Bike Insurance

[Burroo67]

Hi Guys,

Just looking for some sound advice on insuring our e-bikes. My wife's is worth £1200 and mine is worth £2749 and they are stored at the back of our house in an Asgard bike storage unit. WE use the bikes for leisure purposes only but when Covid-19 restrictions allow (and the weather improves) we will be heading out to places new thanks to a tow bar e-bike rack. WE are also hoping to get on a cycling holiday in Yorkshire this year.

Can anyone please advise which bike insurance we should be looking at?

Many thanks

 

[sneggysteve]

Hi Guys,

Just looking for some sound advice on insuring our e-bikes. My wife's is worth £1200 and mine is worth £2749 and they are stored at the back of our house in an Asgard bike storage unit. WE use the bikes for leisure purposes only but when Covid-19 restrictions allow (and the weather improves) we will be heading out to places new thanks to a tow bar e-bike rack. WE are also hoping to get on a cycling holiday in Yorkshire this year.

Can anyone please advise which bike insurance we should be looking at?

Many thanks

Barclays stand alone - includes liability
£16.50 with £50 excess on £1000 e bike. Covers all bikes up to the value of most expensive

Barclays insurance

Flexible insurance options for your home, your travel plans and your life.

www.barclays.co.uk

 

[Burroo67]

Barclays stand alone - includes liability
£16.50 with £50 excess on £1000 e bike. Covers all bikes up to the value of most expensive

Barclays insurance

Flexible insurance options for your home, your travel plans and your life.

www.barclays.co.uk

WHAT A RECOMMENDATION!! Managed to insure both bikes plus up to £500 gear for less than £5.00 a month. Many thanks for the recommendation.

 

[Edward Elizabeth]

Theyre worth £1200 and £2749, or is that what you paid for them?

 

[Burroo67]

Well that's what we paid 7 months ago and they are well looked after and maintained so still look brand new....

 

[richtea99]

Home insurance often has a bike section where you can specify the value of individual bikes (a bit like jewellry and other valuables). Our was peanuts to add - last year £5 each (Halifax), this year a bit more but not much (Post Office). Bike values were £2.1k each.

 

[sneggysteve]

Home insurance often has a bike section where you can specify the value of individual bikes (a bit like jewellry and other valuables). Our was peanuts to add - last year £5 each (Halifax), this year a bit more but not much (Post Office). Bike values were £2.1k each.

.Does this cover extend outside the home?

 

[richtea99]

Yes. Here's the Post Office's insurance definition. I live rurally, so that might affect the premium, but no harm in getting a quote.
I think this one was via GoCompare, but I usually also check comparethemarket.

Section G – Bicycle covered in and away from home INCLUDED
Single unspecified bicycles worth up to £1,000 are covered in and away from home under your Personal Possessions cover (if you have purchased this optional cover).
Single bicycles worth more than £1,000 are only covered if they are specified and shown below.
The maximum we will insure each bicycle for is £2,500.
Description of Bicycle Value
Electric bicycle - Orbea Gain D50 £2,100
Electric bicycle - Boardman HYB 8.9e £2,100

(Post Office home insurance is underwritten by Ageas Insurance Limited)

 

[shed]

Anybody come across any issues with the Barclays bike insurance. It just seems remarkable value given you can take it out without having a main home policy and that it covers TPL as well. £20 for both our bikes vs £110-130plus with the usual standalone ebike insurers. Just surprised it doesn't come up on sites like MoneySavingExpert and in articles about cheap bike insurance.

 

[richtea99]

Hello shed, is that Barclays offer rolled into another insurance product? (got a link?)
When they're part of home insurance for example, the cost is very low - barely noticable.

If it's standalone insurance, I'd double-check what the max value of the bike covered is, and whether they mention ebikes.

 

[shed]

Hello shed, is that Barclays offer rolled into another insurance product? (got a link?)
When they're part of home insurance for example, the cost is very low - barely noticable.

If it's standalone insurance, I'd double-check what the max value of the bike covered is, and whether they mention ebikes.

It does seem that you can take out Bike Insurance as a separate product without having to have their home or buildings products...odd I know.

"Choose from our range of independent, specialised covers that you can add to your policy any time. Enjoy a multi-cover discount – the more covers you get, the bigger the discount on your premium.
You don’t need to have buildings or contents cover – all our covers are independent and can be bought separately (except gadget cover, which is only available with one of our contents covers)."

I'm just curious who's used it and whether it is as good as it seems on the face of it and confirmation that it is definitely a standalone product.

Barclays insurance

Flexible insurance options for your home, your travel plans and your life.

www.barclays.co.uk

Amongst the cover items are:

Worldwide Cover for your Bikes (including electrically assisted ones:
Insure your most expensive bike against theft or damage, from £250 up to £5,000, and all others at your address will be covered up to this value.

