|Can you insure your bike for theft (outside home)or crashes ?||Maartin|
Mar 4, 2003 6:05 AM
|I have read recently here that a insurance company paid to replace someone's bike after a crash. I thought all you could get was homeowners insurance to pay for replacement if stolen from your apartment or house. (after a $500-$1000 deductable) Anybody know a better way ?|
|yes, but in our case it wasn't cheap.||sickofit|
Mar 4, 2003 6:43 AM
|I bought a new tandem last year for about $5,000. I insured it in case it was crashed or we were hit by a car and they took off and gave us no recourse. It was an additional item listed on our homeowner's policy. It was pretty expensive though and I decided to cancel it after 6 months.|
|homeowners, renters, or USAA...||DougSloan|
Mar 4, 2003 7:25 AM
|Your homeowners or renters insurance probably covers it for theft or accidents. Read your policy to be sure, though.
Specific bike insurance used to be offered through USAA (USCF). I don't see it there any more, though. Maybe you can find it: http://www.usacycling.org/
|USAA? dont' know where that came from -- USA Cycling nm||DougSloan|
Mar 4, 2003 7:27 AM
|Wouldn't advise it ...||sacheson|
Mar 4, 2003 7:32 AM
|Insurance companies are a scam. Regardless (irregardless? ;-]) of any premium you pay, making any claim will put you on your present insurance company, and any subsequent company's black list for the next 5 - 7 years (depending on the company). Your rates will go up and your ability to switch companies will be limited, and if the lobbyists get their way, your FICO score will be negatively impacted.
Getting some money back for wrecking your bike is little consolation for not being able to get homeowner's insurance (or just paying out the bum for it).
Last January, our garage was broken into. We reported it to our insurance company, but because the after deductible, after depreciation payout on the claim was not going to be much, we didn't even pursue the claim with the company - i.e. they never paid a dollar. Because three years prior, we had a homeowner's claim for a couple of hundred dollars, we were lumped into a "high risk" pool (that's two losses in 5.5 years with one company, and one claim). We were dropped like a bad habit and are now paying 2.5 times more for less coverage per year.
Don't (I repeat - DON'T) fall into your selfish, greedy agents scams and buy up a lot of coverage you'll be banished for ever using.
Thanks. Stepping down from my soap-box now.