Who has separate bicycle insurance?
#26
Insurance is basically a regulated financial service. There's an old story, that a visitor from overseas was taking a tour of New York City. The guide took him past the boat docks: "These are the docks where the bankers have their yachts. And these over here are the docks where the stockbrokers have their yachts."
The visitor asked: "Where are the yachts belonging to their customers?"
The visitor asked: "Where are the yachts belonging to their customers?"
Likes For Gresp15C:
#27
Cobalto
Join Date: Jun 2012
Location: San Francisco, California
Posts: 42
Bikes: Colnago, Marinoni, Columbine, Schwinn Paramount, Raleigh International, Raleigh Professional, 1893 Crescent Juno, 1896 Crescent No.1, 1899 Crescent No.18, 1896 Columbia 40, 1902 Pierce Special, 1903 Pierce Special, 1905 Pierce Special Racer,
Liked 14 Times
in
8 Posts
Insurance
I keep my antique and collectible bicycles in a 20ft. shipping container, locked up with a puck lock. I also have a WiFi camera, that is connected to my cell phone, with an audible outdoor alarm.
Last edited by GiovanniLiCalsi; 11-16-20 at 08:42 PM. Reason: Error
#28
Senior Member
Join Date: Jun 2020
Location: Maryland
Posts: 1,380
Bikes: 1982 Bianchi Sport SX, Rayleigh Tamland 1, Rans V-Rex recumbent, Fuji MTB, 80's Cannondale MTB with BBSHD ebike motor
Liked 533 Times
in
358 Posts
I'm another one who feels insurance just isn't worth the money. You are typically dollars ahead if you save the money rather than giving it to an insurance company.
Extended warranties are really nothing more than pre-paying for your repairs. Little question they don't pay for themselves.
Extended warranties are really nothing more than pre-paying for your repairs. Little question they don't pay for themselves.
#29
Senior Member
Join Date: Feb 2015
Location: Mission Viejo
Posts: 6,006
Bikes: 1986 Cannondale SR400 (Flat bar commuter), 1988 Cannondale Criterium XTR, 1992 Serotta T-Max, 1995 Trek 970
Liked 2,277 Times
in
1,393 Posts
If this is OT, I’ll start a new thread.
Liability insurance involving a pedestrian or another bicycle.
If a cyclist hits someone else and that person is injured, is it a homeowners/renters insurance issue?
Should there be a separate rider on the policy?
Is a separate liability policy recommended?
John
Liability insurance involving a pedestrian or another bicycle.
If a cyclist hits someone else and that person is injured, is it a homeowners/renters insurance issue?
Should there be a separate rider on the policy?
Is a separate liability policy recommended?
John
#30
n00b
Join Date: Jan 2008
Location: Austin, TX
Posts: 1,397
Bikes: Surly Karate Monkey, Twin Six Standard Rando
Liked 466 Times
in
273 Posts
I just checked my insurance and it sucks. my deductible means I would have to replace my bike out of pocket before insurance kicks in if it was stolen out of my garage. I keep my garage closed but bike thefts have been pretty rampant lately, including some break-ins.
#31
Advanced Slacker
Join Date: Feb 2017
Posts: 6,252
Bikes: Soma Fog Cutter, Surly Wednesday, Canfielld Tilt
Liked 2,571 Times
in
1,451 Posts
I just checked my insurance and it sucks. my deductible means I would have to replace my bike out of pocket before insurance kicks in if it was stolen out of my garage. I keep my garage closed but bike thefts have been pretty rampant lately, including some break-ins.
#32
Senior Member
I just checked my insurance and it sucks. my deductible means I would have to replace my bike out of pocket before insurance kicks in if it was stolen out of my garage. I keep my garage closed but bike thefts have been pretty rampant lately, including some break-ins.
#33
n00b
Join Date: Jan 2008
Location: Austin, TX
Posts: 1,397
Bikes: Surly Karate Monkey, Twin Six Standard Rando
Liked 466 Times
in
273 Posts
maybe for some people I know who have more bikes, and more expensive ones. I could afford to replace my bike(s) if stolen. it would just be a huge bummer.
#34
Newbie
Join Date: May 2024
Posts: 1
Likes: 0
Liked 0 Times
in
0 Posts
I do! It might sound a bit extra, but let me tell you, it's been a lifesaver. Last summer, I was out on a ride when a driver wasn't paying attention and sideswiped me. My bike was pretty banged up, and I was worried sick about the repair costs.
#35
Senior Member
Join Date: Dec 2010
Location: northern Deep South
Posts: 9,169
Bikes: Fuji Touring, Novara Randonee
Liked 2,171 Times
in
1,334 Posts
Zombie thread, first time poster. Reader beware.
