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Bike lock insurance. Scam or Real?

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Bike lock insurance. Scam or Real?

Old 04-06-16, 10:24 PM
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extremebiker
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Bike lock insurance. Scam or Real?

Hi fellow biking addicts

Have you or anyone you know been able to claim insurance that comes with high end bike locks (Eg- Kryptonite). How hard is it to claim it if you have all the required documents?
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Old 04-06-16, 10:34 PM
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You have a better chance of finding the tooth fairy prancing about your room tonight with a bag full of shinny quarters.
Just put the remains of your lock under your pillow.

Last edited by goraman; 04-06-16 at 10:44 PM.
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Old 04-06-16, 10:48 PM
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Please do not post the same general topic in multiple threads? One thread about all the aspects of the Kryptonite lock situation will do. Know you are new, just helping. Duplicate threads split the effectiveness of helping answer your questions because some may not see the other thread and you can get a better result when you summarize in one thread. In this case the earlier thread should have been expanded on.

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Old 04-06-16, 11:34 PM
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Originally Posted by Rollfast View Post
Please do not post the same general topic in multiple threads? One thread about all the aspects of the Kryptonite lock situation will do. Know you are new, just helping. Duplicate threads split the effectiveness of helping answer your questions because some may not see the other thread and you can get a better result when you summarize in one thread. In this case the earlier thread should have been expanded on.

And welcome to Bike Forums!
Hey. I ll definitely keep that in mind. I did not know how specific one thread can be! Thanks for your help.
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Old 04-06-16, 11:36 PM
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Originally Posted by goraman View Post
You have a better chance of finding the tooth fairy prancing about your room tonight with a bag full of shinny quarters.
Just put the remains of your lock under your pillow.
Are you sure about that? What if I have ALL of the required documents?
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Old 04-06-16, 11:42 PM
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Originally Posted by extremebiker View Post
Are you sure about that? What if I have ALL of the required documents?
Your best hope.








Have you taken the time to go to there web site and read all the list of disclaimers?

http://www.kryptonitelock.com/conten...tion_Offer.pdf
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Last edited by goraman; 04-06-16 at 11:50 PM.
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Old 04-06-16, 11:44 PM
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Okay, one of these threads should be closed or combined, and some of you need to gain some more respect toward the OP and their question.

Thank you.
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Old 04-06-16, 11:50 PM
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@goraman
Yes I read through everything. Just cant understand what is the catch except for having bill of sale and the actual lock? I know there is something, just cant figure out what exactly is the catch?





Have you taken the time to go to there web site and read all the list of disclaimers?

http://www.kryptonitelock.com/conten...tion_Offer.pdf[/QUOTE]
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Old 04-06-16, 11:52 PM
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Did you fill out a police report in time, disclose it to your home owners insurgence?
Did you follow all of the directions with in the time limits and is the receipt for the lock with in the year?
Did you register the bike to the lock with in the time period given?
There is a huge list of reasons not to fund the claim as I read it.
If you have met all there criteria and actually get a check from them please report back to us as you will be the first I have ever herd of.
And if they do, run go get a lottery ticket because it will be your lucky day!

Last edited by goraman; 04-07-16 at 12:05 AM.
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Old 04-07-16, 12:09 AM
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Originally Posted by Rollfast View Post
Okay, one of these threads should be closed or combined, and some of you need to gain some more respect toward the OP and their question.

Thank you.
Don't mistake humor for lack of respect to the OP.
I even linked the rules for making a claim.

I am trying to point out the long list of disclaimers and the fact I have asked bike shop staff and non to date have ever said they knew of a case where some one got there bike replaced.

Last edited by goraman; 04-07-16 at 12:14 AM.
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Old 04-07-16, 12:40 AM
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I've never heard of a lock company with a warranty to replace a stolen bicycle. I thought Kryptonite would pay up to $250.00 if your bike was stolen. ?

I'd depend more on my home insurtance than I would on any lock company insurance/claim of reimbursement.

Cheers
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Old 04-07-16, 01:45 AM
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Rollfast, I miss East Hill, too.
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Old 04-07-16, 03:33 AM
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This smells like Dreamrider85...I could be wrong though.
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Old 04-07-16, 03:57 AM
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I think you are mistaken, Giant. DreamRider is really distinctive.
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Old 04-07-16, 05:00 AM
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Why are you fooling around here? File the claim and see what happens!
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Old 04-07-16, 04:46 PM
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Originally Posted by Nermal View Post
I think you are mistaken, Giant. DreamRider is really distinctive.
Like asking ridicules questions here vs. the Company you would have to deal with? or Comments like this; Yes I read through everything. Just cant understand what is the catch except for having bill of sale and the actual lock? I know there is something, just cant figure out what exactly is the catch?

You are probably correct...
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Old 04-07-16, 05:10 PM
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Using the six degrees of separation theorem, you would think that at least one person would chime in and say I know a person who knew a person who was paid by Kryptonite for a loss, yet this hasn't happened. Search this whole site and tell me if you can find one person who collected insurance from Krptonite. It just doesn't seem to happen. I love Kryptonite locks but I don't buy the locks because of their unique insurance.

I agree with the goroman on this one and 02Giant, I smelled the same rat.
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Old 04-08-16, 08:54 AM
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It's basically a marketing ploy. Maybe once a year they pick some random claim to pay, but for the most part don't count on it.
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Old 04-08-16, 10:25 AM
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It's a ploy, but not a scam. If you meet all their terms, they'll pay what what the agreement says. They can afford to do it because of the bikes that get stolen, few bother to submit a claim, and of those even fewer can comply with all the terms, so the total of payouts is very small compared to what they make selling the locks.
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Old 04-08-16, 10:41 AM
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I would think it would vary from city to city.

I haven't had a locked bike stolen since I accidentally dropped the key next to my bike as a Freshman in High School. So, I always consider the chances of my bike being stolen in the next 12 months when locked up with a fancy Kryptonite NY lock is pretty slim.

I'd be leery of locking a nice bike in a place where high-end U-Locks were routinely cut or otherwise defeated.
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Old 04-08-16, 10:57 AM
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Don't lock expensive bikes up. If you need to commute/go to the movies theatre/go to work then you ride an old junker. Don't even bother locking up an expensive bike and never let it out of your sight. Yes it sucks because I'd love to take my expensive bike to the Club/Gym but there I can't leave it locked up outside downtown so unfortunately it's not an option. I'll just drive to the club/gym after my bike ride.
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