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Discussion Starter · #1 ·
I just finished going through the numerous Insurance for my bike threads, but hardly anybody provides their insurance company name. Names of online retailers are always included, and often times LBS names are listed on threads, but I'm having a hard time finding name of insurance companies.

I just found out that State Farm will NOT cover higher end bikes. I have one nice road bike and two nice mountain bikes and I'm not sure I could even get $1000 for them from State Farm.

So, for those of you who have homeowners insurance that covers your bike, please let us know what kind of coverage you have and from what insurance company this coverage is provided.
 

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Your agent is not exactly right. I was a homeowner's claim adjuster for State Farm for several years. Which is the policy a bike would be covered under. It is covered for certain perils (16 if I remember right), like fire, wind, water, theft, etc... Your agent should be able to show you this in your policy. It may be subject to a special limit (if they've changed the policy), of say $1,000 or something. If applicable, this would be listed under "special limits of liability". I think you need to challenge your agent a little more on this one. You may also be able to an endorsement (a personal property floater) to your policy to increase it's coverage on your bike and the amount of covered perils.
 

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Discussion Starter · #3 ·
1996cc said:
Your agent is not exactly right. I was a homeowner's claim adjuster for State Farm for several years. Which is the policy a bike would be covered under. It is covered for certain perils (16 if I remember right), like fire, wind, water, theft, etc... Your agent should be able to show you this in your policy. It may be subject to a special limit (if they've changed the policy), of say $1,000 or something. If applicable, this would be listed under "special limits of liability". I think you need to challenge your agent a little more on this one. You may also be able to an endorsement (a personal property floater) to your policy to increase it's coverage on your bike and the amount of covered perils.
Thanks for the information. I never actually get to talk to my agent, his secretary seems to do everything and she is not the friendliest person. When she called me back to tell me about coverage on my bikes, she said "Evidently State Farm is not in the business of insuring bikes, but let us know if there is anything else we can do for you." Her conversation was done at that point. My follow-up questions were met with a lack of knowledge about anything other than the fact that she couldn't help me.

We've been with them for a long time >10 years and received crappy service, but pretty good pricing, so this may be the last straw. Considering moving everything (home, car, supplemental, etc) somewhere else.

Recommendations are welcome.
 

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State Farm is the cream of the crop for taking care of their insureds. Having worked there, they always give the insured (client) the benefit of the doubt. (individual results may vary). But I can't speak for your Agent, sorry bout him, you could always just transfer your policies to another SF agent.
Currently I'm with Allied (subsidiary of Nationwide) - only because my dad is my agent and that is the best company he sells. Otherwise I would still be with State Farm. Not always the cheapest, but the best claims service. Here is the response I just got from an email to Allied:
Dear Customer,

There are no special limits for bicycles on the policy but it would be subject to the $1,000 deductible on the policy. Thank You

Sincerely,

Matthew Wyant

Policy language is pretty generic from company to company, just with little tweeks here and there.
 

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if there is any way you can get a policy with USAA, they are by far the best insurance company around. markedly better than state farm. i had a major house robbery and they covered my bike (2500) without any receipts etc. catch is that you or parent has to have had military service.
 

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jspharmd said:
Thanks for the information. I never actually get to talk to my agent, his secretary seems to do everything and she is not the friendliest person. When she called me back to tell me about coverage on my bikes, she said "Evidently State Farm is not in the business of insuring bikes, but let us know if there is anything else we can do for you." Her conversation was done at that point. My follow-up questions were met with a lack of knowledge about anything other than the fact that she couldn't help me.

We've been with them for a long time >10 years and received crappy service, but pretty good pricing, so this may be the last straw. Considering moving everything (home, car, supplemental, etc) somewhere else.

Recommendations are welcome.
gah, transfer offices and tell them why.
I emailed my SF agent after reading this thread and had a reply confirming coverage within 2 hours, from himself.
 

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Discussion Starter · #7 ·
formica said:
gah, transfer offices and tell them why.
I think we are planning to transfer to another SF agent. However, I don't think my agent deserves an explanation. I've never talked to the guy. I once called and asked to speak with him and his secretary just responded by saying she could help me and then pass on the information.

State Farm is the cream of the crop for taking care of their insureds. Having worked there, they always give the insured (client) the benefit of the doubt. (individual results may vary).
We've heard they have great service, but we have not seen it. When my wife and I were in school, she was in an accident. Hit from behind, because a giant roll of paper fell off a truck and she had to stop suddenly. We never received our deductible despite it clearly not being our fault and both drivers (car hitting us and truck dropping paper) had insurance. When I tried to call the agent for our deductible, I was given a phone number to call. It was some department that attempts to claim money from other insurance companies. I was told by the person on the phone that I could kiss the money goodbye, because they rarely get that money back.

My friend had similar situation, their agent personally called and handled the situation. He reassured my friend that she would get her money back and told her not to worry about it.

I wanted to change insurances then, but my wife didn't want to change, so here we are.

Thanks for the replies.
 
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