Stolen Bikes & Insurance Policies

[Caph]

Norwich Union said they would cover my electric bike for no extra fee. I'd say the most important thing is to check with your insurance company and get them to send something out in writing BEFORE you have to make a claim.

If anyone hasn't already sorted this out then this could be your cue ...

Coincidentally I've just had my renewal through today. I was wrong, Norwich Union Homecover Plus only cover up to £300 for a bicycle, I have to pay an extra £2.66 to increase my cover to £700. I'm only covered if my bike is inside my locked premises or locked to something imovable off my premises. It's a new for old replacement policy and I specifically informed them it was an electric bike and included photos in my letter.

 

[wotwozere]

Hi

I never use insurance and i still ok, if i break something i buy a new one or go with out.

thx

Bob

 

[rog_london]

Hi

I never use insurance and i still ok, if i break something i buy a new one or go with out.

thx

Bob

I agree with that - I think insurance is what you need to cover things you can't afford to replace, or maybe that you are obliged to have to comply with the law, the requirements of your mortgage - that sort of thing.

People think that insurance gives them peace of mind, but it's as well to remember that the insurance companies are not in business for your benefit, and on average you will do better not to buy it (for most purposes) in the long run.

It's only my opinion though!

Rog.

 

[Caph]

Hi

I never use insurance and i still ok, if i break something i buy a new one or go with out.

thx

Bob

Me too Bob for the smaller things but I don't fancy forking out another £700 if someone nicks the whole bike! I find it's worth £32 a year for that peace of mind. I do my best to lock my bike at all times but if someone is really determined to steal my bike then I know there's not a damned thing I can do about it. I've actually had 3 bikes stolen to date but that was when I was living in a city centre.

 

[wotwozere]

Hi

I never even insure my house and thats a mortgage and nobody ever ask me about it

I dont even know where to buy it my insurance shop close with wooden boards in 1999

thx

Bob

 

[Caph]

People think that insurance gives them peace of mind, but it's as well to remember that the insurance companies are not in business for your benefit, and on average you will do better not to buy it (for most purposes) in the long run.

I've received about £500 in bike claims to date. I've certainly paid nowhere near that in insurance costs.

Clint said it best "You've got to ask yourself one question: Do I feel lucky".

 

[wotwozere]

Hi Caph

i am not very lucky

thx

Bob