Breakdown cover/bicycle equivalent on Monzo premium

Please add breakdown cover for a car or bike to the monzo premium account to match nationwide flexplus which is already cheaper.

Ideally something people can choose. Cycle insurance would be great for me. But others may want motor breakdown cover. Or a specialist bike breakdown cover for emergencies.

This just isn’t going to happen.

They’ve set it at £15 with what it includes. They won’t add things that cost.

Maybe one day there will be a pick and mix option but as that didn’t work before, I think it’s going to be Plus and Premium. They may add tech things that they can do for “free” but things that add a bigger cost won’t be coming and it still being £15. Then you’d have Plus, Premium and PremiumPlus. Messy!

Hopefully you’re wrong as I think they’ve got it wrong again. Most of their customer base are younger and tech savvy/not scared to switch bank account.

Most people look at the monzo offer Vs the nationwide flexplus offer and it’s just not as good. So I don’t think it will succeed without at least matching it.

I can see their customer base paying £2 more a month for it to be with monzo - rather than the £13 with nationwide. But not if it had missing features

Well lots of people are joining and paying. If they wanted to directly compete with that Flex account they could/would have.

I’m not sure what bike breakdown cover would look like, I can usually fix my bike for free :smiley:. But bike theft cover would be good for me, although I suspect it’s a bit niche, and a bit difficult to put in a package as the cost of bikes people want to insure would vary from £150 - £6000, so any bundled package is going to appeal to an even smaller market still.

Breakdown cover has been probably the most asked for thing so far though.

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It’s a nice idea, particularly for those of us who choose to get around on two wheels. However, £15 buys a whole lot of cycle insurance. I had two bikes, valued at £1000 each on the same policy, covering theft and injury (already had liability with CyclingUK) for under £10 per month.

Arguably better off with the basic account and sourcing your own cycle insurance.

(As well as sticking £1000 in a pot to repair or replace your phone!)

Would save me paying for it and the the option of either would make it good for both rural people and those in cities.

Tip RAC take tesco points.

I doubt this will happen. As I see it, the advantage to the insurers is that some of the people paying will never be in a position make a claim. So those who never travel, but want to pay £15 for a metal card and phone insurance, help the travel insurance provider reduce the cost for 1 million policies, for example.

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