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Bike insurance

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  • 01-03-2019 3:07pm
    #1
    Don't Chute!
    Registered Users Posts: 1,842 ✭✭✭


    I recently bought a new bike and want to put it onto the house insurance. My wife rang them today but they said they usually only go as far as €2500. Is this right? What has anyone else done with theirs? I also want to insure against damage while cycling. Any advice would be appreciated.


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    #2
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    Don't Chute! wrote: »
    I recently bought a new bike and want to put it onto the house insurance. My wife rang them today but they said they usually only go as far as €2500. Is this right? What has anyone else done with theirs? I also want to insure against damage while cycling. Any advice would be appreciated.

    My bike cost exactly that and I put it on the house insurance with fbd, added a nice bit to the premium but it’s worth it in my view. I’m covered for all damage to the bike if I get hit (hopefully I’ll be ok :)) or come off it and damage it. The bike will need to be stored securely in a locked shed or indoors when not in use.


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    #3
    Don't Chute!
    Registered Users Posts: 1,842 ✭✭✭Don't Chute!


    Looks like I'll have to get a seperate insurance which is actually more than the house insurance!


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    #4
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 76,398 Admin ✭✭✭✭✭Beasty


    For a normal house policy you are probably lucky to get as much as €2.5k of cover. You also need to check whether they will replace at cost, or only at depreciated value (which could be considerably less)

    Personally I don't insure, but equally I can afford to replace the fleet if required. Don't like contributing to the profits of insurers though


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    #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Beasty wrote: »
    For a normal house policy you are probably lucky to get as much as €2.5k of cover. You also need to check whether they will replace at cost, or only at depreciated value (which could be considerably less)

    Personally I don't insure, but equally I can afford to replace the fleet if required. Don't like contributing to the profits of insurers though

    We've found our lotto winner :pac:


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    #6
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 76,398 Admin ✭✭✭✭✭Beasty


    [Deleted User] wrote: »
    We've found our lotto winner :pac:

    In addition to not liking contributing to the profits of insurance companies I also do not like gambling in a situation where the odds are so stacked against me

    Anyway, the fleet was established well before the lottery win :)


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    #7
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators Posts: 49,586 CMod ✭✭✭✭magicbastarder


    it usually boils down to whether you want the bike covered as part of contents (i.e. not specifically 'a bike') or whether you want it covered outside the house. getting it covered outside the house is usually eye wateringly expensive - from what i was once quoted for this, it would have only made sense to take out this insurance if i expected to write the bike off once every five years in a crash. and the insurance policy was very specifically not going to cover racing incidents (not that i intended to race anyway).

    and i have to bear in mind that the two people i know who have had to replace bikes due to crashes have claimed off the motorist's insurance to do so. so bike insurance in that context would have been redundant.


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