Insurance Values (EXR Pro)
 

Hello,

I've just realised that I haven't informed my insurance company about upgrades to my bike. One item I need to know the cost of replacing is my Mazzochi EXR pro 100mm (coil) forks. What would be the nearest after-market fork????

Thanks

New the fork sells for around $215. Therefore the insurance amount should be around $150 if it would be stolen.

damn them american dollars. we need GBP!! lol

Good hard currency! :)

I think the important thing to look at is what coverage you have. Do they offer a direct replacement, or do they take depreciation? Is there coverage for your bike, or is it just covered under sporting goods on your policy? Your fork may not even matter, depending on the coverage you have.

Yes, my bike is covered on my policy. It's a named item.... I just have to give it a value. At the moment it's insured as an 'off the shelf' Specialized HR sport 05. But since buying it I have add the EXR pro forks plus a set of Mavic 717's on XT hubs, LX hydraulic Brakes and XT shifters... oh and some M540 pedals.

If it got nicked now i'd be quite out of pocket.

As far as my insurance company is concerned they just need a value.

I had a policy taken out on my bikes as well. One thing that comes as a suprise to a lot of people is that if something is stolen when not at your home then insurance will only cover it for 10% of what your coverage plan is. Not a big deal if you own a home but if you only have renters insurance it can come into play. Imagine my insurance companies suprise when I told them that I own three bikes that retailed for a total of just over $16,000. That's not including the new roadie I bought this year.

Wait, you're telling me that if its not in my home when stolen, say out on a trail while im taking a crap in the bushes, they will only cover it for 10%?

It has to be stolen from inside your house to be fully covered?

I need to find my policy and have a looksy.

ouch... that must be an expensive policy!

BTW - my policy does cover items away from home.

Not exactly, it could still be fully covered. For example, if you only have $30,000 coverage on your home / rental insurance then the company will only cover items stolen away from your home for 10% of your policy, or $3,000. I only had a $40,000 renter's policy which would have only paid me up to $4,000 if something was stolen away from my home. $4,000 wouldn't even cover one of my bikes. :o

I had just called my insurance company last week. After purchasing a new bike, I wanted to make sure it would be covered under my homeowners policy if it were stolen at work or while I am away from home. They told me that it would be covered in full, less my deductible. I really wanted to place the bike on a seperate innsurance rider like we have for other items but they told me that they could not do that. Turns out I lowered my deductible to cover more of the bike in the event of a theft.