To Insure or not insure

[fatboytrig]

Hi All, Would love to hear about people's opinions on insurance. I have a few questions, if anyone can answer them?

1. Who are the best insurance providers?
2. where can the best prices be found?
3. Roadside assistance. Is this worth it? ...really?
4. Public liability? Again, is this in case I run someone over or something?
5. I like the bit where if I damage my bike, they lend me a replacement while mine gets fixed.

Pricing for me seems to be around £58 per year, at least on the advertised insurance provider on this site. Is there anywhere better (cheaper) Or perhaps not cheap but better value for money?

Matt

 

[eddieo]

try your home insurance first mine cost extra £20 per bike and covered here and in Europe when away in motorhome.....

EDIT:

I changed home insurance to Tesco because last one would not cover pedal assist bikes

 

[flecc]

Three previous threads on the insurance subject may be helpful:

Thread 1

Thread 2

Thread 3

 

[jerrysimon]

This and those posts deserve a sticky in this post

Jerry

 

[Scottyf]

The personal liability one is probably the most favourable one for cyclists as a just incase if your riding one the road.

If your commuting with your cycle its probably worth the money. However alot of times you can get your bike insured under your house insurance.

The road side assistance I've always thought it was fairly pointless unless your touring. Most just drop you at the nearest train station and most won't repair punctures. In which case its better you spend the money on decent puncture resistant tires.

As with most things it will depend on your use.
I could benefit from having it insured but as I never leave my bike anywhere dodgy, don't ride like a complete tool and don't have to insure it combined with the fact I prefere doing my own repair work I've never really bothered.

Still its cheap and the peace of mind must be nice.

Thats what I loved about being with the AA when my car's forever blowing up...

 

[morphix]

Ok here's my two cents worth this.. I looked into the whole issue of insurance when I first decided to get an electric bike as I worried about leaving it anywhere and having it, or the battery, nicked or vandalised.

I must say I was not impressed by what insurance companies offer us. There are two well known companies offering insurance specifically for ebiker users but one is completely worthless (Cycleguard - check the small print) and the other ETA will only insure brand name bikes with a registered serial number and only to the value of their original specification.

I tried contacting other regular insurance companies, and of the ones that even bothered to reply, most would not touch electric bicycles and many didn't even know what they were! I managed to get one company of the replies I got who agreed to insure, but only the bicycle (not the kit or battery)! Heh.

In the end I decided to get a folding bike so i can store inside and just make my battery and most of my kit removable from the bike. I also bought a couple of decent locks, but I so far haven't needed to use them as I never leave the bike outside anywhere.

I think unless you have a brand name ebike or a very expensive bike you have converted, don't bother with insurance. Save your money and buy a decent lock (or two) and a nylon cover for the bike.

If you do decide to get insurance, check the small print carefully. Some have so many clauses it makes the policy worthless in some cases. Like Cycleguard: No cover if the battery or part of your kit is nicked or vandalised. No cover against theft from outside your home, unless your bike is chained to a wall in your garage/shed and the lock and fixtures meets their requirements.

 

[funkylyn]

Mine is insured up to £1500 on my household insurance with no extra charge.
Its also insured on my motorhome insurance with no extra charge.
My advice would be to include it on your house insurance and see what they say.
I am with the AA this year but my previous one was just the same...
Lynda

 

[fatboytrig]

Thanks everyone.

I have checked with home insurer who say that my bike is insured also away from the house but oh no, not if its an e-bike - Doh! It's as if I have two heads or something.

Not sure that public liability is a problem. I am very careful, especially when people are around and there aren't that many people I meet on my commute.

Actually, even with theft in mind, I live in a very low crime area and even when I ride into town for work, my bike is locked up in a cycle shed, right by the security office on a very closed sight.

I suppose it is just for those moments where I do want to go to the shops or wherever. I also suppose there could be accidental damage. Oh I don't know.

Based on the threads above, hearing how the insurance companies don't cover for quite allot of things, unless its the 6th Tuesday of the month and the moon is eclipsing Jupiter or something... I am not convinced I really need it...
Oh but then its only about £40...
Oh, I don't know...