Cycle insurance in 2013 - no longer M&S?

[Kathy]

So the house insurance requote has come through from M&S, and I've read the small print (because that's the sort of person I am), and I noticed that the value of "unspecified pedal cycles" has dropped from (IIRC) about £4k to £2k since last year.

So, because I'd like the tandem to be covered, who do people recommend as an insurer? Are there any house-contents policies which would cover bikes worth around £4k? Or do we need to move to a specialist cycle insurer?

(I am aware that there are a few threads on this, but most of them date back to 2011, and obviously things have changed drastically since then).

[Jurek]

Since the M&S change of policy I've shifted my contents/bike insurance to the AA.
This means that my bikes are not covered for theft whilst away from my home.
I carry a half decent lock, keep the spendy bikes locked and preferably in sight (it's less of a worry when riding outside of Londres) - the only one to be locked and out of sight in urban areas is the Pompino, when I go to the stupormarket...
Otherwise research showed the premiums to be f'ck off we do not want your sort of custom too high to make any sort of sense, by a big margin.
If you find a reasonably priced insurer, I'd love to know.....
G'luck

[Ham]

This isn't a recommendation because I trust them as far as I can throw them, but Admiral have my money this yearfor house and contents, as well for a multi-motor policy. Surprisingly I managed t renew with them on the motor insurance, although the final bill was 20% less than they quoted first for exactly the same thing. The home insurance was also competitive, and bike cover was good on their platinum-coated version. Unfortunately they won't provide protected no claims, which I normally buy as it is low cost.

[mr magnolia]

Kathy
Do you happen to know if the pedal cycle value limit at Mark's and Spencer's  is a per machine limit,or a per claim limit?

[Jurek]

Kathy
Do you happen to know if the pedal cycle value limit at Mark's and Spencer's  is a per machine limit,or a per claim limit?

It's per bike AFAIK

[mr magnolia]

Ah well, us cheapskates are ok then.
They may not be pleased if all 7 of them disappear at once though...
Hmm - starts wondering if bicycles form a 'collection'...

[Kathy]

Kathy
Do you happen to know if the pedal cycle value limit at Mark's and Spencer's  is a per machine limit,or a per claim limit?

It's per bike AFAIK

Per (unspecified) bike.

Am going to phone them tomorrow to find out how much "specifying" a bike will up the premium by...

[mr magnolia]

Ta muchly.

[Jurek]

Ooohhh!
Good luck.
I'll be interested to hear how you get on.
I see darkness, Hades gates, The river Styx and more of the same in your quest.
Insurance companies.
Don't you luv'em?

Aside: Do we have anyone on here working for one?......
Srs question....

[Julian]

I'd love to know because M&S upped our insurance by £STUPID after our (other) house got burgled.  The fact that we now live somewhere completely different doesn't seem to have registered.

[Jurek]

I'd love to know because M&S upped our insurance by £STUPID after our (other) house got burgled.  The fact that we now live somewhere completely different doesn't seem to have registered.

That worries......
It is (one reason) why I moved away from M&S...

JB

[Andrew Br]

Have a look at this outfit:-  http://www.naturesave.co.uk/

I've been with them for more years than I care to think about.
I used to get alternative quotes when it was renewal time and they were always competitive enough that I didn't/wouldn't change.
They forked out for without any quibbling when my bike got nicked.
On another occasion I had a shower leak. I got two quotes and said that the more expensive one seemed a better offer.
That's what they told me to go for.

Usual disclaimers; I'm a happy and long term customer only.

[orienteer]

Been with John Lewis for a few years for house insurance, they covered my expensive Moulton for a reasonable extra amount.

This year's renewal notice said they were changing from AXA to RSA, and the limit for each pedal cycle was down from £4k to £1k, so I rang them. They said they would continue to cover my bike by transferring the cover to a specific bike category (it was in a genera,l high value item category before), without changing the renewal premium they'd already quoted.

So John Lewis might be worth considering.

