Bicycle insurance against theft etc.

16 posts in this topic

Posted

hi,

OK got by bike nicked the other day, so bought a new one and as usual

found my self spending more than expected (1900yoyos - yikes).

Not keen for this one to go the same way at least not without some money back.

Any recomendations for bicycle insurance?

Many Thanks,

Jono

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Posted

Our bikes are covered by our household contents insurance hence we do not need an extra insurance for bikes

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Posted

Yes, Mik Dickinson is correct. Usually it covers up to 3% of the total coverage for the household contents (ex coverage for 10,000€ = 300€ coverage for bikes). If you have expensive bikes (like one that would cost 2000€ to replace), then you would need additional coverage (special just for bikes). I have done this because I have 3 bikes and two of them would cost, well, alot to replace. More than 300€.

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Posted

Does this usually cover bikes whilst not at the house? My colleagues here suggest that this covers only in the house, whilst the bike is m0re likely to be nicked whilst out and about?

Thanks,

Jono

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Posted

Have worked in insurance in Australia but am not sure about German policies.

Find out if you can list the bike on your house hold insurance as a "portable valuable" (Australian insurance term) or the german equivalent then this would cover the bike outside and inside the house, without a separate policy.

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Posted

The new ruleing I got from the Allianz was I had to pay extra for bikes, it wasn't alot. And they have to be inside from 10 pm till 6 am, unless you're working. They've basicly accept the fact that all locks are crap and dont stop anyone from taking your rather expensive bike.

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Posted

What Gideon said. My bike was outside, locked and in front of my office building, in full view of my office - nicked in broad daylight. Insurance co paid out 1800€ for it. Now I bring my bikes into my office.

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Posted

In my opinion, you are crazy if you're riding a 1900 euro bike just to get yourself around Munich. If you ride to and from the office, fair enough, but bring it inside. There is no way you should lock up a bike like that on the street ever.. its just asking to be stolen..

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Posted

Yes, I was crazy for leaving it outside but I thought 'here it is in plain sight from the window of my office...and broad daylight'. Whoever stole it had some serious cojones. Now I ride my old mountain bike to the office (it's slower) and I still bring it inside.

Anyway, it was a newbie mistake...I'd only been in German for maybe 6 weeks when it happened.

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Posted

Hi Kitkat64: as mentioned by someone above, a good property&valuable content insurance will take care of this. The standard is indeed around 2-3 percent of total coverage for the contents of your apartment. The rule-of-the-thum to get the contents totally covered is to compute the squaremeters of your place times 650.- EUR, i.e. if your apartment is 50 sqm, the insurance coverage would be around 32.500.- EUR. Obviously, this would not cover by 3% the value of your bike, but you can increase the coverage for your bike against small additional premium. It is also true that while at home you have to lock in your bike after 10 p.m., if it is stolen directly outside your place on the street, you are not covered. Having said that, it does not mean you are not covered after 10 p.m. if for instance you have been riding to the Biergarten and locked your bike up there and find it stolen afterwards.

House content insurance is not too costly and you might want to combine it with third party liability, for instance if you reach the person about to steale your bike and knock him down in anger and find yourself charged with damage claims... ;-)

Of course ( read below) I would suggest to you getting quotes from a good independent broker

Cheerio

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Posted

Hi Starshallow, just for the record, it wasn't me asking the question. I have insurance that will cover all three of my bikes to the full replacement value - it was additional coverage on top of what we pay to insure our house. I was just relating my experiences with the insurance and coverage.

But thanks for the clarification. :)

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Posted

Ooops, Kitkat64, sorry bout the mistake. meant of course "jono". Since I turned 40 recently my brain cells appear to degenerate more rapidly... :wacko:

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Posted

I dont require house insurance but do require bike insurance in Germany, all UK efforts seem to be for only limited time periods, can anyone offer any suggestions? Thanks

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Posted

if you pay 110 EUr/year for a 1000 EUR bike against theft, I would rather go for a content isnruance which costs little more but also covers your content plus theft out of car and many more things AND the bike...

Cheerio

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Posted

I agree totally. It's a specialist insurance with commensurate premiums.

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