So a recent purchase is to high of a value to be covered under the house insurance as a specified bicycle, what are the current recommendations for a good insurer please?
Thanks
I asked exactly that question last month . To save you some time I ended up with Halifax buildings and contents , my Orbea Rise was £5,500 which is too much for a lot of companies yet in the scheme of things there are a lot more expensive bikes out there . Just how people get them insured is beyond me .Was with Saga for years chugging along at under £300 for years then in one fell swoop up over £600 !!! They offered 3 year fixed price I reckon they try and make up any shortfall in one go !
Also with Halifax you can pay monthly at no extra cost 3 levels of cover Bronze , Silver , Gold . I opted for middle for diddle .
To save you some time I ended up with Halifax buildings and contents
That's bizarre, thats exactly what I already have. They told me they won't ensure a bike over £5k and there was a total £10k limit on numerous bicycles.
Pedal Cover still seems reasonable for us, albeit at a higher premium than mentioned, but that is for house and contents on a fair-sized house and a number of bikes.
My one claim with them was handled Ok too.
Pedal Cover still seems reasonable for us, albeit at a higher premium than mentioned, but that is for house and contents on a fair-sized house and a number of bikes.
One thing to watch - they changed their T&Cs a couple of years back such that the "theft away from home" cover required the bike to be secured with a gold-standard lock, where previously they would have accepted a "cafe lock" if you were out on a ride. I kinda get why they did it (and I assume they'd been screwed over by it more than once), but it effectively invalidated any theft cover when out riding, which was one of their USPs and was a little disappointing.
They also used to just ask for the highest value bike and would then insure the rest under that, but now you need to provide an itemised list - something of a pain if you change them frequently.
I switched from Halifax about 3 years ago to Aviva and my insurance went from £1k to £500.
As many bikes as you like, don’t have to specify them, £5k limit per bike
£5k limit per bike
Thats the issue, needs to be above that.
Cycle UK discount with pedal cover. It's a bit of a pain if you have old bikes (receipts) but I decided that as I don't ride a couple of the other 20 yr old bikes, I wouldn't actually notice they were nicked so doesn't really matter! One was more important and I managed to find a screen grab of the eBay listing with my username as the winning bidder and they said that would be ok (nothing better as the seller cancelled the sale to dodge the selling fees!!!)
We're with Nationwide home insurance, although our most expensive bike is (just) below £5k. It's discounted if you have a Current Account with them.
Pedalcover- I had significant issues with, and felt I was lied to over their extra policy to cover excess. They also now seem to have some restrictions about how you lock them up away from home and in the property.
We use the Admiral's multicover for our cars and house insurance which has specifies bike insurance. Just added my new Cotic to it and the annual price went up by £23, most of which was their amendment fee. Doesn't seem to be an upper limit on the cost and for me, the lack of hassle when thinking about car ins and home ins is a winner.
Currently with LV for buildings and contents, with bikes as specified items. Good cover for bikes stored out of main building (in workshop), away from home and contents in out buildings were key for me. Had no issues on replacement value of the bikes (£16k in total). About £450 for the year at their gold level (I think it’s called) for a 3 bed semi in semi rural location), which isn’t bad given I had a £20k claim last year for theft of bikes and tools
Previously with e-sure who were about half the price but some of their sub limits and cover not as good as LV. We’re a little slow on handling the above claim (had to make a complaint and then they resolved asap) but paid out in full with no challenges. Come renewal the premium increase wasn’t too bad but onerous conditions to comply with - remote signalling 3rd path on house alarm
Was with pedal cover for many years, but as others have said they changed their cover & sub limits - bikes in outbuildings at home £5k max iirc
We’re with Nationwide home insurance, although our most expensive bike is (just) below £5k. It’s discounted if you have a Current Account with them.
<h3 class="NelComponents__Heading-sc-vsly48-4 oIXNa vertical-rhythm--h3 nel-Typography-455 nel-Typography-449" data-component="Heading3" data-analytics-context="true" data-ref="heading">Bicycle Cover</h3>
<div class="Content-sc-mh9bui-0 gxRZfD RichText__StyledRichTextContent-sc-1j7koit-0 kEMZDj vertical-rhythm--richText passthru" data-component="RichText">Get cover for your bicycles anywhere within the British Isles, and for up to 90 days around the world. This includes electric bicycles, tricycles, unicycles and cycling accessories.
We'll pay up to £1,000 for each bicycle you take away from home, including hired bicycles if you're responsible for them.
You'll need to tell us about any bicycle worth more than £1,000.
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Is bike cover a separate add-on Matt?Nationwides description above doesn't seem to match your cover.
I've found the whole cycle insurance thing so obscured by the companies that I've just stuck with Hiscox and their unnamed 15k total/3.5k away from home over the years, but now have to add a named bike to cover for the first time since I've breached the away-from-home limit of 3.5k.
Cycleguard look a good balance of cover & price, does anyone have experience with them? The Trustpilot reviews are positive.
Thoroughly recommend avoiding bikmo.
Aviva cover ours though that's through a Civil Service special.
matt_outandabout
Full Member
We’re with Nationwide home insurance, although our most expensive bike is (just) below £5k. It’s discounted if you have a Current Account with them.
I am going to now say we *were* with Nationwide.
I forgot that this year we have split Contents and Buildings. It was significantly cheaper, and better cover.
Contents is with Aviva - and we have cover for upto £4.5k per bike (covered multiple bikes, in shed. locked on car, in car, in our possession and on holiday), £7k of other stuff away from home etc etc. For £145 this year.... (We are in a low crime area, but do have a claim from 2 years ago).
Ok, ended up with an annual Cycleguard policy because it can be cancelled with a pro-rata refund because...
...upon my renewal in April Halifax will move me on to a different class of policy at an extra annual cost of £115 to cover all bikes, even the expensive one.
Admiral multi-cover here too.
Premium came down this year and in fact it's the first time they've come out cheapest against comparison sites (normally Hastings and some unknowns) on House insurance aspect alone. Normally a bit more but not worth the change, especially after Car insurance accounted for.
Specified items don't seem to have a huge impact but things do tend to add up. They are also good on non-standard stuff such as my imported vehicle.
Dont start me. I had DL buildings and contents a couple years ago and had a few bikes named (anything over a £1k), plus a couple not listed as it bumped the renewal premium up. I made a claim for a broken Ti winter bike and they paid out all good. The next renewal they wanted a list of every bike I had (inc serial numbers) even if not being insured. I gave up and went somewhere else
Anyone got a quote from/tried MucOff? - Email offering insurance just landed in my inbox... mentioned a gold standard lock though - not even sure what one of those is as it seems any lock will be defeated by someone with an angle grinder. If they don't have an angle grinder/tools then surely any lock is just as effective...
Anyway...
I quoted from pedal cover the other day but £6k of bike cover was twice annually what my car (£9k car maybe) costs. £450 fit bike. Nope.
