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As above really..I don't because the cost seems so high but have lost over £3k worth of parts and bikes in the last few years. Wonder if I would have spent more than £3k in insurance in the same time period. Probably not. Which means I've lost out. But maybe I could have locked them up better...Hmmm
cost high ? why?!
I insure all my bikes above their value (because of added bits), costs about £50 a month...... 5 k's worth...
around 12% of the value of your bikes every year. Not bad and much cheaper than the quote I received, but maybe that's because of where i live...
Question came up because a mate of mine doesn't insure anything he doesn't have to (i.e only car and buildings ins) but has the good sense to put cash he would have spent into a savings account that he will use if anything stolen. To date he's been lucky and has a large pot saved.
3 bikes stolen in 25 years, got one back, only the first one was insured & haven't bothered since.
Mine are insured thru the house insurance for replacement new value all risk up to £4000 M&S unbelivable value at a couple of hundred quid