Bike insurance

[HelloVelo]

Hallo fellow hubbers. 

Could anyone please recommend a proper insurance company to insure my bike please? 

Your help wil be greatly appreciated. 

 

[Steady Spin]

Who insures your car and household?

[HelloVelo]

King price 

No comment

 

[mtbrider]

Morning. 

My bikes are with naked insurance underwritten by Hollard. Only had good service from them and their app is so easy to use. 

Good luck finding the right one for you. 

[floatfox]

I added my bike on to my King Price insurance, and  I had to claim after having the bike insured for about a year. The claim was paid out and settled in 8 days. I am super happy with King Price bike insurance. 

[Dappere]

11 hours ago, HelloVelo said:

Hallo fellow hubbers. 

Could anyone please recommend a proper insurance company to insure my bike please? 

Your help wil be greatly appreciated. 

 

I prefer to get standalone bicycle insurance, as oppose to insuring my bikes under home and contents. 

You could also checkout MiWay or JaSure, both offer comprehensive bicycle insurance.

[Dgas]

I use Garrun insurance. They are bike specific and understand the different bits that make up a bike. Have had very good service from them. Hit a pothole with my deep section carbon wheels, replaced within 2 weeks. 

[The Ouzo]

2 hours ago, Dappere said:

I prefer to get standalone bicycle insurance, as oppose to insuring my bikes under home and contents. 

You could also checkout MiWay or JaSure, both offer comprehensive bicycle insurance.

any specific reason why you prefer standalone bike insurance ?

[CdT85]

I'm currently with Hollard. Best premium I could get for my bike. 

Had to claim a new rear triangle shortly after joining. Payed out my claim in very quick. 

Can't complain about the service

[MajG]

15 minutes ago, ouzo said:

any specific reason why you prefer standalone bike insurance ?

Assuming that bike related Claims has higher likelihood of occurring than household,  and therefore minimize the increases on all insured items when it comes to the annual increase review post a claim.

Perhaps bicycle specific insurance pays out quicker?not sure

 

I'm with Naked Insurance and they offer great service with my recent claim

 

[Dappere]

1 hour ago, ouzo said:

any specific reason why you prefer standalone bike insurance ?

There are quite a few reasons. Which I am sure some hubbers could dispute and mention that it could also be done on home and content, but I don’t entirely agree with that. 
 

I choose stand-alone: 

your bike is covered for theft at home and away from home. 

you are covered for accidental and malicious damage, away from home and at home. 

you are covered for outlier scenarios, like driving into your garage and forgetting your bike is on the roof of your car. This happens more than most tend to admit. 

at claims stage, you generally get more options and not just a cash settlement. As the product is specifically designed for bicycles and their usage criteria. 

you generally get discount on adding multiple bikes on a policy. 
 

Ultimately the decision remains yours, but giving the investment made on bicycles I choose the peace of mind which is given to me by a stand alone bicycle insurance product. At the end of the day, that is essentially insurance - peace of mind. 
 

happy to answer any more questions? 

[ChrisF]

9 minutes ago, Dappere said:

There are quite a few reasons. Which I am sure some hubbers could dispute and mention that it could also be done on home and content, but I don’t entirely agree with that. 
 

I choose stand-alone: 

your bike is covered for theft at home and away from home.  - Santam covers my bike both at home and out on the trails, even when stolen from the car between home and the trails.

you are covered for accidental and malicious damage, away from home and at home. - as above

you are covered for outlier scenarios, like driving into your garage and forgetting your bike is on the roof of your car. This happens more than most tend to admit. - full comprehensive cover, even if damaged when the idiots at Giant lets the bike fall over and the paint/frame is damaged. (dont even ask .... thankfully Santam was ready to help out)

at claims stage, you generally get more options and not just a cash settlement. As the product is specifically designed for bicycles and their usage criteria. - have not had to try out options, so cant comment on this one ....

you generally get discount on adding multiple bikes on a policy.  exactly the main benefit of adding the bikes to my larger short term protfolio - HUGE discounts.
 