[Kathy]

Aside: Do we have anyone on here working for one?......
Srs question....

<raises hand tentatively>

[tiermat]

A conversation I had with His Leggship last year leads me to believe that the Halifax are pretty damned good WRT to cycle cover.

[tatanab]

I use a broker to find me insurance.  For at least the last 10 years their recommendation has been AXA where pedal cycles can be insured as named valuables on the contents policy.  I do not know how good AXA might be in the event of a claim and of course I do not want to find out.

[henshaw11]

I've a sneaking suspicion that when I renewed through M&S earlier this year (and I think they'd already moved from AXA) I spotted some changes in the small print and wound up specifying my recumbent - but probably only make/model, don't recall digging out the frame number. I think there was an increase of 20-40 quid.

That said, I think I'll be having a better hunt around next time - last time I looked, Waitrose/John Lewis looked kinda comparable (also AXA) but sounds like that's changed.

[Mrs Pingu]

Looks like JLP now use RSA and have pedal cycles as an add on. I should really have had a look around when our M&S renewal came through but couldn't scrape the requisite tuits together.

[giropaul]

A cycling friend of mine, who is well versed in financial things, only insures what the law requires him to. Over a period of time he reckons he saves oodles. He convinced me.

I don't insure my bikes. I gave up doing so when the mustelid tendencies of the insurance industry  persuaded me that the chances of being properly compensated for any losses would, in reality, be minimal. To do so in a way that they were properly covered would cost a new bike's worth of money every year. I keep them well secured, and in several locations, when not being ridden. When out, I strangely only usually ever have one with me.

I never buy "a bike" - it's all e-bay and other purchases, so I'd have a job "proving" what the value of anything lost was. A "new" bike like one of my race bikes would be a lot of £000's. However, if one was nicked I could replace for a maximum of say £2,500. "Good" insurance for my bikes might cost £1500/annum (yes, I am serious, that's only 15 bikes at £100/bike - BC insurance, which is about the only one that offers realistic cover, is at least that). In 2 years I am in "profit".

[CrinklyLion]

I just added the tandem as a named valuable personal possession onto my existing policy with NFU for the remainder of this year (which runs to sometime in September).  It's covered at home, in outbuildings, and out and about.  Cost about 40 quid extra for the year.  Worth it to me!  Because I can afford 4 quid a month to insure it, but if it was nicked/was in the house and the house burned down/got trashed/etc I couldn't afford another one at all.

[Wascally Weasel]

Have previously used Hiscox but they upped the premium massively after the first year.  Currently use Marsh which offer pretty good cover (but have a hefty excess).  You can specify items of particular value.

[Wobbly John]

...  I do not know how good AXA might be in the event of a claim and of course I do not want to find out.

A few of us who have claimed from AXA, have found them particularly mustelid. 

[peliroja]

We're with the AA. £294 for home and contents (up to £40k) for the year, including home-and-away cover for bikes.

[Kim]

I don't insure my bikes. I gave up doing so when the mustelid tendencies of the insurance industry  persuaded me that the chances of being properly compensated for any losses would, in reality, be minimal. To do so in a way that they were properly covered would cost a new bike's worth of money every year. I keep them well secured, and in several locations, when not being ridden. When out, I strangely only usually ever have one with me.

This.

The bike that's most likely to get nicked (ie. the one I tend to lock up unattended for more than 5 minutes) could be replaced for under a grand.  That's about two years insurance premiums.

[Cudzoziemiec]

That's my attitude too. ^ I've even heard a (reputable, trusted) LBS express it like this: Your house is not very likely to burn down, but if it did, it would be a personal tragedy and a financially life-ruining disaster. The premium is small compared to the cost of rebuilding or buying a new house and possessions, it's worth it. Bike theft is more common and also a tragedy, but not usually a life-ruining financial disaster. The premium is high compared to the cost of buying a new bike. Not worth it. Instead, get (a) good lock(s) and use them properly (and get fire alarms and extinguishers in addition to house insurance!)