Insuring bikes for theft from home under home insurance

fat bloke · 01-02-2023 3:38pm #1

Just wondering what folks do in this regard now that bikes routinely cost thousands and thousands of euro. I was surprised at home insurance renewal time that insurers neither knew nor cared that bicycles can be worth more than 300 quid.

I'm not looking for crash cover or theft out and about, just to have them covered as an item in the contents of the house, because they are kept contained IN the house, and not in a garage / shed.

Anyone had any joy with such a thing?

xalot · 01-02-2023 3:44pm

We have our bikes (worth 8k) covered with Zurich against theft inside and outside the house, they're specified all risks. They was an additional cost of about 200euro for it. Allianz also cover bikes I think. Most other providers wont cover over 500euro

CramCycle · 01-02-2023 5:13pm

Had to give it as a specified item but covered under house insurance, no extra and I don't think it covers outside the property.

Weepsie · 01-02-2023 6:51pm

https://www.boards.ie/discussion/2058282413/insuring-bikes-for-theft-from-home-under-home-insurance

One of mine was insured by Zurich. Could've added more. Mike is/was covered for damage outside at the time, but not for routine failure, wear and tear such as a shimanno crank explosion

Grassey · 01-02-2023 7:01pm

I remember looking at it at one point and my policy at the time required the bike to be locked with a D lock when outside, and secured when inside, plus other associated caveats.

A mate was asking me about specific bike insurance earlier, and I'd still rather put €30pm aside and have enough to upgrade each time the BTW comes around!

Macy0161 · 02-02-2023 3:13pm

I had my bikes for a while, as a specified item when they were newer. iirc it added cost to the insurance, and obviously a claim would effect no claims. Ultimately I weighed up it wasn't worth it compared to the value of the bikes (given depreciation), particularly the loss of no claims.

CramCycle · 02-02-2023 4:56pm

https://www.boards.ie/discussion/comment/120188494#Comment_120188494

This is what I would recommend when people ask about the likes of bikmo, put the amount you would spend aside in a savings account. Mine is only listed as there was no extra cost.

https://www.boards.ie/discussion/comment/120192190#Comment_120192190

This, we had a TV damaged and I rang up our old insurers and they basically said, yeah, we will cover it but your premium will jump so much you will have paid for a new TV in 3 years. In many cases, contents insurance is only really for something that you could never afford to replace yourself, eg the house burning down.

fat bloke · 03-02-2023 4:23pm

Oh my good Lord I hate insurance companies so much. An absolute bunch of fcukwits. So I got onto Zurich and gave them the details and they had to get onto the underwriter they said. Never rang me back of course. Why would they like. So I rang them today, and the insurers have refused cover because of...... seriously...... "the value of the bike".

"That's why I want to insure it though isn't it? Because of the value? That's why people insure things."

"Yeah, well, it's just, ah, because, ah, the value is too high so..."

"Right so if the bike was of no value then you'd be happy to insure it is it?"

head wall bang-bang-bang.

jamesd · 03-02-2023 4:28pm

https://www.boards.ie/discussion/comment/120196980#Comment_120196980

What is the value ? I have a €5K bike insured with them.

fatbhoy · 03-02-2023 4:30pm

https://www.boards.ie/discussion/comment/120196980#Comment_120196980

Did you try Zurich? An earlier poster said they'd insured an 8k bike with them.

This is something I'm considering addressing too. I don't have my bikes explicitly insured under house contents. I've three bikes each of which is worth a right few bob, although I keep them in a bike room in the house itself, which minimises the chances of them being stolen (terraced house too, which helps in that regard).

fat bloke · 04-02-2023 2:59pm

That was Zurich sure. Same as yourself, our bikes are kept in the house, not some garden shed, and out and about they're never out if sight, never parked and left.

Anyway. Is what it is. Can't argue with a plank.

HeidiHeidi · 04-02-2023 3:04pm

I'm insured with Allianz (via Chill.ie), and I have an e-bike fully covered, all risks. There was a bit of to-ing and fro-ing when I was setting up the policy, and I can't remember how much remember it was but it wasn't a lot.

ETA looking at my policy documents, there was no addition to the premium for the bike!

CramCycle · 04-02-2023 3:46pm

I can't remember if I am Allianz or Irish Life, but no issues with a 3.6k bike. Although if its nicked they might argue the toss about what its current value is. This does remind me, I haven't added my other babies onto the house insurance so must get that done next week.

Shedite27 · 04-02-2023 3:49pm

My bike is covered with Aviva as a specified item. Valued at 4k

Cabaal · 05-02-2023 8:38pm

Curious whats the situation for most people about storage, do they expect them to be stored in doors or what?

magicbastarder · 05-02-2023 8:55pm

the storage has to be 'secure', or words vaguely to that effect; IIRC there has to be a degree of violence in the theft, and could give them a bit of wiggle room. so indoors or in a shed meeting this unspecified level of sturdiness.

if you had a 5 grand bike stolen from a €300 plastic bin container locked with a small padlock, i suspect they'd argue.

Macy0161 · 07-02-2023 12:43pm

Mine also in the house, but was looking at cover in the shed. Had to be to something immovable/ fixed, and the door of the shed secured too.

HeidiHeidi · 07-02-2023 1:51pm

Mine is under a soft cover in the (locked, high-walled) back garden/yard. I don't usually keep it locked, unless I'm going away, when I'll either lock it or bring it into the house. I keep the battery and the bike separate, usually.

I'm not saying there wouldn't be hassle claiming for theft if it happened (I would assume hassle with any insurance claim, tbh!) but I answered all questions honestly and got all risks cover.....

HeidiHeidi · 27-01-2024 10:00am

https://www.boards.ie/discussion/comment/120211091#Comment_120211091

Just an update on this, for the info of anyone wondering about insuring bikes......

some robbing feckers got in over a 10ft high wall, and took my beloved bike complete with battery back over the same 10ft high wall. No idea how, the thing weighed about 25kg, but there it was gone last week.

Insurance has paid out in full (no excess even, because it was a specified item, which I was not expecting!) no hassle whatsoever. Cover was with Allianz via a broker.

I suspect that's probably the last time I'll get all risks insurance for a bike unless it's for a hefty premium - but I plan on getting some sort of shed built, with a D-ring that I can lock the bike to, and a camera to cover the back garden before I get a replacement bike - and then I'll see what I can do about getting cover for it.

Insuring bikes for theft from home under home insurance

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