Cyclesure.ie Gone any alternatives?

coach22

As the thread title states. Cyclesure.ie seem to be not taking on any business. I was hoping to take out insurance for the bike to go racing this year.

Are there any alternative companies to them out there offering race cover?

Alek

Bummer.

Cyclesure.ie will also be unable to renew existing policies beyond 31st January 2016 and policyholders will receive individual notification of this during January.

Does this mean that the insurance I've purchased in December (for a year) will end this month?

coach22

Alek wrote: »

Bummer.



Does this mean that the insurance I've purchased in December (for a year) will end this month?

Im not sure man. Maybe you will be covered. Probably best to contact them and see.

Quote from the website:

"With effect from 31st December 2015 Cyclesure.ie cannot offer any quotations or accept new customers. Cyclesure.ie will also be unable to renew existing policies beyond 31st January 2016 and policyholders will receive individual notification of this during January. We very much regret that we are unable to offer our policies at this time and hope that we will be back on-line later in 2016."

ThisRegard

That reads to me that they're winding down their book. No new business and existing policies will be let run their term, at which point there'll be no offers of renewal.

Alek

Tried to contact and...

A message that you sent could not be delivered to one or more of its
recipients. This is a permanent error. The following address(es) failed:

info@cyclesure.ie
Mailbox quota exceeded

smacl

Alek wrote: »

Tried to contact and...

They seem to be a spin off of cyclesure.co.uk (same branding), maybe try contacting them;

Phone: 0151 427 9529
Fax: 0151 494 4433
Email: NAC@butterworthspengler.co.uk
Web: http://specialistschemes.butterworthspengler.co.uk

Was looking at getting my own bike insured, so also interested in alternatives

CramCycle

Putting the bike on the home insurance is always worth a try if you have it, would be cheaper than cyclesure, although, IMO, many house insurance policies are geared in such a way that its only worth claiming if you lose everything as the premiums pretty much jump to recover one off losses within 4 years or so.

Derrydingle

CramCycle wrote:

Putting the bike on the home insurance is always worth a try if you have it, would be cheaper than cyclesure, although, IMO, many house insurance policies are geared in such a way that its only worth claiming if you lose everything as the premiums pretty much jump to recover one off losses within 4 years or so.

I don't think that home insurance would cover racing

CramCycle

Derrydingle wrote: »

I don't think that home insurance would cover racing

Apologies, thought it was just theft

nilhg

Derrydingle wrote: »

I don't think that home insurance would cover racing

I didn't either till I broke my frame and rear wheel in a club league race, FBD paid up with no issues as regards to the racing element (I did tell them upfront) and insured my new bike with no change in conditions. The bike was named as an all risks extra on the policy. Other companies surely will have a different way of looking at this so you have to ask the question and be satisfied that you have the cover you need.

CramCycle

nilhg wrote: »

Other companies surely will have a different way of looking at this so you have to ask the question and be satisfied that you have the cover you need.

I may be changing my insurer as the response I got was not as nice.

Delboy007

Alek wrote: »

Tried to contact and...

Hi

I emailed [EMAIL="'NAC@butterworthspengler.co.uk'"]'NAC@butterworthspengler.co.uk'[/EMAIL] as I took out a policy in Nov and got the below

'Thank you for your email and I would confirm your Cyclesure policy numbered xxxxxx is still ‘live’ up to renewal date in November 2016 and a letter will be sent to you shortly regarding cover under the Cyclesure scheme.

Unfortunately from 1st January 2016 we are no longer in a position to offer cover under the Cyclesure IE policy for new business.'

So I gues I will have to find a new place to insure my bike next year.

coach22

I live in rented accommodation so House Insurance isn't an option for me.

The more I think about it I think its time for n+1 for me.

Don't want to risk the good carbon bike this year so I'm on the lookout for an aluminium racer now!

kenmc

coach22 wrote: »

I live in rented accommodation so House Insurance isn't an option for me.

The more I think about it I think its time for n+1 for me.

Don't want to risk the good carbon bike this year so I'm on the lookout for an aluminium racer now!

fbd do contents only insurance, including bike cover. I added cargo bike to mine as it's 3k i don't really want to have to pay out to replace if worst comes to worst. includes theft or damage anywhere, not just in the home.

godtabh

coach22 wrote: »

I live in rented accommodation so House Insurance isn't an option for me.

The more I think about it I think its time for n+1 for me.

Don't want to risk the good carbon bike this year so I'm on the lookout for an aluminium racer now!

Not bike related but as a renter you should still have house insurance. Its just for your contents. Probably costs less than €100 (not including the bike).

coach22

kenmc wrote: »

fbd do contents only insurance, including bike cover. I added cargo bike to mine as it's 3k i don't really want to have to pay out to replace if worst comes to worst. includes theft or damage anywhere, not just in the home.

