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I just added a couple of my bikes to my household insurance policy, total value of the 2 bikes was £3,700 and the additional premium was about £275, does that sound reasonable compared to other people or are there some special secret cheap specialist insurers I should look into?
M&S are always raved about.
Our mortgange is with The Abbey/Santander and so is our buildings and contents insurance. Last year I added a £2600 mtb to teh policy for just £50 extra/year. I thought that was pretty good but I may just be reaping the rewards from having one of Abbeys 'products' off the back of another.
I am no financial guru though, my mortgage on the other hand is pretty rubbish - we are tied in to a fixed rate from back in the days when things were much higher!
Oh there is also no crime here (bike gets nicked tonight I bet you).
I have M&S contents. £200 pa for contents and "all risks" for personal items including bicycles - up to £4000 each individual item.
They paid out no quibble with a theft as well - and the bikes are protected away from home as well - as is my camera and similar things
So I would say get an M&S quote for contents and see.
Its not what you pay out - insurance is only worthwhile if the policy pays out upon a claim.
I have E&L cycle insurance. The premium was £67 and odd pence for £1,000 cover. I got it for the commuter as several have been stolen from the bike park outside work.
Sounds ballpark.
I just realised our stable has a not insignificant replacement value, and my insurers quoted me an additional £25/yr for non-specified bikes up to £500, and then £50 for £1k bikes, £80 for £1.5k, £106 for £2k (these are with a 25% discount, I think because they felt sorry for me - we've 9 bikes in the household).
They said bike insurance premiums are horrid because they always get stolen.
£200 for my quiver seems good, I may look into M&S.
Get good contents like M&S and your sorted.
I've just renewed with M&S based on recommendations here, coming from Direct Line last year.
M&S cover the bikes as standard with the "property away from home" option, Direct Line cover "property away from the home - except bikes." An oversight on this little fact left me a grand out of pocket earlier this year.
For the same cover (plus bikes), M&S were 100 quid cheaper than DL. Win.