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Insurance for multiple bikes?
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dazzmaster




Joined: 31 Aug 2016
Posts: 44

PostPosted: Sun Nov 25, 2018 9:49 pm    Post subject: Insurance for multiple bikes? Reply with quote

Hi All,

Can anyone recommend a decent bike insurance that would cover multiple bikes? I currently only insure my cheap commuter bike from theft/damage, while the proper tri and road bikes aren't covered.

Realistically, I only have one of them out at any one time, and am not that concerned about the theft from home - but more theft/damage on the road itself. Don't want to pay premium for coverage that I do not really need...

Any pointers/tips much appreciated - the last thread about this sort of stuff I could find here was from 2013 so (unless I missed something) perhaps also useful.

thanks!
d
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explorerJC




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PostPosted: Sun Nov 25, 2018 11:18 pm    Post subject: Reply with quote

apparently pedal cover is good...am about to look into it myself...
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awildt




Joined: 08 Apr 2011
Posts: 700
Location: sunny (!) NW

PostPosted: Mon Nov 26, 2018 9:33 am    Post subject: Reply with quote

Based on a recommendation from one of the threads on here I now use Barclays house insurance which covers any number of bikes up to 3500.

I know my partner's bike is worth more than that but not much more that we can't make up the difference. With 9 bikes in the house, this was the most cost-effective solution.
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hammerer




Joined: 19 Nov 2007
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PostPosted: Mon Nov 26, 2018 9:40 am    Post subject: Reply with quote

awildt wrote:
Based on a recommendation from one of the threads on here I now use Barclays house insurance which covers any number of bikes up to 3500.

I know my partner's bike is worth more than that but not much more that we can't make up the difference. With 9 bikes in the house, this was the most cost-effective solution.


I still use Barclays. I have 5k "garage cover" and as i only have bikes in there then its 5k for bikes which is just about enough.
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dazzmaster




Joined: 31 Aug 2016
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PostPosted: Mon Nov 26, 2018 11:01 am    Post subject: Reply with quote

Hmm, Barclays is closer to what I need/hope for.
With Pedal Cover you essentially still pay a premium for the subsequent bikes; I was hoping that there is a wider range of covers out there that essentially let you say "I want to cover for Xk and it can be split across multiple bikes".

Sadly Barclays is just a little bit too low against what I was hoping for (closer to 5k rather than 3.5)

Any other pointers?

thanks
d
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stenard




Joined: 04 Sep 2013
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PostPosted: Mon Nov 26, 2018 11:56 am    Post subject: Reply with quote

Why do you think you pay a premium for extra bikes with pedal cover?

I've been with them for a number of years now. House contents insurance was on a par with other policies anyway, and with pedal cover I got unlimited bikes up to 10k each, including travel, accidental damage, and damage in races/theft from transition areas.

Unless something has changed, in which case I need to reassess my cover, you don't even have to tell them in advance what bikes you have if they are under 10k, so I can't see how they can charge more for subsequent bikes.

EDIT - their website still specifically states "we don't charge per bike".
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fat buddha




Joined: 13 Jul 2004
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PostPosted: Mon Nov 26, 2018 12:01 pm    Post subject: Reply with quote

stenard wrote:
Why do you think you pay a premium for extra bikes with pedal cover?

I've been with them for a number of years now. House contents insurance was on a par with other policies anyway, and with pedal cover I got unlimited bikes up to 10k each, including travel, accidental damage, and damage in races/theft from transition areas.

Unless something has changed, in which case I need to reassess my cover, you don't even have to tell them in advance what bikes you have if they are under 10k, so I can't see how they can charge more for subsequent bikes.

EDIT - their website still specifically states "we don't charge per bike".


exactly my understanding with Pedalcover - been with them more or less since they started and for a policy that covers household, building and unlimited bikes (provided max is 10K per bike) then it's very difficult to beat. even their general policy comes out extremely competitive so it's not as if they are loading this to offset bike cover.
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awildt




Joined: 08 Apr 2011
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PostPosted: Mon Nov 26, 2018 12:44 pm    Post subject: Reply with quote

stenard wrote:
Why do you think you pay a premium for extra bikes with pedal cover?

I've been with them for a number of years now. House contents insurance was on a par with other policies anyway, and with pedal cover I got unlimited bikes up to 10k each, including travel, accidental damage, and damage in races/theft from transition areas.

Unless something has changed, in which case I need to reassess my cover, you don't even have to tell them in advance what bikes you have if they are under 10k, so I can't see how they can charge more for subsequent bikes.

EDIT - their website still specifically states "we don't charge per bike".


If you don't mind me asking, what is your perception of "on a par with" in terms of insurance premiums for Pedal Cover?

Every time I've thought about going with them I have struggled with price point and ease of use (the lack of). I tried the last time and the simplicity with which Barclay's picked up my insurance was such a help.
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stenard




Joined: 04 Sep 2013
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PostPosted: Mon Nov 26, 2018 2:02 pm    Post subject: Reply with quote

awildt wrote:
stenard wrote:
Why do you think you pay a premium for extra bikes with pedal cover?

I've been with them for a number of years now. House contents insurance was on a par with other policies anyway, and with pedal cover I got unlimited bikes up to 10k each, including travel, accidental damage, and damage in races/theft from transition areas.

Unless something has changed, in which case I need to reassess my cover, you don't even have to tell them in advance what bikes you have if they are under 10k, so I can't see how they can charge more for subsequent bikes.

EDIT - their website still specifically states "we don't charge per bike".

If you don't mind me asking, what is your perception of "on a par with" in terms of insurance premiums for Pedal Cover?

Every time I've thought about going with them I have struggled with price point and ease of use (the lack of). I tried the last time and the simplicity with which Barclay's picked up my insurance was such a help.

