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I'm a new cyclist and new to this forum; hi! I forgot to mention I live in the UK.

I am going to get a cyclocross bike from Evans for just less than £1000 and accessories. I'm mostly concerned about my bike here though. {Though if accessories can also get covered, then great!}

I spoke to the Evans guy instore and he said their insurance likely (he wasn't too sure) covers the price of the bike when it gets stolen and not the original price. As I understand, this is exactly how car insurance works as well. Others I have spoken to have said the same, that this is the norm. And Halfords unfortunately don't even offer any kind of insurance. At least that was what the employee instore said.

So I pay £1000 now and 1 year later, if it gets stolen and I pass all their rigorous checks to prove I'm not ripping them off and it was actually stolen, they will insure the price of the bike as it is when it gets stolen. This is disappointing to say the least. I would at least hope they'd offer price-matching gift cards for a new bike. This is how I'd expect insurance to work. Is this unreasonable? (Not a rhetorical question).

Does anyone know if I can get a price-matching insurance from a third party? Is this even offered anywhere? If not, why not? I'd hope with the high crime rates insurance policies would be more considerate of cyclists' wallets. I don't want to get £400 for a new bike if it ends up getting stolen. You can't even get an average cyclocross for that much, maybe a really low quality one. Plus, this kind of policy would just deter others from becoming cyclists. Maybe unless security was to improve but that's a different issue.

Can someone please shed some light on this?

closed as off-topic by Batman, andy256, mattnz, RoboKaren, jimchristie Feb 13 '17 at 13:47

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    AFAIK, most cyclists in the US would just use homeowner/renter's insurance if needed or just deal with it. Learn to lock your bike up properly and lock it up securely and people aren't going to steal your bike. – Batman Feb 12 '17 at 2:52
  • @Batman 1) Forgot to add, I live in the UK. Doesn't home insurance only apply to property that is stolen from within your property? So a stolen bike from the town centre would not be covered? 2) I can definitely get used to properly locking the bike. Also, buying quality locks and an alarm just for safe measure, I have no problem with. But having read up the nature of bike thefts recently, I can't help but feel insecure. Not to mention how easy locks are to break through. – user138072 Feb 12 '17 at 3:00
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    Sounds like a nice bike. I'd never let it out of my sight on a ride. Consider a boring, used rigid MTB as a commuter and all-day park-up instead. – Criggie Feb 12 '17 at 6:28
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    " Doesn't home insurance only apply to property that is stolen from within your property?" No. Most household contents insurance policies in the UK also cover your stuff when it's not at home. However, there's usually a limit on the amount that any individual item or collection of closely related items is covered for, and your £1000 bike probably goes beyond that limit. – David Richerby Feb 12 '17 at 11:27
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    @DavidRicherby you can normally get single high value items included by specifying them when you take out the policy. How much extra it costs is another matter. My bike and my camera kit (similar value) both could be covered on this basis but the combination of cost and restrictions means I choose not to. – Chris H Feb 12 '17 at 19:17