I may just take Barclays up on bike only cover as Co-op have been OK on other stuff.
Timely thread this - I've just gone with the Barclays £5k bike / home insurance. £220 vs £360 Pedalcover (which was £260 last year).
I’m with Barclays bike insurance too, about £10 a month, and will cover all 4 bikes. The costs from specific bike insurance companies is astronomical in comparison.
many other insurers wouldn’t cover bikes if they were inside a vehicle or locked on to a car.
You’d be surprised that most do, I usually change insurer each year and a lot of them do cover it, there might be a nuance but I’ve certainly not found one that won’t cover a bike being locked to an immovable object such as a bike rack locked to a car.
Locked in a car is totally different to locked to a rack outside the car
Bizarrely most insurers cover the later despite it being arguably easier to steal the bikes from a rack but very few cover the former, even if bikes are locked to a fixed point inside the car
Pedalcover did, and that was why I was with them for 5 years
Halifax also do, providing bike is not obviously visible
I had weeks of trying to sort this years ago as I used to take my bike with me when working away so it would often be left inside the car in hotel car parks, less of an issue now I have changed jobs but still nice to know you are covered. I very rarely have the bike on a rack and would never leave it unattended if I did, I’ve seen how quickly a bike can be pulled off a rack and the damage it can do to the rack and the car
Pedal Cover has told me it's not new for old, itcs non depreciating cover. You cover for the RRP of the bike when you bought it and if the price goes up, you have to take it on the chin. Not easy to do trying to remember the RRP of each and every part on a custom build!
Any positive or negative gotachs with LV= insurance I need to be weary of?
As ever, trawling though policy documents has left me more uncertain than when i began!
Any specific questions, just go on the website and use the chat. I asked mine about coverage in a separate garage (it came up in a previous insurance thread) and got an answer straight away.
Pedal Cover has told me it’s not new for old
Specified Item cover on alllll the policies I've taken out in the last 10-15 years has covered an item for the value you (ahem) specify. Doesn't matter whether its a bike or a designer handbag.
Yep, that's what I'm struggling to get my head around. If I want to pay a premium that gives me X amount of cover if item A is stolen, what's the problem?
Also with Aviva as herself (and MCTD) get a deal with them for being a public servant.
We're not up for renewal for a while but I always keep an eye on these threads for tips (so thanks everyone).
Those saying Barclay's bike only insurance, does anyone have a link? I just seem to be finding home insurance policies.
I've been with Aviva for several years now. House and bike insurance premium <£200 per year. Covers multiple bikes up to £2.5k (each) which is plenty for me.
Specified Item cover on alllll the policies I’ve taken out in the last 10-15 years has covered an item for the value you (ahem) specify. Doesn’t matter whether its a bike or a designer handbag.
Have you ever actually tried that though? Eg car insurance requires you to provide a value but they will only pay out on their valuation so you can't insure a Ford for ferrari money then "accidentally" wrap it round a tree.
It's not car insurance*. It's house contents insurance with specified items. If in doubt, do the online chat.
*car insurance takes into account devaluation.. car insurance is a legal requirement, so is a massive con.
PedalCover have just told me that they won't renew my policy, apparently NIG (the new underwriter) think I live in a subsidence risk area. What that's got to do with contents insurance, i don't know?
Maybe they're worried all your stuff will get squashed when the house falls over?
Quidco compare got me the home insurance (buildings and contents) from esure for £140. Accidental, new-old, legal etc etc. Bike valued at £2k covered away from home too.
And I get £28 cash back in 3 months or so
Timely thread, looks like I'll go with esure - for better bike cover at a lower price.
The revised Pedalcover terms (you get what you paid for it) don't really work well for those of us who've put together a nice custom bike with a string of bargains and a secondhand frame.
@John_l Thats interesting as I have had exactly the same message. Nobody in my neighbourhood is aware of any subsidence risk...
+1 for Barclays.
Have been meaning to get around to this for a while, so thank you to all posters for your input - wouldn't have immediately thought of Barclays for this sort of thing.
Very simple procedure. Good value. Excellent level of cover. Have looked at the policy documents quite closely and it all seems in order.
Now have our Pedalcover renewal and it's marginally cheaper than last year, didn't anticipate that given the comments here.
However, taking a bike-only policy with Barclays then using comparison sites for buildings/contents without bikes works out £120 cheaper all-in. Yet to read through Churchill's Ts&Cs but at least it's a company I've heard of (oh yus).
Having bikes on separate policy to the house/contents sounds better to me - makes it easier to shop around for house/contents in future without having to consider the bikes. But am I missing some obvious downside, other than potential for multiple excesses in the event of e.g. a break-in that involved both bikes and house contents?
I'm surprised it's cheaper to get separate policies, that might indicate that you could get a cheaper combined policy by shopping around?
Also, do note the changes to Pedalcover's, erm, cover for bikes - due to the change of underwriter.
I was surprised too. Already shopped around for combined policies and Sheila's Wheels and esure both cheaper than my Pedalcover renewal, but still £50 more than separate policies would be. Strangely Barclays aren't competitive for a combined quote.
And yes, I definitely need to read more into the changes to Pedalcover's pedal cover - doesn't sound good as "The revised Pedalcover terms (you get what you paid for it) don’t really work well for those of us who’ve put together a nice custom bike with a string of bargains and a secondhand frame." doesn't work for me either - custom builds only for me.
NIG (the new underwriter)
if NIG are the new capacity provider for pedalcover's scheme, i'd make sure you go through the docs with a fine tooth comb. if their personal lines policies are anything like their commercial policies they will be full of warranties, conditions and exclusions and their claims service isn't sparkling (again, only have experience on the commercial side though). personally it being NIG would be enough to make me look elsewhere
Yeah, I could see documenting the value of my bikes being a right ballache if I had to make a claim. And the general tone made me fear they might be awkward about it.
