prj71

No they don't. Bikes, cameras and other type of stuff are covered under personal property on a homeowners insurance policy. I don't have any special items in my household listed separately.

My bike that I paid $5200 for in October 2020 was stolen this year in September. It was covered under my homeowners insurance personal property coverage. My insurance company cut me a check for the replacement cost of the same bike (now $6800) minus my $500 deductible. Within 10 days of reporting the incident to my insurance company and providing them the receipts of my bike purchase and the cost of a replacement bike I had a $6300 check in my hand to buy a new bike.

https://www.trustedchoice.com/ask-an...ome-insurance/

Sy Reene

Just curious, stolen from your home premises, or elsewhere while out and about?

prj71

The only thing different will be the cost of what you pay for homeowners insurance. It varies by state/location. What items are covered does not vary by state.

prj71

Elsewhere...Stolen from the back of my truck (it was locked up with 2 cable locks) that was parked in a Holiday Inn parking ramp. I was 160 miles away from home at a work conference and brought my bike along to ride with a friend in my free time.

indyfabz

I had a bike (Surly LHT) stolen from inside my house, while I was home and in bed watching the late news. We must have left the front door unlocked because there was no forced entry. It was a week before Christmas and very cold out. The burglar was nice enough to shut the front door as he left. The noise of the door shutting is what alerted us to the incident. Fortunately, he left the two custom IFs behind. The Surly was oriented to roll right out the front door. He also took my cheap flip phone. When I finally went down stairs I could smell his funk on the first floor.

SurferRosa

I'd like to find an insurance policy just for theft on $5,000 worth of bikes for a premium under $10 a month. But I haven't found one yet. So I just rely on my homeowners policy.

prj71

Well you need the homeowners policy anyway and it automatically covers your $5000 worth of bikes if they are stolen...So why do you want to a separate policy for theft?

SurferRosa

I would like a policy just to cover my bikes as previously written. I really don't feel like saying any more about it to keep personal information personal.

prj71

Makes zero sense. Your bikes are already covered under your homeowners policy.

DMC707

He might not be a homeowner, but renters insurance is the same with the exception that a lot of renters policies are ACV (Actual cash value ) instead of RCV (Replacement Cost )

prj71

He stated above that he has a homeowners policy.

DMC707

Partially correct, but cameras, telescopes and bikes are not considered special

Things that are would be

Artwork
Antiquities
Jewelry
Firearms
Business Property
Cash

Most of these have a $2500 cumulative limit on a standard HO policy -- cumulative meaning you dont have 2500 for guns, then 2500 for jewelry, etc. - just $2500. Which is why you need scheduled item insurance for these that are over and above that limit . One watch from Tag Heuer or a couple of nice hunting rifles will easily go over that threshold so these items should be listed separately with photos, accurate descriptions and serial numbers if applicable provided to the insurance carrier

DMC707

ooops - i missed that i guess. But agree with all, he really doesnt need specialty insurance, but i usually advise people (im a property casualty insurance adjuster) to catalog their "nice stuff" - with pics and accurate descriptions so you can substantiate your value claims to the insurance adjuster if you ever have to

prj71

I believe all of those items are still covered under personal property as long as your personal property coverage limits are high enough to cover them. That's why people should look at their policy and determine if it's high enough. If not, then they can raise them. In the distant past....I spent some time moonlighting as licensed insurance agent for 5 years so going off what I remember.

On average personal property coverage defaults to 70-75% of Coverage A (Home Structure). As an example my home is insured for $300k. My Coverage B (personal property) is $225,000. I can tell you with great confidence that I don't have $225k of personal property laying around.

DMC707

They are covered. Up to $2500 It doesnt matter what your coverage personal property limits are. So check with your agent if you have a nice watch or mama has a nice wedding ring

prj71

Thanks for the info. Dating a girl now that lives with me, so no wedding ring or nice watches

DMC707

LOL -- if she's living with you, how is that dating? - not being critical . We;re the same age, --- single life and dating at this age sucks

SurferRosa

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Heard you the first time. And what I wrote above in post 31 is the issue.

I probably shouldn't have posted it here since there is no product out there that fits. I've looked.

prj71

Lol. Not too bad. We've been together for 3 years now.

Sy Reene

Sounds tricky to get that low. How many bikes are you referring to that make up the $5k worth?