Originally Posted by
chefisaac
Do you all have insurance on your bike? Like if it was stolen at your house or apartment? I would assume homeowners or renters insurance might cover that.
But what if you get into a wreck and it was deemed your fault? Would your insurance cover the damage?
Or if your bike got stolen at the store, would you insurance cover it?
I figure insurance is to cover unexpected major financial crises that I would have trouble paying for otherwise. Replacing any of my bikes doesn't qualify as such a crisis. So I have high deductibles on my home owner's insurance to lower my premiums but this also means the bikes aren't covered for theft or damage (but if the house burns down then the bikes would be included in the damages and I'd just have to pay the deductible).
If I'm in an accident that's my fault, then my main concern would be my liability for damages to others - that's covered up to the policy limits by the home owner's insurance. But damage I do to myself is not covered (other than medical damage - covered under health insurance).