Insurance

Wheely GR8

Howdy , I'm currently looking at insurance for my new bike and wondering if a stand alone policy is the way to go or if I can add my bike to the house policy?

Lusk Doyle

Wheely GR8 wrote: »

Howdy , I'm currently looking at insurance for my new bike and wondering if a stand alone policy is the way to go or if I can add my bike to the house policy?

Bikes are covered on household policies as standard under contents but only up to a certain limit. Check your policy.

smacl

You may also want to look at http://cyclesure.ie/ I have'n't used them myself yet, so can't say much more on how good or bad they are, but there is/was a 10% discount if you join the facebook leisure cycling Ireland group.

cdaly_

Lusk Doyle wrote: »

Bikes are covered on household policies as standard under contents but only up to a certain limit. Check your policy.

The usual standard cover is very low, something like €200 or less. I have mine insured 'all risks' up to €800 for about €10 pa. Interestingly, the premium went up a lot when I asked to up the cover to €900.

Vélo

Lusk Doyle wrote: »

Bikes are covered on household policies as standard under contents but only up to a certain limit. Check your policy.

Not with all insurers. Some companies only give cover for bikes if they are specified on the policy and normally with an extra charge.

funkyjebus

cdaly_ wrote: »

Lusk Doyle wrote: »

Bikes are covered on household policies as standard under contents but only up to a certain limit. Check your policy.

The usual standard cover is very low, something like €200 or less. I have mine insured 'all risks' up to €800 for about €10 pa. Interestingly, the premium went up a lot when I asked to up the cover to €900.

A standard household policy will usually offer a far higher around once you specify the bike, normally €2k with whatever your chosen excess is. (250 - 650 normally). This will cover the bike for theft whilst away from the insured property.

If your household insurer cant do this, then its tome to move as its standard cover.

A specific bike insurance policy offers more cover (damage as a result of crash, etc) but offers no value as you could self insure in 5 years with the premium they charge. They also, iirc have a lot of conditions surrounding what lock can be used, whi.ch your home insurer wont

doozerie

Our house insurance has been with RSA for years now and they provide cover for bikes at a cost of in or around €6 per €100 value insured, so the premium for a bike insured for €1,000 is in the region of €60. The excess on our policy is €100 for bikes valued up to €1,250 and €250 for insured values above that.

It can be tricky getting brokers or providers to give real details of what that cover includes, and I've had different answers to that question over time, but my current understanding is that it covers loss of, or damage to, the bike here or abroad. As you'd expect, the bike is not covered while racing on it. It's definitely worth checking on the details of what exactly is covered though if you consider adding a bike to your policy.

Wheely GR8

I got a quote of €160 to insure a €2000 bike against theft on cyclesure ,maybe if they done some deal for my three bikes it might be worth it.

Lusk Doyle

Vélo wrote: »

Not with all insurers. Some companies only give cover for bikes if they are specified on the policy and normally with an extra charge.

I work in insurance and have never seen that. PM which company you speak of.

funkyjebus

Lusk Doyle wrote: »

Vélo wrote: »

Not with all insurers. Some companies only give cover for bikes if they are specified on the policy and normally with an extra charge.

I work in insurance and have never seen that. PM which company you speak of.

Im an insurance broker and have seen this many times. If a policy has a low single article limit, you will need to specify the bike and pay an additional premium. Should't be much. Some companies will require any bicycle to be named if you want cover outside of the home.

Vélo

Lusk Doyle wrote: »

I work in insurance and have never seen that. PM which company you speak of.

I'm a Broker also. I don't do insurance myslef (I do the accounts) but I know from getting quotes for my home insurance that some companies didn't quote for bikes and the ones that did had an additional premium.

There was also different cover, where some might ony cover the bikes while stolen from the house/shed and others gave cover away from the home.

I used to have my home insurance with Prestige because at one time they covered bikes outside of the home and their rates used to be very good.