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Anyone insure their bikes? Re read my policy language on my auto policy and my bike wouldnt be covered if I got into an accident, so if anyone does insure them how do you do it? Additional on home owners or renters Insurance?
 

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Covered under Home Owners

wheelgunz said:
Anyone insure their bikes? Re read my policy language on my auto policy and my bike wouldnt be covered if I got into an accident, so if anyone does insure them how do you do it? Additional on home owners or renters Insurance?
I had called my agency 4 years ago when I bought my first expensive bike, and they said they were covered under homeowners, not Auto. Even if stolen out of car (I take it to work and leave it in the car during the summer to go to trailhead right after work), homeowners covers the bike. It is considered just part of personal property, like your TV if it gets stolen. Didn't make real sense to me, but that's what they said.
 

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Read your homeowners policy carefully. Most put a monetary cap on the amount covered. If you end up with more than one bike OR one really expensive bike, you'll likely need a rider (haha) to the policy to cover them individually.
 

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Years ago I had my week old bike stolen off the rack on the top of my car. Even though it was taked off my car, my renters insurance covered the bike, but my auto insurance covered the damage to the vehicle where they screwdrivered the rack mount/lock.
 

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Some companies offer policies that cover specifically more expensive items for a fairly small amount per month.

Since I'm a vet, I use USAA and I've been checking with them on this and their policy starts around $4 per month with no deductible, and it covers the cost of replacement. I once had a similar policy from them on my computer systems. One night lightning blasted my phone line and completely obliterated one of them, and they paid in full for the cost of replacement.

Definitely worth checking into.
 

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In my experience it is cheaper getting quotes online. Some of the bigger companies offer discounts when ordering online, because it is less work for them. But to be safe you could compare quotes online, pick the best offer and try a local agency to see if they can match it or do better.

I recommend this site for online comparing: www.quotes-center.com
 

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brian964 said:
In my experience it is cheaper getting quotes online. Some of the bigger companies offer discounts when ordering online, because it is less work for them. But to be safe you could compare quotes online, pick the best offer and try a local agency to see if they can match it or do better.

I recommend this site for online comparing: www.quotes-center.com
Spam anyone?

My renters insurance covered my stolen epic. Unfortunately instead of actual purchase price they "shopped around" to find the cheapest replacement prices for the bike and parts. Somehow they found a place selling xo rear derailleurs for a frakking penny, so that's what they paid out on it. Never mind I spent 190$ on it on sale.
 

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One more thing...

When you get a quote, make sure you're including accessories. It's one thing to pay a deductible on a $2,500.00 bicycle replacement only to find out that the $50.00 carbon cages and the $300.00 computer and the 100.00 pedals aren't including in a bike replacement.

Insurance is a tricky game, which is why they're included in my "axis of evil" with attorneys.
 

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JD1 said:
Read your homeowners policy carefully. Most put a monetary cap on the amount covered. If you end up with more than one bike OR one really expensive bike, you'll likely need a rider (haha) to the policy to cover them individually.
This.

I mentioned to my agent that I had a number of bikes, some worth many thousands. While he was blown away that bikes could cost that much, he's also a good man, and said immediately (after the shock wore off) well, if I didn't believe it, the company won't believe it either, so let's get you a rider, is $20K sufficient? Yep, like the way my agent thinks. :cool:

No charge either. Allstate, fwiw.....

And if you don't own a home, renters insurance is about the cheapest game in town. Why it took me 10 years of living on my own to discover it, I've no idea. And, my rider transferred easily from renters to homeowners when I made the switch.
 

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Can anyone recommend a company that does specialist bike insurance and will cover aftermarket parts.

I have a Cannondale F800 equipped with SRAM XX and other various shiney after market parts. I want to find a company that will insure it and will actually replace the bike like for like. If it got stolen and they gave me a standard 2nd hand F800 I wouldn't be happy.

Standard Cannondale F800: £1800 in 2005.
- 10% for every year, so £720.

With all my after market parts, it brings the replacement cost of the bike up to £3049.71.

Could anyone recommend a UK based insurance company that can cover this?
 

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I've got a similar question as BoostN7 (I'm in the US though.)
How would insurance handle, if my bike was stolen from me on the trail?
Is that something that can be covered under homeowners, or a rider on it?
Or could the insurance company write up a separate policy for something like that?

Not that I'm too worried about this, but as I invest more, and more into my trail bike, it has crossed my mind.
 
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