insurance for bikes

I've been recommending M&S home contents for ages,
due to its useful high limits on "all risks" away
from the house items.

Probably aimed more at cameras, jewelery etc,
but rather useful for high value bikes.

Many other insurers set a limit of 250, or (more rarely) 1000.

However, the renewal premiums for this excellent cover
have risen dramatically, so I'm checking the market again.

So - anyone know an economical way to get around a dozen
bikes, some with over 1000 pound replacement value, insured?

BugBear

On Aug 25, 9:26*am, bugbear wrote:
I've been recommending M&S home contents for ages,
due to its useful high limits on "all risks" away
from the house items.

Probably aimed more at cameras, jewelery etc,
but rather useful for high value bikes.

Many other insurers set a limit of 250, or (more rarely) 1000.

However, the renewal premiums for this excellent cover
have risen dramatically, so I'm checking the market again.

So - anyone know an economical way to get around a dozen
bikes, some with over 1000 pound replacement value, insured?

* BugBear

No.
My household insurance has a limit of 1000 quid on one bike or ten
bikes.
I do not bother with bespoke insurance as the costs are ridiculous, I
just make sure I never leave them vulnerable to theft.
It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

--
Simon Mason

On Thu, 25 Aug 2011 01:30:33 -0700 (PDT), Simon Mason
wrote:

It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

As someone said a few days ago (it may have been yourself) insurers
are good at calculating risk. Insurance premiums for bikes are high
because the number of claims made is high. Over half a million bikes
are stolen every year, far more than the number of cars stolen.

On Aug 25, 10:33 am, Peter Parry wrote:
On Thu, 25 Aug 2011 01:30:33 -0700 (PDT), Simon Mason

wrote:
It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

As someone said a few days ago (it may have been yourself) insurers
are good at calculating risk. Insurance premiums for bikes are high
because the number of claims made is high. Over half a million bikes
are stolen every year, far more than the number of cars stolen.

That is largely true, but for young men the premiums are astronomical as the
cost of the damage, injuries, deaths and compensation they can incur is
vastly more than any cycle insurance. As you say, insurance companies know
where the risks are. 4000 quid for a young man is not unheard of and many
will not touch them at all.

http://www.postonline.co.uk/post/new...-rises-gbp4000

--
Simon Mason

On Thu, 25 Aug 2011 01:30:33 -0700 (PDT), Simon Mason
wrote:


It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.


Perhaps the bike is worth ****-all, and the car is worth less than ****-all.


Simple really
--
Simple Simon Mason - who cycles at 25mph in 20mph limits just because the limits do not apply to cyclists.
This includes exceeding the speed limit past three schools. A total disregard for the well-being of vulnerable road users.
The actions of a true psycholist.

"Simon Mason" wrote in message
...
On Aug 25, 9:26 am, bugbear wrote:
I've been recommending M&S home contents for ages,
due to its useful high limits on "all risks" away
from the house items.

Probably aimed more at cameras, jewelery etc,
but rather useful for high value bikes.

Many other insurers set a limit of 250, or (more rarely) 1000.

However, the renewal premiums for this excellent cover
have risen dramatically, so I'm checking the market again.

So - anyone know an economical way to get around a dozen
bikes, some with over 1000 pound replacement value, insured?

BugBear

No.
My household insurance has a limit of 1000 quid on one bike or ten
bikes.
I do not bother with bespoke insurance as the costs are ridiculous, I
just make sure I never leave them vulnerable to theft.


It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

Very odd, I wonder what the reasons could be?

On Thu, 25 Aug 2011 14:10:43 +0100, Mentalguy2k8 wrote:

"Simon Mason" wrote in message
...

It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

Very odd, I wonder what the reasons could be?

Presumably a bicycle is a much more sought-after and desirable thing
than a car. It's normally cheap to insure things that no-one wants to
nick.

regards, Ian SMith
--
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On Thu, 25 Aug 2011 09:26:00 +0100, bugbear wrote:
I've been recommending M&S home contents for ages,
due to its useful high limits on "all risks" away
from the house items.

Probably aimed more at cameras, jewelery etc,
but rather useful for high value bikes.

Many other insurers set a limit of 250, or (more rarely) 1000.

However, the renewal premiums for this excellent cover
have risen dramatically, so I'm checking the market again.

So - anyone know an economical way to get around a dozen
bikes, some with over 1000 pound replacement value, insured?

Hiscox basic policy (505) covers bikes up to 1000 per bicycle when
away from home. At home they are fully covered in the house, but
subject to a total contents limit in outbuildings. An attached
garage is not an outbuilding but a detached garage is.

One advantage with Hiscox is that they seem to have more scope to vary
the terms than other insurers I've dealt with. When I phoned up to
try and get something covered the telephone person wasn't sure about
it but checked with the underwriter directly before getting back to me
with a quote (which was actually a quote and a condition requiring
certain security measures). You could ask them for more than 1000 on
your bikes.

Hiscox marketing makes a big thing about how they won't insure just
anybody, you have to meet their criteria before they'll accept your
business, but I don't know either whether you meet their criteria
already, or whether they really will turn away premiums from someone
that doesn't.

I've used them for some time now for buildings and contents - they
were not the cheapest last time I checked (but cheaper than M&S when I
did so), but I'm willing to pay the extra for the fact that whenever
I've phoned them up there's an intelligent human being on the phone,
not a drone working from a script. I've never had to claim so can't
endorse how good they are in those circumstances.

regards, Ian SMith
--
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|o o|
|/ \|

On Aug 25, 7:22*pm, Ian Smith wrote:
On Thu, 25 Aug 2011 14:10:43 +0100, Mentalguy2k8 wrote:

*"Simon Mason" wrote in message
...

It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

*Very odd, I wonder what the reasons could be?

Presumably a bicycle is a much more sought-after and desirable thing
than a car. *It's normally cheap to insure things that no-one wants to
nick.



Bicycles are easier to nick.
Young lads in cars do most damage.
That's why both premiums are high.

--
Simon Mason

On 25/08/2011 20:30, Simon Mason wrote:

Ian wrote:
wrote:
"Simon wrote:

It is odd when I can get fully comp for my car for 200 quid or so, but
cycle insurance is sky high.

Very odd, I wonder what the reasons could be?

Presumably a bicycle is a much more sought-after and desirable thing
than a car. It's normally cheap to insure things that no-one wants to
nick.

Bicycles are easier to nick.
Young lads in cars do most damage.
That's why both premiums are high.

Something's gone wrong here.

The story until now has been that bicycles are all insured on either the
household's pet/vet insurance or on their owners' mothers' Prudential policy.

When did that cease?