General Cycling Discussion - My bike isn't covered under insurance.

I was in an accident about 4 - 5 weeks ago, and my bike was kind of damaged. Frame bent in two places, left crank arm bent in, handlebars bent down, and who knows what else.

Well, I was on my way home today with my dad and it turns out it was not covered under insurance.

Sucks.

Was the accident your fault, or someone elses ?? If it was someone elses... it is normall up to their insurance to take care of things

Jeff

Not knowing where you live, it is hard to venture a guess as to the specifics. In the US, damage to a bicycle, if not paid for by another party, is generally covered under home owners or renters insurance, since a bike is considered just another piece of household goods.

One thing to consider is that if you have a high deductable on your insurance, it may not be worth it to claim the damage at all.

Paul

i learned this in my personal finance class, but some car insurance covers you as a pedestrian or as a cyclist... of course it depends largely on what your car insurance is and what your plan is but it's worth checking...

Hopefully you'll get it covered somehow.

As soon as my bike is done, it'll be on my insurance. I just hope they cover full retail price instead of adjusting for depreciation and such.

I would hate to lose all of my money with the bike.

They would probaly adjust for depreciation.

Bac that is a option you elect to in you're policy do you want replacement value or the depreciated value, talk with your insurance agent. If they only give you the depreciated value ask them to change your policy should not be much more per month.

Dual faults, and the fact the people that hit me have: nothing - doesn't help that much.

It *SHOULD* have been covered, but it's not. Long story.

Now feel sad for me.

Sorry to hear about your accident and subsequent insurance issues. :(

It reinforces to me, when I do get that brand new bike, I plan on insuring it to the max- I want to get a really nice road bike, and I would be upset if I got hit, it got stolen, or somehow, some kind of damage was done to it and I couldn't do anything but cry... :(

The feedback I get from others, bikes are difficult to insure. Lots of homeowner policies out here exclude bicycles.Particularily from theft. Mine is not covered, except in cases of fire. that is why I have them padlocked to a bolt in the concrete floor of the garage. Burglars would have to be determined, I hope.

Originally posted by AquariaGuy
They would probaly adjust for depreciation.

I doubt it. All my bikes are under insurance and if something ever happens, no matter when it is, the full price will be covered. It may be depends on the insurance, though.

with my other hobby, i got insurance for my equipment and the insurance lady told me that if something happens, they will try to get it repaired or if not, replace it with the same thing... so i guess that depreciated value policy...

Ok; update.

There may be a chance it is covered - but nothing is in stone until I get a check for $850.

Another thing I looked into was whether I was fully covered for replacment like-for-like or a depreciated amount. My insurance company in the UK wanted a full valuation certificate which I got from the lbs to cover my Gemini and SRAM XO upgrade. Right now if my Gemini got nicked I'd actually get a better model in return, Lefty Max for example.

Sorry to hear you have the problem though.