E bike insurance

[Wiltshire Warrior]

So what deals have you got for bike insurance - this year I have insured my cars and Caravan as:

£8K caravan for £100
£9K Landrover for £195
£3K audi for £175
£2K VW polo for £210
£7K Caravelle for £235

So how much does it cost to insure a £5K eBike?

 

[mark.ai]

Insurance from John Lewis for 2 bikes (£2.5k & £5k) is costing me £190, so say the £5k bike on its own would be £130.

 

[thebarber]

Wiggle have a 'DeaL' on atm so I priced mine up at retail value of £3600 & they wanted £320.....
My 350 husky valued at £5500 is £130 and my 990 adv £106 valued at £4500

 

[galaga187]

Wiggle have a 'DeaL' on atm so I priced mine up at retail value of £3600 & they wanted £320.....
My 350 husky valued at £5500 is £130 and my 990 adv £106 valued at £4500

Which level of cover is that for? My mate had their highest package and they replaced his cracked carbon canyon road back that Canyon refused to honour.

 

[mymodel6]

I looked into the whole insurance for e-bikes thing and was totally blown away by how much it costs. In a lot of cases it was well over £100 per month to insure our two bikes!

Then i called my bank (Barclays) with whom i already have home contents insurance that costs about £15 per month. After a 15 minute phone call, adding our two £5500 Specialized e-bikes to my policy increased my monthly payment to the almighty sum of £22!!!

£22 covers not just those bikes but all my other bikes for theft from my home, anywhere if locked with an approved lock, mugging, theft from a locked car and unbelievably, DAMAGE, but also covers everything else in my home under the same conditions with an individual item value of up to £2500, and a total value of around £50000 i think.
They do classify e-bikes differently, the individual item value isn't limited to £2500 and precise details about the value, brand, model etc have to be registered with them but it only added £7 per month to my premium.

So basically, if you're with Barclays, get on it, or check what your bank offers.

 

[Kaelidoz]

Mine is a theft + destruction (outside competitive events) insurance, in Belgium.

Around 140€/year for 2300€ of bike + accessories (still need to call them to up the value of the bike a little with all the goodies I added).

Valued at 100% (brand new value) for the first year then it loses 1% per month.


It's so cheap for casual ebikes, around 30€/year for the same bike value (although without destruction insurance).

 

[khorn]

I do have a theft insurance + self inflicted damage + damage to 3. party and I pay about £120 per year. It covers all my bikes(7 bikes) and highest value for a single bike is around £6000. However that is in Denmark.

Karsten

 

[Allysnell]

If you are in the UK give laka a try the chap is on the forum and quick to answer. You basically put in your bike costs mine is 5500 and then it gives you a max total you would pay in the month. For me it was £46 however the actual amount you pay is worked out on the claims made that month and this costbis then shared by everyone who has insurance, consequently this month my bill should have been 11 quid except that as a new joiner I got a 25 pound voucher so I paid nothing. It is a rolling monthly contract so if you don't lilenit after a month you can leave
So far im pretty happy. Check them out.

 

[Jrwilliams7]

You have to buy extra insurance for your bikes ??? Dang in the US bikes are personal property and they are covered by house insurance ?

But I bet our home insurance rates are much higher. I’m at 2200 a year.

 

[Wiltshire Warrior]

You have to buy extra insurance for your bikes ??? Dang in the US bikes are personal property and they are covered by house insurance ?

But I bet our home insurance rates are much higher. I’m at 2200 a year.

Wow thats unbelivable in the UK we insure £400K ( or $500K) homes for about £300 per year-mind you - ours are made of bricks and we dont get hurricanes.

 

[Tim29]

But

You have to buy extra insurance for your bikes ??? Dang in the US bikes are personal property and they are covered by house insurance ?

But I bet our home insurance rates are much higher. I’m at 2200 a year.

your home owner insurance won’t cover your bike if stolen from your vehicle or out side the home.

 

[khorn]

Also, my insurance will cover the bike if I crash on a trai ride and destroy the bike.

Karsten

 

[Jrwilliams7]

Wow thats unbeliable in the UK we insure £400K ( or $500K) homes for about £300 per year-mind you- ours are made of bricks and we dont get hurricanes.

I’m in Southern California so we have high fire, flood and earthquakes risk. And if you can find me a home under $500,000 here it must be old and falling apart

But still crazy the differences across the pond.

 

[Jrwilliams7]

But

your home owner insurance won’t cover your bike if stolen from your vehicle or out side the home.

My home insurance coverage is world wide so if my bike gets stolen in Mexico I’m covered. Or attached to my car our even if I crash it on accident and total the bike. ( happened to a friend it was covered he hit a parked car on a TT bike at 35mph)

 

[Wiltshire Warrior]

Just found out why I dont have insurance on my bikes - after doing a garage audit and finding the current equivalent replace bike I need £42250 cover!
I think I will just buy more locks for peace of mind!

