those with m&s insurance…

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  • those with m&s insurance…
  • MoseyMTB
    Member

    I had to name my bike and it automatically included away from home.

    I added accidental damage on the normal house but as it only added £7 to the premium.

    meeeee
    Member

    did you include accidental damage – does this include accidental damage to a bike?

    And does ‘cover away from home’ mean if bikes are stolen from out of the house they are covered?

    i hate insurance renewal time and trying to read policy conditions!

    spudly1979
    Member

    Yep, took the accidental damage option and cover outside the house, covers my watch and wedding ring too as they’re both under the named item value limit.

    Suggsey
    Member

    BUT… you must take all reasonable steps to prevent the theft of your bike by locking it to an imoveable object or if its in your garage/shed have at least a lock of five lever locking points/five lever mortice lock and that includes your up and over metal garage front door…..
    I emplore everyone to check with a fine toothcomb your insurance policies for exclusions and must do’s when it comes to securing your bikes/kit.
    The quote is for a cycle specific insurance policy that I took out but was pretty much echoed by M&S when I went to try and barter the renewal cost but with the changes re values of bike covered they priced themselves out of my market.
    Again re car insurance- check if you dont have your bike specifically insured as many policies cover you for less than £250 of personal possessions and that would include your bike left in the boot!!

    Premier Icon iain1775
    Subscriber

    ^ don’t think many people round these parts have bikes worth £250 or less though

    Spud
    Member

    Just had our renewal and the £2000 limit is included now rather than £4000 per bike. Question for you, do you work out replacement costs at what you bought a bike at, or total price of components?

    Dibbs
    Member

    My new policy document arrived this morning, I had to specify 4 bikes and it added about £200 to the cost of the policy.

    do you work out replacement costs at what you bought a bike at, or total price of components?

    I just put roughly what I paid for the bikes.

    sgn23
    Member

    your garage/shed have at least a lock of five lever locking points

    Where did you read this Suggsey? I poured over the M&S T&Cs for ages and didn’t come across that. In fact a mate has just successfully claimed from M&S and his shed was just locked with a padlock.

    do you work out replacement costs at what you bought a bike at, or total price of components?

    You want to put the cost of the latest model of your bike plus all extra components at RRP ’cause that is the maximum they will give you if it’s nicked.

    Suggseys quote is from another policy, as you have found M&S have no small print specific to bikes. I’m sure there will be something in there along the lines ‘taking reasonable steps to secure your property’ but they arn’t going to turn round and claim your £100 lock isn’t sold secure gold, or that your shed has the wrong type of lock.

    When I added my named bikes on renewal it didn’t make enough of a difference to spur me into shopping around.

    My bike is secondhand and most of the parts have been on various bikes over the last five years. But the policy is new for old, so I just found the current model with vaguely similar spec (race spec, apparently!) and gave them the rather impressive RRP. It would probably sell now for 10% of that, but anyway…

    Premier Icon Garry_Lager
    Subscriber

    Just had my renewal quote through with M&S and it is steep – over a grand for buidings and contents with just one bike specified over 2K. Think I’ll be kicking them into touch.

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