zrossiter

I recently was in a car accident (with my bike) and realized I had stupidly neglected to get renters insurance for the past number of years.

I was wondering if others had recommendations for policies that had good coverage for bikes (for theft, damage from an accident, etc). I want to make sure all my bases are covered so I don't get left with a similar situation in the future

JamesInSJ

Companies vary a lot in this department. First off, does your auto insurance also write renter's insurance? If so, find out what kind of coverage you have for your bike under that, and how much more benefit you might get if you add a "rider" for the bike (if they even offer it). I use a relatively smaller company called American National, and adding a rider for $2,000 in value costs me $26/year, covers theft, accident, etc. everywhere (yes, at home, on the road, etc.). I spoke to a few riders last month on a century, just after I had added this policy, and two of them had major companies that had no special coverage for a bike. The specialty bike insurance companies are overpriced in my opinion, but to each his own.

SirHustlerEsq

Does anyone have experience with a renter's or homeowner policy covering theft of a bicycle? I've only heard horror stories where coverage was essentially denied or reduced so low that it didn't cover the purchase of a bicycle.

JamesInSJ

For a typical BF reader with a $1,000+ value bike, that's why you usually need to itemize your bike and pay extra for a policy rider. Same thing you have to do for jewelry over a certain value, artwork, etc. Usually anything over $500 or $1,000 or value, individually, you'll need a policy rider or they'll cap at the per-item limited value. And remember insurance companies deal in two different values...replacement vs. actual value. Replacement cost generally = new, actual value = whatever it is worth wholesale. My insurance rider basically says if my bike is stolen, they give me $2,000. That's what I pay for.

Elvo

In my experience, the covered perils for bicycles are only for damage caused by auto vehicles. If you go down by yourself or because of another cyclist or get your bike stolen, you won't be covered unless you have a separate rider for bicycles.