Originally Posted by DogBoy
There is no reason to have specific bicycle insurance since it is already covered under a renters or homeowners policy. That is unless you want to pay more for bike insurance.... I would fight any attempt to require specific cycling insurance for as long as possible because it would cost us more $$$ for no more coverage.
I totally disagree with you on that. Your bicycle is only covered against theft
if you have renters insurance or homeowners insurance. Your bicycle is only covered against damage
if you have renters or homeowners or an auto policy covering damage, or
if the motorist has a policy covering damage. Your body is only covered
if you have accident coverage or health insurance. If you don't own a car, and you don't have health insurance, you're not covered,
unless the car that hits you is insured.
In short, there are plenty of reasons that a cyclist may have for wanting bicycle-specific insurance.
For the original poster, here are some links to articles:
Accidents and Insurance
Covering Your Assets
Verbal Threshold
A Question of Value