What do people do about insuring their bikes and what does it cover? Is it better to have specialised insurance or add it to household policy? If it's stored in a locked shed, what does that do to the premiums??

My household insurance is with Halifax/Lloyds.

Rang them to increase the value of our bikes and was told that if an e-bike can operate without pedaling ("twist-and-go") then it is classed by the insurers as an electric vehicle and can't be covered by household insurance, but if it is just electrical *assistance* to help you pedal, than that's OK.

 

Previously we had unspecified bikes to a maximum of £500 each. Changing this to two named bikes at £750 each (plus up to 17 other unspecified bikes to a value of £500 each!) seemed to make no difference to our premium - with other small changes we are now paying less than last year.

 

The guy didn't ask about how we store our bikes, so can't really help with that bit of your question.

Ah, that's cool, though I think my bikes might be a little too valuable to add to the household insurance without any effects!

 

Anyone with bikes worth >£2k got any advice? Anyone got insurance through one of the bike shops??

Ah, that's cool, though I think my bikes might be a little too valuable to add to the household insurance without any effects!

 

Anyone with bikes worth >£2k got any advice? Anyone got insurance through one of the bike shops??

 

I tried adding 2 ebikes approx. £3.5k total to the house insurance that has 6 months to run. Didn't go this route as there were several cycle specific insurance companies that offered 12 months policy with much better cover eg unlimited world wide use, public liability cover, etc for much less than the house insurers 6 months cover . Google cycle insurance and see what comes up.

I added my £2,400 bike to my Esure household insurance for £70/year.

 

Cheers

 

Kendalian

I have mine insured for the full replacement value plus accessories £2.5k with my house insurance. I use a broker and asked her to find me the best deal. Extra £60 per annum but covers away from home as well. My building, contents and bike for £250. I think contents are £100k and building £1m, low excess as well.

I added my £2,400 bike to my Esure household insurance for £70/year.

 

Cheers

 

Kendalian

 

Last year I added my Powerfly7 (£2,500) to my LV house&contents insurance at no extra cost. Covered "Anywhere" so long as I use a Gold Standard lock anchored to an "immovable object".

I have just re insured my two ebikes.

Problem was that to insure new for old the 7K replacement cost would be reflected in the premium so, realistically, I am guessing their value at two years old with 6000 miles between them to be around £1000 each and as such I have insurance for £92 for both bikes which includes.. Theft, Accidental Damage, Family Cover, Personal Accident, 2 mill public liability, £250 accessories and a free DNA marking kit from Yellow Jersey.

I thought that was OK but as I have had a recent claim I rang them to confirm, and all was good!

I have just re insured my two ebikes.

Problem was that to insure new for old the 7K replacement cost would be reflected in the premium so, realistically, I am guessing their value at two years old with 6000 miles between them to be around £1000 each and as such I have insurance for £92 for both bikes which includes.. Theft, Accidental Damage, Family Cover, Personal Accident, 2 mill public liability, £250 accessories and a free DNA marking kit from Yellow Jersey.

I thought that was OK but as I have had a recent claim I rang them to confirm, and all was good!

Sounds good! Who was that with?

Sounds good! Who was that with?

Yellow Jersey. I experimented with the values and sub £1000 its quite cheap but if you value over £1000 it soon gets dearer and as I hope t sell the Scott for around £1000 I thought it was fair.

The £92 broke down was £65 for one bike with 60% off for the second bike and 10% off for going through Quotezone (https://www.quotezone.co.uk/bicycle-insurance.htm) .

Can I ask if they made any stipulations about how you must secure your bikes when they are unattended, even indoors. zakventis in his post above says

 

''Covered "Anywhere" so long as I use a Gold Standard lock anchored to an "immovable object".

 

I read that as possibly saying 'it must be locked to an anchor' even if it's indoors and you're down the pub, what do you think?

Can I ask if they made any stipulations about how you must secure your bikes when they are unattended, even indoors. zakventis in his post above says

 

''Covered "Anywhere" so long as I use a Gold Standard lock anchored to an "immovable object".

 

I read that as possibly saying 'it must be locked to an anchor' even if it's indoors and you're down the pub, what do you think?

If indoors, the house or building must have 5 lever locks. If in a house that doesn't have 5 lever locks, in a shed or Garage that doesn't have 5 lever locks in must be shackled to the proverbial.... I didn't take much note of the type of lock stipulated for out doors as I never leave mine unattended, but they were offering a discount on a green strappy thing called litelock which they recommend, if that helps.

Yellow Jersey. I experimented with the values and sub £1000 its quite cheap but if you value over £1000 it soon gets dearer and as I hope t sell the Scott for around £1000 I thought it was fair.

The £92 broke down was £65 for one bike with 60% off for the second bike and 10% off for going through Quotezone (https://www.quotezone.co.uk/bicycle-insurance.htm) .

Hmm yellow jersey want £280 per year to insure my bike

Hmm yellow jersey want £280 per year to insure my bike

At what value?

If I did mine new for old it would be £380 so used a realistic second hand value.

Edited September 8, 20187 yr by Gubbins

At what value?

If I did mine new for old it would be £380 so used a realistic second hand value.

£3,400 :o

So just over 10%

So just over 10%

£10 less than my car

£10 less than my car

Makes you realise how cheap car insurance is.........or how expensive bike insurance is...

Makes you realise how cheap car insurance is.........or how expensive bike insurance is...

Yes - being over 50, car insurance is pretty reasonable - doesn't seem as if there are any similar allowances with bike insurance...

Thinking about the need for insurance and the steps I take to make sure I don't lose another bike..

I went to a garden centre to buy some winter lettuce seed and chose one (garden centre) with easy access through self opening double doors and wide aisles.

In I went wheeling my bike not causing a problem when I was approached by a staff member who said " you can leave that outside if you like mate" I responded with I don't leave it anywhere, where I go it goes! and carried on through the shop.

If it's stored in a locked shed, what does that do to the premiums??

 

I keep mine in a locked garage, don't know what it does for the premiums but I've been in touch with YellowJersey and they say that the insurer will consent as long as I use a floor or wall mounted anchor, a gold rated D shackle, and a cable lock through the wheels.Also the lock on the door must be a close shackle padlock, which means fitting a hasp for the padlock. All this comes to about £100 plus the £85 premium, so I'm looking at nearly £200 to insure a £1000 bike.

I keep mine in a locked garage, don't know what it does for the premiums but I've been in touch with YellowJersey and they say that the insurer will consent as long as I use a floor or wall mounted anchor, a gold rated D shackle, and a cable lock through the wheels.Also the lock on the door must be a close shackle padlock, which means fitting a hasp for the padlock. All this comes to about £100 plus the £85 premium, so I'm looking at nearly £200 to insure a £1000 bike.

Yes but you would still have to take those precautions for other insurers wouldnt you?

Yes but you would still have to take those precautions for other insurers wouldnt you?

 

 

Yes of course. I'm not knocking YellowJersey, I just hadn't budgeted for insurance when I bought the bike. My real problem is that I live in a first-floor flat so I can't keep it indoors.

Yes of course. I'm not knocking YellowJersey, I just hadn't budgeted for insurance when I bought the bike. My real problem is that I live in a first-floor flat so I can't keep it indoors.

Ah! I see your problem...