My bike was stolen!

[NbyNW]

I'll keep an eye out on Craigslist for your bike . . . I've never stopped looking for mine, and it's been two years.

Still hoping for a happy ending .... right after you get a replacement via insurance.

Ah, but after filing my claim my insurance company also included in the final paperwork that if the stolen bike ever turns up, that they now own a financial interest in it . . . . not sure exactly what they meant by that -- whether I would have to pay them back for the replacement bike or whether they now consider themselves owners of the stolen bike and that I would have to pay them for its appraised value.

That said, I guess that would strictly depend on me doing the right thing and letting them know if the bike ever turns up.

Other downsides to filing an insurance claim, and this will vary according to your policy, location and personal situation: 1) our premium went up, and 2) when getting quotes for insurance on our new place, one very reputable company actually turned us down because we had filed a claim in the last 5 years.

Basically there are a few things to weigh as to whether it's worth filing a claim or whether you feel your pocketbook should take the hit. i.e., if I had known we would be moving in two years and a "little" thing like a stolen property claim would be held against me, I might have made a different decision.

[coolcreek]

I'll keep an eye out on Craigslist for your bike . . . I've never stopped looking for mine, and it's been two years.



Ah, but after filing my claim my insurance company also included in the final paperwork that if the stolen bike ever turns up, that they now own a financial interest in it . . . . not sure exactly what they meant by that -- whether I would have to pay them back for the replacement bike or whether they now consider themselves owners of the stolen bike and that I would have to pay them for its appraised value.

That said, I guess that would strictly depend on me doing the right thing and letting them know if the bike ever turns up.

.

Which you should do as it is the right thing ---legally and morally (not doing so is a reason that general rates go up). In my experience, which isn't much, the insurance company was offered the replacement. You can also offer to pay them back the payout.

One payout shouldn't make a difference in your rates unless you are a brand new customer. It's the second claim that often makes a difference.

[NbyNW]

Which you should do as it is the right thing ---legally and morally (not doing so is a reason that general rates go up). In my experience, which isn't much, the insurance company was offered the replacement. You can also offer to pay them back the payout.

One payout shouldn't make a difference in your rates unless you are a brand new customer. It's the second claim that often makes a difference.

And of course, if the bike ever shows up, I will.

My rates absolutely did go up. I was a three-year customer at that point. Does that qualify as brand-new? I've moved cities four times in the past ten years. Maybe I'll always be brand-new.

In my most recent move, one insurance company would not offer us a policy because the claim I made for this bike was within the last five years. So in retrospect maybe it was a bad idea to make the claim and I should have just paid out of pocket for my replacement bike.

[coolcreek]

And of course, if the bike ever shows up, I will.

My rates absolutely did go up. I was a three-year customer at that point. Does that qualify as brand-new? I've moved cities four times in the past ten years. Maybe I'll always be brand-new.

In my most recent move, one insurance company would not offer us a policy because the claim I made for this bike was within the last five years. So in retrospect maybe it was a bad idea to make the claim and I should have just paid out of pocket for my replacement bike.

It's a tough call, isn't it? I have stuck with the same company for car & home and lived in the same area for 20 + years, so they're bound to be a bit more forgiving. (eek, closer to 30 than 20)

[mhami]

Most likely this isn't your bike, but I thought of you when I heard this on the news the other day. Who knows, this guy might have more bikes hidden away that he planned on selling. Here is the article:

San Rafael gang member, 17, jailed in craigslist caper
Gary Klien
Posted: 04/21/2010 08:20:07 PM PDT


A 17-year-old gang member in San Rafael was arrested after trying to resell stolen bicycles on craigslist, police said Wednesday.
The bicycles, a $2,000 road bike and a $500 mountain bike, were stolen from an unlocked garage off Fifth Avenue in the Sun Valley area, said San Rafael police Sgt. Jim Correa.

When the victim saw the same bikes for sale at craigslist.com, police set up a sting. Officers Kyle Hornstein and Leslie O'Toole, posing as a married couple, arranged to meet the seller at his home.

The suspect came to the door with the $2,000 bike, and was arrested, Correa said. The other bike was also recovered.

The suspect lives within half a mile of the victim.

Correa did not release the suspect's name because of his age, and would not comment on which gang he is affiliated with.

The boy was booked into Marin County Juvenile Hall on suspicion of possessing stolen property.

[maillotpois]

Wow - that's a great story. Thanks. I love seeing the sting set up and actually working.

I did hear that they have the guy who stole my bike in custody; however, he had already sold my bike in San Francisco.