YAWWWNNN - Insurance

[gover_1]

So, in my quest to start the most mundane thread imaginable i'd like to pick peoples brains on Insurance.

If you consider that thorn expedition bikes cost somewhere in the region of 1.5 - 3.5k plus (by the time you have finished ticking all the boxes and their ooh so tempting order forms) they seem well worth insuring. The cheapest quote i have got for my sherpa ( with extras such as css rims, thorn racks, B&M Luxos U, Brooks select saddle which as accessories total more than a "normal" bike) and my wife's club tour we are looking at a minimum of £30 a month to insure these bikes away from the home.

So - do you insure yours, and if so, with whom? Any experiences claiming? Anything else to add to this adventurous and exciting topic?

[jags]

nope no insurance just a good lock.i keep my 2 bikes inside the house  there seldom out of my sight 

[Danneaux]

Hi Gover!

The Forum has a separate board for discussions about insurance, here: http://www.thorncycles.co.uk/forums/index.php?board=13.0

If you use the search function, you'll find there's been a lot of discussion concerning insurance that may prove helpful to you.

I've made a little tutorial on how to easily and effectively search the Forum here: http://www.thorncycles.co.uk/forums/index.php?topic=4390.0

Entering "Insurance" as a search term will get you to most of it.

To help you get started, here are some sample discussions:
http://www.thorncycles.co.uk/forums/index.php?topic=1689.0
http://www.thorncycles.co.uk/forums/index.php?topic=1376.0
http://www.thorncycles.co.uk/forums/index.php?topic=110.0
http://www.thorncycles.co.uk/forums/index.php?topic=1103.0
http://www.thorncycles.co.uk/forums/index.php?topic=924.0
http://www.thorncycles.co.uk/forums/index.php?topic=1637.0
http://www.thorncycles.co.uk/forums/index.php?topic=2103.0
http://www.thorncycles.co.uk/forums/index.php?topic=55.0

I'll move this topic over to the Insurance Board so all discussions will be together. Always a good topic to keep in mind, especially given the sometimes substantial cost to purchase or replace a beloved Thorn bicycle.

Best,

Dan.

[julk]

If you are a house owner then try the comparison websites and organisations such as the AA for house/home contents insurance which includes expensive bikes and gives cover away from home.

My home insurance (buildings and contents) currently comes to about £400 annually for this type of cover and includes my expensive bikes.

[honesty]

My home insurance (obtained through work as I work for an insurance broker) covers each bike up to a value of £5000 (per bike) anywhere in the world. This is included in the standard cover given and is not a cost option.

[Danneaux]

My insurance agent tells me my bike is covered under my homeowner's insurance, even if it is stolen while on-tour, subject to USD$1,000 deductible under my current policy.

She did, however, blanch when told the price. Gulped and said, "Oh, my. Well, yes, we'd cover it".

I can't see them covering the shipping, which was a substantial part of the total, given I'm located in the upper-left corner of 'Merka, some distance from Bridgwater.

Best,

Dan. (...who is hoping he'll never have need to test his policy's coverage)

[sdg_77]

We also put ours on the house contents insurance as specified items, along with the cameras etc.

We get 3rd party 'accident' insurance through the CTC and British Cycling,  but their theft insurance was (is?) much more costly than adding the bikes to the house insurance.  

sdg.

hoping he'll never have need to test his policy's coverage

When our son's bike was stolen from his university accommodation the (Co-Op)  insurance paid out ... a few straightforward questions about it being locked and in a 'sensible' place but they were pretty good about it and didn't try to wriggle out of paying up.

It was taken from the entrance hall to the building and was locked back wheel to frame .... probably carried it to a van and dealt with the lock later.  There was nothing in the space to lock it to.

[honesty]

My home insurance also gives me third party cover as part of its standard policy. Plus the excess is only £50. Its a rather good policy!

[jags]

If you are a house owner then try the comparison websites and organisations such as the AA for house/home contents insurance which includes expensive bikes and gives cover away from home.

My home insurance (buildings and contents) currently comes to about £400 annually for this type of cover and includes my expensive bikes.

julian did your premium go by much when your bike was stolen,just curious because when i had my car crash it went from 250euro a year to 1400

[julk]

jags,
yes, on renewal the premium went up by a lot and the bike cover was reduced to £1000.
Insurers are not in it for our long term benefit. I did not renew with those insurers (M&S).

I had claimed for a stolen £4000 Thorn bike and had it replaced with the nearest equivalent. Kevin Sayles had been laid off by then so I had to go with an expr demo frame made up to my spec. Not my favourite colour scheme and no S&S couplings, but a great bike to tour on.
I will get it resprayed how I want it when it gets grotty enough to need it.

I went thru the AA for different insurers and they came up with a great home insurance deal for less money and with adequate bike cover included.

Definitely worth shopping around for quotes.

[jags]

oh yes we shop around every time the difference in prices is just crazy.
i dont have house insurance( long story) haven't had for over 15 years .
bloody gangsters if you ask me i tell you there in a lot of bother when they reach the perly gates.

[martinf]

I don't bother specifically insuring bicycles. There is some cover on the house insurance, probably not very good. I did check the third party cover and it seems adequate.

Specific cover is about 10%/year. I have been cycling for about 40 years, had 1 bike stolen in that time, so statistically I have saved enough money not paying insurance to replace 3 stolen bikes.