I know some people can put them under their home owner’s policy, but I am currently renting an apartment so now sure if it can fall under rental insurance or not. Are there any independent places that will do it?
I would check out your renters insurance and get them as a named item - that is what we did when we rented waiting for our house to be built… Hope this helps
Yep, you should be able to just add it on as a rider. Not too expensive. Just make sure you have it insured for the proper amount.
I have my bikes listed on my renters policy. It’s really not that much more and it’s nice to have the peace of mind.
Mine is covered by my renter’s insurance…totalled a TTX about a year and half ago and just had to pay deductible to get new frameset.
Whatever you do (as for what insurance you have it covered under) keep the receipt and take a picture of it with its current components. That way the insurance company doesn’t think you are making your ownership up if it gets stolen.
I have a separate insurance for my bike. Doesn’t cost much at all.
My insurance has a copy of all the receipts for everything ‘added’ to my bike : pedals, wheels, bottle cages- ALL OF IT!
My home insurance only covered up to $2,000 if something happened.
This way even if I crash, or it gets stolen - I can get the value, incl. all the ‘extras’. My insurance lady didn’t have a clue as to how much it was all worth, once I told she agreed it’s best to insur.
Ask your agent.
I suspect this varies from company to company and even state to state. My homeowner’s policy does not require that they be separately listed and do not require a “rider”. Now there’s an open door…
I have videos of each bike, it’s components, spare wheels, etc. I have a copy at home, in the safe deposit box, and at a friend’s house.
This may seem like overkill, but should you need to file a claim, complete documentation speeds up the process.
Mine is covered by my renter’s insurance…totalled a TTX about a year and half ago and just had to pay deductible to get new frameset.
Did you wreck it while riding it? Or damage it some other way (on roof rack, backed over it with a car, etc.)
My insurance company says that my bikes are covered under my homeowners (or renters) as long as the total that I’m insured for is high enough to include everything including my bikes I’m covered against theft or catastrophe at home. I’m not covered against a crash, or a theft away from home. I asked about a special rider for that situation and found out that the premium for such coverage would have exceeded the value of any one bike I own in about 2 years, so I opted out.
A crash will never be a huge loss. Frame: $1k. Individual components may be a problem too, but I’ll be able to salvage most of the components and usually 1 wheel. Plus I have so many spare parts, wheelsets, frames, extra bikes, that I’d never find myself NEEDING to replace anything.
I rent an apartment as well. I never had renters insurance until I got my bike, mainly because I was a bum.
I got Amica insurance. I have a rider covering my bike (and it has all non-stock parts listed). My yearly premium is $235, and covers $20k (or $25k maybe). I specifically asked if I’m out riding and it gets wrecked, is it covered. The response was yes.
Call around ask. For me its worth it.
step 1: renter’s insurance (if you can get it)
step 2: ride cheap bikes
I use both these steps, and I’ve had no problems I couldn’t overcome.