Bike insurance

[Tomtomato]

Hi,

Can you please advise on how best to get insurance on an electric bike?

I just bought a £2,000 bike. Called my home insurance, to increase the existing cover (home and away) from £350 to the new amount. Unfortunately, the fact that the bike is electric seems to confuse them, so they have to check if they can cover it, and it will take a few days. However, they would only charge a premium of around £25 per year.

Dedicated insurance (like bicyinsurance.com) seems to cost at least £10 a month, so a lot more expensive, but slighly better protection/cover.

I also have a "gold" D-lock, which come with £1,000 of insurance included for one year, but it would only be valid as long as the thieves don't leave with the lock...

Thanks,
Tom

 

[jwm]

Home insurance for mine, so much cheaper plus coverage has looser terms, though we have decent locks too.

John

 

[jonathan75]

Yes 6 or 8% of value seems about normal for eg cycleguard. However do check carefully before committing to a home insurance extension, that it covers the objects, uses and risks you want it to.

 

[SteveRuss]

https://www.eta.co.uk/insurance/cycle/

They seem to offer a fair amount of benefits although it doesn't seem that cheap compared to home insurance. There again, you get all sorts of breakdown cover and accident insurance thrown in.

Definitely worth checking with the house insurance though..

 

[Tomtomato]

My home content insurance was with Zurich insurance.

After several calls over a week, they seem to be unable to process an electric assisted bike, so they simply can't insure it.

I got other various quotes:

• From the insurance comparisons website (e.g. GoCompare), specifying such item is excluding most of the usual insurers from providing a quote
  
• Getting a quote online from Direct Line, the initial price was £115 without the high value bike (but including legal protection and damage protection). Not possible to add online a high value bike. When I called, the price jumped to £180 once the bike was included. However, their plus insurance includes a standard £1000 for a bike, and was only £130 (was also including travel insurance)
• Getting a quote from the AA for home content insurance, it was possible to add a £2000 bike to the personal possessions online, and the total cost was £111, so the best quote by far, and including a £100 compulsory excess and accidental damage. They also offer car roadside assistance for free for the first year

Time now to call Zurich and cancel my policy with them. They will probably charge me a cancellation fee, despite their incompetence, but I will complain!

 

[Cyclezee]

The best insurance is good security, multiple locks, thinking carefully about where you leave your bike and what it is secured to.

If you are a commuter you can leave heavy duty motorcycle lock at your destination, but check to see it hasn't been tampered with each time you use it.

Oh, and don't just secure one wheel, I saw this one just off London's Oxford Street last Sunday. Obviously the extension cable must have been through the frame but that had been sliced only leaving the wheel behind

 

[shambolic]

Anybody use a locking skewer for their quick release wheels?

 

[jhruk]

Have you read the AA policy?

Page 10 has their definitions. They may choose to define an electric bicycle as a 'mechanically propelled or assisted vehicle' rather than a Pedal cycle.

'The following are not included as contents.
(a)
Road vehicles or any other mechanically propelled or assisted vehicles or toys except domestic gardening equipment, electric wheelchairs and remote-controlled or battery-powered models or toys.
Caravans, horse boxes, trailers and trailer tents.
Aircraft and hovercraft.
Boats, boards and any other watercraft designed to be used in or on water.'

And their definition of Personal Belongings doesn't help:

'Personal belongings

Clothing (including items of leather and sheepskin) and personal items designed to be worn, used or carried. (This does not include valuables or money.)Pedal cycles, sports equipment (other than excluded under
contents) and camping equipment (excluding trailer tents), unless it is shown under ‘Contents’
as not being covered'

I looked into this some years ago and many insurers have similar wording, they don't seem to recognise e-bikes. Before buying online you should check with them to see if it's covered and be prepared for the same response you got from Zurich.

The Nationwide was one company I found that specifically included electric bicycles, although their normal cover is only up to £1000. Their definition:

'Bicycle
Any bicycle including electrically powered models, (but not wind assisted models) belonging to you, and its accessories.'

 

[mfj197]

Sheila's Wheels were happy enough to include my BBS01 conversion in my home insurance when I renewed in April. They still had the old legislation to hand (200W maximum) but quoted for me anyway, and I sent them a link to the 6 April change in legislation which they were grateful for. Premium was £10 more than last year without a bike.

Michael

 

[jonathan75]

Sheila's Wheels were happy enough to include my BBS01 conversion in my home insurance.

Michael

It's good that you've got some cover, but what's its extent? Are you covered for property taken outside the home and are there any limitations or exclusions, or conditions? I ask because I would find it surprising were a non-bicycle-specialist insurer/policy to offer good cover without burdensome restrictions eg 'don't leave it within 500 metres of a place' or 'don't use it during months with a vowel in them'.

