Velonews.com - question on bycile insurance

[al0]

Velonews com has published following question:

http://www.velonews.com/news/fea/13846.0.html

A consumer question
Dear VeloNews,
Does anyone know if there is anyone that sells bicycle insurance? I have a few expensive bikes and want to protect them from theft, crashes and such. I know some European companies offer bicycle insurance, but do we have that option here in the U.S.?
Darin Baer
La Canada, California We know that some homeowners' (and renters') policies allow for special riders to be added so you can cover unusual and expensive items like jewelry, furs and even bicycles against losses related to theft and fire. Those often don't always cover crash damages - especially race-related mishaps - so we'll put this question out to our readers. Does anyone have insurance that broadly covers that $10,000 carbon artwork sitting in your garage? - Editor.


I know that this question was discussed here many times, so it may be a good idea if somebody knowledgable would write to webletters@insideinc.com.

[Jeff G]

When I spoke with my agent the other week to have them update the name of the property owner (as it recently changed hands) on my renters insurance policy, I asked if there was any special rider I needed that would cover my bike. They asked if I kept it inside my apartment, which I do, and if I raced the bike professionally. I told them I wasn't a racer either pro or ameteur. They said the cost of replacement due to fire or theft would be covered, less my deductible of course. So if I have to put in a claim for my 06 Scott S30 which I paid 899.00 for new, I figure an 08 would probably run in the 1400.00 area, so the insurance would cover 900.00 of the replacement cost.

[DM-SC]

We have a rider on our home owners policy for our bikes.

[redjeepjamie]

Homeowners does cover theft,fire,loss,and other basic perils but it does not cover if you crash it.

[vigilante76]

Yep. Our insurance here (Canada) covers 3000$ for each bike. More than than and you gotta pay a higher premium... something around 100-250$ a year more.

[walleyeangler]

When you say your rider covers bikes, that's theft etc...not crashes, right?

State Farm will insure them but the cost is like 10 percent a year with a $500 deductible. Really doesn't make it worth it on most bikes after about two years. Cheaper to self insure.