Mountain Biking - How does one get a bike insured?

(this was mentioned in another thread)

I was curious as to how many of you have your bikes insured. What is covered? (ie, theft, crash damage, weather)
How much does it cost?

What companies out there cover bikes?

ANy pros and cons?

I was going to insure by bike on my home owners insurance, unfortunately the premium was anually about 30% of what my bike was worth.

Instead I just keep my bike in the basement and don't leave it outside locked up... that's what a beater is for.

Mine is covered through my Met Life Renter's Insurance. I didn't have to specifically add it on, like say a wedding ring (that's a special coverage). The representative was telling me that it's covered for theft or damage whether it's in my garage or on my roof rack of my car. If I'm riding it and I get hit by a car and it's damaged it's covered. But now if I crash it myself while riding or I pull into my garage while it's still on my roof rack, I don't think it's covered.

Do you have renter's or home owner's insurance? I'd start there. Or call up companies that deal with renter's and homeowner ins. and ask about just the bike. Then get all the details of what would and would not be covered.

I have renters insurance,and as long as It is in the apt or on the premesis of the apt that I live in it is covered. Even If I leave it outside, but the stipulation is that If it is outside it has to have an approved lock. But my bike is strictly kept indoors.

It is covered under my homeowner's insurance. It is considered personal property. No extra charge-

No no no.

Im talking about insuring the bike specifically. Im aware that homeowners insurance will cover just about anything in your home....however, thats not where im worried about my bike being stolen from.
Can you get insurance on the bike itself? I mean, i know you can insure a motorcycle, and my MTBs are worth more than my dirtbike, which i know can be insured.

Anyone got any info?

Though I haven't looked into it very far I know McKay Insurance Agency (http://www.mckayinsagency.com/) has some cycle-specific insurance. My bike isn't worth enough to have it insured though. And I'm not sure if it would work in Hawaii cos the company is in Iowa or something.

thanks for the link:)

I have "all risk" insurance on all my gear including bikes, kayaks, canoes, climbing gear etc... It is all covered by my home owners insurance and insures against theft, damage, or anything else that might happen whether or not it is on the premises or not. The deductible is $500.00. Well worth it if you have good equipment.

I have had to use the insurance twice (both times due to theft) and have not had questions asked at all except the time I reported two sleeping bags worth $1000.00 each missing. Once I showed them what a good bag was worth they replaced them as well without further question.

Good luck!

Originally posted by BurlySurly
No no no.

Im talking about insuring the bike specifically. Im aware that homeowners insurance will cover just about anything in your home....however, thats not where im worried about my bike being stolen from.
Can you get insurance on the bike itself? I mean, i know you can insure a motorcycle, and my MTBs are worth more than my dirtbike, which i know can be insured.

Anyone got any info?

I have renters insurance but decided to place special insurance on my Brodie after I bought it. The primary reason for doing so was that I did not want to pay a large deductible if it is stolen. My bike is my transportation. I cannot afford another $500.00 (original deductible without extra insurance) to buy another one.

No I have no deductible on it and it is fully covered regardless of where it is stolen from. I pay $2.00 extra per month for this.

Having said that, I keep my bike in the apartment and it is never locked to a rack when I take it out. I have my old bike for that purpose.

I would suggest you talk to a few local insurance companies and ask them specifically about bike insurance.

Justen

Check your homeowners insurance. I recently switched mortgage to the Nationwide in the UK and I put my Gemini onto the homeowners as an all risk upto full replacement value. All I had to do was give them a valuation certificate and they added the bike on to the schedule and there was no increase in premium.

Worth checking out.

To the person who originally posted - as you probably guessed, you will have to provide a receipt or some sort of proof that your bike is worth as much as you are claiming, to the insurance company.

Justen