naath: (Default)
[personal profile] naath
Bicycle Insurance:

I have my shinyshiny bike insured with cyclecover (http://www.cyclecover.org.uk/) when I recently hit a wall at speed evading a car and thoroughly trashed the frame I claimed on this insurance in a hopeful sort of way. I sent a few emails, filled in a short form (name, policy number, how much are you claiming? why are you claiming it?), photocopied some bank statements, printed some photos & posted all that stuff off and today I have 800 quid in my bank account from them (and I haven't had to pay out for the repair yet; and I got to pick my preferred repair people).

I recommend these insurers as being insurers who actually pay out money in settlement of claims rather than arguing with you about whether they actually agreed to ever pay you any money and as being competent with email communication (I didn't have to phone them). Unfortunately I can't recommend them as being cheap; my insurance policy costs 10% of the cost of the bike annually although I expect this is mostly to do with the high risk of bike thievery in Cambridge.

(no subject)

Date: 2013-01-16 12:45 pm (UTC)
lethargic_man: (bike)
From: [personal profile] lethargic_man
As a matter of interest, not having owned a bike of the value of yours myself, can you tell me what are the advantages of a ≥ £800 bike for commuting over a £300 hybrid?

That's weird…

Date: 2013-01-16 01:16 pm (UTC)
From: (Anonymous)
I've never heard of bike insurance in NYC; if there were such a thing, it might be one thing that would get me to ride.

Riding here is pretty much at-your-own-risk, and that includes all the other risks, like getting "doored" and run over by trucks (lorries.)

Re: That's weird…

Date: 2013-01-16 01:25 pm (UTC)
ext_66326: (Default)
From: [identity profile] lnr.livejournal.com
I have theft insurance through my household insurer - which is a lot cheaper than naath's specialist insurance. I'm not sure if I'm covered for damage though - I'd have to check the policy. Bikes here get stolen often enough that it's worth it to me to insure against it - even though I'm careful about locking it.

In the UK damage from motorised vehicles would be covered by the compulsory 3rd party insurance of the driver - though of course you do need to get them to stop and give you their insurance details! That should probably be the case with a dooring too, though that is less clear.

(no subject)

Date: 2013-01-16 11:11 am (UTC)
ext_20852: (Default)
From: [identity profile] alitalf.livejournal.com
That's good, though very sad about the accident. My bicycle is not valuable enough to be worth insuring, and I've been too ill to try cycling for a while, so not directly relevant. However, it is good to know of a financial company not acting like a bunch of bandits!

I hope you weren't injured in the collision? Brick walls are so much tougher than humans.

(no subject)

Date: 2013-01-16 11:22 am (UTC)
From: [identity profile] naath.livejournal.com
Yes, it's a sufficiently expensive bike that this repair would really have been hard to fund; for cheaper bikes self-insuring is much better.

I was fine; slightly grazed knees and a little shaken, but nothing lasting.

(no subject)

Date: 2013-01-16 12:14 pm (UTC)
From: [identity profile] lethargic-man.livejournal.com
Self-insuring? Do you mean simply being prepared to fork out very occasionally, as it works out cheaper than having the bike insured per likelihood of need, as I do? (My main bike cost under £300, my spare bike under £100 and my Berlin bike €30.)

(no subject)

Date: 2013-01-16 12:33 pm (UTC)
From: [identity profile] naath.livejournal.com
Yes; being prepared to pay costs yourself to fix problems as-and-when. It's obviously cheaper-on-average because insurance companies make a prophet and pay staff and stuff. But if the costs are too high then maybe the risk is too big.

The other other option is to say "well, I don't really need this so if it breaks I won't have one anymore" but I can't do that for my main transport solution.

(no subject)

Date: 2013-01-16 01:01 pm (UTC)
From: [identity profile] atreic.livejournal.com
How much are you paying annually? When I insured my Brompton it was about 100 a year...

(no subject)

Date: 2013-01-16 01:01 pm (UTC)
From: [identity profile] atreic.livejournal.com
Ah, I have seen you have already sort of answered this, and it is still 10% of the cost of the bike. Apologies for inability to read!

(no subject)

Date: 2013-01-16 01:02 pm (UTC)
From: [identity profile] naath.livejournal.com
300 (pain)

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