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Bike insurance - M&S heads up (Read 3302 times)

fatkid2000

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Bike insurance - M&S heads up
October 07, 2013, 01:12:57 pm
M&S have changed their bike insurance.

You have to specify bikes over £2k - still the cheapest I could find & covers them world-wide even if accidental damage.

It's replacement value - I.e new for old.

Putting my 3 on put an extra £100 on the premium.

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#1 Re: Bike insurance - M&S heads up
October 07, 2013, 03:43:48 pm
For new policies only i guess? Thanks I'll check it out when I renew ours.

fatdoc

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#2 Re: Bike insurance - M&S heads up
October 07, 2013, 03:49:02 pm
Pretty sure it's been in effect for 18months...

Any over 2 k need valuing before theft by a bike shop iirc...

fatkid2000

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#3 Re: Bike insurance - M&S heads up
October 07, 2013, 05:17:39 pm
It's for new and renewed policies - apparently been in place for renewals / new policies since April.

You just phone them and tell them replacement value - don't need a bike shop valuation.
Any under £2k don't need specifying.

fatdoc

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#4 Re: Bike insurance - M&S heads up
October 08, 2013, 10:25:41 am
Cheers,

Might be Halifax for the valuations... I forget who I am insured with this year... One of them went up massively... I rung up, threatened to leave, they dropped the price by 30%


Bubba

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#5 Re: Bike insurance - M&S heads up
April 15, 2014, 08:24:46 pm
Just to add to this...

If you don't declare a bike that is worth over 2k and it's stolen then it's not covered at all; i.e. they won't just pay the first 2k of a more expensive bike.

fatdoc

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#6 Re: Bike insurance - M&S heads up
April 15, 2014, 11:06:45 pm
thanks Bubs...

need to get on the phone, as will many.. some on here..

Ti_pin_man

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#7 Re: Bike insurance - M&S heads up
April 16, 2014, 01:34:17 pm
They seem to have started messing around with the policies a couple of years ago and I coincidentally had to move the insurance policy for another reason.  I came across very few policies insuring bikes like M&S used to but found one via Lark Insurance to cover bikes to whatever value was needed.  I think its underwritten by Aviva but the policy insures bikes to their value within a reasonable household policy.  Shop around.

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#8 Re: Bike insurance - M&S heads up
April 17, 2014, 09:17:51 am
So I've just spoken to M&S, the deal is £2k for existing customers (ours is a 'premium' policy so not sure if others are different), but only £1k for new customers. Importantly if you buy a bike second hand for under £2k but to replace new it would be worth over £2k you still need to specify it as it is a new for old policy. It will add a fair bit to the premium. They didn't need  proof of ownership or photos etc, just make/model/any upgrades etc.

 

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