considering i will very soon have similar money invested in bikes and cars, i was thinking about insuring my bikes, especially for crashes/theft. Im about to buy a really expensive bike (thinking vortex), and would hate to crash, break the frame, and not have the $4000 to replace it (or at least not want to fork it over). Anyone one else do this, know anything about it?
I spoke with my state farm agent a couple of years back about this very subject. your home owners will cover it if stolen; if damaged in transit, while attached to your car, your auto insurance (or the other driver’s) will cover it; if damaged in a crash, you’re on your own. this, again, is the state farm version. they used to cover bikes but it was really high compared to other things (homes, jewelry, etc.), and evidently not many takers so they discontinued the offering. other insurance companies may offer something, but all my stuff (home, life, auto) is with state farm and has been forever. but if some other company does offer it, I’m sure it will be expensive…covering a “fragile” piece of expensive equipment used in a “dangerous” sport isn’t a good business plan.
This topic has been discussed a few times. Look at your homeowner’s or renter’s policy contract carefully and talk to your agent to understand what is/isn’t covered. Your agent should be your best source of information for this. Also, save your receipts from the bike itself as well as any additional equipment you install in the event you need to “prove” to the carrier’s claims adjuster that, yes, the cost to replace the bike really is what you say it is. It also can’t hurt to have a few good photos of the bike to further document your purchase.