slowhand
Reged: 11/12/2006
Posts: 882
Loc: Leeds, West Yorkshire
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Since I am buying my new bike on CycleScheme, I need to insure it against loss not only from home, but also from work and also if it is written off in a crash. Does anybody have any recommendations for cycling specific insurance policies? I will not be racing, except maybe for some club 10s, but may be riding some sportives/charity rides.
Thanks.
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"There's a way of transferring funds that is even faster than electronic banking. It's called marriage."
James Holt McGavran
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bigoldsideofham
Reged: 23/12/2007
Posts: 2288
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I got a quote for my then 3 bikes including race insurance - over £700 a year! Screw that. Spent £150 on 'land anchors' and locks which i drilled into the garage wall and bought a single speed with the leftovers!!!!! Ill take my chances as they would need to knock down half my house to get 3 of my bikes away now. Next years insurance money will buy another nice set of wheels, another hope BB, a kmc sl ti gold chain, a dura ace cassette, a machined seat clamp and stem spacers plus a pair of sidi genius 5.1 shoes in white. Ill take my chances. 
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bfergie
Reged: 19/04/2008
Posts: 3653
Loc: Sticks ,Scotlandshire
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Bigold can I have all the stuff you are replacing on your bikes please???
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I now accept PAYPAL!!!!
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bigoldsideofham
Reged: 23/12/2007
Posts: 2288
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Aaah, we do like the same gear dont we??? Im afraid that will be e-bay specials my friend. I like to get a little back! 
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slowhand
Reged: 11/12/2006
Posts: 882
Loc: Leeds, West Yorkshire
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Unfortunately, from what I understand I have to insure it as I'm buying it on cyclescheme. Also, when I use it for commuting it will not be as secure as when stored at home, unless I can convince my office manager to let me bring it inside.
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"There's a way of transferring funds that is even faster than electronic banking. It's called marriage."
James Holt McGavran
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bigoldsideofham
Reged: 23/12/2007
Posts: 2288
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Its not compulsory but you are liable for the cost if its stolen. I find that interesting as it is technically a work vehicle! (see below)
Who actually owns the bike? What happens if it is stolen?
The bike and goods remain the property of your employer until the hire period finishes, unless your employer uses finance; in this case the finance company will own the bikes during the hire period. At the end of the hire period you may be given the opportunity to buy the bike for a fair market value payment. If the bike gets stolen you will be liable for any outstanding monies, so it's very important to make sure the bike is insured. You can obtain safety equipment, including Home Office-approved 'Sold Secure' D-locks and cable locks, as part of the scheme
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slowhand
Reged: 11/12/2006
Posts: 882
Loc: Leeds, West Yorkshire
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Exactly. I've only found a couple of schemes, Cycleguared and E&L (I've discounted Endsleigh as they state they replace the bike, and I want a scheme that will let me choose the replacement).
How competitive is getting insurance through CTC or British Cycling membership?
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"There's a way of transferring funds that is even faster than electronic banking. It's called marriage."
James Holt McGavran
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Stigofthedump
Reged: 25/11/2008
Posts: 2
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I looked into insurance and the cost was prohibitive. However the smallprint was worse. The bikes needed to be locked to a secure point using a recommended lock (minimum price around £100). It is hard to see how they would ever be stolen under these circumstances.
I decided to spend the money on security, so im with slowhand.
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Holmes
Reged: 08/10/2008
Posts: 41
Loc: Doncaster
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noticed something on evens website regards insurance. it said you can pick and choose what you want. might be worth having a look at that.??
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