Some credit cards have an extra benefit of extended warranty and some credit cards have said in their advertisements that it covers loss for almost any reason. I believe that the generic credit card extra coverage is limited to one year after purchase. If you find you have such a credit card, perhaps you should buy your complete kit the day before you start your long tour. And keep all the records of your purchase.
***
Originally Posted by
staehpj1
Just me, but I figure if you can afford to buy insurance to cover your bike and gear while touring you can afford to set aside money to replace your bike and gear if it goes missing. To me that is just part of living within your means. In the long run it will be cheaper, the insurance company is making money after all and with some care you will most likely never file a claim.
Part of that living within your means may involve buying a bike and gear that is at the right price point as opposed to best one you could hope for. Don't lose sight of the notion that good enough actually is good enough. I am not saying you shouldn't have nice gear, but the cost shouldn't become a big burden. Knowing you can afford to replace it all in a pinch gives you a level of freedom that tops the joy of owning the highest end gear possible if you are busting the budget to get that gear.
All of this is especially true for those who are planning to be on the road full time (you are the guy asking about that right?). Frugality would seem to be very much key for someone living on the road, and self insuring in the form of having a cash buffer for the type of coverage you are talking about makes more sense to me than paying an insurance premium.
Fully agree.
That is in part why I described the cycle tourist I met at a campsite on my last tour last month in post number 3 above, his plan was to give away the bike when he finished his tour in a few months so the value of his bike to him was solely the benefit of having use of it for a few months.
Furthermore, if you have an insurance policy, that policy can subsidize careless behavior. By that I mean if you go into a restaurant and you think any loss (that exceeds a deductible) will be covered by the insurance company, you may be less careful to lock up your possessions than you would be if you have no insurance policy.