Ally - Might be worth trying esure.
My pedalcover renewal is similar pricewise but the cover does not look as good.
If I read it correctly Barclays does not cover theft from inside or on top of a car (though it also does not specifically exclude either).
The shortlist is now down to Ensure and M&S. Possibly Hastings if I could ever get them on the phone (on line doesn't let me specify all items). You'd think someone would pick up the phone for new business. Maybe that's a sign.
For those who have taken out policies with these recently, is there anything in policy document that raises alarm bells?
Good timing this thread!
Those with esure - Are you sure the bikes are covered locked in a car/van overnight?
Just tried to get a quote and they've said I won't be covered with bikes locked away in a van.
Those with esure – Are you sure the bikes are covered locked in a car/van overnight?
Just tried to get a quote and they’ve said I won’t be covered with bikes locked away in a van.
It's closing on a year ago but that aligns with my conversation with them at last renewal. Basically "The exception clause as applies to theft from a motor vehicle takes precedent as its an exception to cover" eg your bike/imac/20carat ring is covered to (Iirc £450) the limited max if nicked from a vehicle despite being a specified item. Bikes are covered overnight locked to a lamp post beside the car though 🙄 laptops from bags, jewelry from hands etc, just not from in a car.
Thanks @dangeourbrain
Looks like it's the same with M&S. Bikes covered at home but not covered when left unattended in the van...
Don't read too much into that @yorkshire89 or take it as fact, as I say, closing on a year ago and these things do change but that's my experience at least.
I specifically checked my bikes would be covered in a locked van, if not visible from outside, and the esure lady confirmed they were (after originally saying not).
Perhaps I should look at the policy wording in detail though.
@Mat Yes, that's right. On the 2nd page "Your Cover", select "Other types of cover", scroll down to select "Bike". Gives you the option to bolt it onto a policy or just have it as a stand alone one.
https://insuranceportal.av.qs.online-insure.com/bain/Quote/YourDetails
Re Esure, I was told on the phone that bikes would be covered in the locked car providing they were covered/out if sight. I'd want it in writing though.
I specifically checked my bikes would be covered in a locked van, if not visible from outside, and the esure lady confirmed they were (after originally saying not).
Oh my conversation, start to finish, was they *are* covered, the issue was all claims from a motor vehicle are capped at the exception limit. So yes, covered, but only really for a fraction of the cost.
If I were to guess I'd say largely down to the number of valuable items "left in vehicles which were stolen", a bit like the number of missing suitcases which contain wallets full of cash and 5k of DSLR etc not just a week's worth of washing.
So hang on a sec, were you talking about bikes as specified valuable items on the policy?
Had another call with Halifax this time. Specified bikes and wanted to check they are covered away from home unattended in a van.
Person on the phone says they are covered, but can't provide an email or letter confirming until I've bought the policy...
Also said I don't need to worry though as the full call is recorded and will be used if I ever claimed (they wouldn't give me a copy of the recording).
So hang on a sec, were you talking about bikes as specified valuable items on the policy?
Personally, yes. But to reiterate, it was about 12 months ago and what may (or may not) have been correct last week, let alone back then, is no indication of what's correct today.
Edit : had a dig back in my old downloads, this is from the significant exclusions section on my policy booklet.
• theft or attempted theft from a road vehicle, unless the item(s) was contained in a locked boot, concealed
luggage compartment or glove compartment of a locked vehicle, which was broken into by using force
and violence - the maximum amount we will pay is £750
Re Barclays (just spoken with them)
No cover if bike is inside a vehicle as you would need to add their "Personal items cover" BUT then this will only pay a max of £1500 for theft from an unattended vehicle.
However if stolen when locked to a bicycle specific carrier which is also locked to the vehicle would need be referred to the underwriter for a ruling.
FYI, Sussex address, £50 excess & £3500 cover is £94 for the year. Adding £1.5k of Personal items cover bumps it up to £138
For a bike specific insurance I got my best quote from Eversure. Very comprehensive cover that seemed to tick every box including accidental damage and racing.
Bump, anyone got anything tha isn't voided if you work from home and do anyting more than computers and paperwork? Mrs NBT makes curtains, we';re not looking for business cover but lots of insurers just say "oh no we don't cover that"
I have just had an interesting experience with M+S, Phoned on weekend to ask about Bikes in Vehicle. Told they were not covered, I questioned this because I knew they were covered last year I phoned up. I rang during week to two separate handlers to be told they are covered in Van, if van is locked and bikes are locked in the van. Also insured if locked to a locked on cycle rack. Well done M+S.
Bumpity bump (queue a load of responses to post 1, page 1 😛 )
Just changed mine (using a price comparison site) to Quote Me Happy, when my previous put the renewal price way too high (why do they do that!?)
Thought it was interesting, because Quote Me Happy do bikes a different way to all the others I've used in the past 10-15 years. Bikes are not 'specified items', they cover them as "Personal Belongings – Pedal Cycles" up to a given limit. So if your most expensive bike is £10grand, all bikes are covered up to that £10K limit at home and away.
Mine's £4K, cos bikes are all old, and its £29 a year for the bikes.
They are only insured for £1.5K if they're stolen from an unattended car, which may put some off.
Just noticed they only insure up to 5 bedroom houses, so unfortunately that's most STWers out 😉
Anyway, thought it was worth adding on here.
Just noticed they only insure up to 5 bedroom houses, so unfortunately that’s most STWers out
Good info. Did they say anything about if you've got an orangery?
Yep, says put Sudocrem on it
QMH have a 5k limit for pedal cycles, which mirrors the Aviva cover its based on.
