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Bike insurance - E&L insurance - MUST READ!
pataallen
Posts: 94
in General Chat
Whilst that sucks, from their POV a sensible decision driven. You're costing them money, they're in the business of managing risk, you're too risky for them.
In your business if you had a customer that was costing you more money than you thought worth you would almost certainly do the same.
In your business if you had a customer that was costing you more money than you thought worth you would almost certainly do the same.
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That said our insurance company is fantastic, nfu mutual, because my family has been with them for as long as I can remember they treat us very well. I recently lost my garmin 305 in the triathlon in the lake district, it popped off and i didn't realise so I wasn't gonna go try and find it, but they replaced it no problem with no excess as well.
Take it to the financial ombudsman after as they won't agree (thats just insurance companies). The ombudsman is generally reasonably able to be sensible but i would also add into that you feel they have caused you serious detriment by making your bike almost uninsurable...the omb can force them to honour your policy if they go in your favour. There is a slightl problem in that they will argue this is a legitimate business decision which the omb can't get involved in. But the fact they haven't told you can probably be the way in.
Insurance companies...
Insurance companies are bastards generally.
The ridiculous rules limit the maximum you can get for broken luggage to less than £1000. So anyone flying a bike/skis/wheelchair/golf clubs etc worth over this can end up claiming on their own insurance when the damage was entirely the fault of the airline.
There must be a broker somewhere who can help you, where you can explain things properly to an actual person?
Is it possible to get a seperate policy just for the bike in transit/out of the UK? Is it at all feasible to send the bike as a freight item with a courier, to get it fully insured in transit?
What do elite athletes do? Do they insure their stuff, or do they just expect the company that sponsors them to give them a new bike?
I guess you could partly self insure? BTF membership gives you public liability cover when racing or training, so that covers that. Find a way of covering the bike when you take it abroad, and when locked in your house and at other times just take a chance?
If the bike only goes out of the house with you on it then hopefully no-one will steal it . Then you are risking it being nicked from transition (you could try to sue the race organisers if transition is meant to be secure, depends on what a court thinks of their t&cs I guess) or you are risking breaking it (and you) in an accident, racing or training - where you could claim off the other person if it was their fault. Stick your £40 a month somewhere to build up a fund towards a new bike if the worst happens.
they seem ok to me and are covered for worldwide and stuff! it might not help now, but their prices were ok so maybe in the future? hope you get your bikes sorted!