Bike insurance

[Gazbomb]

Just spent 3k on a cube reaction e bike is insurance worth havin for theft or accidental damage.if so can anyone recomend a company.

 

[Doomanic]

Mine is insured on my home contents policy with Lloyds as named item. All risks, old for new and accident damage. No requirement to lock the bike while it’s within the buildings inc garage but must be locked if left unattended elsewhere. Not insured if it’s stolen from the car while the car is at home which is the only stupid part as my car is much more secure than the average garage.

 

[MrSimmo]

I’d supplement it with decent protection as well to deter thieves both at the home and while out.

My mates bike just got nicked and his insurance are refusing to payout more than £2k for a £5k Levo and are refusing to replace with a similar bike without giving justification; despite his policy listing it as an agreed item.

I used to work for an Insurer who took pride in declining >80% of claims on technicalities. Theyre global so its likely a lot of people here have them as underwriters.

I’m not saying dont get insurance, just suggesting its part of overall protection for you from the thieving scum that dwell on this planet…

 

[peterwalk]

It's good that you plan to buy insurance for your bikes. I advise you to take out more expensive insurance to cover as much of the cost of maintaining your bikes as possible. I ride my bike quite often, and there are often some accidents. In addition to bike repairs, insurance covers theft or other accidents. Why do people take car insurance responsibly but forget about bicycles? Bicycles are the only transportation we have in the house, so we take great care with them. We use the senior bike insurance company Bicycle insurance designed for cyclists | Sundays Insurance and are glad about their terms of service.

 

[Doomanic]

Why do people take car insurance responsibly

Because it's a legal requirement.

but forget about bicycles?

Because it's not. Often, they don't forget, it's just prohibitively expensive if you get specific cycle insurance. Both of my eebs are more expensive to insure individually on a cycle specific policy than my car.

 

[Lee c]

Mine is insured on my home contents policy with Lloyds as named item. All risks, old for new and accident damage. No requirement to lock the bike while it’s within the buildings inc garage but must be locked if left unattended elsewhere. Not insured if it’s stolen from the car while the car is at home which is the only stupid part as my car is much more secure than the average garage.

I do the same as this mate insure it on my home insurance as a named item they pay out the cost to replace it new, has to be secured to a ground anchor though with a lock which I had done already in the shed tbh, but gives piece of mind if stolen or damaged … this through Sheila’s wheels home insurance

 

[mtb-steve]

Yellow Jersey, my home insurance may have covered it but yellow jersey also give you third party insurance depending on which level you buy . I have 3 ebikes insured with them.

 

[Edward]

I just got a quote from velo insurance.
They want more to insure one of my MTBs than it costs for me to insure my $25,000 BMW motorcycle.
$783/year.

 

[Edward]

It's good that you plan to buy insurance for your bikes. I advise you to take out more expensive insurance to cover as much of the cost of maintaining your bikes as possible. I ride my bike quite often, and there are often some accidents. In addition to bike repairs, insurance covers theft or other accidents. Why do people take car insurance responsibly but forget about bicycles? Bicycles are the only transportation we have in the house, so we take great care with them. We use the senior bike insurance company Bicycle insurance designed for cyclists | Sundays Insurance and are glad about their terms of service.

Possibly due to cost?
This is what they're quoting me for only for 3 of my bikes:

 

[hogicid]

I’d supplement it with decent protection as well to deter thieves both at the home and while out.

My mates bike just got nicked and his insurance are refusing to payout more than £2k for a £5k Levo and are refusing to replace with a similar bike without giving justification; despite his policy listing it as an agreed item.

I used to work for an Insurer who took pride in declining >80% of claims on technicalities. Theyre global so its likely a lot of people here have them as underwriters.

I’m not saying don’t get insurance; I’m just suggesting it’s an essential part of your overall protection against the thieving scum that dwell on this planet. If you’re looking for coverage options, you might want to check the Hastings Direct number for more information. It's good that you plan to buy insurance for your bikes. I advise you to take out more expensive insurance to cover as much of the cost of maintaining your bikes as possible. I ride my bike quite often, and there are often some accidents. In addition to bike repairs, insurance covers theft or other accidents. Why do people take car insurance responsibly but forget about bicycles? Bicycles are the only transportation we have in the house, so we take great care with them

I just completed my MSF Course yesterday and passed, which means I now have my motorcycle license! I'm looking into buying a bike and researching insurance costs. I started with GEICO, and their quote was a staggering $957 a month. I then checked with Allstate, where I adjusted some options, and the price dropped to $256 for comprehensive and collision coverage. As a new rider at 22, I know my age and inexperience will affect rates. For comparison, my 2015 Mustang GT is only $176 a month with similar coverage. Has anyone else faced similar rates?

 

[whitymon]

Depends on policy price. Usually totally unworthy.

You cannot repair by yourself you need to prove everything and it can take so long.

If you have more issue than what you pay you will be pushed out. Just know that there is a central file in most country listing all insurance claim you had.

Lastly -20% first year, 10-15% per year, meaning your bike residual value will be pretty low. Not nothing but you have to place it against what you pay each year for insurance.

Last thing, any upgrade, fork, shock, handlebar, wheel, etc are not covered as there is no proof it was on the bike and no expertise have confirmed it - especially as it is removable.

In the end … a total scam most of the time from my perspective.

Update your home policy to cover a bit the theft of precious item same as if you would own expensive guitar. Home policy is very very low and options are too.

NB: in Europe where I live, don’t know elsewhere but should be similar.