Essthreetee

I actually just went through this with a bike that got stolen. It started life as a Schwinn Cutter single speed. I then spent 5 years replacing nearly everything on it (multiple times). Then when I finally felt it was finished....BOOM...THAT day it got stolen.

I talked to my insurance agent, he said make a list of every item I had on it and what the replacement value for each item would be. He then got me a check for that amount, less my deductible.

And yes, I even included my Kool Stop brake cartridges...since they were an upgrade.

Singlespd

Thats what I thought too but then a few good responses above got me thinking about labor costs as well

wrk101

IMHO, you need to have a conversation with YOUR insurance agent or insurance company. Don't rely on opinions on the web, including mine. And depending on your deductible, a lot of the value could disappear. I carry a large deductible where no single bike theft out of my fleet will satisfy the deductible.

eschlwc

he's not selling the bike nor trying to replace it with any ole ebay bike. he's insuring its customized worth, which is its specific replacement value, piece by piece.

good point. the value of labor should be included.

The Golden Boy 

I guess it goes to what the insurance company will do.

If it's covering the replacement of the individual parts, or if it's replacement of a single speed bike.

Chrome Molly

Anytime you want something "vintage and collectable" insured for a fair value it will almost always require a separate rider with a value based upon sales value of like kind and condition items. When something has a value that is more than the sum of its individual parts (like a classic car for example) then you will want to shop around for a "stated value" policy. If you would be unhappy with a receipt based less depreciation settlement, then you may have to forage a bit for the right kind of coverage. While you might not find many insurance companies that will write a stated value policy on something like a bicycle, anything can be underwritten and insured for just about any value. Life insurance is an example of this, where you state the value and they evaluate their probability of loss, then an annual price is calculated. Life insurance for bikes, maybe onto something...

Chrome Molly

If you are looking to get "rolling coverage" in case of accident, then you will need something like a Markel policy. If you are looking to be compensated if it's stolen from your home, then get a rider on your homeowners or listed on your renters insurance. Putting both together provides you a "fuller" coverage for most foreseeable situations, since one will likely pay out in situations where the other does not.

repechage

There is a lot of money in those wheels.

Singlespd

Yes there is lol

clubman 

This makes bike insurance impractical in my part of the world. Mind you,people don't steal here, it's a fantasy land.

Singlespd

I live out in the country so if I want to ride I have to drive somewhere. Its just piece of mind in case something happens if we are eating somewhere after a ride, at the LBS or at a community ride and the bikes are strapped down in the back of the truck. I would ride out here where I live but the roads are not bike friendly. Very little paved shoulder and too many blind hills and turns.