Homeowners ins. for bike coverage?????

Homeowners ins. for bike coverage?????

Post by Mark Connoll » Fri, 26 Apr 2002 04:18:37


I'm moving next week and I'm exploring my options for insurance coverage.  I
want to make sure that my bikes are covered for theft and accidents.  I know
very little about ins. and hoped someone could help.  I recently read in
USCF magazine to go with a HO-5 policy but I'm finding this usually only for
new homes.  Any help would be great.
 
 
 

Homeowners ins. for bike coverage?????

Post by Jeff » Fri, 26 Apr 2002 05:19:55


Quote:
> I'm moving next week and I'm exploring my options for insurance coverage.
I
> want to make sure that my bikes are covered for theft and accidents.  I
know
> very little about ins. and hoped someone could help.  I recently read in
> USCF magazine to go with a HO-5 policy but I'm finding this usually only
for
> new homes.  Any help would be great.

Mark,
you realllllly need to specify where you'll be living.  Rules and
regulations regarding insurance vary widely between legal jurisdictions.
The other caveat is that you'd be better talking to an insurance agent in
your home jurisdiction than taking free advice from some guy on the web
(that includes me :-)

Jeff

 
 
 

Homeowners ins. for bike coverage?????

Post by Kevin Metcal » Sat, 27 Apr 2002 01:32:57

Quote:

> I'm moving next week and I'm exploring my options for insurance coverage.  I
> want to make sure that my bikes are covered for theft and accidents.  I know
> very little about ins. and hoped someone could help.  I recently read in
> USCF magazine to go with a HO-5 policy but I'm finding this usually only for
> new homes.  Any help would be great.

Before I bought a home, I had renters insurance.  My wife and I had
$13k worth of bikes stolen out of our garage.  They covered it.  Then
some time later I got mugged and got a $3500 bike taken away.  They
covered that too.

Of course, then they canceled me.  :-(  I guess they didn't think that
the $200 a year they were getting was enough...

Now that I have homeowners, I haven't had anything stolen. (knock on
wood)  I know plenty of people who went though the same sort of things
that I did with homeowners and they were covered also.

Keeping receipts and such will help if you need to make a claim.  Or
at least pictures.  Also, while they will give you replacement value
(minus your deductable), they will initially give you the present
value of the bike(s) that was/were stolen.  After you purchase a
replacement and and submit the receipts they will reiumburse you for
the rest.

I don't have any idea about accident though.

Kevin Metcalfe

Pleasant Hill, CA

 
 
 

Homeowners ins. for bike coverage?????

Post by Kenneth Lyo » Sat, 27 Apr 2002 10:36:24

Quote:
>I don't have any idea about accident though.

My homeowners policy (State Farm) covers my bikes if they are damaged by a
vehicle hitting them, but not if I take a dive by myself. Luckily (?) when I
went down and broke my scapula, a  BMW came along and ran over my bike, but not
me.

Ken Lyons