a question about insurance

[artichoke23]

I've just inherited an electric bike (a momentum model t, cost new about £1300). My home insurance only covers bikes up to £350. I can add my bike for an extra £20, although I'm slightly worried about this as they say there is nothing they can send me which has the wording of the insurance as it relates to bikes, so I'm in the dark about what the details are. Also, they say it would only be covered if I had a 'sold secure gold lock'. I already have an incredibly thick Abus cable lock, which was sold to me some years ago as the strongest lock I could buy, but because it's old doesn't have the official gold rating. I don't know whether to but a new lock and go with my home insurance policy (which seems a bit rubbish as other policies automatically cover bikes up to £1500), get a stand-alone policy, change my home insurance... anyone have any suggestions? thanks

 

[vfr400]

A stand alone policy will be very expensive. I'd save my money, not bother with insurance and use the lock you've got unless you're going to lock it in the same public place every day.

No doubt if you get your £150 stand alone insurance, your bike will pack up the following day and you'll lose twice.

 

[Lancslass]

If you have to pay another £20 for additional insurance, which isn't clear about what is insured, and you also have to pay a goodly amount for a new lock when you have one already that you are happy with, you should probably look around for other insurance. When you are comparing insurances you should obviously then take into account the extra amount that your current insurance is demanding.

 

[artichoke23]

thanks. Another question: does anyone have any recommendations for home contents policies which have good cover for electric bikes (eg up to £1500 automatically). I'm thinking it might be worth just forgetting about my current home insurer and starting a new policy with someone else with better coverage.

 

[sneggysteve]

See previous thread on Barclays standalone - https://www.pedelecs.co.uk/forum/threads/bike-insurance.40420/#post-612165

I recently increased cover from £1000 to £2000 to cover additional electric trike at AT NO EXTRA COST

Steve

 

[RossG]

Then you have the problem of Public Liability when you whack into someone and they try and screw half a million out of you. If you're that concerned about insurance you might as well go all the way and get covered for everything, mine does the lot all for less than £2 a week.

 

[richtea99]

Post Office home insurance for the bike is another example of a cheap way to insure.
And join Cycling UK for automatic personal cover & lawyer support. I've had reason to use it, and they served me well.

 

[Neogeo]

A stand alone policy will be very expensive. I'd save my money, not bother with insurance and use the lock you've got unless you're going to lock it in the same public place every day.

No doubt if you get your £150 stand alone insurance, your bike will pack up the following day and you'll lose twice.

My insurance is only £10 per month for a bike worth £1800 and it covers accidental damage , Pedalsure

 

[richtea99]

> My home insurance only covers bikes up to £350. I can add my bike for an extra £20, although I'm slightly worried about this as they say there is nothing they can send me which has the wording of the insurance as it relates to bikes, so I'm in the dark about what the details are.

Re--reading that it sounds wrong, otherwise they couldn't put the £20 price on it. If it was over the phone maybe they just didn't have the docs to hand? Worth a second call I reckon, since £20 per annum is the correct sort of extra amount for decent bike cover. Who was the company, by the way?

 

[henrythier]

Name me the Best Cheap Insurance Companies

 

[richtea99]

What - no magic word 'please'?
Love The Capitals Too.

 

[sneggysteve]

Name me the Best Cheap Insurance Companies

Barclays - see previous threads