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Bike insurance specifics
#1
I know we've had insurance threads before, but I can't find them to add to

For people who have built their own bikes - are they insured for the amount you spent on them or for the RRP of the components added up?

Blackers - what is the name of the broker you've recommend in the past?  I have annoyingly specific circumstances as I live quite close to a river  Sad
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#2
just renewed my house insurance  and added my bike as a named item for the ammount it would cost to replace. This was with Sainsburys insurance.
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#3
Believe the brokers Blackers recommends is Lark Insurance

I like Mark above have mine on my house insurance and that's with Aviva. I'm also near a water course so have similar issues to yourself.
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#4
It was Lark but they went downhill. they wouldn't provide any cover for bikes locked in a van which just annoyed me.
I now use marks and spencers. covered for up to 4k per bike automatically and away from the home also. the policy reads quite well and cover looks to be very wide.
In the event of a loss you need to be able to prove ownership and value. so keep receipts and take lots of photos. some with you riding it and some which are obviously in your home. you could also get your LBS to do a valuation in writing if they are helpful people.
the river thing may be a problem. call centre type insurance operations don't really have flexibility and will run a mile from areas at risk of flood. so you may be better off going in to see a high street broker. you could try Lark. they will certainly try and give you what you need.
Otherwise you are best using an online quote website comparison thing and then phoning he best few to discuss. one of them will be good for you
don't forget cashback too. I got about 40 quid back through quidco.
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#5
Thanks guys.  So by "amount it would cost to replace" do you mean RRP of all components?  When I add all that up my current house insurance refuse to cover them, hence the question.  M&S won't cover me either unfortunately due to the river nearby
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#6
I have the same river problem. I was told if it hadn't flooded in 10 years I could have contents insurance. The building is only 7 years old. I ended up going the bike specific route. It costs a feck load but there is no quibble about them not paying out. At least that's the way it came across.
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#7
"Blackers" Wrote:It was Lark but they went downhill. they wouldn't provide any cover for bikes locked in a van which just annoyed me.
I now use marks and spencers. covered for up to 4k per bike automatically and away from the home also. the policy reads quite well and cover looks to be very wide.
In the event of a loss you need to be able to prove ownership and value. so keep receipts and take lots of photos. some with you riding it and some which are obviously in your home. you could also get your LBS to do a valuation in writing if they are helpful people.
the river thing may be a problem. call centre type insurance operations don't really have flexibility and will run a mile from areas at risk of flood. so you may be better off going in to see a high street broker. you could try Lark. they will certainly try and give you what you need.
Otherwise you are best using an online quote website comparison thing and then phoning he best few to discuss. one of them will be good for you
don't forget cashback too. I got about 40 quid back through quidco.

How do you prove value if you bought anything second hand?  Do they take online prices as evidence?

Might be in with a shot of M&S covering me as they now ask that there has been no flooding rather than if you live within 250m of a river
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#8
all home contents policies these days provide cover on a "new for old" basis. so it is the cost to replace with a new bike of the same spec. I would go with rrp and then argue about it if you ever have to claim.
the benefit of the m and s policy is its 4k per bike no questions asked.
I've never read a good thing about bike specific policies. I would use that as a last resort. a major household insurer will cover. you just need to find out who. ask your neighbours who they use. that should save you some time.
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#9
The problem there is 2 bikes with RRP well over that threshold, however when I take into account how much it would actually cost me to replace them it comes in just under.

I'm quite impressed actually - the quote process is pretty simple and the quote is competitive (cheaper than what I pay now when you include Quidco).  Just used go compare and with my details 0 of 82 insurers would cover me  Big Grin
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#10
I renewed my insurance with M&S changing away from The AA. It's a very good policy, very good price lower than The AA's renewal and with csh back from Quidco. Can't go wrong imho, and like blackers i'm an insurance geek.
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