Old 08-09-19, 11:35 PM
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Bike Jedi
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Personal Property insurance while touring to cover bike...

I was speaking with a insurance person the other day. I am trying to figure out what to do about personal items that I can't necessarily minimize and carry on a bike, but don't necessarily want to get rid of and start over later again on, mainly my bike tools, bike stand, other tools, and stupid stuff like that. I was asking about renter's insurance to cover things in the event of an emergency and not being able to replace everything easily at all without it as my collection of stuff is growing. I was asking some questions about how to get my bike to fall under the policy in some way "while" touring. I went in great detail about wanting to be on the road full time touring for a while, indefinitely kind of thing, and mostly just worried about losing my bike. If that was to happen it could be a bit devastating to me financially in many ways, and a risk I am aware of and am willing to take. I have read enough about what many of you all talked about insurance stuff in threads over time. I wasn't aware of anything I am about to mention until I was talking to the insurance person about while explaining my own needs. She told me about this other insurance policy.


I don't remember specifically the name she called it, but it was something along the lines of just a general personal property insurance for just about anything you carry on you, anywhere you go, etc... kind of thing. You can list whatever you want under this policy, and the insurance policy covers anything you put under the plan pretty much anywhere you and your stuff go. Based off everything I have read up until speaking with her, there was nothing really out there to cover bikes while touring kind of thing, so I was skeptical that she wasn't clearly understanding what I was saying about a "touring" bike and what that all involves, so I went into even more detail. She said as long as it's listed on the plan, it's covered. That would include doing some more of your expensive electronics on your bike or laptap as well. I am not sure how to break down specific components to have listed versus having the entire bike listed, and how the in's and out's of that would work, but she said it could be done. And the cool thing about it is there is no deductible versus regular renter's insurance. With renter's insurance, the deductible is $500, so that wouldn't cover some of the electronics I would have or carry if it was stolen, but with the personal property insurance plan, it would cover anything listed on the plan. Want to list my saddle or Iphone, I can do it. I don't really care about the smaller stuff and can live with someone walking off with something like that if I had to...but if I ran into a store and came out and my entire rig was stolen, I would not be able to recover easily. I would be stuck wherever I am, trying to start over or get out on a limited budget, which would make it extremely difficult. With an insurance plan like that, I would only be down as long as it takes to get a new bike ordered and delivered. She also mentioned to me that all that is really needed is that they would need me to take it someplace to be appraised for the insurance plan. At that point, she said the plan would probably be about $66 a month for what it would cost me to replace everything if robbed while traveling.


I still hung up questionable as if this could really be pulled off just because if it really was as easy as she said it was, and could be done like I mentioned above, then why haven't you all discovered this and other's talking about it or utilizing it by now? This was a pretty big insurance outfit I contacted no less like State Farm or something like that without having info in front of me to look at. If it really is that simple, then why aren't other folks utilizing it or why isn't it being talked about in the forums?


That sounds like a pretty big deal to me and for folks that are bike packing and/or touring on a more full time basis, why wouldn't they totally take advantage of this? I honestly can't see anything wrong with it, and I also can't see traveling without it now. The policy moves with you anywhere in time and space versus being tied to a local address only.


Are other folks aware of this? Using something like this? Pro's or Con's?


I am just kind of surprised more than anything why this hasn't come up for more people to take advantage of. If I remember correctly too, she said it also covers accidental loss, like accidentally leaving something behind and losing it somewhere too. Sounds like exactly the type of coverage anyone should have while touring then to cover theft/loss/etc... kind of thing. I am more worried about bringing it up, it getting out there over time, and ultimately it being taken advantage of more than being effective and beneficial for folks long term, and then ultimately it being taken away for abuse. I am actually surprised it is as easy as she mentioned on the phone if all that is true.


Thoughts?

Last edited by Bike Jedi; 08-10-19 at 01:52 AM.
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