Good Insurer for EBikes

Metheven
Metheven Club Member Posts: 3,987 ✭✭✭
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edited February 2019 in Parts & Accessories #1

Could anyone recommend an Insurer they use for EBikes please smile

EDIT: Not sure of correct category to put this in, please move if wrong.

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  • Kontikiboy
    Kontikiboy Forum Participant Posts: 304
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    edited February 2019 #2

    Hi,

    I use Assetsure.   They are in Millbank Tower, London,

    phone: 0208 0033 190.      Our bikes are Swiss Flyers and the two cost £4,800.    But that was in 2015 when e-bikes were quite a new idea.   There wasn’t that much choice then, but they are good quality bikes.   That’s why they are insured.    We pay £178 p.a.

    I always say that good insurance is only as good as the cover and a successful claim, but we have not had to make a claim yet.    Please note I use Assetsure, but am not in a position to recommend them over other companies.

    Many household contents insurance policies cover bikes and even e-bikes, but sadly, ours does not.

    Good cycle insurance will insist that you use Gold Secure locks, such as ABUS, and they are not cheap either.

    BillC

  • Metheven
    Metheven Club Member Posts: 3,987 ✭✭✭
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    edited February 2019 #3

    Thanks for the reply Bill, we have just bought two Merida Shimano crank drives at £2300 each, so far insurance quotes are coming in at £400/£500 per annum for both and that includes EU, more than my car surprised but on saying that they are far easier to disappear.

    I'll make an enquiry with Assetsure and will also look at my home insurance smile

    Thanks again.

  • Metheven
    Metheven Club Member Posts: 3,987 ✭✭✭
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    edited February 2019 #4

    Assetsure quotes me £180.68 including EU travel for both bikes and accepts our Silver secure locks for up to £2500 per bike, best price so far 👍

  • Outdoor Lady
    Outdoor Lady Forum Participant Posts: 127
    edited February 2019 #5

    We have 2 Kalkoffs, about the same price as yours, we added ours onto our home insurance with the AA, they insured them for anywhere in the world, all in the price for home and contents insurance it's obviously the better option but as others have stated not all company's insure bikes, Maybe an idea to look to change household insurance next time ?

  • Wherenext
    Wherenext Club Member Posts: 10,607 ✭✭✭
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    edited February 2019 #6

    Ours is insured under our household insurance through Halifax. This includes Europe plus it also cover them when they are looped chained through the cornersteady or rear caravan handle. Some insurers will not classify the caravan as a static object and they all seem to insist that the bikes are secured in such a manner when not in use.

  • Kontikiboy
    Kontikiboy Forum Participant Posts: 304
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    edited February 2019 #7

    Hi Wherenext, are your bikes electric bikes?     My home insurance is with the Halifax but they won’t insure my e-bikes!

    BillC

  • ocsid
    ocsid Forum Participant Posts: 1,395
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    edited February 2019 #8

    Do these ebike insurances, particularly those under household, also cover third party injury claims?

     

     

  • Wherenext
    Wherenext Club Member Posts: 10,607 ✭✭✭
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    edited February 2019 #9

    Yep. Even states so on the schedule. I'll be home at the weekend and will dig out the details then.

  • Wherenext
    Wherenext Club Member Posts: 10,607 ✭✭✭
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    edited February 2019 #10

    Yes as part of the home insurance. Can't answer for those insurers who are specialists and only cover the bikes.

  • Wherenext
    Wherenext Club Member Posts: 10,607 ✭✭✭
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    edited February 2019 #11

    Just checked the schedule as you had me worried. Both bikes shown on schedule as "ebikes" and I also have a referdnce for a conversation I had with Halifax about whether a touring caravan on a site was deemed to be a static structure. It's issued through Halifax but insured with Lloyds Bank Insurance.

    Maybe it's a new thing to attract business. There was a £50 introductory business cheque from them waiting for me when we got home from a caravan trip away today.laughing

  • Kontikiboy
    Kontikiboy Forum Participant Posts: 304
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    edited February 2019 #12

    Thanks wherenext, I will ring Halifax on Monday and check them out, again.    It is now 4 years ago so things may have changed.    The other thought I had was about the Halifax Reward Current Account which offers free travel insurance and some other perks.   Do you have one of these accounts.    I am still on the old type of account I have had for about 40 years!

