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MTB Insurance
Hey does anyone know of an insurance company that does mountain bikes.
I've just got a new second hand bike and I thought it might be a good idea to insure it?
Is it preferable to place it under household contents- specified or get 'niched' insurance?
Does anyone have any ideas or tips or experience?
Thanks
twotoms
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and have a search through old nobmob forums (top right corner ) or look here...
http://nobmob.com/node/8139
I have my mountain bike and my road bike insured with Velosure and they are fantastic.
Not that I've had need to use the policy yet, God forbid.
While I can't vouch for a bike claim my lovely partner has lost her engagement ring 3 times over the last 5 years (including losing one within days of it arriving - the poor guy on claims was still doing paper work on previous replacement and couldn't believe we were back!!) and we've not had a single issue getting replacement (we're not talking a cheap ring here - we're talking top of the top end mountain bike equivalent). My bikes are also listed on the same home and contents as "Specified" items so hopefully the process would be as easy. I have no idea as to the cost benefit against Veloinsure but given the money we've claimed off them over the years they've got us for a while. I did ring our insurance company and enquire about the specific claims by veloinsure re not covered during races etc and our insurance said they would cover under all those eventualities (talk is cheap I know). Given the ring's had insurance certificates which obviously helps the claim process I've made sure I have photo's of bike, serial No.s and copies of purchase invoice etc. Fingers crossed they're never needed.
I compared both velosure and my current home contents insurer and i ended up going with my current home contents insurer on price . insurance company does not cover for damage if racing/competition but other than that the coverage seemed to be the same. you just need to make sure that you are taking out 'portable' (i'm not sure of the official terminology) type of insurance instead of just putting it under your std home contents as this will impact your payout amount (eg NRMA will only payout 20% of value if it is under your std home insurance but 100% if it is listed as a portable item)
Thanks to everyone for those tips...I'll look into everything....have a great week
2toms
I lost my bike at an event with plenty of people around. So the home and contents is a good idea but remember to keep your ride secure at events even when you are at the loo because the home and contents doesnt cover you at an event! If you think it wont happen, it just might and that what the insurance is actually for so maybe the few extra bucks would be worth it.
Cheers
Craig
I used to have QBE throu insurance house group until last year. It was around $900 a year and all my stuff was completely covered against theft or damage. During the two years i was covered, i calimed 1 stolen bike with all the accesories and 3 times parts for my MTB that were broken (derailers, chain ring etc) In each oportunity I paid an excess of $100 and i got the rest of the full amount with no problems (just filling a form on the net).
Then i was sick and out of riding and cancelled the policy but i am thinking of retaking it...
I spoke to the guys at Velosure about... erm... insurance and explained their name came up online a lot.
The guy there gave me a referral code to spread about... if anyone does insure with them, if you quote this code it would be nice: 0992