Insurance on bikes

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  • 06-02-2014
    krusej23
    Insurance on bikes
    Hi, I'm new to biking. My wife and I just bought bikes this weekend(2014 Trek 7.2 FX-Me, 2014 Trek Verve 2-Wife). I am just wondering what people do for insurance or have any advice. Are they covered much under a normal home owners insurance policy? They both cost around $600 and our deductible is $500. We use State Farm. Thanks!
  • 06-02-2014
    jeffscott
    Quote:

    Originally Posted by krusej23 View Post
    Hi, I'm new to biking. My wife and I just bought bikes this weekend(2014 Trek 7.2 FX-Me, 2014 Trek Verve 2-Wife). I am just wondering what people do for insurance or have any advice. Are they covered much under a normal home owners insurance policy? They both cost around $600 and our deductible is $500. We use State Farm. Thanks!

    I am covered...didn't know I was..

    We had two bikes ripped off from the garage about 5 years ago...both with flat pedals...the other three had cleats.

    Got reimbursed for damn near replacement value on $1500 and one $1800...less $500 bucks.

    Check with your agent.
  • 06-02-2014
    krusej23
    That is good to know. I had emailed my agent right before I posted this but figured I would get some more personal experiences from others too. Thanks!
  • 06-02-2014
    Petti the Yeti
    Most homeowners and renters insurance will cover thefts from the property. Car insurance may cover thefts off of your racks, or from inside the car. Just depends on your coverage levels.
  • 06-04-2014
    Call_me_Tom
    Insurance on bikes
    I have USAA renters insurance & they cover my bikes & there's no deductible.
  • 06-04-2014
    teleken
    Your bikes are considered personal belongings so they should be covered by homeowners or renters insurance but the deductible applies. Your belongings should be covered anywhere including away from the home but they might only be covered for actual cash value not the cost to buy new (replacement cost coverage).

    They are not covered by your auto insurance in any way (unless you have some special endorsement) auto insurance only covers the vehicle and anything permanently mounted to it.

    Call me Tom - you might want to double check your coverage - USAA renters insurance should have a deductable of at least $100 for theft. You may have a Valuable Personal Property policy (that has no deductible) in addition to your renters coverage but the VPP does not cover bikes.
  • 06-04-2014
    Call_me_Tom
    Insurance on bikes
    I'll ask again but I was just on the phone with a insurance rep last Friday to raise my renters coverage & there wasn't a deductible. Although I will admit I've received differing quotes depending on who I'm talking to.

    Of note, I have 2 auto policies, personal valuable policy & a guns policy with USAA. The only one that has a deductible that I'm aware of are the auto policies.
  • 06-06-2014
    teleken
    Quote:

    Originally Posted by Call_me_Tom View Post
    I'll ask again but I was just on the phone with a insurance rep last Friday to raise my renters coverage & there wasn't a deductible. Although I will admit I've received differing quotes depending on who I'm talking to.

    Of note, I have 2 auto policies, personal valuable policy & a guns policy with USAA. The only one that has a deductible that I'm aware of are the auto policies.


    Thanks for being a member (I work for USAA) your VPP does not have a deductible (your guns should be on it) but the Renters should have a deductible.
    I wouldn't want you to find out the hard way I hate it when people get deductible shock after a loss. Also sorry you get conflicting info from the reps you can also check your policy on the website too.

    Let all hope the thieves keep their hands off our stuff!
  • 06-08-2014
    Call_me_Tom
    Insurance on bikes
    Quote:

    Originally Posted by teleken View Post
    Thanks for being a member (I work for USAA) your VPP does not have a deductible (your guns should be on it) but the Renters should have a deductible.
    I wouldn't want you to find out the hard way I hate it when people get deductible shock after a loss. Also sorry you get conflicting info from the reps you can also check your policy on the website too.

    Let all hope the thieves keep their hands off our stuff!

    That's interesting & confusing...my Tahoe was broken into a year ago, in it was an inverter that was also stolen. USAA repaired my Tahoe & replaced the stolen electronics under my auto policy which I had to pay a deductible but they replaced the inverter under the renters insurance & a deductible wasn't required.

    Also, my VPP covers my watch & jewelry collection but not my guns. I was told I'd have to have a separate policy for that which I do. They also said my ammo is covered under renters & not the gun policy...
  • 06-10-2014
    mtbxplorer
    Having bought an expensive bike recently, I called today to see if my bikes are covered adequately under my Nationwide homeowners policy, and they said yes, as long as they weren’t raced or traveling to Europe. There is the regular homeowners deductible and a max limit for all my personal property (furniture, clothes, etc.) including the bikes, but there is not a specific limit like there is for all my jewelry (not!) and furs (not!).