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Bike insurance - E&L insurance - MUST READ!

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.


  • TommiTriTommiTri Posts: 879
    argh, this is why I hate insurance companies, surely they could have just increased your premium? We pay them huge amounts of money over time and most people rarely claim without genuine reason.
    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.
  • jonEjonE Posts: 1,113
    Can you not insure it under Mrs. CH 's name,unless she has been refused,or put it on the house insurance as a single item excess.
  • md6md6 Posts: 969
    CH you have to complain about that - they need to explain their reasons for refusing to renew your insurance - an 'audit' is not sufficient reason as far as I can remember. Also, have you paid your premium since they didn't renew? If you have hten you can argue that in accepting your premium as usual you are within your rights to conclude that they had renewed the policy and therefore they should honor the policy. If they do, I would suggest that you arrange another insurance company asap and switch to them, to avoid the refused insurance tag.

    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.
  • FlavadaveFlavadave Posts: 749
    So insurance companies only want to insure people who don't claim is that right? Bloody ridicularse.

    Insurance companies...
  • md6md6 Posts: 969
    Flav, that's about the size of it, they want to insure people who aren't going to claim otherwise they don't make money...just like banks only want to lend to people who don't really need to borrow it at the moment.
  • They are renowned in the "horse world" as a bad insurance company and should stay well clear of.....
  • JulesJules Posts: 987
    Have you shouted "do you know who I am?!" down the phone at them?

    Insurance companies are bastards generally.
  • JulesJules Posts: 987
    More constructively, this is particularly unfair if your bike has been broken when in the care of an airline.

    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.
  • JulesJules Posts: 987
    Conehead wrote:
    Anyone know where you can get the info from on the BTF website?
    No idea, it's one of the worst websites I've seen. Information for people who already know what the answer is. See my Hierarchy of Races thread Sorry that's not much help.
  • gingertrigingertri Posts: 277
    I got mine through: http://www.triathloninsurance.co.uk/hom ... de=&affid=
    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!
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