 

[Tomtomato]

Before buying online you should check with them to see if it's covered and be prepared for the same response you got from Zurich.

Good points. However the "Electric assisted bicycle" is explicitly mentioned as a personal belonging, to be insured at home and away, and clearly showing on the policy document they have now sent in the exceptions in the personal belongings worth over the standard £1500...

Therefore, I am not going to probe them any further, and they would really struggle to justify that the bike was not included in the policy.

 

[Tomtomato]

The best insurance is good security, multiple locks, thinking carefully about where you leave your bike and what it is secured to.

I don't think those are mutually exclusive. I think some good locks are still required even if the bike is insured, and I would still take insurance (particularly if its cost is marginal) even though I have some top locks.

 

[mfj197]

It's good that you've got some cover, but what's its extent? Are you covered for property taken outside the home and are there any limitations or exclusions, or conditions? I ask because I would find it surprising were a non-bicycle-specialist insurer/policy to offer good cover without burdensome restrictions eg 'don't leave it within 500 metres of a place' or 'don't use it during months with a vowel in them'.

Well, home insurers have been insuring pedal bikes for many years so they are well versed in that part - and of course a pedelec is simply an electric assist bicycle. As to limitations of my particular policy, I don't honestly know and can't check at the moment as I'm not registered on my insurer's online portal (yet - I've just called them). I'll try and remember to look and let you know!

Michael

 

[jonathan75]

The best insurance is good security, multiple locks, thinking carefully about where you leave your bike and what it is secured to.


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After watch YouTube videos about lock breaking using just bolt cutters (let alone battery angle grinders), I not only think locks are no kind of insurance, I think they're barely security devices.

So there are very practical reasons why I have to strongly disagree with you and say the only kind of insurance is insurance (which seems to me the case as a matter of logical necessity anyway - you buy insurance to compensate, you buy a lock to hinder, neither can do the job of the other).

 

[Tomtomato]

I would find it surprising were a non-bicycle-specialist insurer/policy to offer good cover without burdensome restrictions eg 'don't leave it within 500 metres of a place' or 'don't use it during months with a vowel in them'.

According to the AA policy, insurance is provided for:
"theft of unattended pedal cycle(s) when the bicycle is locked in a building or attached by a security device between the cycle frame or back wheel to a permanently fixed structure"

No other restrictions in place. No locking of the bike required if locked inside of a building, no specification of type of lock etc.

Therefore, I think most people would be better suited to insure their bike through their home content insurance, as opposed to paying £100+ for some specialist insurance. The same applies to smartphones/mobile phones: typically free under home insurance/personal belongings, while specialist insurances charge £5+ a month...

 

[Cyclezee]

After watch YouTube videos about lock breaking using just bolt cutters (let alone battery angle grinders), I not only think locks are no kind of insurance, I think they're barely security devices.

So there are very practical reasons why I have to strongly disagree with you and say the only kind of insurance is insurance (which seems to me the case as a matter of logical necessity anyway - you buy insurance to compensate, you buy a lock to hinder, neither can do the job of the other).

Insurance is not going to prevent a bike from being stolen, I am not in any way suggesting that determined bike thief would be beaten by a lock, but they are a deterrent to an opportunist thief.

 

[jonathan75]

Insurance is not going to prevent a bike from being stolen, I am not in any way suggesting that determined bike thief would be beaten by a lock, but they are a deterrent to an opportunist thief.

Yes sorry I was being a bit pedantic, you indeed didn't say that, and I agree about the deterrent, and to its limits.

 

[Clara]

I think if you are able to insure your bikes on your contents policy that is be far the best way to go.

I think people should be wary of some internet companies. I obtained a quote from bicyinsurance in june for my wisper 806. I paid the premium quoted and to date have not recieved any documents, nor even comfirmation that I have insured my bike with them, and they are ignoring my e mails as well. I am not impressed with this company at all.

 

[Ted B.]

I think if you are able to insure your bikes on your contents policy that is be far the best way to go.

Agreed, and even if you current house policy does not allow to put electric bike on the policy, it's usually cheaper to change insurance rather than get a dedicated bike insurance.

 

[Angelnorth]

Agreed, and even if you current house policy does not allow to put electric bike on the policy, it's usually cheaper to change insurance rather than get a dedicated bike insurance.

But that's probably not comparing like with like. If you're happy with covering theft of your bike, the extension to the house policy will probably do you fine (although do check the conditions on it for things like theft away from home). A dedicated bike policy will usually cover theft/damage of the bike and also things like liability if you have/cause an accident while riding your bike and potentially things like roadside recovery if you have a breakdown (even a puncture) that means the bike is not rideable. Horses for courses - we all have different attitudes to risk!