Originally Posted by
Bianchigirll
they my be covered under you homeowners but for how much and what can be debatable. if your bike is locked outside of dunkers and someone backs over it and leaves you may be out of luck or you only get $200 for you recently repainted Herse or Hetchins.
Not debatable. It's either covered for Actual Cash Value (local market value, cash) or Replacement Cost Value (the cost of a new one with similar components). A deductible would apply.
I was chatting with an agnet a few weeks ago and you need a blanket policy for the collection and then riders for the best bikes for cost of replacement. The agent is incorrect, unless you are truly into unique, collectible, high-value bikes. 99.9% of C&V bikes are not that. Your homeowner's policy covers them, for theft, and you don't need a blanket policy.
however after chatting with a classic car buff you may end up where yes the bike is insured but you can't ride it.
A bike is no different from a couch, watch, TV. Someone steals your TV, it's covered. Someone steals your bike, it's covered. Prove the value, for ACV, and you'll get paid. RCV, you'll get the price of a new one, less deductible. Any adjuster can google, CL, eBay, site mash, etc. Half of them will get it wrong, not being bike folks, but you can educate him/her, help the file documentation with your own evidence of value, and get paid. Deductibles are deductibles; they are there and part of the settlement.