Should the building insurance cover bike theft?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Should the building insurance cover bike theft?

    Hello,

    I recently moved into a new flat in a building which has a private courtyard with a bike shed in it. I locked my bike in it.

    A couple of weeks ago, two men forced open the courtyard gate, the shed and cut the chains/locks of two bicycles, including mine.
    I did not have contents insurance at that point yet.

    I filed a report with the police, they even have the CCTV footage where at least one of the thief's can be seen clearly.

    The property management company said this would not be covered by the building insurance.

    Is there anything I could claim?
    I know for a fact that the courtyard gate was not 100% secure, and has as far as I know not been fixed after the theft.

    Thank you!

    #2
    A bike is not part of the building so there would be no cover under a buildings insurance policy. You would need some form of contents insurance to make a claim for theft of a bicycle and it sounds like you unfortunately did not have this cover in place at the time.

    If you are suggesting some form of claim against the management company for poor security then I think you will struggle. You said "forced open" the gate which suggests it wasn't wide open. Even if it was, I think ultimately the responsibility of securing and insuring your own contents ultimately lies with you.
    Steve Smith - Company Director at a leading Landlord Insurance broker with 20+ years experience in the industry
    LandlordZONE Verified Poster and Topic Expert for Landlords Insurance since 2009
    See my profile for contact details

    Comment


      #3
      Blocks of flats policies often have public liability elements as well as building elements, but there would be no liability if all reasonable measures had been taken to secure the area, and I'm not sure if the residents would count as the public.

      In the unlikely event that you exceed, expect the rapid appearance of "cycles are left at your own risk" signs.

      Comment


        #4
        Thanks a lot for the responses. That's what I thought.
        Shame.

        Comment


          #5
          Check your bank account, if you are paying a monthly 'fee' then it may include some kind of insurance, which may cover your possessions.

          Comment

          Latest Activity

          Collapse

          • Rent Guarantee Insurance
            by oi2004as
            Hi

            I would be interested in your view on the following

            I received a renewal Legal & Rent Guarantee Insurance documents from Rentguard (which initiallyy I purchased through Openrent)

            There is the following condition in their 'statement of fact':
            "The...
            11-07-2020, 11:59 AM
          • Reply to Rent Guarantee Insurance
            by tatemono
            that's the rent guarantee insurance we use and which has worked for us for many years....
            13-07-2020, 20:58 PM
          • Reply to Rent Guarantee Insurance
            by AndrewDod
            No 7.1 will not likely stand up in court. You cannot have open ended guarantor deeds that apply in this way robustly.

            The fact that you have said that it will apply also to unknown rental increases, for an unknown term, and covers unknown costs means that it is likely invalid
            ...
            13-07-2020, 19:39 PM
          • Reply to Rent Guarantee Insurance
            by oi2004as
            To jpkeates
            This is not about zero-risk option. The part which I do not like the most is that I become tenant-dependant for buying insurance.
            They may not reply to my email about their circumstances
            They may not provide correct information
            They may not allow to run re-referencing...
            13-07-2020, 19:14 PM
          • Reply to Rent Guarantee Insurance
            by theartfullodger
            HOW was the guarantee documented please? Enacted as a deed? Guarantor credit checked, given AST & guarantee and advised to take legal advice prior to signing, please?...
            13-07-2020, 19:06 PM
          • Reply to Rent Guarantee Insurance
            by oi2004as
            To AndrewDod
            I have a guarantor on this Tenancy Agreement.
            This is 12-month fixed and then becoming rolling (monthly) contactual agreement.
            The guarantor is a party to the agreement (signed)
            The agreement has the following clauses:
            7.1 In consideration of the Landlord agreeing...
            13-07-2020, 19:00 PM
          • Reply to Rent Guarantee Insurance
            by jpkeates
            I think you're looking for a zero-risk option, but property letting is an investment business with risk baked in.
            I don't blame you! But I think you're going to struggle.

            Like all of us, the rent guarantee insurance sellers didn't see the pandemic coming, and it wasn't covered in...
            13-07-2020, 16:25 PM
          • Reply to Rent Guarantee Insurance
            by AndrewDod
            If a guarantor agreement is valid at all (which is a BIG if) it is not going to be valid past the initial fixed term (no matter what it says) - so as much use as non-stick Sellotape or Jeremy Corbyn....
            13-07-2020, 16:08 PM
          • Reply to Rent Guarantee Insurance
            by Boab
            I doubt anyone in this town has ten years rent. I’m obviously being Uber selective on tenants , but I also wondered about guarantors as well. Does a guarantor have the absolute obligation to cover rent defaults or can they avoid paying as well?...
            13-07-2020, 15:47 PM
          • Buildings & Contents Insurance - Recommendations
            by landlord-man
            Can anyone recommend a broker / insurance provider? I have a 1st floor property with 4 flats.

            I'm looking for recommendations on who provided a fair quote but also any recommendations on companies who actually paid out a claim promptly / fairly.

            Thank You...
            13-07-2020, 10:57 AM
          Working...
          X