is nonsensical particularly if it's just a bog standard spec bike and the gears may well be superseded etc

The_Unready

Hi Op

I've got a number of bikes on my home insurance. Can you tell me who your policy is with so that I can avoid them at the next renewal?

DullGreyGuy

baz8755 said:

They have just contacted me to say the receipt is too old and I need to get the bike valued, the problem with this is that it will obviously be less than the cost of replacing new for old.

The valuation should be the cost of replacing it with a new item rather than what you could sell it for secondhand.

Is it a particularly expensive bike or particularly budget policy?

dunstonh

Is the bike a high value item specified (model/type and value) or just captured under the generic bicycle cover?