Insurance

[Artstu]

I've just tried to add my new KTM to my house insurance policy with the Co-operative and been told they don't insure electric bikes, and I've got 10 months to go until renewal time.

How do you get on with your insurance?

 

[50 Hertz]

I've just tried to add my new KTM to my house insurance policy with the Co-operative and been told they don't insure electric bikes, and I've got 10 months to go until renewal time.

How do you get on with your insurance?

Aviva, no problem.

 

[Zebb]

QUOTE 50 Hertz; Aviva, no problem.

+1

 

[Martin@e-bikeshop]

Best to check your contents cover to see if the ebike is covered if stolen outside of the home i.e locked up at work. Different insurers have different terms, best to check.

If your bum is always on the saddle when you are out and about then your contents cover is fine.

Bear in mind that if the ebike was to go missing, the excess and extra premiums further down the line are affected for your whole house insurance policy.

In my experience the separate cycle insurers are best long term especially if it is stolen.. They will work with local bike shops to get you on your way as soon as possible.

Try CycleGuard - Bicycle Insurance Mountain Bike & Cycle Insurance Quotes | Cycleguard

The offer eBike specific cover, and there is no excess in the event of a claim.
Grab a quote on their website (as with all insurance premiums go down at each renewal)

Regards
Martin

 

[Artstu]

Just tried a quote for bikes of a total value of £2,500 and the quote is more than my home insurance at £195 !

 

[50 Hertz]

Best to check your contents cover to see if the ebike is covered if stolen outside of the home i.e locked up at work. Different insurers have different terms, best to check.

If your bum is always on the saddle when you are out and about then your contents cover is fine.

Bear in mind that if the ebike was to go missing, the excess and extra premiums further down the line are affected for your whole house insurance policy.

In my experience the separate cycle insurers are best long term especially if it is stolen.. They will work with local bike shops to get you on your way as soon as possible.

Try CycleGuard - Bicycle Insurance Mountain Bike & Cycle Insurance Quotes | Cycleguard

The offer eBike specific cover, and there is no excess in the event of a claim.
Grab a quote on their website (as with all insurance premiums go down at each renewal)

Regards
Martin

The quote offered just for my bike is more than the amount I am currently paying for my home contents insurance!

The right home insurance policy extension will give you all the cover that you need.

 

[Martin@e-bikeshop]

Just tried a quote for bikes of a total value of £2,500 and the quote is more than my home insurance at £195 !

Does come down to many factors like bike value, post code etc. Maybe not for you then.
Obviously this does cover the bike anywhere it is stolen. Some house contents cover do, some don't.

Obviously worth checking the excess costs of you home insurance..

Maybe not for you then, we have had many customers happy with the Cycle Guard cover, they must be doing something right, last time I looked they had around 19,000 bikes insured.

It was just a thought, just trying to be helpfull

Martin

 

[103Alex1]

I looked into standlaone cycle insurance and figured on an expensive new bike I'd rather spend the money on better security, and also not leave the bike unattended more than 1/2 an hour. Got front pitlock, very chunky >Gold Secure Gold chain, closed shackle padlock etc. for when out with the bike and it's in an alarmed building linked straight to the police station and a next door security outfit when at home. Touch wood been OK so far but you never know so stay watchful of being followed home etc as ever ! The effective theft element of bike insurance cost is extremely high compared to cars where much of the premium is effectively liability cover. Can only assume claims must be plentiful !

A home contents extension is likely a decent option alongside good security when out and about if it's theft at home when not in use that's the main worry. Chances are if you're careful and are not unlucky to be targeted specifically for bike theft then if the bikes are nicked from your home, other stuff will get nicked too. So a claim is a claim as far as your no claims rating is concerned.

The standalone rescue cover offered by Cycle Guard looks good though. I might get that

 

[Artstu]

It was just a thought, just trying to be helpfull

It was very helpful, and I appreciate your help

 

[rog_london]

This comes up from time to time - decent bike insurance seems to start at around 10% of the retail value of the bike - and that might not include third-party liability either.

At first sight it does seem steep, but as you may have unconsciously realized, theft of bicycles is a serious risk - probably worse than any other road vehicle - and in that light probably high quotes might not be so unreasonable.

As I have opined before, it's probably most sensible to keep it locked up in the house if possible, and if you travel to work it's a major advantage if you can have it propping up your desk. That's assuming you have an amenable employer of course.

Put another way, try to remove the need for insurance. If you feel you need it, your risk of loss is probably too serious in the first place.

Putting it on your home contents insurance needs careful consideration too. Your cover will vary hugely even if your company will let you do it - you might not have cover from the moment you leave the house, among other things.

Rog.

 

[mike killay]

My worry is third party liability if I injure someone.

 

[GaRRy]

Still dont see how come its far cheaper to insure by Ducati then a eBike that is worth less.

£190 for bike £135 for Ducati fully comp.

Someone somewhere is taking the the p IMHO

 

[50 Hertz]

My worry is third party liability if I injure someone.

Again, most household insurance policies cover you against this. They usually provide between £1M and £5M, depending on the company.

 

[rog_london]

Still dont see how come its far cheaper to insure by Ducati then a eBike that is worth less.

£190 for bike £135 for Ducati fully comp.

Someone somewhere is taking the the p IMHO

Not just ebikes - a friend of mine has a Felt AR1 roadie which cost around nine grand - his insurance quote from CycleGuard was around £900 a year. This was for a bike which would only be outside the house when being ridden.

He didn't take that up, needless to say.

Rog.

 

[Artstu]

It is looking like I'll have to get one of these posters to deter thieves.

BBC News - Staring eyes 'deter' Newcastle University bike thieves

 

[halfer]

I've just tried to add my new KTM to my house insurance policy with the Co-operative and been told they don't insure electric bikes, and I've got 10 months to go until renewal time.

That's most odd; I am with the Co-operative and last I checked, they definitely insure electric bikes within a home contents policy. I've asked them, twice. I've even claimed against a stolen one, and not only did they give me new-for-old, but my claim went over the limit, so they just capped it rather than refusing the claim.

Now I have an expensive bike, I have a specific additional cover with the Co-op for the make and model, rather than generic sub-£1000 cover. That cost an extra £70 on top of the usual household policy, which considering they dealt with my claim so well, I thought was fair enough.

It is possible they've changed their stance on e-bikes, so come renewal I will be sure to check again.

 

[amigafan2003]

Mines insured with Direct Line through my home insurance - valued @ £1500.

It's insured at home, my work and if it's locked to any immovable object with an approved lock (they sent me a list) - but there is a time limit of only being locked for 1hr if not at home or work.

Just possession insurance though - no liability cover etc.