I’ve also got USAA and face the same problem.
Ideally, I’d like something to cover 1) theft, 2) damage in the event of an accident.
Anyone? Anyone?
Hmm, I have USAA renters insurance (I’ll trade you my rent for your home if this helps;) and it does cover my bikes. Proven when my softride was stolen and they ended up giving me $2200 for my $900 used Softride Roadwing. I even called to tell them they had screwed up, but said they had to go with the team that handles the claims:) I’m still insured through them and have used thier coverage for a few other stolen items as well including an auto break in.
Where was it stolen from? My bike is covered if it stolen out of my house, but not if it were stolen at a race.
It was actually a few years ago dorming at college. Had the bike locked up outside. Yes I know this was stupid but I couldn’t get the bike inside and it was just sitting at my parents house at the time. I figured I had insurance, 2 u-locks and a fat cable, lasted 5 days… The next bike I never washed, put duct tape all over it, made it look like crap and the worst ever was when the pedals were stolen. Later I’d carry my Powerwing up the back stairway 12 flights, and that thing was a beast…
And your insurance covered the theft outside of your dorm?
I too have USAA and spoke with them about damage to the bike done while riding, if it were involved in a crash, and theft from a locked state outside or in a locker somewhere. They assured me all were covered. I even explained that “covered” didn’t mean buying me a cheap-ass road bike to replace it (which I’ve heard other insurance companies have done) – but that it was a high-end item, worth several thousand dollars. Just to be sure, the woman I spoke with spent an extensive amount of time talking through it with the manager and they said again, “it’s covered.” While I opted to increase the overall value of my renter’s insurance, my deductibles weren’t that high - I think my whole policy is still under $200. You either have tens of thousands of dollars worth of bikes to insure, or maybe you live in a high-theft area? Although I live in the Bay Area so who am I to talk.
Since there are enough of us with USAA insurance, it might be worth writing them as a group and asking them to respond. They seem to be a pretty good company (always have been in the past anyhow) and would probably be interested in clarifying these details to retain policyholders. What do you think?
I have USAA for auto insurance, banking, mutual funds, etc. But I went with Armed Forces Insurance (http://www.afi.org/) for property insurance, after comparative shopping (this was 15 years ago, so I don’t remember all the details). What I do know is, they have competitive rates, and full replacement value coverage, if you so elect it. Bikes are covered (whether riding it, left on your lawn, or chained in your basement). I made a claim for my oldish Ping/Calloway clubs stolen from my trunk about 10 years ago - no hassle, paid for brand-spanking new clubs. Give them a look-see.
You could not be more incorrect. The standard homeowner’s policy covers personal property anywhere in the world. Your stolen bike would be covered anywhere. A replacement cost policy will replace the bike. You will not receive a “prorated” amount as someone else said. The crash would be covered as well.
The benefit to scheduling or buying a rider to your policy is that you increase the perils that are covered (Ex. you have coverage if you misplace or lose the bike which would normally not be covered). Also, you would typically have $0 deductible for the scheduled item.
It slays me that people who know so little about insurance buy their coverage from an 800 number. Go see you local independent insurance agent. Would you perform brain surgery on yourself.
That is my free advice for the day.
Ah, so while I may be covered because I am a renter, I would not be as a homeowner? That’s kind of silly. Where I live is not high-crime either, although bicycle theft is a big problem in the Bay Area in general. I asked USAA whether I’d need such a rider and they said no. Not sure if I am on a separate plan either - I’m covered because my father was in the Navy. I’ve never seen “CIC” before. I hope you find a satisfactory resolution to your query, and I’d be more than willing to sign any letter someone wanted to put together to send to them.
Your post is hilarious. What states do you have an insurance license in?
Andy