Insuring your bikes

[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.

[Aggie_Ama]

Oddly I have to have a rider for my engagement and wedding rings (value approx $5k) but not the bikes (value of $10k combined). We have pictures, receipts and SN on all the bikes. Except my Craigslist Mountain Bike where I have SN and pictures.

I asked my agent specifically would it cover these high end bikes and told him I we paid about $2,000 EACH for the bikes. This is Texas where people spend a ton on guns, bows (my friend has a $1,800 one) and who know what else my agent didn't even bat an eye. It covers replacement cost minus deductible. I think it varies by state and even company. Talk to your agent and be very specific on what you are asking.

[uforgot]

Thanks for all the great advice. I'm going to read my policy. Taking pics is a great idea, and I have already taken them. I also registered with the National Bike Registry, and I think it's good for something like 10 years. Printing out the spec sheet won't help since I moved some of my Shimano 105 components over from another bike and he built the rest up, including the wheels. That's part of my concern, I just can't call up someone and replace the parts I chose!

Thanks again! I can always count on TE.

[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?

[boy in a kilt]

That's a big deductible for someone in the mid-west. Do you live anywhere near New Madrid?

[Mr. Bloom]

That's a big deductible for someone in the mid-west. Do you live anywhere near New Madrid?

Yep...with lots of unfavorable and unshielding geology in between...