insurance

Discussion in 'UK and Europe' started by Rupert Smith, Feb 26, 2003.

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  1. Rupert Smith

    Rupert Smith Guest

    I know that this has been covered to some extent before, but I'm looking for an insurance policy
    for my new bike. The old one was covered by the household insurance as it was worth less than £500
    but the new one is worth over £800 hence the need for changing the insurance. The problem is that I
    live in a shared rented house where all 3 of us are covered by the same contents policy which makes
    it difficult to change the policy, as not many companies seem to insure people in the same house if
    they aren't members of the same family. The alternative is a bike specific policy but a lot of
    these specify that the bike must be kept in a locked building overnight, and apparently a locked
    garden shed doesn't class as a building. The shed is the only place I can reasonably keep the bike,
    so this kind of leaves me stuck with no insurance and an expensive bike until I can come up with a
    better idea!

    Any ideas? Cheers, Rupert
     
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  2. "Rupert Smith" <[email protected]> wrote in message
    news:[email protected]...

    > I know that this has been covered to some extent before, but I'm looking for an insurance policy
    > for my new bike. The old one was covered by the household insurance as it was worth less than £500
    > but the new one is worth over £800 hence the need for changing the insurance. The problem is that
    > I live in a shared rented house where all 3 of us are covered by the same contents policy which
    > makes it difficult to change the policy, as not many companies seem to insure people in the same
    > house if they aren't members of the same family. The alternative is a bike specific policy but a
    > lot of these specify that the bike must be kept in a locked building overnight, and apparently a
    > locked garden shed doesn't class as a building. The shed is the only place I can reasonably keep
    > the bike, so this kind of leaves me stuck with no insurance and an expensive bike until I can come
    > up with a better idea!

    You could "self insure" by putting aside a sum each month in an interest bearing savings account
    which you will draw upon if your bike gets nicked.

    It might sound daft till you consider that insurance companies make their money by collecting more
    in premiums than they pay out.
     
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