Insurance

[Rogerc]

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

[Jbb]

"RogerC" <cortis@no.spam.globalnet.co.uk> wrote in message
news:c972od$nu0$1@hercules.btinternet.com...
> 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
>
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

[Arthur Clune]

RogerC <cortis@no.spam.globalnet.co.uk> 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 (http://www.clune.org/) "Technolibertarians make a
philosophy out of a personality defect"
- Paulina Borsook

[Peter Clinch]

RogerC wrote:
> Having just bought a custom fit Serotta -- replacement
> cost =A32750 and=
with 4
> other bikes in the garage replacement cost in total
> =A31000 -- when I a=
dded
> the Serotta to my house cover the premium was an extra
> =A3120 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 adde=
d
> 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
> 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.

> Can anyone tell me , whether it is worth my while to
> continue to try to=
get
> 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
p.j.clinch@dundee.ac.uk http://www.dundee.ac.uk/~pjclinch/

[Julian Symondso]

On Fri, 28 May 2004 10:02:53 +0000 (UTC), RogerC
<cortis@no.spam.globalnet.co.uk> wrote:

> 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

__o
_`\(,_
(_)/ (_)

[Peter Clinch]

Arthur Clune wrote:

> 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 p.j.clinch@dundee.ac.uk
http://www.dundee.ac.uk/~pjclinch/

[Ian G Batten]

In article <c97ch2$9de$1@hercules.btinternet.com>,
JBB <Jbb@messages.co.uk> wrote:
> 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