Cycleguard insurance: Avoid them
  • Apex cycles on clapham high street (just a bit further on from Brixton). i get all my repairs done for free cos the guys there are legends, especially rick. + i think i've spent around three grand there as i've been going there since i was a wee lad.
  • 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:

    [quote]"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?"[/quote]

    Later on in the cycle insurance thread-

    [quote]"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!"[/quote]

    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.
  • 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.
  • that's bloody useful info - thanks David.
  • Direct Line home insurance paid out for me (they replaced the bike exactly) - there again, the bike was actually nicked from my house (porch). Next time can you break in properly mr burglar - I will show you where my cricket bat is you f*cktard.
  • DO NOT INSURE YOUR BIKE WITH CYCLEGUARD INSURANCE! they are worse than the thieves who'd steal your bike. I'd been paying for over 4yrs when my bike was stolen. I used a silver rated approved Raleigh lock that cycleguard guided me to use, now it was 4yrs old, the thieves merely cut through the cable. Cycleguard wanted a copy of my passport, a copy of my bank statement, some month's later they then wanted my Raleigh lock sent to them which cost me £6.50 in postage. I phoned them up some time later and they stated that the keys were not Raleigh keys? I then told them that considering I no longer have a bike I should stop the monthly payments to them, they told me If I cancelled I wouldn't get my claim only to find out later that they weren't going to pay me out because they now didn't consider the lock to be silver rated. I told them I was going to challenge them and that I wanted them to send me back my lock and keys. This company is an absolute disgrace who shouldn't be in business.

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