Home insurance and bikes

multisport

Hi,
Anyone else being told by insurers that they won't quote for including bikes under house and contents insurance?

In ringing around over the last few days we've been told this, I'm a bit surprised as it was never mentioned to us in previous years.

jamesd

Bikes over a 1000€ yes, I had to ring about 8 companies to find out that would insure a bike over €1001.

magicbastarder

depends on what specifically you're looking for. some insurance companies may ask you to list individual items worth more than say €1000 or €2000 for them to be covered, and some vary on whether you're insuring bikes on 'all risks' or not. my insurance company covers my bikes as general contents, not as bikes - i.e. they've covered for theft from within the house itself, but not general cover for theft outside the house.

circler

I've mine specifically named on the policy.

barryf42

i have mine named on my policy along with other items over e1500 -as that is company threshold for individual items etc. just bike and value and in renewal last november - changed bike and value was no issue etc

homer911

I've been using bikeinsurance.ie but they have just announced a premium increase of > 50% so will have to rethink..

harringtonp

Got a call from Zurich about renewing and asked them specifically if bikes stolen from the house in the event of a break in were covered. Was told that they come under normal contents insurance once locked. I said they are not actually locked inside the house but that the house is locked and that seemed ok.

Somehow though I got the feeling that if they were ever stolen from the house it would not be so straightforward... when you ask a question and the person goes offline to check with someone else the process does not install confidence.

There is a "Pedal Cycle" optional extra on the policy which is not included but that is for out of the house bike insurance I am told (which I am not interested in as amount covered too low)

jamesd

Im with zurich too and for the bike over €1000 they had to go to a 3rd party for cover and get it confirmed, it added about €300 onto my insurance for the year.

magicbastarder

how much is the bike insured for?

barryf42

magicbastarder wrote: »

how much is the bike insured for?

i have mine insured for 3k with 123.ie and estimate it adds e50 to the policy. this is the 2nd bike i had on policy as i changed brand last year and was no issue with changing bike model etc

jamesd

magicbastarder wrote: »

how much is the bike insured for?

4.5K

og2k7

multisport wrote: »

Hi,
Anyone else being told by insurers that they won't quote for including bikes under house and contents insurance?

In ringing around over the last few days we've been told this, I'm a bit surprised as it was never mentioned to us in previous years.

Have it excluded as its more than 1k and on top of it, my separate insurance for the bike went went from 10.94 to 15.43 a month which is a massive jump

jamesd

og2k7 wrote: »

Have it excluded as its more than 1k and on top of it, my separate insurance for the bike went went from 10.94 to 15.43 a month which is a massive jump

Does this separate cover include theft form home / when out / all risks ?

magicbastarder

jamesd wrote: »

4.5K

heh, i wasn't sure if you meant the bike was insured for €1000 in the post i quoted.

og2k7

jamesd wrote: »

Does this separate cover include theft form home / when out / all risks ?

All risks but probably theres more in the fine print so they could get away with it

jamesd

og2k7 wrote: »

All risks but probably theres more in the fine print so they could get away with it

Who are covered with ?

Lusk_Doyle

jamesd wrote: »

Im with zurich too and for the bike over €1000 they had to go to a 3rd party for cover and get it confirmed, it added about €300 onto my insurance for the year.

Madness. I'm also with them and have 4 bikes on the policy. No such additional charge.

jamesd

Lusk_Doyle wrote: »

Madness. I'm also with them and have 4 bikes on the policy. No such additional charge.

Are the bikes high value and covered for all ?

harringtonp

jamesd wrote: »

Im with zurich too and for the bike over €1000 they had to go to a 3rd party for cover and get it confirmed, it added about €300 onto my insurance for the year.

Was this for out of house insurance ? And did you get the impression contents insurance would cover the bikes if stolen from inside the house ?

jamesd

harringtonp wrote: »

Was this for out of house insurance ? And did you get the impression contents insurance would cover the bikes if stolen from inside the house ?

Tee house insurance came to €750, the previous year was about €450 ish or so , to add the bike on cost near €300 and they told me theft from the house / shed and damage was covered if the bike was broken from a crash if i was not in a race.

Lusk_Doyle

jamesd wrote: »

Are the bikes high value and covered for all ?

Yes but not covered for all. Just for theft/damage from the home (which includes shed, etc). Specified only so as to not fall foul of the single article limit. I'm of the view that if they get stolen or damaged while I'm out with them then it's my bad. Not worth specific cover for that.

jamesd

Lusk_Doyle wrote: »

Yes but not covered for all. Just for theft/damage from the home (which includes shed, etc). Specified only so as to not fall foul of the single article limit. I'm of the view that if they get stolen or damaged while I'm out with them then it's my bad. Not worth specific cover for that.

Could be right - might look at changing mine down this year.

nilhg

I crashed in a league race a couple of years ago, broke the frame and rear wheel, FBD covered all the costs (new frame, wheel, rebuild) for me because I had it specified as all risks on the policy, the new bike is now covered under the same terms.

I've no idea how much it costs extra on my policy as its a farm multiperl which covers my house and business a lot of things get thrown into the negotiation each year before we agree a price.

The moral of the story is shop around