Looking for Building and contents insurance that will cover a few bikes inc a £7.5k V10 and a £6k Nomad. Its my first house so apologies for the thread just making sure I get some descent cover.

Tried some of the usual suspects via price comparison websites and M&S and The AA who I have seen mentioned on here previously. M&S wanted £1553! to cover a 3 bed semi and the bikes, The AA have been rubbish in getting back to me so I’m not massively convinced.

I saw Pedal Cover mentioned on a previous thread on here. Spoke to Darren the owner – he’s a Broker and cyclist who has arranged insurance (through AXA) that covers bikes under £10k without them having to be individually listed on the policy. Policy looks very competitive compared to anyone else when you take in to account the ‘new for old’ replacement and from a bike shop of your choice etc etc. Was quite refreshing to talk to someone who actually sounded interested in helping and getting the right cover and actually understood trying to get cover for bikes rather than a grumpy call centre drone!

Just wondering if anyone here had used Pedal Cover and made a claim or had any thoughts on the cover they offer?

Ta in advance.

I don’t think the broker is that important as most of these stand alone policies seem to be underwritten by AXA, perhaps one broker or another will help you more or less should you need to claim but generally the terms are the terms.

Previously on these threads I have advised strongly against standalone policies because they MUST have exclusions that will be impractical for most cyclists. These are needed to protect the underwriter from the increased risk presented by customers who are self selecting themselves as at risk of losing a high value bike by seeking out a standalone policy.

Contents policies historically spread this risk across households with no or low value bikes. However most general insurers have now reacted to more household having more expensive bikes in the garage and added exclusion to their home contents policies too.

Tricky one now..personally I’m keeping my bikes at home in such a way that they are covered by my contents policy(read the policy carefully) and away from home there never out of sight.

Have you tried Allianz your cover? We have them for buildings & contents. Added two bikes, one 2.5k the other 3.5k. Only added something like £60 to the annual premium. That includes cover away from home so long as they are locked with a sold secure gold rated lock.

I don’t think the broker is that important as most of these stand alone policies seem to be underwritten by AXA, perhaps one broker or another will help you more or less should you need to claim but generally the terms are the terms.

Wrong on both counts. The broker is important, pedal cover have negotiated a deal with the underwriter specifically for people who want to insure expensive bikes away from the home. They also insure the excess so it’s effectively zero. If you have to make a claim it goes through the broker and you get to replace your niche bike with another niche bike from a retailer of your choice. Their policy is underwritten by axa just like M&S but less than half the price and with cover for bikes over £2k

Yes, Yes, You They all say we’ve negotiated “special” terms, what are they and please be specific and quote the exclusions not whats on the website landing page.

If its cover at the transition stage of a triathlon, I’m oot.

Contents will be like for like and M&S should not be the only comparison and also your not being clear, half the price when covered at home or half the price when selecting away from home?

Does the pedal cover still require me to carry a 2kg lock whilst out on my 6k carbon bike?

Lastly how will the broker help at claims, will they be able to claim for something thats not in the terms?

More concerning still are their dubious (possibly misleading, who knows) policy benefits suggested on their website but the absence of or very well hidden actual policy terms make them meaningless.

Which claims do you consider dubious / misleading?

On paper, and reading the Policy doc I have, the cover is better than M&S quoted including Away from home and away from home accidental damage but over a grand less.

Possibly misleading…I don’t know if they are or not, since they don’t publish the terms which will have exclusions on the same website they make claims about the benefits.

That in itself is suspicious.

So again and as above, can you be specific about how its better including the exclusions not just the benefits?

Why don’t you ring or email them with your questions.

Because the OP asked and I’m not coming on a forum trying to tell anyone how good they are, when they actually look pretty dodgy.

You lot should be clear about your connections to this company.

No connection apart from insuring my home contents/bikes over £2k with them, and saving £400 in the process.
I’m not looking to justify my purchasing decision, worry about the choices other random people on an Internet forum make or spend time producing a comparison document of policy conditions/exclusions in an easily readable format.

No thats what the company should be doing.

Not providing the terms before purchase is common tactic of dubious companies trying to sell financial products, they make a lot of noise about the benefits but are less clear about the limitations.

Possibly not in this case, perhaps their just incompetent.

Does the pedal cover still require me to carry a 2kg lock whilst out on my 6k carbon bike?

Seems pretty clear to me:

Q? What type of cycle lock do I need?
A. We don’t stipulate a make or specific brand as long as it is able to secure the bike.

From their FAQs

@ “wilburt” – Obviously you’d want to delve into the details of the policy wording and have it to review before you signed up to anything, but where’s the harm in contacting them, asking for a quote/guideline policy document and challenging their claimed benefits?

STW-

The marketing for this broker is managed by this company Ignition who look equally dodgy and given the one of their suggestions

13. Encourage employees to interact with current and potential customers: Boost worker participation in social media. Build a rapport and get to know your customers, they’ll be more likely to offer feedback this way and recommend you to their peers

It would seem likely some of the comments above are from employees of the company and may be designed to mislead readers and avoid the regulation normal advertising would require.

Is that wilburt? (middle with glasses)

Obviously you’d want to delve into the details of the policy wording and have it to review before you signed up to anything

.

No thanks but I look forward to seeing the directors on watchdog soon.

I have no connection to the company other than talking to them on the phone for a quote.

Having never had Buildings / contents insurance insurance I was after some real world experience of them if any was available. I have had car insurance for a decade I suspect I’m competent enough to read the small print!

The small print is the product, not reading is like buying a bike but not caring what kind of bike and one persons experience may not be yours.

Still not convinced this whole thread isn’t a little marketing wheeze, so ill leave you to it.

Recently done my home building & contents insurance including several not inexpensive bikes and the best 2 quotes I got was through Allianz & Home Protect.

Home Protect were also giving 50 quid cashback if you go direct rthrough their site. Quotes were around £230 including bikes but I suppose that’s meaningless unless you know where I live and what bikes I own. M&S’s last quote 2 years ago was for £830 – this was after several years of being a loyal customer.

Ffs. What do you want a scan of my house contract!!!

Wilburt – can you clarify you don’t have ulterior motives in casting doubt on them? Do you work for a rival company?

Have you tried Allianz your cover? We have them for buildings & contents. Added two bikes, one 2.5k the other 3.5k. Only added something like £60 to the annual premium. That includes cover away from home so long as they are locked with a sold secure gold rated lock.

Do they stipulate what that standard of lock has to be locked to? Interested as I’m due to leave M&S in the next few weeks, and am looking for good alternatives.

Just a fixed non removable object as far as I can remember. I don’t tend to leave them to be honest as I dread to think what a claim would do to any future premium! Most important for me was that they would be covered in the house (no lock required) and also if left in the car if I’m out and about.