- Anyone with M&S insurance?
Just reading the policy wording – you need to declare any ‘collection’ over £4k. Couldn’t find any definition of the word collection, but do you think more than one bike would count as a collection?
If you have 2 or 3 bikes (yours&missus) which would be near the £4k mark to replace have you declared as a collection?Posted 7 years agoFuzzyfeltMember
I’m with M&S and have been meaning to check the small print. A mate has just had an insurance replacement through M&S; all seemed to go very smoothly & he got a very nice bike very quickly…….and then he got advised that he had another £2k to spend – his new bike had only used up £2500! However, they couldn’t advise how his premium would be affected.Posted 7 years ago
So, it would appear he could have claimed up to the full single item value of £4.5KrhidSubscriber
I am with m&s insurance with a contents only policy. However since taking out the policy my bike collection has grown. I have 3 bikes 2 of them over 3k (cost of a new replacement they are not actually both worth that!) and the other 1.5k. So, according to the info posted here, they do not count as a collection of items over 4k, they are individual items each under the 4k mark?
Can anyone clarify which it is? A coeection or individual items?
rhidPosted 7 years agotrail_ratMember
check the stipulations on that halifax policy
was waaaaaay too restrictive for me !
my m&s covers me for my stuff when im working away , covers me for bikes away from home and accidental damage long as im no racing . Halifax were basically only willing to cover me if i was standing with the bike when it was stolen ! – my have changed though !Posted 7 years agoallthepiesMember
allthepies – Greenbee is £5k individual item limit, including bikes.
Just got an online Greenbee quote and the following popup link appear under the “Pedal Cycles” section when the quote details are displayed.
“There is a total pedal cycle cover limit of £2,500 and a £1,000 single bike limit. This does not include motorbikes, mopeds or any other form of motorised bike.”Posted 7 years agoConradMember
I clarified this with M&S last year when I built my latest bike. Any number of bikes with a individual value not exceeding £4k are covered no worries. The question I raised with them was around building a bike with a combined value of all the parts in excess of £4k but no single part more than £2.5k – this would NOT be covered as it would be termed a collection unless it was added as a specified item and additional premium paid.
Another thing to note is that the value of a bike (or sum of it’s parts) is its RRP / replacement cost and NOT what you paid for it, i.e. if you have a £5k bike that you paid £4k for in a sale, this bike would NOT be covered unless you declared it as a specified item and paid an additional premium.
One more thing to note on the additional premium with M&S, you have to pay to insure the full value of the bike, not just a top up on the amount over £4k, so it does get quite expensive.Posted 7 years agoebygommMember
My premium went up with M&S, because we’d had a claim I couldn’t do the normal cancel policy and take a new one out thing. I looked around at all the above mentioned and a few others and there was nothing cheaper that covered our bikes to the same degree
Bizarrely my renewal documents said I had 3 years protected no claims but none of the insurance sites I went on had anywhere that asked if you had any no claims.Posted 7 years ago
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