insurance

"thomas" <[email hidden]>typed

Quoted message said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

It is worthwhile if you can't afford to replace your bike in the event
of theft or a crash.

Otherwise,caution, a decent lock or two and the Thomas Mounsey Slush and
Contingency Fund are usually better value for money.

It is worth joining a cycling organisation, such as the CTC, for their
third party insurance and legal expertise. (There are also other
advantages of joining.)

--
Helen D. Vecht: [email hidden]
Edgware.

thomas said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

Unless your bike is very expensive, your homeowner's (or tenant's)
insurance should already cover it. Check with your insurance agent
before you unnecessarily spend money on redundant insurance.

Of course, my commuting bike is a very used MTB that cost me about 70
euro.

Jeff

The household policy is very dangerous in terms of value of the all up
bike. many talk of £1000 cover but a much reduced cover of about £2/300 per
bike. Beware. And it costs more than you realise -- just delete it from your
next policy quote and see what you save. my recommendation is to go to a
specialist new for old Cycle insurer! I learn by hearsay that we have about
a 3 year period when our bikes will be stolen.

Insure wisely -- my insurers paid up in full when my velo was stolen last
December

--
Trevor A Panther
In South Yorkshire,
England, United Kingdom.
www.tapan.pwp.blueyonder.co.uk

<[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

thomas said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

Unless your bike is very expensive, your homeowner's (or tenant's)
insurance should already cover it. Check with your insurance agent
before you unnecessarily spend money on redundant insurance.

Of course, my commuting bike is a very used MTB that cost me about 70
euro.

Jeff

wisely said Helen!

--
Trevor A Panther
In South Yorkshire,
England, United Kingdom.
www.tapan.pwp.blueyonder.co.uk

"Helen Deborah Vecht" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

"thomas" <[email hidden]>typed

Quoted message said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

It is worthwhile if you can't afford to replace your bike in the event
of theft or a crash.

Otherwise,caution, a decent lock or two and the Thomas Mounsey Slush and
Contingency Fund are usually better value for money.

It is worth joining a cycling organisation, such as the CTC, for their
third party insurance and legal expertise. (There are also other
advantages of joining.)

--
Helen D. Vecht: [email hidden]
Edgware.

No-one asked where you leave it. If you leave it on the street all day every
day and its worth money, then chances are someone will spot it and...

My solution is to keep a close eye on ebay & get a really nice bike for next
to nothing, knowing that if it gets nicked I can always get another really
cheap. In fact, I have one in reserve under the stairs, just in case.
(Raleigh Dynatech - Titanium frame, goes like the wind, £60. My regular bike
being a Benotto - exquisite Italian racer from the 70s - £56. Tho' it did
need a bit of work...)

Buy something that doesn't look worth nicking, and let it get really
dirty...
"thomas" <[email hidden]> wrote in message
news:[email hidden]...

Quoted message said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

Pinky wrote:

[snip]

Quoted message said:

Insure wisely -- my insurers paid up in full when my velo was stolen last
December

Who was that insurer? [Looking for advice on insurers not what bike to
own.... ;-)]

Cheers,
injuryprone

in message <[email hidden]>, thomas

(') said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

In my experience if you live in urban Britain your bikes are going to get
stolen sooner or later. How soon depends on /where/ in urban Britain you
live and where you park your bike. Whether insurance is cheaper in the
long run than just carrying the risk yourself is a gamble, of course.

--
[email hidden] (Simon Brooke) http://www.jasmine.org.uk/~simon/

;; All in all you're just another hick in the mall
-- Drink C'lloid

Simon Brooke <[email hidden]>typed

Quoted message said:

In my experience if you live in urban Britain your bikes are going to get
stolen sooner or later. How soon depends on /where/ in urban Britain you
live and where you park your bike. Whether insurance is cheaper in the
long run than just carrying the risk yourself is a gamble, of course.

A gamble in which the insurance companies like to stack the odds in the
companies' favour...

--
Helen D. Vecht: [email hidden]
Edgware.

Quoted message said:

can you guys tell me wether or not cycle insurance is worth the money?

For the vast majority of people, no, or the concept wouldn't work.
Insuring a bicycle is very expensive, and IMO only worth it if you
regularly lock it up outside in the same location, or regularly lock it up
in dodgy areas.

If you use a secure area or never leave it unattended then you're probably
better off self-insuring.

I did look into insuring my bike then locking it up in central manchester
for a few hours, but it was about the same price as getting the bike second
hand, once you'd added the excess etc.

thomas said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

just moved over to Marks & Spencer home insurance, for both building and
contents, as named items (quite a lot of bikes over the £1k limit)
pushed the other policy up a lot. M&S have a per bike value of £4k, and
a very good policy price.

Simon Brooke said:

in message <[email hidden]>, thomas
([email hidden]'😉 wrote:

Quoted message said:

Quoted message said:

hi im a newbie
can you guys tell me wether or not cycle insurance is worth the money?
i ride a giant xtc se mainly on the roads for work now
and if so which company is easiest to deal with?

Quoted message said:

In my experience if you live in urban Britain your bikes are going to get
stolen sooner or later. How soon depends on /where/ in urban Britain you
live and where you park your bike.

And how closely your bike resembles the latest bike fashion among
teenage educational casualties.

Quoted message said:

Whether insurance is cheaper in the
long run than just carrying the risk yourself is a gamble, of course.

If you're bike is less likely to be stolen than the insurance company
thinks it is, plus of course allowance for their trouble and profits,
then in the long term you're better off not insuring if you can afford
replacement.

Let me think now. In 50 years I've had one bike worth about #15
stolen, and one worth about #50 trashed because the thief lost his
temper with the unsmashable lock. That one was a mistake -- a smart
looking racer in the old days when racers were fashionable.

That comes to a bit over #1 a year.

--
Chris Malcolm [email hidden] +44 (0)131 651 3445 DoD #205
IPAB, Informatics, JCMB, King's Buildings, Edinburgh, EH9 3JZ, UK
[http://www.dai.ed.ac.uk/homes/cam/]