With bicycle theft remaining ripe in London, it’s important to know when you can and can’t claim on your insurance. Knowing is the difference between an inconvenience and a major hit to your bank account and ability to get around London. It will also make a difference when thinking about how you are securing your bike.
I decided to speak to ETA to ask about the difference scenarios where a claim on the bicycle insurance would be possible. Why ETA? They are consistently the most friendly bunch and I’ve had good feedback from readers on the service they provide.
Let’s dive right in to some common scenarios..
Does insurance cover bicycles that are left locked outside overnight on a regular basis? (E.g. a cyclist who cannot store his bike indoors at home)
Yes, bikes would be covered if left outside overnight on a regular basis. The ETA covers bikes for a maximum of 12 hours anywhere if the bike is locked to an immovable object. We also cover bikes stored in secured sheds and we don’t ask for the sheds to be locked with specialised locks, which some insurers require.
If you want to store your bike at a train station overnight, the ETA will cover your bicycle up to 24 hours, as long as it is securely locked through the frame with a Sold Secure rated lock.
We have found that some insurers don’t allow bicycles to be stored away from the insured address for more than 12 hours, which is not a restriction the ETA put in place. It is important for cyclists to check storage requirements when comparing cycle insurance, as some insurers apply specific exclusions to where bikes can be stored.
On a £1000, 6 month old bike how much would ETA typically pay out for replacement?
The ETA replaces ‘new for old’ on all insured bikes, no matter the age of the bike. In cases where the same model is not available the ETA will look to providing a like-for-like replacement (equivalent specification) or alternatively, reimburse the insured with a cheque up to the amount insured less excess in order that they may source their own replacement. It is common for some insurers to only replace ‘new for old’ on cycles up to three years old and older bikes are subjected to a yearly depreciation.
Would a bicycle stolen from a locked garage beneath an office be covered?
The bike would be covered if stored in a locked garage, out of sight, and only the owner of the bike had access. If other people have access to the garage, the bike will need to be locked to an immovable object to be covered.
If your bike is stolen from a cycle stand on a public road would this be covered by insurance?
Yes, if the bicycle was securely locked with a rated sold secure lock through the frame and not left for more than 12 hours, then the bicycle would be covered. The ETA also covers the wheels if they were to be stolen, which is not included by some providers. We recommend our customers try and lock the frame of their bikes as well as the front wheel, especially if the wheel is quick release; however, we understand that sometimes it is not always possible to lock the wheels and the frame.
If a bike is stolen from inside a house but it wasn’t locked would this be covered?
Yes, the bike would be covered if stored out of sight and there is evidence of a burglary.
If the bike is stored in a communal hallway, where all external doors are locked and the bike is locked to an immovable object through the frame, then the bike will also be covered.
Any more questions?
Hopefully the above clarifies some of the typical questions about when you can or can not claim on bicycle insurance. Obviously, this will vary depending on the provider. If there are any more questions that I haven’t covered then I’d be happy to try and get answers for a couple of them from ETA.
Also see our post on bicycle insurance.
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As seen on The Guardian, BBC and The Independent.