Bike insured by your home insurance?

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simonineaston
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Bike insured by your home insurance?

Postby simonineaston » 8 Jan 2021, 9:24am

A heads-up for folks who expect that their bike/s are covered under the terms of the household conents insurance. In this short consumer-watchdog piece, we learn that insurers may not consider the cycles covered unless sepcifically named.
byyeee,
SiE

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mjr
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Re: Bike insured by your home insurance?

Postby mjr » 8 Jan 2021, 9:29am

The linked item is more about comparison sites failing to pass details on to insurer sites. Check before you click buy.
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Audax67
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Re: Bike insured by your home insurance?

Postby Audax67 » 8 Jan 2021, 11:14am

Good question. Mine are insured via my FFCT membership but it's worth checking. It's also worth checking for "unless otherwise insured" clauses.

I wonder what happens if you have two policies which include that proviso. Do they cancel each other out so that neither indemnifies you? :o
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PH
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Re: Bike insured by your home insurance?

Postby PH » 8 Jan 2021, 12:00pm

Audax67 wrote:I wonder what happens if you have two policies which include that proviso. Do they cancel each other out so that neither indemnifies you? :o

According to an ex-broker friend (Before all things were online) you claim from the most appropriate or specific, declare the other/s, one insurer handles the claim and counter claims from the other/s if appropriate. Though apparently they usually don't for anything other than a huge claim, expecting the same in return and for it to average out.

tatanab
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Re: Bike insured by your home insurance?

Postby tatanab » 8 Jan 2021, 12:36pm

The answer is to use a broker who will find an appropriate policy.

My broker has me with AXA with pedal cycles declared as named valuables. Much like you might name a Rolex or granny's heirloom diamonds.

Oldjohnw
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Re: Bike insured by your home insurance?

Postby Oldjohnw » 8 Jan 2021, 1:04pm

Mine is as a specified item.
John

rmurphy195
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Re: Bike insured by your home insurance?

Postby rmurphy195 » 12 Jan 2021, 8:19pm

Try TSB for house/bike insurance. The automatic cover for bikes on your house insurance disappered years ago, along with automatic cover for mobile phones, and for much the same reason - high incidences of fraudulent claims from people getting upgrades at the insurance compani expense, at a time when bikes became more and more fashionable in the "you must have this year's model" sense.

I never use comparison sites, did try it once when I was trying to get insurance for a classic car a few years back. My car insurer at the time wouldn't touch classic cars, 2 comparison web sites gave several options for it - both had at the top of thier lists quotes from - my current insurer! Waste of time. A few colleagues (in a financial institutuion) referred to one of them as "Confused - you will be!"
Brompton, Condor Heritage, creaky joints and thinning white (formerly grey) hair
""You know you're getting old when it's easier to ride a bike than to get on and off it" - quote from observant jogger !

pete75
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Re: Bike insured by your home insurance?

Postby pete75 » 12 Jan 2021, 9:05pm

Our home insurance policy covers a bike worth under £1000 automatically and any over that if individually listed. UK and European use though I guess the latter will go now.

pete75
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Re: Bike insured by your home insurance?

Postby pete75 » 12 Jan 2021, 9:49pm

Audax67 wrote:Good question. Mine are insured via my FFCT membership but it's worth checking. It's also worth checking for "unless otherwise insured" clauses.

I wonder what happens if you have two policies which include that proviso. Do they cancel each other out so that neither indemnifies you? :o


Given what some insurance companies are like very probably.