Insuring your bikes

[ilima]

My bikes and camera gear are covered by my renters insurance, which would pay the replacement costs for a new equivalent. I have State Farm and specifically asked if I needed special coverage. Make sure you speak with someone who knows what they're talking about. With State Farm there were a couple things that would cause you to need to buy special insurance, but they were along the lines of expensive jewelry and art, not bikes.

I can't remember if I have a $500 or $1000 deductible. I did once have a mountain bike stolen off my front porch. It was worth less than the deductible, so I just had to suck it up. Also, the deductible is per theft not per year or anything.

[Irulan]

Sometimes you have to get a seperate rider. I just recently verified coverage for $5k worth of mountain bikes (2 bikes) and I printed out the verification and put it with my receipts. We've got state farm also.

DON'T FORGET TO WRITE DOWN YOUR SERIAL NUMBER!!!!!!

[OakLeaf]

Read your original policy. You may need a rider, but don't take your agent's say-so. Our policy requires riders for jewelry, art, computer equipment, but NOT sporting equipment.

[NbyNW]

You're smart to be talking to your insurance agent now so that you can understand your coverage and purchase extra insurance in case you need it.

I was lucky when my first Rodriguez was stolen, that it happened to be covered by my homeowner's insurance. It also really helped to have the serial number, which took a bit of work to track down. Since I was the second owner of the bike and didn't have sales receipts, the serial number served as my proof of ownership.

As with your other valuables, it also helps to have pictures! It seems like every other day I see a post on craigslist about a stolen bike, but without pictures, I can only be so helpfl as another pair of eyes on the street.

I got some $$ back for the stolen bike -- essentially replacement value minus depreciation minus deductible. I don't know whether it would have made a difference to have it listed as a separate rider. Come to think of it, I should probably ask my insurance agent about that . . .

[TxDoc]

Yes my bikes are insure with the same company that insures my car and home, Allstate. They cover replacement costs if stolen, damaged, crashed.

[Dogmama]

Take pictures of your bike too.

My State Farm guy said homeowners covers it - and - he was also surprised that a bike would cost over $4K. My bike is custom, so no serial numbers. I have the original sales invoice that describes the components. He said that would suffice. I have replacement insurance.

[Irulan]

One thing we;ve done with our newer bikes is gone to the manufacturer's website and printed out the spec sheet. This will always have an image with it too. Then I staple the receipt to the printout, and write the serial number down. Voila, great record, no having to figure out what components were on it.

We recently had a bike theft - my son. I got a great tip. If you don't have your serial number, many times the shop you purchased from will have it on record.

[Mr. Bloom]

My State Farm guy said homeowners covers it

That's good...my deductible is $2,500 ($40,000 for earthquakes)...how much is yours?