 

[SteveS]

But

your home owner insurance won’t cover your bike if stolen from your vehicle or out side the home.

USAA will cover it under homeowners. I tried to apply for a personal property schedule to cover my Haibike, but the agent said it's covered under homeowners, even if I'm out and about and it's stolen.

 

[Jrwilliams7]

USAA will cover it under homeowners. I tried to apply for a personal property schedule to cover my Haibike, but the agent said it's covered under homeowners, even if I'm out and about and it's stolen.

You are correct USAA is almost as good as Farmers and State Farm. They cover bikes as personal property and cover them for all peril loss.

USAA has stricter wording on there general policy that’s why I say there not as good but they are way better than the Geico and Nationwides of the world.

 

[Old Northern MTB'er]

Tried to put my Haibike onto my AA home contents insurance, value £5400.... My acoustic Whyte G170 already on it. AA didn't want to know. Tried a few of the specialist cycle insurance sites online quote generators and was shocked at how much the annual premiums were!! Will have to keep shopping around as I do want it covered as I'm planning lots of multi-day adventures.

 

[Wiltshire Warrior]

ANSWERED :

TSB Bank "pick and protect" bike insurance covers all your bikes upto £3500 at home or away with £50 excess on each bike for £32.93 PER YEAR!!! - I told them that was too cheap!

Bikes need to be in a locked garage or locked to a fixed object (away from home) or in your possession - and they cover E- bikes!

And they confrimed they will cover all of my bikes - there is no limit up to 3.5K each!

 

[MattyB]

ANSWERED :

TSB Bank "pick and protect" bike insurance covers all your bikes upto £3500 at home or away with £50 excess on each bike for £32.93 PER YEAR!!! - I told them that was too cheap!

Bikes need to be in a locked garage or locked to a fixed object (away from home) or in your possession - and they cover E- bikes!

And they confrimed they will cover all of my bikes - there is no limit up to 3.5K each!

From their site....

What are the main exclusions from bike insurance?
You won’t be able to claim for:

• ...bikes with a motor

 

[Wiltshire Warrior]

I did mention that to them and they confirmed that a bike with a motor is taxed and registered so they confirmed E bikes are ok and covered

 

[MattyB]

I would get that confirmed in writing if I were you - I couldn't see that detail explicitly stated in the policy doc either, though I only scan read it. That is exactly the kind of imprecise terminology that insurers will use to weasel out of paying out in the event of a theft.

 

[Wiltshire Warrior]

yes I provide the Make and Model which is being specified on my policy - PS I also Work at TSB but we dont get staff rates.

For the Doubters out there:

 

[RickW]

just tried with Admiral - no go for one bike as above their limit and the other was a huge amount

Any other ideas?

 

[Wiltshire Warrior]

just tried with Admiral - no go for one bike as above their limit and the other was a huge amount

Any other ideas?

change to TSB insurance then < 75p per week for all your bikes with cover up to 3500 each

 

[RickW]

both bikes are well north of that; Admiral would insure up to 5k; one of the bikes is north of that and the underwriter will not agree to go higher

 

[Wiltshire Warrior]

FFS PedalSure want £359 per year for the same cover that I get from TSB for £37 per year, they must think we are simple!

 

[RickW]

yup - that's my problem; the limit of the normal policies

My insurance is up for renewal shortly so I hope to get a decent contents policy which will allow up to 10k any one item

 

[Kernow]

Here’s my pedalcover details
Includes my home and workshop insurance , I don’t need to list my bikes , which is good as there’s quite a few and they change quite often . The 12k cover worldwide gives great peace of mind when we’re away with the bikes , there no restriction for bikes used in racing iether which was the problem before . So for about another £100 I’ve got a great home insurance and bike cover . I think it’s an amazing deal and doesn’t seem to have any of the small print wiggle out clauses that other policies do .

• · £1 million Building cover
• · £75,000 of Contents cover (would cover all your bikes at home)
• · New for old
• · £2 million public liability
• · £12,000 of Unspecified cover worldwide – this would include any personal possessions and your bikes
• · Competition cover is included for Triathlons, Duathlon, Sportives & Road based time trials (Road racing, criterium racing, circuit racing and equivalent, Track racing and competitive downhill mountain bike racing are excluded)
• · Transition cover

The full policy documents have been posted.

Your premium of £295.00 has been collected from the account details provided over the phone.

 

[RickW]

thanks for the tip Kernow (where abouts in Cornwall?)

Will definitely put them in the comparison list when I renew my home - who would have thought it a speciality cycle based home insurer