a question about insurance

artichoke23

Just Joined
May 17, 2021
3
0
I've just inherited an electric bike (a momentum model t, cost new about £1300). My home insurance only covers bikes up to £350. I can add my bike for an extra £20, although I'm slightly worried about this as they say there is nothing they can send me which has the wording of the insurance as it relates to bikes, so I'm in the dark about what the details are. Also, they say it would only be covered if I had a 'sold secure gold lock'. I already have an incredibly thick Abus cable lock, which was sold to me some years ago as the strongest lock I could buy, but because it's old doesn't have the official gold rating. I don't know whether to but a new lock and go with my home insurance policy (which seems a bit rubbish as other policies automatically cover bikes up to £1500), get a stand-alone policy, change my home insurance... anyone have any suggestions? thanks
 

vfr400

Esteemed Pedelecer
Jun 12, 2011
9,822
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Basildon
A stand alone policy will be very expensive. I'd save my money, not bother with insurance and use the lock you've got unless you're going to lock it in the same public place every day.

No doubt if you get your £150 stand alone insurance, your bike will pack up the following day and you'll lose twice.
 

Lancslass

Esteemed Pedelecer
Nov 3, 2015
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Egerton, BL7 North Bolton, Lancashire
If you have to pay another £20 for additional insurance, which isn't clear about what is insured, and you also have to pay a goodly amount for a new lock when you have one already that you are happy with, you should probably look around for other insurance. When you are comparing insurances you should obviously then take into account the extra amount that your current insurance is demanding.
 

artichoke23

Just Joined
May 17, 2021
3
0
thanks. Another question: does anyone have any recommendations for home contents policies which have good cover for electric bikes (eg up to £1500 automatically). I'm thinking it might be worth just forgetting about my current home insurer and starting a new policy with someone else with better coverage.
 

RossG

Esteemed Pedelecer
Feb 12, 2019
1,628
1,646
Then you have the problem of Public Liability when you whack into someone and they try and screw half a million out of you. If you're that concerned about insurance you might as well go all the way and get covered for everything, mine does the lot all for less than £2 a week.
 

Neogeo

Just Joined
May 18, 2021
2
0
A stand alone policy will be very expensive. I'd save my money, not bother with insurance and use the lock you've got unless you're going to lock it in the same public place every day.

No doubt if you get your £150 stand alone insurance, your bike will pack up the following day and you'll lose twice.
My insurance is only £10 per month for a bike worth £1800 and it covers accidental damage , Pedalsure
 

richtea99

Esteemed Pedelecer
May 8, 2020
434
283
> My home insurance only covers bikes up to £350. I can add my bike for an extra £20, although I'm slightly worried about this as they say there is nothing they can send me which has the wording of the insurance as it relates to bikes, so I'm in the dark about what the details are.

Re--reading that it sounds wrong, otherwise they couldn't put the £20 price on it. If it was over the phone maybe they just didn't have the docs to hand? Worth a second call I reckon, since £20 per annum is the correct sort of extra amount for decent bike cover. Who was the company, by the way?