I know insurance is a perennial favourite here, specifically contents + boiks. Pedalcover seems to be the flavour du jour, BUT their offering has changed.

I’ve just renewed and, apparently, All Risks New For Old payout is now reduced by 50% for boiks over 10 years old. This probably doesn’t apply to you serial swappers but for normal people, it’s a factor.

No way round it according to Darren.

Merde.

Changed a few months back. Bin dun. Hardly unreasonable, 10 years is a long time!

New for old on a 10 year old bike – where would you start?

New for old on a 10 year old bike – where would you start?

Depends on the bike, my road bike frame is now 13 years old. But the average age of the expensive bits is more like 5.

Then again, it’s only insured (not pedalcover) for quite a bit less than a new equivalent as I priced in an assumption that 10s dura ace was probably on a par with a new Ultegra build etc.

And 50% would give you a lot of choice on ebay if you were looking at 10yr old bikes. You could lose something like a Turner 5-spot (say insured for £4k new replacement value) and buy 3 with £2k!

50% of new value on bikes over 10yrs sounds alright.

Yes one of those I have an insured 5 on new for old

I think i would be buying SH and pocketting some change personally so 50% still seems very reasonable to me

Its not like when your car gets nicked you get the latest version in payout

Aye and it’ll only get worse I fear. They’ve grown fast and I suppose more premiums = more claims and axa will look to cover their ass.

I don’t think the unspecified item cover will be around much longer.

Still, I can’t even buy tyres for my 5 year old 26″ bike so if I could lose it and have half its value back I’d be happy!

But what about lovely old classics and stuff like that? Older isn’t necessarily obsolete.

Seems good to me. My bandit is 2012, it is pretty worthless as it is. 50% of £2400 for it any time after 2022 will be good money. Assuming brexit doesn’t cause mental inflation.

boblo – Member
But what about lovely old classics and stuff like that? Older isn’t necessarily obsolete.

Surely you’d be after an “agreed value” policy for something like that? “New for old” doesn’t really work and a proper classic might be worth more than its original price.

But what about lovely old classics and stuff like that? Older isn’t necessarily obsolete.

True, but classic mountain bikes are usually worth about the same as ‘old’ mountain bikes, with a few rare exceptions.

I can’t think of many bikes that you could own that would be worth more than 50% of the new equivalent?

It’s difficult, I’ve got a 2004 Trek Madone SL, it was a £1600 frame at the time, 1050g, got 11 speed Ultegra, DT240 wheels, weighs 16lbs. I imagine I’d get at most £2k for it, but to be honest a £2k bike would be inferior.

Still don’t think it’s an unreasonable exclusion though.

What would £2k get you secondhand though?

S/h isn’t new, as in ‘New For Old’ is it though?

A 2004 frame with Ultegra 11-speed isn’t exactly a “classic” either. What would it have cost and what would it be worth with contemporaneous componentry?

TBF, 10 years….depreciation…you’re probably doing well.

I’ll be sticking with them. Bloody great company.

S/h isn’t new, as in ‘New For Old’ is it though?

I think that’s kinda their point? That they won’t replace a 10 year old bike with a exact match new one? Which doesn’t seem unreasonable. My ‘dale is probably worth <£1000 even split as parts, but a new CAAD12 with DA and 1250g wheels is probably £3000+ which I’d feel daft even asking for.

I guess the devil is in the detail, what about frames >10yr old but with newer builds (or vice versa). And is it 50% of the purchase price, or 50% of what it would have been ‘new for old’, >10 years of inflation could easily be another 50%, especially in bike parts!

Depends what youre looking for..I have a 10yr old carbon bike, if it was nicked or damaged I’d like another carbon bike please.
Thats what my insurance would give me though so its not an issue.

As pointed out already, something has to give, theres a reason you cant offer bike specific insurance without additional clauses.