Bike Insurance

[Goodaches]

I'm looking for recommendations on bike insurers. There seems to be a few companies in this business now but I don't know anyone who has used any yet. Relying on homeowners insurance has at least two major problems for me. 1) The amount of coverage allowed in the policy leaves a lot of exposure. 2) We're planning to get rid of everything to cycle around north America for a couple of years. During that time we won't have a home to have homeowners insurance. So, the bike specific insurance sounds like a great idea but who has built a good reputation in this market? Thanks.

[Nick_Bonner]

I have renters insurance and have 'specifically scheduled' all of my bikes. Each is covered for 100%replacement value at no deductible. Costs about 150/year for $16k on 5 bikes and aftermarket components.

Can you not add your bikes to a family members policy? Where is your permanent address for tax purposes?

[DaveB]

You can buy a "floater" insurance for nearly anything with the premium, obviously, dependent on the value you declare.   

[Goodaches]

Nick, Besides a police report, what else does your insurance company expect if you were to file a claim. I'm specifically interested in knowing how substantial (heavy) of a bike lock does the insurance company expect as your due diligence. The premium for the amount of coverage you have doesn't seem objectionable to me. When we embark on our couple year bike tour I didn't intend to have an address anywhere. To legally maintain my drivers license, pilot ratings, and flight instructor certificates I'll need to proclaim some spot as home but I expected that to be more along the order of paying a relative to allow my mail to come to their home.

[Nick_Bonner]

Nothing.

My policy covers all loss. If I leave it unlocked at the bar, check. Crash it, check. Break the frame, check. So they say at least.


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