Man buys back his stolen bicycle

A man has bought his own stolen bicycle back from a thief rather than face an exorbitant excess on his insurance policy.

Man buys back his stolen bicycle

Mark Robinson told the Cambridge News “My insurance premium excess would have been more than this so the simple maths said it would be cheaper than getting a replacement by whatever means, and furthermore by recovering the bike, provide the police with incontrovertible evidence that the ‘seller’ if not guilty of the theft itself was certainly guilty of receiving and handling stolen goods.”

When Robinson reported the theft to police on April 13 he was told by officers to look for it on auction websites and Facebook.
Within a week the £800 bike turned up on Gumtree priced at £400.

Robinson responded to the ad and paid a cash ‘deposit’ of £200 to test-ride his own bike. This he did, and rode it straight to his car before driving home.

Cycle insurance – the devil is in the detail

On the face of it, one cycle insurance policy is much like another, but the devil is the detail. How much excess you will be charged is just one of the things that varies wildly between providers. Another is so called ‘new-for-old’ replacement – many insurers use the term, but if your bicycle is more than a few years old, devalue it if it’s stolen. This means you are left out of pocket when you come to replace it.

ETA cycle insurance has a low standard excess of 5% (minimum £25) and offers a new-for-old for life – how ever old the bike, if it’s stolen you get enough to buy a new model.

For 25 years we have been providing straightforward, affordable bicycle insurance. Whether you use your bike to commute, shop, race or amble in the park, ETA Cycle Insurance has you covered. We never devalues bikes no matter their age, allow you to buy your replacement bike wherever you like, replace stolen quick release components and we handle claims in-house. Can your insurance provider say the same?

Furthermore, every cycle insurance policy you buy helps support the work of the ETA Trust, our charity campaigning for a cleaner, safer transport future.