Total Cycle Assist

[horizon]

Yes, I agree (with Reigncloud) that there are a couple of grey areas here: the risk of multiple losses in succession, the risk of a group of bikes being stolen at once and the role of home contents insurance. These alone are enough to keep this thread running for some while. I think I am going to limit my point to stand-alone insurance for one bike where I believe that I am on stronger ground!

[horizon]

I will not be insuring my bike. I never have either, though it could be argued it's a possession and therefore covered by household insurance, but it's not specifically covered.

If it gets stolen, that's it. Gone, and so is my cycling enjoyment. This cannot be insured against. Money cannot bring my bike back.

I'm at a stage of life that if I wanted a new bike, I would buy one. Cost no object? Within reason, no. I could afford it. I don't want a new bike, I love the one I have, so it's irreplaceable.

Money is a pointless argument for me. Insurance companies can only deal in money, not real value.

Yes, if you read the "Stolen" posts they are inevitably about sentimental loss and the insurance is often only a small comfort.

[Mick F]

Yes, if my bike was stolen, I'd be distraught.

I couldn't be made "less distraught" by them giving me £2,500.

[Reigncloud]

If it gets stolen, that's it. Gone, and so is my cycling enjoyment. This cannot be insured against. Money cannot bring my bike back.

I would (jokingly) argue it can. I worked in a bike shop that was broken into once. The owner ended up 'contributing to a person's costs' and ultimately recovered the bikes! He took the break in rather personally, despite the fact that it was only new bikes taken, not any customers'.

[fausto copy]

Years ago I was quoted £400 to insure our bikes and consequently didn't bother.

I figured it'd be cheaper in the long run not to pay the premium, on the basis that it was similar to the breakdown insurance offered to us when we refitted the kitchen.
We had 5 new electrical items, fridge, freezer, dishwasher, washing machine and cooker.
They quoted £30 per item or a special offer of £150 for all items (work that one out ).

In 17 years, I've had 2 new thermostats on the fridge and two sets of brushes on the washing machine and bought a new cooker. That lot cost me less than £1000.
If I'd have taken out the policy I would have given the insurance company over £2,500 and I bet they would have argued about my getting the ancient machines repaired too.
Mind you, the dishwasher's being a bit temperamental lately, so we're back to using the Marigolds.

Also, sad day today, as we finally disposed of our 18 year old telly.

[Cyclemate89]

Don't do it!!

It states that it provides treatment, bike repairs ect.

But is only says if there is a non fault claim. When I spoke to my solicitor he said that this is all provided by the insurers in any event. You get nothing from this. I tired to claim for a non fault accident and I was told that this was not covered.

In my opinion this is almost a scam.