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bicycle insurance(6 posts)

bicycle insurancenat_ct1
Jan 17, 2002 6:01 AM
im planning on moving to va this year. i was wondering if anyone knew if there are co. to insure bikes for theft,acccidents american and got hit by a car here and its like pulling teeth just to get the report the lawyers here had to fill out request to get the report 15 days later still nothing...i never want to go thru tis again and trust me nor does anyone else.
home insurance should cover lossPaul
Jan 17, 2002 7:32 AM
I live in VA, but no matter where you live, you home insurance policy should cover theft. In order to get full replacement value, you can get a rider for little money. Ask the question from your insurance company. Even if you rent, you should have insurance.

Buyer Bewaregrzy
Jan 17, 2002 9:56 AM
There is a failry strong trend for the Homeowners/Renters Insurance policies towards a "named risk" policy for things like bikes. If your building burns or floods or your bike is stolen (or any of the other specifically "named" risks) you should be covered though usualy at a depreciated rate unless you specify and pay for replacement cost. However, crashing your bike while "just riding along" (JRA) is NOT a named risk and you can wind up SOL. Afterall they are trying to guard against fraud and keep the bottom line in the black. Getting hit by a car usually means you have to go after the driver's insurance company, and that he has to be found at fault (they can split the fault by percentages) and then you may get a depreciated award on your claim, but it can vary by state and insurance company. I've found all this out the hard way and felt like I've been gyped on more than one occassion over the past 25 years. Ultimately things vary from state to state along the laws of that state. It is worth the time and effort to figure out just what exactly you will be covered for in your state by your insurance company - they're in the business of making money, not giving it away. Realize that most insurance people can not fathom the idea that a bicycle could cost more than a couple hundred dollars new. The idea of a $5,000 bike usually leaves them speachless.
re: bicycle insuranceMCCL
Jan 17, 2002 12:16 PM
Here is what I have experienced twice. When I got hit by a car I invoked my insurance because I have what is called delux or replacement wrote in it. Yes the person that did hit me finally paid but they were to pay my insurance co. who told me to get the bike replaced and it will be covered at today's price. Here you have put the insurance co. in charge of going after your claim. But the negative impact may be that you will not get your claim paid by the person(s) insurance that hit you. Thus you will be out your deduct. The second time I got hit which is by a person on the bike trail that swerved in front of me and broke my bike into two pieces. I am still working on this claim because I haven't received my new bike. I did turn this claim over to my insurance co. They said go out and replace my bike. They gave me a check for about a fifth of the replacement cost and will reimburse me when I receive the new bike. Thing's that will help speed up a claim or give some ground to stand on is to have a police report made. Right then and there if possible. Sometimes the law only allows you 24hrs. to do this so call police in any accident and let them be the judge in showing up. Usually bikes will always have bodily harm and most of the time it's mandatory but this will have to be verified per your state. My insurance carrier is State Farm and I am not advertising for them but if you wanted to verify what I am saying then I would suggest you make contact with a rep. Good Luck MCCL
re: bicycle insuranceWayne
Jan 17, 2002 12:18 PM
As others have said Home owners or renters insurance should cover if case of theft, fire, etc. If you are involved in an accident while riding and damage your bike you better hope someone else is involved and it was their fault. When I got a nice bike last year, I looked into getting insurance in case of a no-fault or a driver leaving the scene type of accident and no-one would give me a policy. If you race, USA cycling offers a no fault insurance (relatively cheap, about 50 dollars a year) that covers the bike during USA cycling sanctioned events.
re: bicycle insuranceVetteRacer
Jan 18, 2002 1:40 AM
Few questions I would like to add.

Dealing with car insurance, we have full coverage on all drivers and vehicles on the policy, if the car was stolen (my bike spends most its time in the cars trunk) the car insurance should cover it right? What about if the bike is on a trailer?

If in an at fault accident on the road, on the bike, could your car insurance cover it? Here in California I know that bikes are considered vehicles, we have to ride on the street, obey traffic laws, etc as cars do. Since I am insured on anything I drive would it cover that?

I am hopeing someone will know this, I dont have my road bike built yet, so havent bothered calling the insurance company to find out.