It is on a par, as it was originally cheaper than the total I was paying before for contents insurance, plus a separate bike insurance policy for one (pretty cheap) bike.

My pedal cover policy covers me for approximately 3x the amount of possessions (75k) as my old policy, covers me for all my bikes (I now have 3, the other two are significantly more expensive than the first one I had), gives me 8k of possessions cover worldwide (as well as the bikes on top of that), provides race cover and airline damage cover for the bikes, and has an excess of 0. There's a load of other included benefits too (personal liability cover, legal cover, etc).

I will admit I havent looked elsewhere in a number of years to see if I could get this all cheaper. But pedal cover hasnt really gone up very much at all since I took it out.
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FatPom




Joined: 26 Dec 2005
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PostPosted: Mon Nov 26, 2018 2:22 pm    Post subject: Reply with quote

stenard wrote:
awildt wrote:
stenard wrote:
Why do you think you pay a premium for extra bikes with pedal cover?

I've been with them for a number of years now. House contents insurance was on a par with other policies anyway, and with pedal cover I got unlimited bikes up to 10k each, including travel, accidental damage, and damage in races/theft from transition areas.

Unless something has changed, in which case I need to reassess my cover, you don't even have to tell them in advance what bikes you have if they are under 10k, so I can't see how they can charge more for subsequent bikes.

EDIT - their website still specifically states "we don't charge per bike".

If you don't mind me asking, what is your perception of "on a par with" in terms of insurance premiums for Pedal Cover?

Every time I've thought about going with them I have struggled with price point and ease of use (the lack of). I tried the last time and the simplicity with which Barclay's picked up my insurance was such a help.

It is on a par, as it was originally cheaper than the total I was paying before for contents insurance, plus a separate bike insurance policy for one (pretty cheap) bike.

My pedal cover policy covers me for approximately 3x the amount of possessions (75k) as my old policy, covers me for all my bikes (I now have 3, the other two are significantly more expensive than the first one I had), gives me 8k of possessions cover worldwide (as well as the bikes on top of that), provides race cover and airline damage cover for the bikes, and has an excess of 0. There's a load of other included benefits too (personal liability cover, legal cover, etc).

I will admit I havent looked elsewhere in a number of years to see if I could get this all cheaper. But pedal cover hasnt really gone up very much at all since I took it out.


My experience is the same as Stenard's. I did try Pedal Cover for Mrs FP's car and they couldn't come close. I have them for my car also but will shop around just in case.
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Chrace




Joined: 28 Apr 2010
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PostPosted: Tue Nov 27, 2018 8:02 am    Post subject: Reply with quote

Pretty sure we're on Barclays but with extended cycle cover. It's then up to 3.5k - per - bike regardless of how many. Fairly certain it also covers them away from home (day trips).
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awildt




Joined: 08 Apr 2011
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PostPosted: Tue Nov 27, 2018 9:40 am    Post subject: Reply with quote

Chrace wrote:
Pretty sure we're on Barclays but with extended cycle cover. It's then up to 3.5k - per - bike regardless of how many. Fairly certain it also covers them away from home (day trips).


It covers them away from home and overseas travel - as long as you have shown "reasonable care and attention" to locks etc. The usual insurance speak.
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iwaters




Joined: 06 Sep 2016
Posts: 441

PostPosted: Tue Nov 27, 2018 9:55 am    Post subject: Reply with quote

Few people have recommended pedal cover to me. As someone mentioned above ease of use is a problem. I don't want to talk to someone, I want to fill in a form, pop in my bank details and done.

I was also a bit confused about what was and wasn't covered. When I asked they responded and said yes it is, but I couldn't find it spelt out in the documents.

Important parts of insurance are cost and what they are like when you claim. I was with Yellow Jersey, they were quite difficult when I claimed my race fee for Lanza, they paid up in the end but didn't make it easy.
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awildt




Joined: 08 Apr 2011
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PostPosted: Tue Nov 27, 2018 10:53 am    Post subject: Reply with quote

iwaters wrote:
Few people have recommended pedal cover to me. As someone mentioned above ease of use is a problem. I don't want to talk to someone, I want to fill in a form, pop in my bank details and done.

I was also a bit confused about what was and wasn't covered. When I asked they responded and said yes it is, but I couldn't find it spelt out in the documents.

Important parts of insurance are cost and what they are like when you claim. I was with Yellow Jersey, they were quite difficult when I claimed my race fee for Lanza, they paid up in the end but didn't make it easy.


Exactly. Make all the documents available to me so I can read in my own time. Make an easy to use web portal so I'm not constrained to office hours when the day is full enough with meetings, calls, & emails (and responding to threads on forums) and let me manage my requirements. Not having to deal with a broker trying to upsell everything and catastrophise so that I pay monthly installments for a product I'll never use.

*rant done* - feel better now Wink
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stenard




Joined: 04 Sep 2013
Posts: 1984

PostPosted: Tue Nov 27, 2018 11:58 am    Post subject: Reply with quote

Upselling brokers might be the norm in the world of insurance, but that's never been my experience with the Pedal Cover team.

Horses for courses though. I quite liked being able to speak directly with the owners who had arranged all the finer details of the policy they were offering with AXA. A lot of non-specific bike/race/tri policies are hugely unclear in terms of what is covered, and more importantly what is not, with respect to the standard online documentation. And when you do speak to someone, they have no idea as they are used to dealing with people asking about more standard aspects.

So if you don't want/like the personal touch, then I would agree pedal cover is probably not for you. For me, I have no problem fitting in a personal call during the day, and being able to ask specific questions of someone knowledgeable about their product is reassuring.
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