Cheers I'll look in to this so. Would be great if they would cover the racing aspect

Edit. Rang FBD there and they wouldn't offer me contents insurance as I have been living in the apartment for 1 year and not taken it out already! I hate insurance companies!

Macy0161

Can I just ask whether the bike claims people have made on their house insurance affected their premium?

When I looked into putting a phone on, whilst it was much cheaper than specific insurance, the effect on premium/ loss of no claims was much more than specific insurance (actually nearer the actual value of the phone!) should I have had to claim. I know a bike would be higher value, but still may negate some of the saving.

Only took out cyclesure in November, so good to read I am still covered anyway!

nilhg

Macy0161 wrote: »

Can I just ask whether the bike claims people have made on their house insurance affected their premium?

When I looked into putting a phone on, whilst it was much cheaper than specific insurance, the effect on premium/ loss of no claims was much more than specific insurance (actually nearer the actual value of the phone!) should I have had to claim. I know a bike would be higher value, but still may negate some of the saving.

Only took out cyclesure in November, so good to read I am still covered anyway!

I'll tell you next March.....

I've all my insurance with FBD, house, farm, car, van and all the farm machinery so in the greater scheme of things the claim would be relatively small, I doubt it'll have a huge effect on my premium. I had a claim a few years ago for a laptop which was stolen in a breakin at my house, I don't think it made any real difference to the premium at next renewal.

Qualitymark

I wonder would The Big Switch do a mass insurance seek for bikes (against theft and vandalism, rather than racing.)

aFlabbyPanda

I claimed for my bike on the house insurance and the premium almost doubled. Now I have the bike insured with bicycleinsurance.ie

wirelessdude01

TopSideControl wrote:

I claimed for my bike on the house insurance and the premium almost doubled. Now I have the bike insured with bicycleinsurance.ie

Do they cover racing accidents?

Inquitus

wirelessdude01 wrote: »

Do they cover racing accidents?

It seems they cover all accident damage, there is no mention of racing or competition as an exclusion in the policy doc. I put in a 3k bike price and it came in at 250 a year, they only insure bikes bought in 2014/15/16.

aFlabbyPanda

wirelessdude01 wrote: »

Do they cover racing accidents?

no idea since I don't race.

Welshkev

Has anybody found any specific cover for racing? Don't want to go through the hassle of changing house insurance etc. - would just like specific insurance to cover me whilst racing just like Cyclesure did.

Cheers

Welshkev

Has anybody found any specific cover for racing? Don't want to go through the hassle of changing house insurance etc. - would just like specific insurance to cover me whilst racing just like Cyclesure did.

Cheers

bbolger

Got my ButterWorthSpengler email this morn... will switch to http://bicycleinsurance.ie so.
Nice they have a monthly payment option.

Inquitus wrote: »

It seems they cover all accident damage, there is no mention of racing or competition as an exclusion in the policy doc. I put in a 3k bike price and it came in at 250 a year, they only insure bikes bought in 2014/15/16.

I also like that they have a Sonic Boom clause in terms of what they won't cover...:)

Don't go too fast!

Alek

Is that only for 0-3 year old bicycles?

Leroy42

Is racing not covered by CI insurance?

bbolger

Leroy42 wrote: »

Is racing not covered by CI insurance?

It doesn't cover damage to your bike.

Derrydingle

So is there no one who covers bike damage in a race anymore?

Leroy42

bbolger wrote: »

It doesn't cover damage to your bike.

Right, so just medical expenses then. Thanks, I wasn't sure of that

Welshkev

Derrydingle wrote: »

So is there no one who covers bike damage in a race anymore?

Bicycleinsurance.ie confirmed to me they cover racing

Delboy007

But if you have a CI policy does this not cover damage to your bike in racing or club spin

Stevieg2009

Delboy007 wrote: »

But if you have a CI policy does this not cover damage to your bike in racing or club spin

Don't think bikes are covered

Beasty

CI covers personal accident and public liability, not bike damage. There is some optional extra insurance you can get via CI but I'm not sure if that would cover damage to bikes when racing. Even if it does I would imagine premiums would be quite high given the risks involved.

mark11original

Only company I can find is bicycleinsurance.ie I have emailed several UK companies but they won't insure residents of Republic of Ireland

coach22

Bicycle insurance. Ie won't cover the bike if it wasn't bought in the Republic either.

I bought my bike online from England and they won't cover it

mark11original

You need to ask your LBS if they would supply a receipt for it if you need to claim - that way you'll be sorted.

xebec

mark11original wrote: »

You need to ask your LBS if they would supply a receipt for it if you need to claim - that way you'll be sorted.

For a bike not bought there? Also known as insurance fraud...

