i’m interested in renter’s insurance, particularly to cover my bikes.
anybody have a positive experience and recommendation? i’d be especially interested if you had a good experience filing a claim.
thanks!
I had a 1988 stumpjumper that I had repainted and converted into a single speed commuter bike (it was sweet…orange paint from Santa Cruz) and worth about $150 tops. It was stolen (probably by my paper boy) while I lived in L.A.
My renters insurance googled “specialized stumpjumper” and came up with an FSR model valued at $2800. I said “look, this wasn’t anything like that” and he replied “hey thats what I come up with…you wanna check?”. A week later I had money to buy a Santa Cruz superlight and a new digital camera.
is that a good experience?
you be the judge.
Best to be protected I had two bikes stolen and was taken care of when the claim went through.
Just verify with your insurance company that the bikes are covered and the scenarios as well.
thanks - i meant to ask: specifically, which insurance company did you have a good experience with?
thanks - i meant to ask: specifically, which insurance company did you have a good experience with?
I am with Allstate, claim took about two weeks to get finalized. They had some delays due to both bikes being highly customized.
One of the bikes had a lot of custom parts from Europe, not the kind of thing you can find on amazon.com
USAA - best company in the world if you are eligible.
Similar story to the other poster on bike theft a while back. Softride Powerwing (god that was a an awesome brick of an aero bike…) that got stolen while locked up (yeah yeah I know). I had purchases it used for $900, 105 components, etc. Insurance company called a local shop to verify and the shop quoted them for a $2300 model brand new and even after I argued they sent me a check for the $2300. Did I mention that I still had the front wheel as it wasn’t locked up! Double score!
Anyways, make sure you get replacement cost as part of your contract. Obviously if things get ripped of repeatedly they’ll probably shut you down but in my experience it’s a no brainer.
State Farm treated me very well when my Felt B2 was stolen from my apartment. Took my word for it on replacement value. Turn around times were pretty quick. I’ve happily stayed with them since.
If you have Costco’s homeowners/renters policy, you can add the “outdoorsman” rider for $150 a year. Covers all kinds of crap - cycling gear, including bikes, clothing, helmet, etc, camping, fishing, paddle sports. Covers not only theft but damage, even if it’s solo - like if you crash your bike. No deductible with a max $2500 reimbursement per claim with no max claims per year. It’s a no brainer. Too bad I found out about it after I wrecked last November…
X2 on the USAA!!!
Had a Cervelo P2 stolen and they didn’t flinch when I filed for it. They just rang a local shop to got the replacement cost and within two weeks I had my money after all paperwork/police reports were in. Just make sure you can note all the parts on the bike like bottle cages, pedals, etc.
USAA - best company in the world if you are eligible.
Similar story to the other poster on bike theft a while back. Softride Powerwing (god that was a an awesome brick of an aero bike…) that got stolen while locked up (yeah yeah I know). I had purchases it used for $900, 105 components, etc. Insurance company called a local shop to verify and the shop quoted them for a $2300 model brand new and even after I argued they sent me a check for the $2300. Did I mention that I still had the front wheel as it wasn’t locked up! Double score!
Anyways, make sure you get replacement cost as part of your contract. Obviously if things get ripped of repeatedly they’ll probably shut you down but in my experience it’s a no brainer.
I was going to do USAA, but I wasn’t happy with the cost, once I got the deductible down to a level that felt useful in the event my bicycle was stolen. So I guess this depends on the “value” of your equipment. However, my lock has an insurance level in the event someone gets past it. I’d be much happier if I could find an insurance that provided insurance similar to “automotive” insurance in case someone hit’s me (accidental, medical, theft, malicious damage, natural disaster, ect.). I couldn’t quite get them to accept the 130# “engine” that currently propels my bike.
I had good experiance with erenterplan.com . It’s underwritten by American Modern Insurance Group, and they are who the claim goes through. When my wife’s POS full suspension bike was stolen, we got a lot of money for the supposed equivalent Specialized minus depreciation.
When my apartment building burned down two years ago, they treated me good too - better than my apt. complex. Ruined my racing season though.
I had 3 bikes stolen from then being hung in my garage.
House had an alarm, and somehow they still managed to break into the house, got into the garage and took an Orbea, a Cannondale CAAD 9 and my wife’s FUJI Road bike.
we have had Farmers for 6 years now, when the Alarm Company notified us that the house alarm was going off, the police showed up and we immediately called our agent, the first thing he told us was that a bung of things had been stolen, including the bikes.
when we returned home, he was waiting for us with a check for EVERYTHING.
Farmers is awesome.
USAA - I had a Cannondale stolen years ago and they processed the claim quickly and painlessly.
another vote for USAA (a lot more people are eligible than used to be). You don’t need an extra rider, just include the bike(s) in the total value of what’s insured. They are quick and pay replacement value. I only know of one person who’s been dropped by them for too many claims.
Was everyone’s bike stolen from their homes or were they locked up in public or in a car or something?
I had my Kuips Summa stolen outside of my office while at work. Called up the insurance company (State Farm) and provided them with all receipts and a photo of the bike. Even with the receipts, they still valued the replacement at more than double what I spent on it (was a completely custom, pro level build). Only issue there was that since it was in my first year of having renters with them (though I had my auto policy for over 3 years), they dropped my renters policy. So I dropped my auto with them after.
I had mine stolen from the back of my car while it was locked outside a bike shop picking up my other bike. Really no other questions asked.
USAA. Older road bike stolen from apartment building garage. Worth about $500. Got $2000 as new value replacement. No hassles.
Was everyone’s bike stolen from their homes or were they locked up in public or in a car or something?
Balcony.
And because the cops never really did anything, it got me out of jury duty for a shoplifting case a couple years later 
I’m curious about all of you who have gotten insurance money; did you have a deductible or did you explicitly itemize the bikes? In my experience, there is almost always a deductible on renter’s or homeowners insurance. Right now I have a $1000 deductible on all personal belongings, including my bikes, with the exception of a few pieces of jewelry and a camera, which are itemized. If I itemize my bikes, I could easily add $500-600/year to my premium.
If my bikes get stolen, I get full replacement cost minus the deductible. Curious if I’m doing something wrong!