I know that this has been covered to some extent before, but I'm looking for an insurance policy for my new bike. The old one was covered by the household insurance as it was worth less than £500 but the new one is worth over £800 hence the need for changing the insurance. The problem is that I live in a shared rented house where all 3 of us are covered by the same contents policy which makes it difficult to change the policy, as not many companies seem to insure people in the same house if they aren't members of the same family. The alternative is a bike specific policy but a lot of these specify that the bike must be kept in a locked building overnight, and apparently a locked garden shed doesn't class as a building. The shed is the only place I can reasonably keep the bike, so this kind of leaves me stuck with no insurance and an expensive bike until I can come up with a better idea!
"Rupert Smith" <[email hidden]> wrote in message "]news:[email hidden]...
Quoted message said:
I know that this has been covered to some extent before, but I'm looking for an insurance policy for my new bike. The old one was covered by the household insurance as it was worth less than £500 but the new one is worth over £800 hence the need for changing the insurance. The problem is that I live in a shared rented house where all 3 of us are covered by the same contents policy which makes it difficult to change the policy, as not many companies seem to insure people in the same house if they aren't members of the same family. The alternative is a bike specific policy but a lot of these specify that the bike must be kept in a locked building overnight, and apparently a locked garden shed doesn't class as a building. The shed is the only place I can reasonably keep the bike, so this kind of leaves me stuck with no insurance and an expensive bike until I can come up with a better idea!
You could "self insure" by putting aside a sum each month in an interest bearing savings account which you will draw upon if your bike gets nicked.
It might sound daft till you consider that insurance companies make their money by collecting more in premiums than they pay out.
