Result on bike insurance!!!
Discussion
I picked up my Boardman Comp FS a couple of days ago and finally got round to getting it insured today. I decided to phone my home insurance and see if I could add it to that (Sainsburys home insurance). They said they could only insure a bike up to £500 which is no good as mine is worth £800. They said they would have to provide a seperate quote for a policy in additional to my home insurance. They came back with a quote of £12 a year which I thought was outstanding. This includes cover if the bike is stolen inside my garage and also outside away from home and also if I lose the bike. Also it includes 60 days cover a year out of the UK if I decide to go with it abroad on holiday. I really was expecting to pay a lot more for insurance I will definetly be staying with Sainsburys when it comes for renewal. 
Check the small print. I tried to insure my Giant Reign 1, and the quote came back at what I thought was a reasnoible price.
When I read the small print further, the bike needed to be secured at all times at home & away with a 'gold rating kriptonite' lock', of which they needed me to advise them of the serial number (so I couldn't just say I had one I guess?).
Firstly my garage is secure, and to get at the bike a robber would 1st have to move my car.
Secondly - when away from home, it woud totally ruin my ride if I had to carry a high security lock in a back pack due to the weight.
Basically the insurance company will want to take your money, but ensure that the bike is so secure at all times that it will never be stolen so they will never have to pay out.
I decided to keep my old bike (Trek 4700 from memory), for family holidays when it will be left locked (but not a high security lock)and unattended, as the 2nd hand value of my old bike was not going to be much more than the required lock, plus I save the annual cost of my insurance prenium!
When I read the small print further, the bike needed to be secured at all times at home & away with a 'gold rating kriptonite' lock', of which they needed me to advise them of the serial number (so I couldn't just say I had one I guess?).
Firstly my garage is secure, and to get at the bike a robber would 1st have to move my car.
Secondly - when away from home, it woud totally ruin my ride if I had to carry a high security lock in a back pack due to the weight.
Basically the insurance company will want to take your money, but ensure that the bike is so secure at all times that it will never be stolen so they will never have to pay out.
I decided to keep my old bike (Trek 4700 from memory), for family holidays when it will be left locked (but not a high security lock)and unattended, as the 2nd hand value of my old bike was not going to be much more than the required lock, plus I save the annual cost of my insurance prenium!
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