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Insurance on Bicycles  

128 members have voted

  1. 1. Do you insure your bicycle?

    • Yes
      87
    • No
      40


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My 2 bikes are insured for theft from my house only, at the total price I paid for them (both are built up). My insurer has pictures and serial numbers included as part of the full inventory I update them on regularly. For R40k worth of bikes, I pay something like R45/month.

 

I consider insurance prudent only for events completely outside of my control. Breaking a frame while riding doesn't fall in that category...

Jeepers, please can I ask you send me a PM with your insurers details. I was looking into this yesterday. My bike is comprehensively insured. Included are my shoes, Garmin, Thule Euroway, Prescription Sunnies and its costing me R379/month. It is through Cyclesure.

I take the hit because, once your bike is worth more than 5k, I couldn't replace it myself within a month... So I insure, and have already used it! Had to get my race wheels replaced after a bad road caused some damage...

 

For me, the peace of mind knowing that if you happens on the bike, med aid covers me, and insurance, everything else...

 

Too many variables onna road bike... Other riders, drivers, theft, bad roads, etc etc etc... For me, makes sense..

Car is different. More risk of an accident.. I think a road bike is also more risk of an accident

 

I think Cyclesure is expensive and it annoys me that my insurer uses them.. I would my bike simply insured from theft at home.. Everywhere else I keep a beady eye on it

 

Edited by Stretch

I use I-cycle and find them really good. I pay around 260 per month for a total insured value of about 50k.

 

Have had a claim settled for race Wheelset, and did have a bit of run around, but it was settled and I love my cosmics!

 

They also seem to have very few loopholes, cover you in rcaes and overseas, and this includes personal liability for quite a substantial amount... I couldn't find a major leg for them to stand on to deny a claim, considering most of the cycle insurance options.

Exactly why I started this poll.

 

Wouldn't it be more expensive to replace them if they were stolen?

 

What about your car? Your phone and laptop and crap?

 

I don't mean just you, but this confudles the heck out of me.

 

The way I look at it - I can only ride one bike at a time so theoretically only one will be damaged at a time. I ended up with Cyclesure that only covered me for one bike at a time, except for theft out of my home. My bike insurance was costing over R1k per month which I didn't think was worth it (my SS and retro bike as well as my sons Stumpjumper are not insured).

 

There is more of a chance of crashing than getting the bike stolen. Even in a crash generally only a few items are damaged beyond repair and claiming through insurance you end up claiming for superficial scratches that do not necessarily warrant the part being replaced. I have only had one crash serious enough for a frame to be replaced in 6 years. My groupset on my Venge is a 10sp Red which is 3yrs old and it would be insured for the cost of a new groupset whereas in reality I would probably just replace the parts with something either 2nd hand or on sale.

 

I also live in a secured complex which has a very low crime rate so the chances of me being broken into and all 3 bikes being stolen are exceptionally low.

 

This is my rationale for not insuring my bikes.

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