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  1. #1
    Senior Member xizangstan's Avatar
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    I n s u r a n c e

    What are you guys and gals doing for bicycle insurance? I have a renter's policy (like a homeowner's policy, but for a guy who constantly moves around with my work) that I had my bike included. But I'm wondering if anyone has found a more effective way of covering the bikes from loss by theft, etc.
    Who is John Galt?

  2. #2
    Senior Member wahoonc's Avatar
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    Keep them locked up. Most insurance has a deductible and they will claim that your bike has depreciated by a standard amount every year. I have had several bikes stolen over the years and in most cases the total value (according to the insurance company) was less than the deductible. One theft the insurance company changed the rules 6 months prior and required that bicycles be covered on a separate rider, but we never go the notice...screwed on that one! Unless your bikes are very high end and very expensive insurance is going to be your last resort.

    Aaron
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  3. #3
    cs1
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    Senior Member cs1's Avatar
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    Quote Originally Posted by wahoonc View Post
    Keep them locked up. Most insurance has a deductible and they will claim that your bike has depreciated by a standard amount every year.
    Aaron
    True only if the bike is covered as contents. If the bike is scheduled separately on an inland marine rider then no. You can use a $0 deductible and agreed value. That way there's no depreciation. It cost more but it's worth it on a nice bike.
    1999 Waterford RSE-11, 1995 Waterford 1200, 1989 Specialized Rockhopper Comp
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  4. #4
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    Bike-specific insurance. The bike is insured for a value (which can't be more than purchase price). If stolen or destroyed in an accident, that is the amount paid out.

    Also includes 3rd-party insurance, in case I cause an accident. IMO, all adult cyclists should have this.

  5. #5
    Life is good RonH's Avatar
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    Insurance for bikes? I've never had a bike stolen. Never thought about getting it.
    My bikes: 2001 Litespeed Tuscany---2015 Cannondale Supersix EVO carbon

    I thought of that while riding my bicycle -- Albert Einstein

  6. #6
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    Count yourself lucky, then.
    I live in a city of 80 000. Six bikes per day stolen. I've had 1 of mine stolen, my son (who locks his bike in the city centre) has lost 2 bikes in 2010.

  7. #7
    Ironwoman Velo Gator's Avatar
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    Quote Originally Posted by xizangstan View Post
    What are you guys and gals doing for bicycle insurance? I have a renter's policy (like a homeowner's policy, but for a guy who constantly moves around with my work) that I had my bike included. But I'm wondering if anyone has found a more effective way of covering the bikes from loss by theft, etc.
    You want it covered twice? If it's on your renter's policy, it's covered.

  8. #8
    Life is good RonH's Avatar
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    Quote Originally Posted by hairytoes View Post
    Count yourself lucky, then.
    I live in a city of 80 000. Six bikes per day stolen.
    80,000? Is that all? I live in metro Atlanta -- metro population 5.8 million. Too many people for me. That's why I want out.
    My bikes: 2001 Litespeed Tuscany---2015 Cannondale Supersix EVO carbon

    I thought of that while riding my bicycle -- Albert Einstein

  9. #9
    Humvee of bikes =Worksman Nightshade's Avatar
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    I have both my bike & my trike (both custom made to my order) insured as named items on my home owners policy which cost me $50 a year for both (.13 cents a day)
    My preferred bicycle brand is.......WORKSMAN CYCLES
    I dislike clipless pedals on any city bike since I feel they are unsafe.

    Originally Posted by krazygluon
    Steel: nearly a thousand years of metallurgical development
    Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?

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