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Where to get bike insurance

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Argonzero

Chimp
Nov 25, 2002
66
0
Garden Grove
Hello everyone,

I was wondering if anyone insured their bike. I know you can do atvs,motocycles, bla bla bla... There seems to be a lot of companies offering it in the UK, but i was wondering if anyone here in the states bought any? Im looking to insure mine, so im just looking for any imput.

Argonzero
 
TN

TN

Hey baby, want a hot dog?
Jul 9, 2002
14,301
1,353
Jimtown, CO
when mine are in my apt. they are insured by my renters insurance. Some homeowners will cover them outside of "home". I dont know about actuall bike insurance though.
 
Velocity Girl

Velocity Girl

whack-a-mole
Sep 12, 2001
1,279
0
Atlanta
Mine are covered under my renters insurance weather they're in the house or not. The one thing they said is that you have to make a reasonable effort to protect them from being stolen when they're not in the house (ie: locking them up).
 
Hawkeye

Hawkeye

Monkey
Jan 8, 2002
623
0
Naperville, IL
Many companies homeowners policies will cover the bike with a deductable. However you will probably only get a fair market value. Some companies offer a valuable articles policy to cover bikes, jewely, etc. the problem is they are very procey approx. $10 - $15 per $100 of coverage.

i.e. Specialized S-Works Epic $4880

Insurance $488 - $732 a year.
 
RhinofromWA

RhinofromWA

Brevity R Us
Aug 16, 2001
4,622
0
Lynnwood, WA
Renters insurance I have found covers full replacement (no depreciated) thru Allstate atleast. I was very direct with the insurance agent. He had a brother who had "expensive MTB's" and said it would be for replacement not FMV. I know kids that have recieved 100% retail for their clapped out bikes that were stolen.

My renters Ins was around $150 or so a year....:think: but I can't remember for sure. It sure the hell beats my car insurance. :)
 
WestCoastHucker

WestCoastHucker

RETSUBDUHT
Oct 23, 2003
3,564
716
daydreaming about a new rhythm line.....
Originally posted by RhinofromWA
Renters insurance I have found covers full replacement (no depreciated) thru Allstate atleast. I was very direct with the insurance agent. He had a brother who had "expensive MTB's" and said it would be for replacement not FMV. I know kids that have recieved 100% retail for their clapped out bikes that were stolen.
Click to expand...
yup, renter ins is the way to go. i made it clear that i have a few several thousand $$ bikes, and there was no special things i had to do.......
 
recidivist

recidivist

Monkey
Aug 29, 2002
283
1
Soquel, Cali
I've got renters. Hope I never have to use it.

When you get a policy, be very clear what you're trying to protect. For, example, on my policy, all bazillion dollars of bikes are covered when they're in my apartment, but I only take 10% with me (10% of bazillion = about 1 bike) in cases where it's stolen from my car, rack, etc.

And yes, they're going to check if you did your part and actually tried to keep it secure.

Uh, yeah. I think I pay about $4 per $1000, though I don't recall my deductible. Great deal.
 
G-Cracker

G-Cracker

Monkey
May 2, 2002
528
0
Tucson, beatch!
I had my mountain bike stolen last week and it was covered under my Renter's insurance. I just got a call from my insurance company and although they did calulate for decrease in value, they were willing to give me $30 less than what I paid for the bike, including all upgrades.

Minus the deductible, and I've got a reasonable chunk of change to put down on a new bike. It's a hellova lot better than starting over from $0.

Really, there is no reason NOT to have Renter's insurance. You may not need it but it really is not that expensive, and I went for the lower deductible, too.
 
Hawkeye

Hawkeye

Monkey
Jan 8, 2002
623
0
Naperville, IL
Allstate now tries to fight paying all claims and then tries to get you to use their certified repair/replacement shops. Some people don't mind that but when you are tring to repair somethings people do care.

I have a friend that had a auto claim with Allstate and they made him use some hack shop, now if you look at the side of his truck it looking like a flag waving at you from all the body filler. He has taken it back 3 times for reapir and Allstate has stepped aside in the claim.

Being in the industry I hear horror stories about them all them time. That being said you can screw any company with a good bike shop.

"yeah my trek had full XTR with Hope brakes and it was custom fit and painted, signed by Lance Armstrong"

In my area we are forced to carry $1000 ded. to offset huge premiums. so if my bike gets stolen I need to pad my claim a lot to make it worth claiming.

The scheduled coverage I was refering to has $0 ded. and also has a inflation clause to raise the price up to 150% of the item in case of loss.
 
Velocity Girl

Velocity Girl

whack-a-mole
Sep 12, 2001
1,279
0
Atlanta
My insurance is replacement cost as well (that's what I've been told, I haven't had to make a claim on the bikes yet thank goodness) and I have a $100 deductible. My insurance is thru USAA. I hear so many horror stories of people and I'm very happy to say that I haven't had a problem with USAA to date. I've made some claims for lost/damaged/stolen goods and only once had some glitches in the process and didn't get my check for about 3 weeks instead of the normal 1-2 weeks. Also helps that I have car and renters thru the same company....if the car gets broken into/stolen...you just send them the list, they divy it up themselves as to what falls under what policy :)
 
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