    BillC

  • Unknown
    Unknown Forum Participant
    edited February 2019 #13
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  • Kontikiboy
    Kontikiboy Forum Participant Posts: 304
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    edited February 2019 #14

    Hi Wherenext,

    I have spoken to Halifax Home Insurance this morning and they still do not insure electric bikes.       I presume your policy is with a different part of the Lloyds Bank Group which is part of the Bank of Scotland, very complex!      I will have to stick with Assetsure.

    BillC

  • young thomas
    young thomas Forum Participant Posts: 11,356
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    edited February 2019 #15

    I was looking at changing household insurance (still am) but current provider Saga covers our ebikes (theft, third party etc) and are also new for old....the insured value has risen slightly each year for last four years to cover this....

    mine now £2600 (from £2100) and OH £2000 (from £1300, got it at one month old, huge discount) 

    with this very thread in mind i asked Saga how much the bikes added to the premium, they said £85....

    thats great, but I'm unhappy with some other aspects, hence my 'looking'...

  • Takethedogalong
    Takethedogalong Forum Participant Posts: 17,048 ✭✭✭
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    edited February 2019 #16

    We have ours, (ebikes and some seriously expensive road bikes) all covered by our house insurance. We had a pair of bikes stolen from home a few years ago, top tip is to take photographs and keep receipts for every bit of kit or add on you buy for bikes. We had no trouble getting a full refund for everything to do with our bikes, mainly because we had the evidence to prove what we had spent and how much security was in place. That was with Lloyd’s, we are now with LV.

    You can go to specialist bike insurers, but they often include add ons you don’t really require, and don’t give much if any discount if you try to take things off the policy. I will add that we don’t take bikes overseas, this might be different.

  • Kontikiboy
    Kontikiboy Forum Participant Posts: 304
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    edited February 2019 #17

    Hi BB,

    Apart from the e-bikes, I am very happy with the Halifax Home Insurance.    It is new for old and after losing a Nikon Pro SLR worth over £2K they paid up within 3 days and that was all done with me in Largentiere.    But on the whole I think they are expensive.     Then again, last year I added a pair of Swarovski bino’s and they only added £10 to my annual fee for them.    I tried to switch about 3 years ago because I wanted to find something cheaper, but after getting quotes from a number of places I compared them and stayed put.    Last January they knocked £90 off my annual fee for loyalty!!     Got to be happy with that.

    BillC

  • Wherenext
    Wherenext Club Member Posts: 10,607 ✭✭✭
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    edited February 2019 #18

    Hi KB.

    We don't have any bank accounts at all with Halifax and I just got a quote in November on a comparison website (think it was Moneysupermarket but not sure).

    I was more concerned with security conditions so I actually spoke to a member of staff so they knew that they were e-bikes. The mysteries of being a new customer compared to an existing one.undecided

  • Metheven
    Metheven Club Member Posts: 3,987 ✭✭✭
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    edited February 2019 #19

    Thanks to this thread I'm saving some money smile

    Besides having an account with the Halifax, I have Buildings and Contents with them since moving from SAGA last September. Looking through my policy EBikes are mentioned as being covered with EU of 60 days max, not certain if it can be extended.

    My premium last September for Buildings and Contents was £126 plus a cashback cheque for £50.

    Policy wording:

    Pedal cycle cover
    This section applies if you have ‘Pedal cycle cover’ – this is shown in your policy schedule.
    What we cover.
    Loss of or damage, including accidental damage, to pedal cycles (including electrically assisted pedal cycles that cannot be solely propelled by the electric motor more than 15.5mph) and their accessories belonging to you or your family or for which you or your family are legally responsible.

    Link to Policy document, scroll down a little and click on 'Pedal Cycle cover' left of page.

    https://static.halifax.co.uk/assets/pdf/insurance/pdf/hx-hpa-policy-booklet-latest.pdf#pedalcycle

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