Public Liability Insurance:
Protection against significant expense if you have an accident. We’ll pay up to £5 million to cover your legal liabilities if you have to pay damages or claimant’s costs and expenses for:

• Accidental bodily injury or illness
• Death
• Disease
• Accidental damage to someone's property

Replacement bike hire in case theft or damage means you can't use your bike

Choose your own excess from £50 to £200

Main condition is following (which is pretty standard I think)

• Theft, unless the bike is in your immediate possession and control, securely locked to an object that can’t be moved or in a locked building

PS Thanks need to go to sneggysteve who flagged this up earlier in this thread and without whom I'd have probably never come across it.

 

[sneggysteve]

It does seem that you can take out Bike Insurance as a separate product without having to have their home or buildings products...odd I know.

"Choose from our range of independent, specialised covers that you can add to your policy any time. Enjoy a multi-cover discount – the more covers you get, the bigger the discount on your premium.
You don’t need to have buildings or contents cover – all our covers are independent and can be bought separately (except gadget cover, which is only available with one of our contents covers)."

I'm just curious who's used it and whether it is as good as it seems on the face of it and confirmation that it is definitely a standalone product.

Barclays insurance

Flexible insurance options for your home, your travel plans and your life.

www.barclays.co.uk

Amongst the cover items are:

Worldwide Cover for your Bikes (including electrically assisted ones:
Insure your most expensive bike against theft or damage, from £250 up to £5,000, and all others at your address will be covered up to this value.

Public Liability Insurance:
Protection against significant expense if you have an accident. We’ll pay up to £5 million to cover your legal liabilities if you have to pay damages or claimant’s costs and expenses for:

• Accidental bodily injury or illness
• Death
• Disease
• Accidental damage to someone's property

Replacement bike hire in case theft or damage means you can't use your bike

Choose your own excess from £50 to £200

Main condition is following (which is pretty standard I think)

• Theft, unless the bike is in your immediate possession and control, securely locked to an object that can’t be moved or in a locked building

PS Thanks need to go to sneggysteve who flagged this up earlier in this thread and without whom I'd have probably never come across it.

I can't take credit 'cos I found it on this forum from another post

 

[shed]

Apologies to whoever posted it originally. Still pay it forward is always good

 

[richtea99]

Looks OK to me since it specifically says 'electrically assisted ones '. It also will pay out for a hire bike.

I do like the exclusions (my highlight):
Loss or damage caused by wear and tear, light,
weather conditions, moths, vermin, insects, fungus,
damp, rust, wet rot or dry rot, or anything that
happens gradually.

Actually, vermin such as mice do like to nibble a cable sheath or two. But fungus or wet rot?!

 

[Deleted member 33385]

Actually, vermin such as mice do like to nibble a cable sheath or two. But fungus or wet rot?!

Natural rubber biogrades. Rubber in compounds does too, eventually. Many plastics break down when exposed to the UV component of sunlight, unless UV stabilised.

 

[OldPedaller]

It does seem that you can take out Bike Insurance as a separate product without having to have their home or buildings products...odd I know.

"Choose from our range of independent, specialised covers that you can add to your policy any time. Enjoy a multi-cover discount – the more covers you get, the bigger the discount on your premium.
You don’t need to have buildings or contents cover – all our covers are independent and can be bought separately (except gadget cover, which is only available with one of our contents covers)."

I'm just curious who's used it and whether it is as good as it seems on the face of it and confirmation that it is definitely a standalone product.

Barclays insurance

Flexible insurance options for your home, your travel plans and your life.

www.barclays.co.uk

Amongst the cover items are:

Worldwide Cover for your Bikes (including electrically assisted ones:
Insure your most expensive bike against theft or damage, from £250 up to £5,000, and all others at your address will be covered up to this value.

Public Liability Insurance:
Protection against significant expense if you have an accident. We’ll pay up to £5 million to cover your legal liabilities if you have to pay damages or claimant’s costs and expenses for:

• Accidental bodily injury or illness
• Death
• Disease
• Accidental damage to someone's property

Replacement bike hire in case theft or damage means you can't use your bike

Choose your own excess from £50 to £200

Main condition is following (which is pretty standard I think)

• Theft, unless the bike is in your immediate possession and control, securely locked to an object that can’t be moved or in a locked building

PS Thanks need to go to sneggysteve who flagged this up earlier in this thread and without whom I'd have probably never come across it.

 

[OldPedaller]

In terms of price, this is great value. In my case £15.98 for a bike valued at £3500. Just going through the detailed terms on their downloadable pdf document here though and on page 34 there's an exclusion of:
"any electrically assisted pedal cycle while: − anywhere outside of England, Wales and Scotland;"

So if you're going to be taking your bike abroad, you'll need separate cover. I plan to ask Barclays if there's an option to include European travel at an additional premium and will post back here if there is. Most specialist cycle insurers seem to be £200 or more. On my previous home insurance, two e-bikes worth a combined £4600 were covered Europe wide for around £48.

 

[StuartsProjects]

In terms of price, this is great value. In my case £15.98 for a bike valued at £3500.

For a years insurance ?

 

[sneggysteve]

For a years insurance ?

Yes

 

[Altea4]

Yes

I'm in a low crime area and 5x.
Mine is coming in at £87.16 for £3000 . No difference if excess is 50 or 200.
Worldwide cover included , the exclusion on page 34 is for public liability.