Retro bike insurance

[Tsundere]

Anyone here insure their bikes separately from home and contents insurance? Do you insure against accidental damage etc? How much should insurance cost? I'm particularly interested in insurance for rare and therefore irreplaceable retro bikes, I mean how can you put a value on something you can't replace?

I've had a couple of bikes stolen in the past and neither was covered by my home insurance, I'm about to make a purchase that's forcing me to reconsider, any advice or pointers appreciated.

 

[Magpiegifts]

Ive been thinking exactly the same. As bikes are regularly stolen its probably not super cheap!

 

[d8mok]

Simply as named items with agreed values on house insurance. Pick your bike value and pay the premium. Same as modern stuff.

 

[BerthaPog]

I have the bikes (modern and retro) separate from home contents (bikes via Bikmo).

If doing it through your home contents insurance, check the small print really carefully - I had a number of bikes all under the “named item” minimum value, so we’re not named, but together totalled up to quite a lot more, this combined with an “outbuildings limit, and a garage with power and light not physically attached to the house (~15ft away) counted as an outbuilding, Insurance company insisted they go back to the recordings of the call when I arranged the insurance several years previously, where I had clearly explained my requirements.

Apparently, I couldn’t expect the person on the phone selling the insurance to know the details of the policy exclusions.

Whilst they paid out the full claim eventually, call recordings have there uses, the whole process of dealing with the claim significantly added to the “impact” of the theft. The only good bit of the process being the call with “Wheelies” to discuss replacements, sent them pictures and descriptions of what was stolen…”we’ll tell them to pay you the claim, as we cannot supply similar replacements”.

 

[Tsundere]

I have the bikes (modern and retro) separate from home contents (bikes via Bikmo).

If doing it through your home contents insurance, check the small print really carefully - I had a number of bikes all under the “named item” minimum value, so we’re not named, but together totalled up to quite a lot more, this combined with an “outbuildings limit, and a garage with power and light not physically attached to the house (~15ft away) counted as an outbuilding, Insurance company insisted they go back to the recordings of the call when I arranged the insurance several years previously, where I had clearly explained my requirements.

Apparently, I couldn’t expect the person on the phone selling the insurance to know the details of the policy exclusions.

Whilst they paid out the full claim eventually, call recordings have there uses, the whole process of dealing with the claim significantly added to the “impact” of the theft. The only good bit of the process being the call with “Wheelies” to discuss replacements, sent them pictures and descriptions of what was stolen…”we’ll tell them to pay you the claim, as we cannot supply similar replacements”.

Thank you for the info, I had similar issues claiming via home insurance when a bike was stolen from outside work, will definitely take a look at Bikmo.

 

[player]

Simply as named items with agreed values on house insurance. Pick your bike value and pay the premium. Same as modern stuff.

But keep an eye on the small print for their max value on bicycles.

 

[BerthaPog]

But keep an eye on the small print for their max value on bicycles.

Both individual value and total.

 

[d8mok]

But keep an eye on the small print for their max value on bicycles.

My latest policy is Max value is £5k per bike and 10k total which are named. Any bike under £1500 is covered without being named but counts towards £10k max in a claim. Covered away from home and accidental damage. No receipts need to be provided as you simply state the value and pay the premium same as other named items such as watches , jewellery etc.

 

[Joe*Pro]

Has anyone also successfully used CCTV (like a baby monitor type) to either: prevent / catch in the act / or evidence theft. At present in London, I feel like it’s better to try prevent the theft than insure it, when it takes 5 years to find the parts. Whilst agree with all above, the money back would be nice consolation.

i.e would/do the the police bother to come if you call them mid burglary ?

 

[The History Man]

My latest policy is Max value is £5k per bike and 10k total which are named. Any bike under £1500 is covered without being named but counts towards £10k max in a claim. Covered away from home and accidental damage. No receipts need to be provided as you simply state the value and pay the premium same as other named items such as watches , jewellery etc.

This. Mine paid out 5k after photos sent and independent valuation for two retrobikes. Hand built fillet brazed frame plus Whyte and proper builds. Based on new for old.

If anybody sees them……