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Discussion Starter #1
Hey guys-
Just purchased a new Specialized Dolce sport the other day and my dad seems to think I should look into insuring it. Anyone insure their bike? And if so, with who and about how much do you pay per month/year? Thanks!
 

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Not exactly sure where you are, but here in Tennessee, my homeowners covered my bicycle when I was struck by a motorist in August of 2011. Of course I had to pay my deductible or actually they kept it out and paid the replacement cost of my bicycle supplied by the LBS where I bought it. Ask you agent though, things might be different where you live. It's always good to get something in writing as well, paper trails are good, in cases like this.
 

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Most that do have a rider on their house insurance, or renter's insurance. The other question is, is it worth insuring. If your bike cost $1000, and you have a $500 deductible, it might be better just to put together the rest of the money and buy a new bike than to file a claim, lose any discounts for not filing claims etc.
 

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I was lucky, I suppose, I didn't have to add onto my home owners policy. I bought a TREK 2.3 (worth app. $1750.00) I had a busted brain bucket, torn up jersey, pedals, shoes, riding shorts, gloves. All were not worth saving and everything was replaced, less my deductible of course. After I was paid, I took that money and with what I had saved and bought a project-one. Much better upgrade, but worth it. I would NEVER want to be struck again. even for an upgrade, I can tell you that much. Bottom line is this, what do you want to happen in case of a loss? At least you are thinking now, I waited and about messed up!
 

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Discussion Starter #5
Thanks for the advice guys! And sorry about your accident Frankie, sounds pretty rough. Good to see it hasn't slowed you down tho! The bike itself was priced at $1075 but I got a pretty nice discount on it. I live in Illinois and my dad is a photographer so we've got tons of expensive equipment around and he told me he just found out that none of it was covered under our homeowner's insurance so he's assuming the bike isn't either. Plus, I actually live in a college town so I'm more worried about it getting stolen than anything else... already had it happen once with my Trek. I guess I was just trying to see what the norm was on whether or not people did insure their bikes. I'll definitely have to look into it. Thanks again!
 

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So what lock to you have? That is certainly the first step. While a lock is certainly just a deterrent, and having seen video of a guy working at a bike lock for 9 minutes with a power tool before being questioned it isn't the end all solution. But certainly if there are other bikes parked with yours, most likely, the one that is the worst locked will get stolen first.
 

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Discussion Starter #7
Yeah I had a cable lock before and when I reported it stolen, the police officer told me to get a U lock next time so that's what I've got now
 

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Yes, a good U Lock, or if you're paranoid, both. I usually don't worry about my front wheel if I'm close to home, but sometimes take a cable to connect to the U-Lock. Also be sure its not one of the old U-Locks with the cylindrical key. My wife on the other hand would not want to lose her front wheel.
 

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Some of the locks come with "insurance" as well. Could be your best option.
 

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Last year I purchased a "rider" to my homeowner's policy that covers all my bicycles AND gear. It also covers ALL of my skiing equipment. ANY and ALL losses are covered except normal wear and tear and the deductible on my policy DOES NOT apply. So I am fully insured with no deductible (my ded. is $1000 on my policy) for the first dollar lost.

The "rider" cost is $50 per year for $2000 of coverage per loss and $100 per year for $5000 per loss.

My insurance company calls the rider an "Adventure Package." I feel the cost is well worth the peace of mind it brings, especially since I've got well over $10K invested in just my bicycles.
 

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Last year I purchased a "rider" to my homeowner's policy that covers all my bicycles AND gear. It also covers ALL of my skiing equipment. ANY and ALL losses are covered except normal wear and tear and the deductible on my policy DOES NOT apply. So I am fully insured with no deductible (my ded. is $1000 on my policy) for the first dollar lost.

The "rider" cost is $50 per year for $2000 of coverage per loss and $100 per year for $5000 per loss.

My insurance company calls the rider an "Adventure Package." I feel the cost is well worth the peace of mind it brings, especially since I've got well over $10K invested in just my bicycles.
So if you crash on your Project One it's covered as well? I'm thinking 50 bux a year is hard to beat but sounds short to cover something like your Madone!
 

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I've opted for the $5000 of coverage for the $100 premium. That should cover approx 85% of the Madone and easily cover a loss to any of my other bicycles. Yes, the insurance does apply if I wreck, anything other than normal wear and tear of the bikes.

Ride safe.
 

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Discussion Starter #15
thanks for the advice... $50/year is hard to beat! I will definitely have to look into that!
 
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