Insurance Questions
04-28-12, 07:32 AM
#1
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Insurance Questions
Recently came home from a vacation and saw that my cousin who was house sitting for us wrecked my four wheeler. It was not covered under our homeowner's policy as they told us ATV's need their own inland marine policy.
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes
although that would be nice.
So what do you guys do about insurance?
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes
although that would be nice.So what do you guys do about insurance?
04-28-12, 07:48 AM
#2
Throw the stick!!!!
Recently came home from a vacation and saw that my cousin who was house sitting for us wrecked my four wheeler. It was not covered under our homeowner's policy as they told us ATV's need their own inland marine policy.
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes although that would be nice.
So what do you guys do about insurance?
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes
although that would be nice.So what do you guys do about insurance?
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04-28-12, 08:03 AM
#3
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04-28-12, 08:22 AM
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In reality, if you do not have financial means to self insure the loss of your bike then you have too much money tied up in your bike. To pay for replacement insurance beyond what your homeowners or vehicle insurance would do does not make good financial sense.
04-28-12, 08:27 AM
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I used to have my bicycle insured with CAA (Canadian Automobile Association) as an extra on my content insurance. That was a decent policy.
You might check what AAA has to offer.
You might check what AAA has to offer.
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04-28-12, 08:32 AM
#6
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04-28-12, 09:02 AM
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great, I'll check with CAA. Self insured? sure, I can replace it if necessary, but I'd rather not have to. I'm going to have to fork out several thousand for a new four wheeler now, as I'm pretty sure this thing is totalled. it was just a wake up call to check on the bike. Hell the wheels alone would cost $2K to replace. You guys know how it is. We all love our bikes.
04-28-12, 10:14 AM
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I have renter's insurance. I had a bike stolen and they covered it, and then dropped me. I got USAA renter's insurance and it's all good now
04-28-12, 01:36 PM
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If your cousin has automobile insurance and he wrecked the ATV due to his own negligence, it's very likely that his insurance company will cover the damages.
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04-29-12, 05:54 AM
#10
grilled cheesus
the bike is considered personal property under your homeowners and/or renters policy. like a tv or sofa and those policies cover it as stated in the policy. i suggest you read the policy instead of taking someones word or opinion on your coverage. the policy is a contract between you and the insurance company. you can specifically insure the bike, paying more to do so, that typically provides more coverage. later.
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04-29-12, 08:27 AM
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04-29-12, 08:37 AM
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04-29-12, 12:56 PM
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04-29-12, 01:34 PM
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I don't understand why this subject is so complicated. Homeowners insurance and most renter's insurance covers bikes. If your's doesn't or covers enough and bikes are important, find another policy that does. Taking out a rider/sepertae coverage doesn't make financial sense.
04-29-12, 01:46 PM
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If you self insure, you pay when you have a loss. If you buy insurance, you pay even without any losses. Over the years I've paid insurance companies many times over what I have collected from them, which is of course central to how they make money. Liability insurance, however, is a societal responsibility. You must be able to cover harm or losses caused by you to others. Of course, if you have lien against something like a house or car, it's often required that it is covered by insurance. So, if you have homeowner's insurance, you might as well avail yourself of its coverages if you have a loss...and sometimes riders for specific items might be relatively reasonably priced and worth considering if you are risk averse or financially overextended.
04-29-12, 02:01 PM
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Recently came home from a vacation and saw that my cousin who was house sitting for us wrecked my four wheeler. It was not covered under our homeowner's policy as they told us ATV's need their own inland marine policy.
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes although that would be nice.
So what do you guys do about insurance?
That made me ask some questions about my bike. Insurance guy said it would be covered under the homeowners, but only for theft.
I guess my question is, do any of you guys have your bikes insured? I want to be sure its covered if its stolen from the house, and be sure if its in the car, that the car policy would cover it too. Haven't asked that question yet. I guess they dont make a collision policy for bikes
although that would be nice.So what do you guys do about insurance?
04-29-12, 02:02 PM
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I don't understand why this subject is so complicated. Homeowners insurance and most renter's insurance covers bikes. If your's doesn't or covers enough and bikes are important, find another policy that does. Taking out a rider/sepertae coverage doesn't make financial sense.
