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      CommentAuthorShapps
    • CommentTimeAug 9th 2011
     
    Having just spent a good amount of money on a new bicycle I decided to see what my options were to insure it. I figure if I spent more on my bike than I did on my car and I insure the car, why not the bike? I have a good friend that works for State Farm that helped me out with this. I got it covered under a personal article policy. This will cover the full cost of the bike in the event of theft, crash/accident, or if just happens to randomly up and break. The policy only costs around 5 bucks a month. Seems like a small amount for the piece of mind. Anyway, just wanted to share as I didn't know much about this until yesterday and am glad to have done it.
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      CommentAuthorGeoff
    • CommentTimeAug 10th 2011
     
    I've added mine on my homeowners insurance. This was the cheap and easy option for me. Renters insurance does the same thing for those of you that don't own. Depending on the agency/agent, they'll probably advise you best course of action.
    • CommentAuthorMcLovin
    • CommentTimeAug 11th 2011
     
    I had been wondering about this just recently. When your bike is covered by renters/homeowners, is it covered if it's stolen from somewhere other than your home?
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      CommentAuthorSigurd
    • CommentTimeAug 11th 2011
     
    ... And if theft is covered "off-site", what are their requirements as far as how to lock up the bike?
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      CommentAuthorVelo Cult
    • CommentTimeAug 11th 2011
     
    When I was about 16 I had a bike stolen from my garage. It was a custom built racing mountain bike that was worth about $5k. Because it was stolen from the garage we were able to claim it under Home Owners insurance. Some people will make a claim to their bike being stolen but will lie and say it was stolen from the home when it was not. I got $5000 for the bike and was even offered $200 extra for labor to assemble bike. I thought that was pretty amazing. I'm pretty sure those day's are over though. Insurance companies want to do all they can to pay out as little as possible. $5 a month to insure the bike sounds very reasonable.
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      CommentAuthorGeoff
    • CommentTimeAug 12th 2011
     
    Mine is. However, read the fine print in the contract, as I'm sure it depends on company and agent. I'm with USAA.
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      CommentAuthorShapps
    • CommentTimeAug 12th 2011
     
    Yeah for me my renters is State Farm and he bike would have been mostly covered under that. I asked about limitations on that and my friend told me that the bike would not be covered if stolen from outside the home. It would also not be covered if damaged while ridding. Like if I was riding along and ran into a tree and frame exploded in a ball of fire. But the personal article covers all of that and about any other situation. So yeah as mileco says if you have homeowners/renters insurance you may be all set but check the rules of your policy if it is something you are concerned about.
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    Well what if I don't already have car insurance or home owners insurance, is there a company that offers just bicycle insurance???
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      CommentAuthorSigurd
    • CommentTimeAug 18th 2011 edited
     
    In searching for insurance coverage information, I found this article quite useful.

    Generally, it seems that if you own older bicycles (as I do - of the five bicycles in daily use in my household, none are newer than from 1989), it seems likely that your insurer may pay zilch in case of a theft or loss.

    Please note that coverage details vary from insurer to insurer, and that one needs to check the details as they apply to one's own policy. I am planning to call my agent for the "fine print".
  2.  
    @ Sigurd yea I read that when I was looking up information and it only states about adding it to your motorist insurance or homeowner/ renters insurance and I have neither. All I have is my bike.
  3.  
    Another thread back from the dead but with another direction.
    it only states about adding it to your motorist insurance or homeowner/ renters insurance and I have neither. All I have is my bike.


    That is the case for me as well. However my concern is not about theft or damage but getting liability and uninsured/underinsured motorist coverage. My current bike is not even worth the deductible of most policies--but the odds of being hit by an un or underinsured driver in San Diego scare me.

    So far it seems that non-drivers have very limited options--this specialty program featured in Bicycling Magazine is all I found so far:

    http://spokeinsurance.com/?page_id=157

    It seems OK but with pretty low limits by California standards--anyone know of anything better??
  4.  
    Just got a quote from Spoke Insurance--$275 a year but like I said, pretty low limits. Other searches turned up nothing.