Ultimately the decision remains yours, but giving the investment made on bicycles I choose the peace of mind which is given to me by a stand alone bicycle insurance product. At the end of the day, that is essentially insurance - peace of mind. 
 

happy to answer any more questions? 

 

Insurance certainly is a very weird topic, and everybody is entitled to their views on this.  Personal experiences certainly "shapes" our perceptions and thoughts around insurance ....

 

PERSONALLY - it comes down to a GOOD broker.  Over the last 35 years I have had some "interesting" experiences with various short term insurers .... if you are "alone" (no broker) then this can be an unpleasant minefield - even with Santam.  Go via a GOOD broker and most insurance houses will deliver good service and cover.

 

 

 

So my only two bit advise to those new to insurance:

- careful of those insurance companies that dont use outside brokers .... you are out in the cold when the claim goes sideways ....

- before getting insurance for either "out of house" or "certain times only" .... READ the stolen bikes threads, SEE how many bikes are stolen from private residences ..... there is a reason these types of insurance is cheaper, because they have done the maths, MUCH LESS chance of them having to pay out !!!

[The Ouzo]

4 minutes ago, ChrisF said:

 

Insurance certainly is a very weird topic, and everybody is entitled to their views on this.  Personal experiences certainly "shapes" our perceptions and thoughts around insurance ....

 

PERSONALLY - it comes down to a GOOD broker.  Over the last 35 years I have had some "interesting" experiences with various short term insurers .... if you are "alone" (no broker) then this can be an unpleasant minefield - even with Santam.  Go via a GOOD broker and most insurance houses will deliver good service and cover.

 

 

 

So my only two bit advise to those new to insurance:

- careful of those insurance companies that dont use outside brokers .... you are out in the cold when the claim goes sideways ....

- before getting insurance for either "out of house" or "certain times only" .... READ the stolen bikes threads, SEE how many bikes are stolen from private residences ..... there is a reason these types of insurance is cheaper, because they have done the maths, MUCH LESS chance of them having to pay out !!!

look I havent had any bicycle claims (touches wood) on my insurance, but I use one of the no broker insurance houses and have had no issues claiming for things. Laptops that suddenly die and are not economical to repair, like wise with my daughters iPad that mysteriously stopped working. Never been any issues.

My bikes are covered under Out and About all risk and in theory should be covered due to stupidity incidents like smashing them into a roof whilst ontop of a car, or theft from home or away.

 

 

But, as long as you have your items covered and are comfortable with your choice. For every good experience with a insurance house you will also find someone that has had a bad experience, just make sure you understand what you are covered for.

[WR 1.0]

You can either add it to your current Household/ Contents policy as a specified item (does seem like you are not too happy with KP else you could probably use their R1 option?)

alternatively, use a bicycle specific underwriter ( Cyclesure) or

Use a broker that knows about cycling (Galileo, Garrun, TIG, etc)

Use one of the "newer" app only Insurers ( Naked, Pineapple, JaSure) - they are all covered by the biggest Insurers in the country ( Hollard, Santam, OMI, etc)

but yes, a Broker does give you a bit more bargaining power with the Insurers, either in getting a better premium or when it comes to claim stage.

 

Remember, wear and tear is never covered, make sure you understand if there are any specific requirements ( locked up with a specific level of padlock) and if you are covered when doing races, etc, ect

 

( use the search option, there's another tread with all the answers you might need - this question pops up every now and then)

[cadenceblur]

11 hours ago, MajG said:

Assuming that bike related Claims has higher likelihood of occurring than household,  and therefore minimize the increases on all insured items when it comes to the annual increase review post a claim.

Perhaps bicycle specific insurance pays out quicker?not sure

 

I'm with Naked Insurance and they offer great service with my recent claim

 

My experience has not been that great on the whole. 

[MajG]

55 minutes ago, cadenceblur said:

My experience has not been that great on the whole. 

Do give more insight