A few years ago I was struggling to find home insurance which would cover my bikes to their true replacement value. I discovered that many would only insure bikes up to £500 which would not cover the cost of my wheels!
Eventually I chanced upon Marks & Spencer who covered them for £4000 each at no extra cost to my home insurance and at a reasonable premium.
Unfortunately I had one bike stolen from on top of my car last year. M&S kindly paid out £4000 for a replacement but as you might expect my renewal premium went through the roof.
I thought I’d shop around for something cheaper. I was amazed to discover that not only would each company I tried not insure the bikes, they would not insure my house and contents at all!
Why? Because the bikes are a high insurance risk and potentially I put my home at great risk because I have them on the premises thus inviting a break in. So even buying cheap home insurance together with specialist bike insurance from elsewhere is not an option.
So how do others cope with owning expensive bikes? It seems that merely by owning them I become uninsurable!