Bike insurance

The Kalmyk

Well-Known Member
Is there anyone on the board that does such a thing??? This question came up at my LBS as well from a customer that had his bike stolen in Edison...
 

BiknBen

Well-Known Member
Home owner's/renter's insurance is usualy used to cover such things. Be careful though. I've heard of insurers jacking rates or dropping customers completely due to claims for such items.

If you bike is that expensive/important, consider tagging it as a special item in you insurance.
 

sixseven

New Member
A good lock is the best insurance. I keep my bikes chained to a pole with a Kryptonite chain lock. Prevention is the best medicine. Cheaper in the long run.
 

gtluke

The Moped
I'm curious as well. I don't own a home, nor do I rent so I can't get homeowners or Renter insurance. When I'm out taking pictures of you guys I have with my my bike and camera gear. I don't want to think about how much money I'd lose if something were to happen.
 

kush

Active Member
i insure both my camera stuff and one bike. coverage is provided by my homeowners insurance, but its a separate policy called personal articles coverage.

its about 1.5 cents per each dollar covered per year. so if you have a bike that costs $2,000 under my policy it would cost you about $30 per year.

they cover repairs, theft, everything.

when the camera and one of my lenses took an accidental tumble, they covered a $300 repair overnight, no questions asked (just a receipt).

my coverage is with state farm, and they cover everything we have, home and vehicles.

so I'm not sure whether you can get this pricing and coverage on a stand-alone basis.

but if you can get quoted something around this, it makes a lot of sense
 

The Kalmyk

Well-Known Member
Kush...How much of your bike would be covered if it were stolen (knocked on wood)??? Do they consider depreciation???
 

Allamuchy Joe

Not White House Approved
JORBA.ORG
I have a rider on my home owner's insurance for all my bikes. Don't forget, being stolen isn't the only problem -- if you carry the bike on a rear bike rack, what if someone rear-ends your car? If on the roof, what if you drive into a parking garage?

Just some things to think about.
 

stb222

Love Drunk
Jerk Squad
Kush...How much of your bike would be covered if it were stolen (knocked on wood)??? Do they consider depreciation???


In my younger days, a friend and I were street riding in baltimore and we were bike jacked and two thugs rode away with our bikes. My parents homeowners insurnace covered the whole thing minus the deductible. Since I bought most of the stuff from friends and didn't have reciepts, I took a mail order catalog and circled all the stuff I had and I had a check within a week. What an Action Wheels shopping spree that was!!!

I would declare at least on of your bikes (MOOTS!) like Kush said...
 

kush

Active Member
Kush...How much of your bike would be covered if it were stolen (knocked on wood)??? Do they consider depreciation???

The loss settlement is "individually determined", and follows these guidelines under my Personal Articles policy:

actual cash value of your property, or
cost to reasonably repair your property to it's previous condition, or
cost to replace your property with a substantially identical item, or
the applicable amount of insurance.
 

ChrisG

Unapologetic Lifer for Rock and Roll
I just renewed my homeowners policy and was thinking about this very thing. I'm long overdue for looking into this, as I have a couple of bikes in the basement myself.:rolleyes:
 
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