Originally Posted by
Nightshade
Your understanding of how renters insurance works is flawed.
IF you declare the bike as a "Named Item" (i.e. "Rider") to either a renters ,or homeowners policy, then you will have full coverage of the named item (your bike).
yes but for that you have a additional fee for it. so my understanding was fine as i did mention regular policy doesnt have that coverage and you have to add it to your policy. and though im not sure if the depreciation of the value happens or if its a replacement policy. have to ask your insurance provider about that.
edit: is it 30 for 3000 worth of coverage a year? or does that also vary between insurance providers?