Inn-sewer-ants: to insure or not to insure?

[jawj]

Ah yes, the fine denizens of Retro Bike will be just the guys to ask...

Do you bother insuring your retro ride? A flippant question but with a serious point.

I have a couple of 'modern' bikes that would be costly to replace and so, given the high numbers of bikes thieved by scum in London, I insure them.

But what of my old and delicious Kona? Sure, it's worth a few bob, but is it worth insuring? I'd get some cash if it were stolen but there's no way I could ever replace it so the insurance money would be a small consolation.

What do (and would) you do...?

 

[Pace]

Was thinking about this the other day.

I've never insured my bikes, but have always been able to keep them in the house. Now my collection has grown I've had to move them out to less secure accomodation. I'd been thinking that I really should insure them all - not just the modern ones.

Out of interest who do you insure with?

 

[jawj]

I use Pavillion Insurance who I found out about through British Cycling. They're premiums are less than 10% of the value of the bike (depending where you are...) and they seem geared up to deal specifically with bikes, which can't be bad. They're here:

http://www.bcbikeinsurance.co.uk/home.asp

But the question remains: would the money make me feel ANY better if an irreplaceable bike was taken...?

 

[andrewl]

But the question remains: would the money make me feel ANY better if an irreplaceable bike was taken...?

Maybe not, but it may ease the pain if you found something else which fitted the bill later.

 

[Pace]

That's pretty much what I was thinking - the pain would be double if you had a whole in your pocket and the bike was gone. At least with insurance you have some cash to go and buy some new toys....

 

[jawj]

You are both, of course, right, but it would kinda be like recieving compensation for a loved one lost - it just wouldn't take the pain away...

 

[scant]

a good friend of mine had £8K worth of bikes nicked from his house end of summer 06. his dad was asleep upstairs. he had basic house insurance & got £500 back. needless to say hes still totally gutted.

if the bikes live in the house, garage, shed getting them insured for full price has minimal effect on your household preminium.

getting bikes insured outside of the house is considerably more expensive. IE if you leave it locked up outside uni/shops/railway station.

 

[kona kid]

I've always had problems getting household insurance to cover bikes
either they don' understand that a bike can be worth (a lot!) more than £500 - or that you only want cover for in the house/shed (where it spends most of its time, especially when it's cold and i've got a broken foot - kicked a door! )

so who do people use here for household insurance that covers 'proper' bikes?

 

[scant]

marks & spencer.

 

[kona kid]

M&S?! :shock: i'd have never thought they did insurance
thanks tho scant, shall try them when my current policy runs out, mean time i'll rely on the expensive floor mount, chains and not forgetting the £25 shed alarm