Insurance

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

Quoted message said:

Having just bought a custom fit Serotta -- replacement cost £2750 and with

4

Quoted message said:

other bikes in the garage replacement cost in total £1000 -- when I added
the Serotta to my house cover the premium was an extra £120 a year --

world

Quoted message said:

wide cover, provided locked to an immovable object if outdoors etc.
Under pressure from better half not to keep the Serotta indoors, I added
this to my exisitng home cover.

I have tried to get a simple answer from the CTC site, whether if I became

a

Quoted message said:

member I would save on this premium -- but I do not get an easy answer.

Can anyone tell me , whether it is worth my while to continue to try to

get

Quoted message said:

a quote through CTC??
Roger

No. At least that was the answer 2 years ago. I insured my bike with them
for £2.5k and it cost £130 to insure. It is now covered on house insurance.
We use Marks and Spencers for this as it worked out the best deal for us.
(note: if you use thier credit card to pay for it you get a further
reduction 10% I think) It's probably best if you look at contents insurance
again when your current policy comes up for renewal. A browse through Google
groups will find plenty of threads that should give you 3 or 4 companies
worth getting a quote from.
HTH
Julia

In article <[email hidden]>,

JBB said:

again when your current policy comes up for renewal. A browse through Google
groups will find plenty of threads that should give you 3 or 4 companies
worth getting a quote from.

Interestingly, LloydsTSB imposed no explicit restrictions for security,
just that I should take reasonable precautions as I would with anything
else on the extended risks policy. Which is good, in a way, but bad, in
other ways, as it means you get to have the row about security at claim
time, not at renewal time. In that light, I've taken the sort of
precautions that more restrictive policies make --- big Kryponite chain
to a floor anchor drilled into concrete at home, decent lock to
employer-supplied rack and employer-monitored CCTV at work --- so that I
can argue I had interpreted their leniency in a sensible manner.

Cheap, though. About 5% of the cost of the bike (including a staff
discount, but not a very large one, and full NCD).

ian

RogerC <[email hidden]> wrote:

: Under pressure from better half not to keep the Serotta indoors, I added
: this to my exisitng home cover.

eek. I'd be keeping a Serotta indoors if I had one!

Arthur

--
Arthur Clune http://www.clune.org
"Technolibertarians make a philosophy out of a personality defect"
- Paulina Borsook

RogerC said:

Having just bought a custom fit Serotta -- replacement cost =A32750 and=

with 4

Quoted message said:

other bikes in the garage replacement cost in total =A31000 -- when I a=

dded

Quoted message said:

the Serotta to my house cover the premium was an extra =A3120 a year --=

world

Quoted message said:

wide cover, provided locked to an immovable object if outdoors etc.
Under pressure from better half not to keep the Serotta indoors, I adde=

d

Quoted message said:

this to my exisitng home cover.
=20
I have tried to get a simple answer from the CTC site, whether if I bec=

ame a

Quoted message said:

member I would save on this premium -- but I do not get an easy answer.=

You don't save premiums through membership, you get some free personal=20
insurance thrown in (so if you die you'll be automagically 15K richer... =

looks pretty marginal as a benefit to me to be honest!). You don't need =

to be in CTC to use their "Cyclecover" insurance.

House contents insurance may or may not be the thing, depending where=20
you look. Direct Line weren't much use as they want to depreciate the=20
value for wear and tear (i.e., you gonna get screwed /reeeeeaaaalllll/=20
bad) and won't insure beyond the home over a certain value, Halifax=20
seemed okay until I pointed out I had a tenant and then everything fell=20
to bits, Nationwide are no longer interested over =A31500 etc. Bottom=20
line is read the small print carefully to make sure you'll get new for=20
old, if it's covered against accidental damage etc.

This year, having got bored of shopping and coming to a deadline next=20
week anyway, we've gone Direct Line for contents/buildings and put the=20
expensive bikes on CTC. I think it costs more than it should and there=20
isn't enough differentiation between types (discount for tandem and,=20
errrrr, that's it) so my 8 Freight is, you'd be forgiven for thinking,=20
just as desirable to thieves as a serious Cannondale hardtail! I'll=20
probably review it all again next year and hopefully CTC will have=20
improved their offering a bit by then, but to be honest nobody I've seen =

is insuring (relatively) expensive bikes for sensible premiums.

Quoted message said:

Can anyone tell me , whether it is worth my while to continue to try to=

get

Quoted message said:

a quote through CTC??

=A3120 a year sounds pretty good to me, but if you 'phone CTC you'll get =

straight answers in not much time.

Pete.
--=20
Peter Clinch University of Dundee
Tel 44 1382 660111 ext. 33637 Medical Physics, Ninewells Hospital
Fax 44 1382 640177 Dundee DD1 9SY Scotland UK
net [email hidden] http://www.dundee.ac.uk/~pjclinch/

Arthur Clune said:

eek. I'd be keeping a Serotta indoors if I had one!

And you'd tell it you loved it too. But only to get into bed... ;-)

Pete.
--
Peter Clinch University of Dundee
Tel 44 1382 660111 ext. 33637 Medical Physics, Ninewells Hospital
Fax 44 1382 640177 Dundee DD1 9SY Scotland UK
net [email hidden] http://www.dundee.ac.uk/~pjclinch/

RogerC said:

Having just bought a custom fit Serotta -- replacement cost £2750 and
with 4
other bikes in the garage replacement cost in total £1000 -- when I added
the Serotta to my house cover the premium was an extra £120 a year --
world
wide cover, provided locked to an immovable object if outdoors etc.
Under pressure from better half not to keep the Serotta indoors, I added
this to my exisitng home cover.

I have tried to get a simple answer from the CTC site, whether if I
became a
member I would save on this premium -- but I do not get an easy answer.

Can anyone tell me , whether it is worth my while to continue to try to
get
a quote through CTC??
Roger

If you can afford it you might just as well tuck a few quid away in a
savings account and self insure. Buy a good lock and use it in 'risky'
places and watch the bike carefully at other times.

If you take all the right precautions you won't lose it - if you don't
many insurers won't pay out anyway.

You'll save the cost of the insurance (which most years is money down the
drain) and you'll even get some interest on the investment. The names of
Lloyds of London know what they are doing (most of the time).

If you go on a tour somewhere unsavoury you could insure the bike under
your travel insurance just for the period you are away.

On average you should come out better than by insuring - after all the
insurers need to make a profit and you are paying for that as well as for
the risk factor.

--

J u l i a n

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