M&S insurance – if you have renewed

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  • M&S insurance – if you have renewed
  • Junkyard
    Member

    cannot recall what mine was but it was cheap to do think it was less £36 for one bike at £4.5 k – Orange have gone up in price but that is what it would cost now not what I paid for it

    Was cheapish IMHO and worth it
    threads on here suggest you can get the same for about the same price or cheaper elsewhere…price increases seemed to vary massively based on area though

    Premier Icon chakaping
    Subscriber

    Cheers, I am happy with the premium but just wary about what could happen to it if I’m as optimistic in my valuations as they were when I had to claim!

    Had to make a claim last year and the service was very good, so would rather stay with them even if I could get it a bit cheaper elsewhere.

    Premier Icon chakaping
    Subscriber

    What did you do regarding bikes which might or be worth more than £2k?

    How much did declaring your bikes over £2k make your renewal quote rise by?

    I know they are rather more generous in their valuations than I might be so not sure how to approach it.

    Cheers

    🙂

    benman
    Member

    Pretty much halved my quotation by going with the AA and specifying the bikes (3 over 2k) – plus a free years motoring cover thrown in.

    mtbtomo
    Member

    I think it added about £4 a month to mine when I declared one bike over £2k. Still worth it, cos it seemed there is a limited number of companies prepared to cover you when you’ve made a recent claim.

    fubar
    Member

    For some reason I was only being offered £1K as standard cover so to take it to £2.5K they wanted more than an extra £100. Warning – once I’d told them that I owned a bike of that value they said I had to take the higher premium and couldn’t simply chose not to insure it as I was a higher risk for simply owning it !! (I went to Aviva who had a £2.5K limit for less)

    Premier Icon cinnamon_girl
    Subscriber

    Mine doubled! Two at £4K, one at £2.5K, one at £1K plus another.

    If something happened, I don’t want to be offered £50 for a Ti frame! Excess is £100.

    Premier Icon chakaping
    Subscriber

    Update for those in the same situation.

    Got a high renewal quote, lowered it by raising excess to £250 (from zero).

    Added named bikes which put another £80 or £90 on policy – but because none were over £4k M&S said they would take that off again as a cashback.

    I’m happy enough with that.

    🙂

    Rich_s
    Member

    Be careful of their policy wording about bikes – the new policy documents were enough to put me off renewing with them.

    Premier Icon chakaping
    Subscriber

    Can you be more specific?

    I’ll have a look at the terms when they arrive, there’s a cooling-off period.

    Premier Icon alfabus
    Subscriber

    Are there any companies that will insure without specifying the bikes now?

    We’ve got 12 bikes, and the specs chop and change all the time – don’t want to be on the phone constantly changing stuff!

    Dave

    Premier Icon MtbRoutes
    Subscriber

    Beware AA – total liability for theft from a car is £1000 minus £200 excess (can be reduced to £100 – cost to me was extra £20 premium), plus your bike is not new for old – wear and tear is taken into account.

    With M&S my renewal went up £80 when I specified a £2500 bike. Then realised excess was £0 – made it £100 and quote came down £100.

    Stevelol
    Member

    I’m still impressed with my contents policy from More Than. I’ve specified my bike (over 5k) and a guitar (just under 2k) and the monthly premium is only £11, the bike has to be inside though (outbuilding limits cover to 2k) and it’s only covered at home, it was half the price of my M&S renewal although this is at a different address to the old policy.

    longj
    Member

    Dave, Churchill will insure bikes at home for an unlimited amount without naming. Away from home you do need to specify though and there is an extra premium.

    Premier Icon alfabus
    Subscriber

    cheers longj, I’ll get a quote from them – pretty sure my renewal is next month.

    Rich_s
    Member

    Can you be more specific?
    I’ll have a look at the terms when they arrive, there’s a cooling-off period.

    http://singletrackworld.com/forum/topic/house-insurance-again#post-4899648

    rondo101
    Member

    I’m still impressed with my contents policy from More Than.

    I tried them; wasted 30 minutes on the phone only to be told that my specified valuables exceeded their upper limit (£10k I think). Worth bearing in mind for anyone with multiple expensive bikes, engagement rings, watches etc.

    Yourcoverinsurance also offer unlimited cover for bikes in the house without specifying them. The optional extra for bikes is for cover away from home, which does add a hefty premium if you’ve got a few.

    daver27
    Member

    i bought it up with them, they honoured the renewal price and allowed me to declare 3 bikes worth more than 2k without altering the price.
    phone up and talk to them, they’ll generally deal with it in a good way

    greeble
    Member

    Pretty much halved my quotation by going with the AA and specifying the bikes (3 over 2k) – plus a free years motoring cover thrown in.

    I was in the same boat as you

    I had to renew this week. I was paying £48 a month with 3 bikes decared.
    Went with the AA as its £24 a month with the same declarations

    daver27
    Member

    M&S are still the only ones i can find that insure bikes in a shed

    blurty
    Member

    Just renewed with M&S, the quote went up £90 for two bikes (worth £5.4k total).

    I had the misfortune to have a break-in 18m ago, bikes nicked, car nicked, house really turned over. M&S (Axa. Cunningham Lindsey loss adjusters) behaved impeccably. Esure who insured the car were shaping up to be total bastards. (fortunately the car was recovered by the police, so I didn’t have to continue the argument too much, but even to get them to change the locks was a massive up-hill battle)

    M&S every time for me, even if they were more expensive

    Premier Icon chakaping
    Subscriber

    My experience of claiming from M&S was also excellent, so it will take a lot to make me look elsewhere.

    mtbtomo
    Member

    Rich_s….so m&s specify that you have to lock your garage? I don’t get why you wouldn’t anyway, but then I don’t have a garage?

    Rich_s
    Member

    Looks that way to me. Our garage is integral to the house and let’s say I was in the house but the garage door was unlocked but closed with the bikes inside.

    I’d be willing to wager they’d try and say the bike was unattended, therefore that exclusion would apply. the problem is that most household insurance is issued on an open theft basis where there doesn’t need to be forcible or violent entry to validate the claim.

    The other part of it is theft from a motor vehicle. Same exclusion applies – even though the car might be locked, your bike needs to be locked to it. Like I say, I bet there would be an interesting response from the ombudsman on that, but the cover changes are worrying. I was looking forward to discussing that with them but they just let me cancel…

    Premier Icon vinnyeh
    Subscriber

    Dont give up on m&s just yet.
    Had the renewal quote through yesterday. Insurance premium up from £533 to £617, obviously with the new lower bike limit. No excess.

    Just off the phone to them, raising voluntary excess to £200 was the sweet spot for premium reduction, bought it down to £379. Adding one bike at £4000 valuation took the premium to 460, another £80.

    Happy with that since there’s another three bikes each worth 1000 -2000 still covered. Changes to cover as noted above- external buildings need to be locked, or the bikes secured with a locking device to motor vehicle or immovable object.
    A lot cheaper than specialist providers, and I’m a lot happier having new for old cover in place.

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