I just upgraded to a nicer bike and am looking to insure it because I’d never be able to afford to replace it… My renter’s insurance would cover it if stolen out of my house but not if stolen out of my car or somehow destroyed… So I have a couple questions:
Thanks for any input.
Shannon
My homeowners insurance covered mine when it was stolen from my garage. I’m not sure about crash replacement, but you should be able to add a rider onto your renters insurance, I think.
Keep posting, there are a couple insurance guys on here that should be able to help more than I can.
thanks!
do a search, it’s been discussed a bunch. if you still need any info, send me an email. dtinsurance at gmail dot com
Get a different renters insurance. Most - start at Geico and they will refer you to someone else if needed - will cover it if it’s stolen from anywhere. Same for homeowners.
probably want to start checking your policies a little closer. most (like 90%) of them will cover it if stolen, but only if stolen from a controlled area (transition should be fine) or if there is sign of breaking and entering. too many unlocked cars getting “broken into” lately. And i despise geico and their underhanded false advertising, not to mention that i want to punt the gecko and strangle the caveman.
*disclaimer: I am not bashing all companies but mine, I just really haven’t been happy with the lack of support their company has given to myself and other insurance agents. that is all. and, i hate their commercials.
wouldn auto insurance cover it if the bike were stolen out of the car or off of a rack?
NO!!! auto insurance will NOT cover personal effects stolen from the car. pretty much if it didn’t roll off the production line with it, it won’t be covered. some things (stereos, etc) are covered, but often only because the stock unit is actually more expensive to replace than aftermarket. a cd in the cd player isn’t even covered. any personal effects are covered under the contents portion of your homeowners/renters policy. That is why it is so important to have renters insurance if you don’t own a home.
“auto insurance will NOT cover personal effects stolen from the car”
That is 100% true. When my bike was stolen it had been removed (along with the WHOLE rack) from the top of my car. I didn’t even tell my auto insurance knowing they wouldn’t touch it.
My homewowners covered it (THANK YOU ALLSTATE!) promptly with a police report and all of the original receipts. So keep receipts, get a good police report, and plenty of photos to cover yourself. Better safe than sorry.
As for homeowners coverage, on my policy I only receive 100% of my coverage inside my home. If something were to be stolen away from my home, I only receive 10% of my coverage (goes from $70,000 down to $7,000).
Read everything closely and make sure you get answers to anything you aren’t clear about.
I would have to ask my wife, but I think we pay something in the area of $16/year to add the bikes to our home policy. I’m about 99% sure this covers theft outside the home.
I have a special articles policy from St. Farm. On an annual basis is ain’t cheap ($10/per ever $100 of value). But I could just about toss the bike over a cliff and be covered … and that peace of mind is very comforting for my two “high priced” bikes.
All other bikes are on my standard home owners policy as I cannot justify the cost of the special article price.
I’m guessing any major insurer will offer a similar policy.