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Insurance on bike(4 posts)

Insurance on bikeNickthedart
Oct 17, 2001 6:46 PM
I have over 2000 g's invested in my bike. does anyone know if a seperate endorsement can be added to a homeowners policy to cover crashes, theft from a place other than your own property etc.. I realize the easy way would seem to be to contact my agent, but he'd end up babbling on about hole life...
"Hole" life? . . .LAIrish
Oct 17, 2001 10:57 PM
Man, I feel sorry for your insurance agent. He needs to get out more.

There was a discussion on this board within the last week or so on this very topic, but I can't find the thread. (Man, what is UP with the search function? I search for terms I know have been recently used and it kicks me into some whole other universe with completely unrelated stuff.) The consensus was that the standard homeowner's policy will cover loss of your bike, even of off premises, but the amount paid may be insufficient to cover a primo machine unless you have a specific rider (on the policy, not on the bike).

Of course, your coverage will depend upon the language of your policy, so no "general" answer is possible. You will have to consult with your agent or another qualified professional.

If your agent tells you that you're covered. Get him to put it in a letter, specifically stating the nature and amount of coverage and citing the policy language which applies. When you actuallly lose your bike and the adjustor (who is not the agent selling you the policy) says you're not covered, you can wave the letter in his face and say something about "bad faith" and it will probably resulte in your receiving payment.
Here's a link to the recent threadCliff Oates
Oct 18, 2001 4:15 AM
"2000 G's?"jtolleson
Oct 18, 2001 7:00 AM
I assume you mean "two G's" (ie., two grand).

First, theft from places away from home IS covered by your homeowners policy usually. If it is stolen off the car, out of your office, etc.

I have State Farm insurance, and they told me I could get a rider to cover crashes, but I decided it wasn't worth it (first there will still be the deductible and the additional costs seemed too high).