Bike insurance requires gold secure lock but I have diamond secure, is the insurance still valid?

SneakySpectator

The obvious answer is yes, I'm using a lock that is higher rated than what is required, but as a technicality, they could deny any claim as they specifically said I "must" use a gold secure lock. 



Thoughts? 

Rodders53

Only the Insurer can give a definitive answer to you.  
Call / write to them and report back the answer  for the knowledge base.

MyRealNameToo

SneakySpectator said:

The obvious answer is yes, I'm using a lock that is higher rated than what is required, but as a technicality, they could deny any claim as they specifically said I "must" use a gold secure lock. 



Thoughts? 

Sold Secure website states that Diamond are higher rated than Gold so can't see the ombudsman ever backing up the insurer for them declining a claim when you're exceeding the requirement. 

SneakySpectator

Thanks, quick follow up question. The insurance quotes I'm looking at seem to suggest that the insurance is for when the bike is kept inside the home... But I need insurance for when the bike is left at work in a bike shed unattended at night. 

I'm being quoted £4 a month on a £1,510 bike so I'm guessing this isn't the correct policy and need something else?

Also I only store the bike at work for 9 hours, the rest of the time it's inside my home.

MyRealNameToo

SneakySpectator said:

Thanks, quick follow up question. The insurance quotes I'm looking at seem to suggest that the insurance is for when the bike is kept inside the home... But I need insurance for when the bike is left at work in a bike shed unattended at night. 

I'm being quoted £4 a month on a £1,510 bike so I'm guessing this isn't the correct policy and need something else?

Also I only store the bike at work for 9 hours, the rest of the time it's inside my home.

What quotes are you looking at? Home insurance? Bike insurance? 

If it's bike insurance, do you understand how it interplays with your home insurance? 

When at home is it literally inside the house or is it in a shed or some other outbuilding? 

Wife has a fairly expensive bike and it's covered automatically by our home insurance whilst in the home as it's below the specified item limit. Home insurers charge too much for it outside the home and a standalone policy would be much cheaper for us but as its never left outside the home and she's a fair weather rider so chances of her coming off it or being mugged for it are small enough that the £6/month isnt worth it for us. 

SneakySpectator

MyRealNameToo said:

SneakySpectator said:

Thanks, quick follow up question. The insurance quotes I'm looking at seem to suggest that the insurance is for when the bike is kept inside the home... But I need insurance for when the bike is left at work in a bike shed unattended at night. 

I'm being quoted £4 a month on a £1,510 bike so I'm guessing this isn't the correct policy and need something else?

Also I only store the bike at work for 9 hours, the rest of the time it's inside my home.

What quotes are you looking at? Home insurance? Bike insurance? 

If it's bike insurance, do you understand how it interplays with your home insurance? 

When at home is it literally inside the house or is it in a shed or some other outbuilding? 

Wife has a fairly expensive bike and it's covered automatically by our home insurance whilst in the home as it's below the specified item limit. Home insurers charge too much for it outside the home and a standalone policy would be much cheaper for us but as its never left outside the home and she's a fair weather rider so chances of her coming off it or being mugged for it are small enough that the £6/month isnt worth it for us. 

I don't have home insurance currently so I only need to insure the bike and the £4 I'm being quoted is just for the bike. 

When at home the bike is inside the home at all time, then when I go to work it's locked up at a bike shed at work over night. I basically just want insurance for if my bike is stolen when it's outside at work.

SneakySpectator

I think it's fine.

MyRealNameToo

SneakySpectator said:

I think it's fine.

What is the definition of Replacement Cost?  Cycle can be written on a new for old or indemnity basis so either you get what it would cost to buy it brand new today or you get what you could have sold it for secondhand immediately before the theft 

Herzlos

Check the actual wording of the policy, it'll state something like "at least gold" or "gold or higher", it's just not in the summary. 

Whether it's stored at work or not should be fine as long as the various criteria are met. So you'd need to check with them for an explicit answer as to whether the bike shed is covered. 

Lorian

Show us the security conditions on page 8.