Cycleguard Insurance in the UK **AVOID***

[Ropopompom]

From another forum...

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Lesson learned: always double-check the small print.

If you've taken out a cycle insurance policy with a so-called 'specialist' provider, you may find out that you're not covered for theft of parts. So if someone comes and strips your locked bike, leaving the frame and back wheel behind, you're screwed.

Quotes from a poster called Ecuse, on an Urban75 thread about bike insurance companies:

“I am insured with Cycleguard but recently had my bike stripped and they are not paying out - I’m totally disgusted.

Was locked with D-lock (approved) and a good cable lock round the wheels (over and above their requirements). Thieves cut the cable and stole both wheels, saddle, handlebars, gears and chain. I literally have frame and pedals left.

Cycleguard aren’t paying out because apparently in the small print it says they don’t pay out for theft of parts, unless the “whole bike” is stolen. It’s my contention that they effectively *have* stolen the whole bike but it’s not an argument I’m expecting to win to be honest.

Am I the only person who is unaware of this caveat in bike insurance? It strikes me as such an obvious thing to *expect* to be covered by specialist bike insurance that if they’re *not* going to cover it they need to put it in big black letters up front somewhere. I mean, seriously - the cost of replacing the spare parts is more than the cost of my bike (which is only 4 months old). How can any self-respecting bike insurance company not cover that?”

Later on in the cycle insurance thread…

“ After my fiasco with Cycleguard I have insured my new bike (which we had to pay for ourselves) as an added extra on my contents insurance (with More Th>n). I asked them if theft of parts (wheels, handlebars…) would be covered and they said “of course!” - they don’t even need an approved lock. How is it that you get so much more helpful and comprehensive and good value cover from your contents insurance than from a specialist bike provider?

Cycleguard are bastards … spread the word!”

Unfortunately I’m insured by cycleguard. The reason I went with cycleguard is because I don’t have house contents insurance, so I had to get seperate cycle insurance.

Cycleguard claim to be "one of the best bicycle insurerance providers in the UK", that their "full bicycle insurance" policy is "ideal for leisure, competitive or commuter use". Which is blatantly a lie - they won't pay out if your bike gets stripped, so how is the policy anywhere close to ideal?

I too missed that little caveat in cycleguard's small print. It’s now too late for me to cancel my bike insurance because it’s been over 28 days since I started the policy.

What sort of bicycle insurer wouldn’t cover theft of parts? How they can call themselves a specialist cycle insurance company is beyond my comprehension. They’re a disgrace. Avoid them at all costs - they’re not worth a penny of your money.

Get your bike insured on your house insurance if you have house insurance, or go with a different cycle insurer…

… and make sure you read and re-read all of the small print.

[Johnny_Monkey]

What sort of bike do you have? My bike's are not insured at all

[linux_author]

[snip]

What sort of bicycle insurer wouldn’t cover theft of parts?

[snip]

Get your bike insured on your house insurance if you have house insurance, or go with a different cycle insurer…

… and make sure you read and re-read all of the small print.

- most insurers, even of home contents, will have a deductible...

- you don't say how much you're out on your bad policy, but really, there's nothing stopping you from getting a renters/homeowners policy to cover your stuff and bike...

- good advice to get the house insurance... +1!

- i'm not sure bike insurance would be worth the money from *any* company here in the U.S... don't feel bad though, there are folks buying worthless policies in other hobbies too (amateur radio, lightening strike insurance, etc.)...

[superted]

my bike is covered by my home insurance too, doesnt require particular lock and covers everything

[Ropopompom]

You have to be careful with home insurance too.

House Insurance is a terrible way to insure your bike unless you've checked their payout method. The vast majority of home contents insurance providers fulfil insurance requests using vouchers that they will give you for a bike shop. This is a problem, because if you need to make a request and they give you vouchers for Halfords, you will not be pleased.

There are some exceptions, Hiscox pay cash against any claims. But the catch here is that you have to insure your contents starting at £50k f value, and any bikes cannot exceed 5% of the insured total.

I smashed up a geared racing bike and broke my Campag Ergolevers, Bars and front wheel, Hiscox replaced the lot with cash.

So even if you are insured, phone them and double-check their policy should you need to claim, it's better to move the insurance now than to discover the voucher system later.

[andrew2]

I have insurance through ETA - http://www.eta.co.uk/ . I haven't used it yet so I don't know how good it is but I do get free road side assistance! :-)

I couldn't get contents insurance as apparently the locks on our doors weren't good enough (and we rent so can't change them) so specialist insurance was the only way to go.

[Wooscary]

I have my camera gear insured through Photoguard which I think must be the photo side of the parent company, as is Cycleguard. I haven't claimed yet but I got to customise my policy with theft and damage, public liability etc.

It certainly isn't good atall that they aren't prepared to pay out on 'incomplete' thefts.

My bike is covered by Co-op home insurance, not sure how comprehensive that is. :S

[dpr]

Thats disturbing reading. I am getting a new ~£1100 bike next Friday and I had been considering Cycleguard. I think I will end up of commissioning a broker to find me a policy that is robust enough to cover the components but also pays out in cash.

Unless any one here can recommend me a firm?

[dpr]

*bump*

[Orbital57]

Just to update this with more info.

I'm looking for insurance and have been reading through home and cycle insurance policy info.

CycleGuard do appear to only pay out if the whole cycle is taken or vandalised beyond use (e.g. if if is stripped but the frame is good that's your problem).

Abbey National home insurance takes the same line as CycleGuard with a clause saying payout will only be made if the whole cycle is stolen/vandalised beyond repair.

More Than specifically state the opposite 'where damage can be repaired economically we will pay the cost of repair, where repair is uneconomical we will pay full replacement value' page 34 of their policy wording.

Moral of the story. Read the small print you won't get what you need otherwise.

Personally as a Londoner I'm appauled that any insurance company would exclude stripped bikes. You see them every day here if you look around.

Thanks to Ropopompom for the heads up. I wouldn't have checked.

[dpr]

Personally as a Londoner I'm appauled that any insurance company would exclude stripped bikes. You see them every day here if you look around.

Its not surprising though is it.

I think I will just add mine to my home contents insurance and just NEVER leave it locked up some where unless outside a cafe where I can see / touch it.

[Rayxt]

I have Cycleguard THIRD PARTY LIABILITY insurance. Somebody steals my bike I walk home.

I hit someone, or damage anything and I'm judged liable, (in theory) I'm covered.

Has anyone made a claim on a Cycleguard Third Party policy ?? And they paid up??


There is not one day cycling in London I don't count at least 3 people who step of the gutter without looking to the right. You hit these clowns, you're the one who'll come of worse from the accident when you hit the road, and in court.

As far as cycle theft insurance goes the fine print does say it all. The ENTIRE bike has to be STOLEN (not stripped of parts) or 'vandalised beyond repair', which means that the frame is so physically deformed it's deemed by the assessor to be a write-off.

Pervesely then, providing you secure your bike with 'approved' locks and it was stolen, you will be compensated. Lock it up so they can't easily steal it, you force them to take the next easiest route - which is to strip it. Only now you get nothing, and have to buy all the parts to repair it.