Lusk_Doyle

coach22 wrote: »

Bicycle insurance. Ie won't cover the bike if it wasn't bought in the Republic either.

I bought my bike online from England and they won't cover it

Did they explain why? This makes no sense.

Lusk_Doyle

mark11original wrote: »

You need to ask your LBS if they would supply a receipt for it if you need to claim - that way you'll be sorted.

Original purchase receipts are not necessary for the purpose of a claim. It's the current replacement cost that matters. The post above re bikes bought out of the country smells like horse manure to me. I'd ring back and try again with someone else following that or else challenge it with the person on the phone. Strikes me as it's someone smart in the ins co trying to make a name internally by limiting the companies exposure.

coach22

Didn't try argue on the phone because it is written in the terms and conditions. Don't think they will budge on this

Lusk_Doyle

coach22 wrote: »

Didn't try argue on the phone because it is written in the terms and conditions. Don't think they will budge on this

Can you give a link to this?

coach22

You can view the policy document on their webiste: http://bicycleinsurance.ie/Pages/ViewDoc.aspx?ptype=p&did=17

Conditions and Limitations:

2. This insurance only covers bicycles bought and used in the Republic of Ireland. Cover is extended to include use of the bicycle anywhere in the world up
to a maximum of 60 days in total, in any single 12 month period, subject to any repairs being carried out in the Republic of Ireland by repairers approved
by us.

3. The bicycle must be less than 36 months old, in full working order and in your possession when the policy is started, and you must have a valid proof
of purchase which must include the make and model of the bicycle and any accessories, the price you paid, date of purchase and the address of the
supplier.

bbolger

coach22 wrote: »

You can view the policy document on their webiste: http://bicycleinsurance.ie/Pages/ViewDoc.aspx?ptype=p&did=17

Conditions and Limitations:

2. This insurance only covers bicycles bought and used in the Republic of Ireland. Cover is extended to include use of the bicycle anywhere in the world up
to a maximum of 60 days in total, in any single 12 month period, subject to any repairs being carried out in the Republic of Ireland by repairers approved
by us.

3. The bicycle must be less than 36 months old, in full working order and in your possession when the policy is started, and you must have a valid proof
of purchase which must include the make and model of the bicycle and any accessories, the price you paid, date of purchase and the address of the
supplier.

****e!

bbolger

So other that home insurers, which have limits on coverage or else don't cover at all (depending on your provider), there are no other options for covering a race bike bought online?

Lusk_Doyle

bbolger wrote: »

So other that home insurers, which have limits on coverage or else don't cover at all (depending on your provider), there are no other options for covering a race bike bought online?

I think that I saw an ad not too long ago for bike insurance (full cover incl racing) from a UK based insurer. Lizzie Deignan To Be was on the ad for them. I think that it mentioned cover in Ireland also. Given that so many UK based insurers, and in particular, the many LLoyds syndicates, insure properties in ireland from the UK, it would stand to reason that there is one for bikes also.

Cycleplan is the one.

Their policy has several areas for the territorial limits (Uk, Europe or Worldwide) and doesn't state that you have to be a resident in Uk. Could be worth a phone call to check that out.

Beasty

I suspect that condition that a covered bike must be purchased in Ireland contravenes EU law, and in particular the free movement of goods. Effectively they cannot penalise you for purchasing something in another EU state. Alas it would probably take a legal challenge to get them to change anything.

Lusk_Doyle

Beasty wrote: »

I suspect that condition that a covered bike must be purchased in Ireland contravenes EU law, and in particular the free movement of goods. Effectively they cannot penalise you for purchasing something in another EU state. Alas it would probably take a legal challenge to get them to change anything.

"I was in my house when I purchased the bike on the internet."

Ergo, it was purchased in Ireland!

Edit: The policy is non-specific in regard to the geographical location relating to either the seller or buyer. They would be at risk of losing out in arbitration due to that.

eeeee

What about insuring a race bike you bought second hand? Any insurance solution for that?

Beasty

You really need to weigh up the benefits against the cost of insurance, recognising insurance companies are looking to make a profit out of you

I've had one racing accident in 6 years of racing. Damage to the bike was minimal - probably not much more than a likely excess on any policy. I've had 2 other relatively serious accidents - serious in terms of injuries received, although there was minimal damage to the bike

Looking back through the thread I see it cost Inquitus €250 for €3k of cover. I've got a number of bikes most of which have a "new" replacement value of well in excess of €3k. In fact the 3 accidents I mention above involved 3 different bikes. If I had taken out the cover mentioned by Inquitus for each bike over each of those 6 years (and my track and TT bikes would not have then been covered), the total cost would have been €4,500, and I would not have made a single claim - that's funded an extra set of wheels for me:pac: