Homeowners insurance rider for bike?

Triathlon Forum
1

Hi all,
How does it work as far as insurance for a new bike? Do you add it to your homeowners insurance? Is it an extra rider on the policy kind of like jewelries (rather have a bike than jewelries.)?

Thanks!

KK

2

Homeowners insurance will only cover your bike if stolen from home.

If you crash or it is stolen from your car, you’re out of luck unless you get bike insurance like Velosurance

3

My homeowner’s policy covered bikes that were stolen from my home (garage) without having any extra rider.

4

Jewelry and bikes are scheduled items on my home insurance; the coverage follows the scheduled items and covers damage and theft outside of the home.

5

Homeowners insurance will only cover your bike if stolen from home.

If you crash or it is stolen from your car, you’re out of luck unless you get bike insurance like Velosurance

My insurance company did not have a rider for bicycles, instead they asked me for a stated value of all sporting goods (that was a fun conversation with the agent when he did not believe his assistant when she told him how much my bicycle was worth…). I also asked specifically if it would be covered if stolen from my car and they said it would (granted, i have my car insurance through them also and did not specifically ask if it was home owners or car insurance that would cover that).

6

Homeowners insurance will only cover your bike if stolen from home.

If you crash or it is stolen from your car, you’re out of luck unless you get bike insurance like Velosurance

I’m in Canada. My home insurance covered my bike when I crashed. I would advise people to check with their insurer.

7

I’ve crashed two bikes. One covered on renters insurance and one covered by my car/home insurance. Neither needed special rider. I feel like the bike insurance is a scam because most of us are covered already.

8

Might be worth asking your insurance company directly just in case. My current company took care of me with no problems a few years ago. However I’m price shopping this year and came across Lemonade. They are super cheap but have a separate add on for bikes where you state the value and the additional premium is calculated.

9

I am currently shopping for insurance on my bikes and looking at many options that cover “travel damage”. One concern i have with my homeowners insurance is the deductible I have. I haven’t yet done the math on how much my premiums would change versus time to evaluate the cost benefit. One thing I notice on velosurance is that they don’t depreciate your asset from when you start insuring it.