Bike insurance?
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mojo227



Joined: 07 Jun 2008
Posts: 24

PostPosted: Wed Oct 01, 2008 4:17 pm    Post subject: Bike insurance? Reply with quote

Hi there,

Just wondering what the deal is with bike insurance, bike cost me 1,100 and the new model is 1999. What would Insure it for and any recomendations on where to buy insurance from?

I need it to protect bike in garage and out on street (ie getting it mugged off me! or nicked from where I chained it up)

I bought an Abus Discus lock and chain with a Silver rating...

Thanks
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Gunner



Joined: 15 Apr 2007
Posts: 29327
Location: Under Whitestone-Cliffe on the Lake.

PostPosted: Wed Oct 01, 2008 8:23 pm    Post subject: Reply with quote

You would generally need to take out a specified items policy on your existing contents policy, the premium would depend on the cover/amount specified.

Normal contents policy's depreciate a bike, any bike, by a third after every year of ownership, therefore by year 3 your bike will be worthless.

Remember that most people buy a bike, ride it a few times, forget to oil it, leave it out in the rain, then lock it in the shed where it rusts to peices.

Obviously to you, your bike will still be worth the original price by year 3 as you will look after it.

You could alternatively try the CTC page and look at their cover or try M&S, I have heard some good things about their policy schedules.

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HarryB



Joined: 23 Feb 2008
Posts: 3325
Location: High Hesleden Hartlepool

PostPosted: Wed Oct 01, 2008 8:39 pm    Post subject: Reply with quote

M&S are great. LV even better. They'll insure my stable of bikes so they'll insure anything
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darich



Joined: 26 Oct 2008
Posts: 3
Location: Scotland

PostPosted: Mon Oct 27, 2008 5:58 pm    Post subject: Reply with quote

Gunner wrote:

Normal contents policy's depreciate a bike, any bike, by a third after every year of ownership, therefore by year 3 your bike will be worthless.


If the bike was 1100 when new then after year one it's depreciated by a third making it worth 737. Year two and another third off makes it 494. Year three and the final third off makes it worth 331.

Not exactly worthless but it's worth remembering that it's a third off the current price every year, not the new price - just like a car.

Still a significant chunk off the new price.
Smile

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K88MUD



Joined: 20 Sep 2008
Posts: 798
Location: New Marske

PostPosted: Mon Oct 27, 2008 6:22 pm    Post subject: Reply with quote

These come highly reccomended............Here
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