#36
Grupetto Bob
Thread Starter
Join Date: Sep 2020
Location: Seattle-ish
Posts: 6,964
Bikes: Bikey McBike Face
Liked 6,631 Times
in
3,350 Posts
Never thought about bike replacement due to an accident only theft. Thanks for posting that. A good zombie is a semi-dead zombie.
__________________
Road 🚴🏾♂️ & Mountain 🚵🏾♂️
Road 🚴🏾♂️ & Mountain 🚵🏾♂️
#37
Senior Member
Join Date: Mar 2021
Location: SoCal
Posts: 2,937
Bikes: Cuevas Custom, Cimmaron, 1988 "Pinalized Rockma", 1984 Trek 510, Moulton custom touring, Raleigh Competition GS, Bridgestone Mb-2 & 3, 1980's Peugeot - US, City, & Canyon Express (6)
Liked 4,884 Times
in
2,281 Posts
Since the zombie has been revived . . .
Another thing to consider for those with large/valuable collections, some homeowners policies require specific rider policies for some categories and might not cover things otherwise even if under the overall coverage amount. I have friends who were denied coverage on art/antique collections even though the claim was under the total amount they were covered for. There were caps on individual categories, if you were not carrying a "rider" for those you were out of luck. People often have them for Jewelry, Art & Antiques, many people don't realize otherwise they might be covered for a fraction of the value of their collections, lots of policies cap Jewelry at $1000-$2,500.
Another thing to consider for those with large/valuable collections, some homeowners policies require specific rider policies for some categories and might not cover things otherwise even if under the overall coverage amount. I have friends who were denied coverage on art/antique collections even though the claim was under the total amount they were covered for. There were caps on individual categories, if you were not carrying a "rider" for those you were out of luck. People often have them for Jewelry, Art & Antiques, many people don't realize otherwise they might be covered for a fraction of the value of their collections, lots of policies cap Jewelry at $1000-$2,500.
#38
Senior Member
Join Date: Jul 2006
Location: Lebanon (Liberty Hill), CT
Posts: 8,758
Bikes: Canyon Aeroad, CAAD 12, MASI Gran Criterium S, Colnago World Cup CX, Guru steel & Guru Photon
Liked 1,429 Times
in
835 Posts
Nope. As others have mentioned my bikes are never left out of sight when not in the garage. A habit since I got into motorcycling around 1975.
#39
Senior Member
Worth adding - only certain properties are flood prone. Everyone is at risk of personal injury claims. Bike theft can be largely reduced by a policy holder.
Likes For ScottCommutes:
#40
Might want to peruse your auto policy or talk to your agent about these items:
1. Uninsured motorest coverage ("UI")
2. Medical coverage (sometimes called "Medpay")
3. Liability for bike related accidents
If you are involved in an accident with an uninsured auto driver, your auto policy uninsured motorist coverage normally will cover your medical, property loss (bike and the expensive kit they cut off you in the ambulance), and pain and suffering, provided that you are not at fault (or not totally at fault). No, they are not allowed to cancel you or raise rates if it was not your fault. Additionally your medical overage will kick in, up to the limits of your policy - normally $2000 to $10000. If your UI limit is low, say $10k to $50k, you really, really (REALLY!)might want to should raise it - it isn't that expensive compared to the benifit. .Also, you can get an "Umbrella rider" for say, $One million that adds extra coverage to most of the policy limits you have. A night in the hospital is north of $15k now. Full body CT scans? Sheeeesh, if you have to ask you can't afford one, much less two!
This comes from personal experience being hit by an uninsured, unregistered driver last year (100% his fault). Oh, and we had the extra coverage. Love my new bike! Not disclosing details, but the difference can be an amazing amount of zeroes! PS Hire an attorney as well, one that has handled similar cases, or you'll leave gobs of cash on the table. 'Nuff said.
1. Uninsured motorest coverage ("UI")
2. Medical coverage (sometimes called "Medpay")
3. Liability for bike related accidents
If you are involved in an accident with an uninsured auto driver, your auto policy uninsured motorist coverage normally will cover your medical, property loss (bike and the expensive kit they cut off you in the ambulance), and pain and suffering, provided that you are not at fault (or not totally at fault). No, they are not allowed to cancel you or raise rates if it was not your fault. Additionally your medical overage will kick in, up to the limits of your policy - normally $2000 to $10000. If your UI limit is low, say $10k to $50k, you really, really (REALLY!)
This comes from personal experience being hit by an uninsured, unregistered driver last year (100% his fault). Oh, and we had the extra coverage. Love my new bike! Not disclosing details, but the difference can be an amazing amount of zeroes! PS Hire an attorney as well, one that has handled similar cases, or you'll leave gobs of cash on the table. 'Nuff said.