Anyone with M&S insurance?

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  • Anyone with M&S insurance?
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    Member

    but do you think more than one bike would count as a collection?

    no

    matthew_h
    Member

    Multiple bikes do not count as a collection. They mean things like stamp collections that you would value as a whole rather than individual items.

    DT78
    Member

    ok thanks, that’s reassuring, I thought it was meant for coins/stamps etc.. but it wasn’t clear when I was searching the wording for a definition.

    Premier Icon firestarter
    Subscriber

    cool ive always wondered that but not dared ask them lol

    matthew_h
    Member

    What we enthusiasts might refer to as a collection of bikes, they just think of as a garage full.

    Premier Icon firestarter
    Subscriber

    lol good good

    DT78
    Member

    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?

    Fuzzyfelt
    Member

    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.
    So, it would appear he could have claimed up to the full single item value of £4.5K

    Premier Icon rhid
    Subscriber

    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?

    Ta

    rhid

    nickegg
    Member

    Each individual bike is covered up to £4k.

    Premier Icon rhid
    Subscriber

    That is great news! I have been trawling through the policy document trying to clarify it and nothing is explained!

    Premier Icon ir_bandito
    Subscriber

    M&S premiums went up (quite a lot) this year as they’ve changed underwriters.
    So I’ve switched to Green Bee/Debenhams as they’re with the original cheaper under-writers

    allthepies
    Member

    Had a look at Greenbee but only have a £1K/bike limit with a total cover of £2K for a collection of bikes. Not enough for me I’m afraid.

    bland
    Member

    I had M&S previously but our insurance is now with Halifax as is teh Mortgage. I was amazed that it was only an extra £85/year to insure 4 bikes with a cumulitive value of £9.5K, so in short, M&S may not be the answer as it aint cheap insurance

    trail_rat
    Member

    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 !

    nickegg
    Member

    Don’t find M&S insurance restrictive either considering our premium covers 4 bikes and covers them away from home etc etc. Still cheaper than a stand alone policy.

    Premier Icon iain1775
    Subscriber

    trail_rat
    halifax must have changed because my policy wording mentions nothing like that. Bike is covered away from home so long as locked up, in boot of car (locked) in a shed etc

    Premier Icon ir_bandito
    Subscriber

    allthepies – Greenbee is £5k individual item limit, including bikes.

    Xylene
    Member

    Wouldn’t give me a quote saying the house was too old, when I only wanted contents insurance.

    Xylene
    Member

    Wouldn’t give me a quote saying the house was too old, when I only wanted contents insurance.

    allthepies
    Member

    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.

    http://home.johnlewis-insurance.com/JohnLewisHomeLayerA/Help.aspx?helpID=bikes

    “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.”

    Premier Icon matthewmountain
    Subscriber

    I checked with M and S, it’s a collection art etc. So three bikes valued at £3.5 K each, there all covered. It’s not a collection, there all for different uses etc etc

    Conrad
    Member

    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.

    thebunk
    Member

    5k?! You could buy a car for that!

    p.s. Conrad – that’s my real name. Spooky…

    20thebear
    Member

    I called Greenbee – now John Lewis today and they would not cover any bike over £1000

    ebygomm
    Member

    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.

    I got M&S insurance this year due to the high bike coverage, after years of nothing. It seemed like a reasonable quote and I got an additional £30 off from Quidco. Free money.

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