Buying cycle / cyclist insurance?
Discussion
Deliberately chosen to start a new thread rather than divert the other insurance thread running at the moment.
I've recently got back into cycling, only in a small, commuting way (two 2.5 mile journeys per day). The bike I bought is a Brompton M3L, I rather surprised myself at spending nearly £800 on a bike when previously the most I have paid for a bike was around £120. So the bike is pretty valuable to me; as is my desire not to end up in an accident on the roads. Luckily my commute is mostly on a canal towpath, so I don't need to mix it with cars apart from the first and last few hundred yards of the ride.
So, given the value, and also the concerns raised on the other thread, I'm considering my insurance options. I can add, I believe, the bike to my home contents insurance - will ths cover just if it is stolen, or will it also cover it in case it is damaged in a collision? What about if it is damaged during the train part of my commute when it is folded up (last couple of days I have had to ask lardy straphangers to be careful where they were standing, for example)
Third party insurance, from what I can gather it's part of the CTC membership, so perhaps I just need to sign up for that, unless there is another option that would provide me 3rd party liability and theft / damage?
I've recently got back into cycling, only in a small, commuting way (two 2.5 mile journeys per day). The bike I bought is a Brompton M3L, I rather surprised myself at spending nearly £800 on a bike when previously the most I have paid for a bike was around £120. So the bike is pretty valuable to me; as is my desire not to end up in an accident on the roads. Luckily my commute is mostly on a canal towpath, so I don't need to mix it with cars apart from the first and last few hundred yards of the ride.
So, given the value, and also the concerns raised on the other thread, I'm considering my insurance options. I can add, I believe, the bike to my home contents insurance - will ths cover just if it is stolen, or will it also cover it in case it is damaged in a collision? What about if it is damaged during the train part of my commute when it is folded up (last couple of days I have had to ask lardy straphangers to be careful where they were standing, for example)
Third party insurance, from what I can gather it's part of the CTC membership, so perhaps I just need to sign up for that, unless there is another option that would provide me 3rd party liability and theft / damage?
I joined CTC just to be sure I'd got the third party liability rather than wading through my home insurance policy to figure it out. At £3 per month, it's hardly unaffordable.
As for bike cover, I specifically went for M&S for my home insurance cover, as they provide excellent bike cover. The amount of cover is higher (up to £5k without having to specifically state your bike as a high value item iirc), and surprisingly as well they only require your bike to be locked, as opposed to locked with something rated as suitable for securing Fort Knox. Whilst I wouldn't tempt fate by leaving the bike lying around Lambeth with just a cheapo chain on it, it is nice to know I can pedal off into the tranquility of the Surrey Hills without carrying half a ton of D lock and still be covered if the worst happens and someone swipes the bike during a pub lunch or something.
As for bike cover, I specifically went for M&S for my home insurance cover, as they provide excellent bike cover. The amount of cover is higher (up to £5k without having to specifically state your bike as a high value item iirc), and surprisingly as well they only require your bike to be locked, as opposed to locked with something rated as suitable for securing Fort Knox. Whilst I wouldn't tempt fate by leaving the bike lying around Lambeth with just a cheapo chain on it, it is nice to know I can pedal off into the tranquility of the Surrey Hills without carrying half a ton of D lock and still be covered if the worst happens and someone swipes the bike during a pub lunch or something.
Kermit power said:
I joined CTC just to be sure I'd got the third party liability rather than wading through my home insurance policy to figure it out. At £3 per month, it's hardly unaffordable.
Your M&S home policy covers you for upto 2 million 3rd party liability, on both standard and premium policieshttp://money.marksandspencer.com/pdf/HIPolicy.pdf
Section 15, page 15 and section 23, page 18
itsnotarace said:
Your M&S home policy covers you for upto 2 million 3rd party liability, on both standard and premium policies
http://money.marksandspencer.com/pdf/HIPolicy.pdf
Section 15, page 15 and section 23, page 18
Cheers for that. It does raise some other interesting points though. Apparently I'm not covered for deliberate acts by my or my family. Interestingly, though, they paid out when my son deliberately covered one of our armchairs in nail polish.http://money.marksandspencer.com/pdf/HIPolicy.pdf
Section 15, page 15 and section 23, page 18
I assume they have some flexibility over the term "deliberate" when the instigator is only 4!
I just purchased a Brompton M3R for bike/train/bike commute, pixs in show off your bike!. My home insurance covers bike against theft for around £10 a year, not too much smallprint, I have claimed for bike theft 3 times in lasy 10 years, paid out with no aggro (LV). Also liability insurance free of charge. No accidental damage cover for my bike though...
all my bikes are added on the home contents policy but at a price, some are over £100 per annum. depite being in a locked garage and locked to each other. have heard horror stories about people trying to claim on policies, needing two halves of a broken lock etc...
as an alternative to the CTC, British Cycling members are also covered through a members insurance scheme
http://www.britishcycling.org.uk/membership/articl...
as an alternative to the CTC, British Cycling members are also covered through a members insurance scheme
http://www.britishcycling.org.uk/membership/articl...
pablo said:
as an alternative to the CTC, British Cycling members are also covered through a members insurance scheme
http://www.britishcycling.org.uk/membership/articl...
As are LCC members, if you ride in London and want to support a more local-focused group. £32 a year including third party liability with (I think) no excess to pay.http://www.britishcycling.org.uk/membership/articl...
Having got hit by a car, and still disputing with the driver about liability and the £380 worth of damage she caused to my bike 6 months later, I decided to get insurance on my bike.
I used Environmental Transport Association -http://www.eta.co.uk/
It was recommended to me by a friend who did a lot of research on various bike forums.
Quite comprehensive. Luckily not had to claim yet, so I can't comment on the full service.
1 Cover for theft, accidental damage & vandalism (no de-valuation)
RACE COVER INCLUDED
2 Third party cover up to £1m worth up to £27 when bought separately
3 Personal accident cover up to £20,000 worth up to £23 when bought separately
4 Breakdown recovery for your bicycle worth up to £35 when bought separately
5 90 days’ European cover
6 60 days’ worldwide cover
7 Bike hire up to £250 to spend on a hire bike following an approved claim
8 ‘Get You Home’ cover a taxi home should your bike be damaged or vandalised
9 No claims discount earn up to 40% no claims discount
10 Low excess 5% (£25 minimum payment)
I used Environmental Transport Association -http://www.eta.co.uk/
It was recommended to me by a friend who did a lot of research on various bike forums.
Quite comprehensive. Luckily not had to claim yet, so I can't comment on the full service.
1 Cover for theft, accidental damage & vandalism (no de-valuation)
RACE COVER INCLUDED
2 Third party cover up to £1m worth up to £27 when bought separately
3 Personal accident cover up to £20,000 worth up to £23 when bought separately
4 Breakdown recovery for your bicycle worth up to £35 when bought separately
5 90 days’ European cover
6 60 days’ worldwide cover
7 Bike hire up to £250 to spend on a hire bike following an approved claim
8 ‘Get You Home’ cover a taxi home should your bike be damaged or vandalised
9 No claims discount earn up to 40% no claims discount
10 Low excess 5% (£25 minimum payment)
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