Now I'm part of that (select?) group. Yesterday, returning from a training ride, I destroyed my '98 QR TeQuilo. As I drove into the garage, the seat of the bike caught on the opened garage door, bending the top tube and down tube of the bike. Fortunately, damage to the car is non-existent and the roof rack only has minor damage that is easily and cheaply repairable.
I've looked at my homeowners insurance policy. It looks like I'm covered under my personal property clause. After my $1000 deductible (damn!), the insurance company will pay full replacement value (and won't "ding" me for depreciation).
My questions, in no particular order:
- How does the insurance company determine "replacement value"? Should I do my homework ahead of time and research various prices on a NEW QR TeQuilo, just in case the insurance company tries to "low ball" me?
- Can you think of any reason why the insurance company might try to deny my claim? For example, "negligence" due to my stupidity? I can't find "negligence" anywhere in the policy as a reason for disallowing a claim.
- Will I suffer any consequences such as increased homeowner insurance premiums due to the fact that I'm making a claim?
- Any other pitfalls that I should be aware of before making the call to my insurance company?
Anyone with any real-world experience or insurance industry insight who would like to help me out here is welcomed to contribute their $0.02. Your assistance might help others out there who will someday find themselves in my shoes. Thanks VERY much in advance. No need to tell me how much of a fool that I am--I'm painfully aware of that! :-)