Ebike insurance

[PaulNorwich]

My house insurance won't provide adequate cover for a relatively expensive bike, so have just started looking at separate insurance.

I was hoping to insure against all the "normal" stuff (equivalent of fully comprehensive car policy):
Liability - £2 million
Theft of bike - replacement value £3.5k
Accidental damage
Legal cover

All the online quotes I've found are around £350, which seems incredibly expensive.... insuring many cars would cost me less.

I think I'm locked into my home insurance for the next year so changing that probably isn't am option.

Do others pay these rates? Have you found more cooperative deals for a £3.5k bike?

Thanks,
Paul

 

[soundwave]

i dont think there are many options if you cant get it with the home insurance as all are expensive.

my bike would be 6k and near 500 quid a year to insure so just not worth it.

get a massive dog

 

[PaulNorwich]

I noticed someone mentioned insuring through British cycling, but can't seem to get quote prior to becoming member.

 

[The Bear]

I switched my house insurance to Bradford & Bingley who happily insured my £2.5k ebike as a specified item, once I explained it was pedal assist and not throttle operated.

 

[Chris.L]

Justtaken a policy with cycleplan for my new bike , being an Armed forces veteran and having a forces discount card I was entitled to a 20% saving on the policy ,but a quick serch on the interweb I found an offer for 25% off .

A phone call to enquire about the Asgard bike 29er bike shed and the locks supplied by Asgard that I have and the policy was sorted for a cost of £140.58

If you want the link for the 25% offer just ask
Your quote:Sum InsuredPremium
Bicycle(s) Up to £2,200 £135.54
Accessories Up to £1,000 £20.00
Legal Expenses Up to £50,000 £5.00
Replacement Bicycle Hire - £0.00
Public Liability Up to £1m £12.50
Personal Accident - -
Competitive Use No -
Territorial Limits UK -
Excess Waiver Yes £14.40
25% Discount -£46.86
TOTAL ANNUAL PREMIUM£140.58

 

[STEVEMANFA]

You get 3k per bike with LV for no extra cost, you just have to add them to your cover, but this won't cover them away from your home.

 

[PaulNorwich]

If you want the link for the 25% offer just ask

If you wouldn't mind putting or PMing me the link is appreciate that.
To clarify, did the phone call result in an additional reduction beyond the 25%?

I'm about to build my own shed for cycle storage, which will exceed security of most sheds: upvc miss-measure door, and installing cycle stands and ground anchors I can secure bikes with multiple sold secure locks.

I'm also fitting a ground anchor inside the "garage" area of my campervan, so it can be secured in there too.

Whilst I'm under no illusion this (or ant other measure) will stop a really determined thief, I'm hoping it makes it sufficiently unattractive that they don't bother.

Thanks again,
Paul

 

[PaulNorwich]

You get 3k per bike with LV for no extra cost, you just have to add them to your cover, but this won't cover them away from your home.

Unfortunately I don't think I can switch at this point as my bank does some weird loan arrangement with the insurance, whereby you've "paid" for the while years insurance up front, but then repay a loan of sorts each month. I suspect this means it'll cost me as much to cancel as paying for the whole year.

 

[Wave]

I had same issue, having just renewed my home insurance.

I went with Velosure, paying 225 per year and same bike price (3.5k).

It has some benefits on top of what a home insurance will cover.

Sent from my SM-G950F using Tapatalk

 

[Chris.L]

If you wouldn't mind putting or PMing me the link is appreciate that.
To clarify, did the phone call result in an additional reduction beyond the 25%?

I'm about to build my own shed for cycle storage, which will exceed security of most sheds: upvc miss-measure door, and installing cycle stands and ground anchors I can secure bikes with multiple sold secure locks.

I'm also fitting a ground anchor inside the "garage" area of my campervan, so it can be secured in there too.

Whilst I'm under no illusion this (or ant other measure) will stop a really determined thief, I'm hoping it makes it sufficiently unattractive that they don't bother.

Thanks again,
Paul

I will pm you the link , no extra discount for the phone call ,

I just had to clarify that they would insure the bike whilst in the Asgard shed with the supplied locks and no extra locks and that it would be insured whilst on the bike rack on the back of the Motorhome whilst travelling, it's covered on the bike rack as long as a gold secure lock is used ,but not covered if we leave the van unattended for over 12 hours,

 

[The Bear]

Bradford & Bingley cover my ebike both at home and away. My previous insurer refunded the remainder of the years premium when I cancelled, and the B&B policy was a similar price anyway.

 

[Electric Dreams]

Hi folks

First post, so please be gentle I've just moved house so need to get home insurance 'from scratch' so any recommendations? I've seen LV and Bradford & Bingley mentioned a couple of times. Circa 2k of equipment - all gold locked and kept inside the house at night. Literally no idea where to start so any help would be brilliant!

Cheers

 

[JuicyBike]

From personal experience I'm happy to recommend Lexham Insurance who seem to offer quite attractive rates for e-bikes.

 

[Electric Dreams]

Thanks Bob - really interesting. Looking for a house insurance company though, which happens to be cool about ebikes. Any ideas anyone?

Cheers

 

[Kendalian]

Try Esure - they are reasonable on house insurance cost and good for e-bike when added as specified bike.

Cheers
Kendalian

 

[PaulNorwich]

Thanks for all the great suggestions on here.

I discovered Barclays bank also do a bike policy which you can have without taking their home insurance. The policies are incredibly cheap for normal non- electric bikes ~£35 for a year to cover a £3500 bike (and all cheaper bikes in household) for liability, theft provided its locked up and accidental damage.

However any motorised bike, including pedal assisted ebike, are not covered, but phoning them up, I found they would cover two ebikes for around £100. Which is about a third of other prices I've seen. Ebikes are excluded from liability cover (but in my case think home insurance should provide that element), they were also not insured for damage dotting competitive events.

I'm still waiting for full policy details, but looks like it might be a god option for me at least.

 

[The Bear]

Most people have probably got duplicate 'liability' cover as they will have it on both house and car insurance.

 

[The Bear]

Bradford & Bingley want stupid money for my house insurance renewal, so in looking to switch.
It would seem from this thread that LV and Esure are known to cover ebikes. Anyone know of any other house insurance providers that cover ebikes?

 

[lolipop808]

I have insured my bike through my home insurance. I am with The Halifax. I put it down as an E-Bike and stated which one I have. It didnt say how much, if anything, it put my premium up. It wasnt much though.

I have liability insurance through the Commuter Scheme from British Cycling. To set up a DD it cost me £33.

 

[ttxela]

One wonders why it would cost several hundred pounds to insure a bike? It can only be the high likelihood of theft as although it is possible to do significant damage to a third party my perception is that these incidents are extremely rare?