insuring expensive bicycles

[900ss]

I have CSAA auto and homeowner's insurance and need to insure our bicycles. My wife and I have e-bikes and analog bikes that we haul around on weekends on a rear-mounted car rack. CSAA will insure them against damage or theft with a rider or endorsement to our homeowner's policy, which we do not yet have.

I haven't yet checked pricing with them. With the rise in thefts of bicycles I am exploring my best options to insure primarily against theft, either from home or while on the car rack. Additionally, insuring against damage if someone bumps and damages the bikes while they are on the car rack.

My son has Velosurance coverage for his but has become disillusioned with them for some reason.

As most of you are aware e-bikes can be rather spendy. On a typical weekend I will have the hitch, rack and two bikes totaling between $12,000.00 and $17,000.00 hanging on the back of the car. Crap, that's ferkin' scary to think about.

A long time ago I began using cable locks and Kryptonite locks (adding more weight and further expense) to "secure" the bikes while driving through San Fransisco or Santa Cruz.

 

[lefty]

I too would be cautious when traveling with that amount of $$ hanging on the outside of your vehicle.

I used to hang both of our MTB's in my garage, then I thought about the fact that I had $8K in those two bikes sitting in the GARAGE, so now they live inside the house. I have not looked into insuring them separately though. Hopefully they will be covered under my homeowners policy, if something bad happens.

Good luck to you.

 

[greenmonster]

I was at Concord BMW a couple of weeks ago and they had some Ducati ebikes in the $8,000 price range. Not the kind of thing you leave outside 7-11 while you’re inside getting a slurpee, even if you chain it up.
I’ll be interested to see what the answer is.

 

[HappyHighwayman]

I also use Velosurance

 

[afm199]

Yeah, I think about this, though I only ever have one bike out on the road. ..

 

[berth]

Hopefully they will be covered under my homeowners policy, if something bad happens.

Its worth checking on. Insurance companies don't like to insure things that are "extra" expensive without a special note (and fee) on the policy.

With bikes jumping from a $200 Huffy to $8K eBikes, pretty sure the company is going to balk at those.

 

[rcb78]

I am very careful when reviewing my homeowners policy to ensure my bikes are covered whenever we make any changes. Our policy with Mercury will cover them with the other contents of the house provided they are actually in the house, not the garage. The expectation is that I can provide proof of the value, which I can do easily.
On the car, they are covered as contents/property but they are NEVER left unattended, not even for coffee stops. I use a rear tray rack so the it's pretty much a guarantee that if they are damaged, the other car was at fault and rear ended me. Even driving around they are locked to the tow hooks just so no one nabs them at a long red light.
As far as accidents while riding, well that's just part of the game and the cost of coverage for a $$$ bike is not worth the damage unless it was a car and in that case it's not coming out of my pocket. The thing about crashing is that unless you hit a hard object, most of the time the damage to you will far exceed the damage to the bike, in that case make sure you have good medical. On that topic, my medical covers air lifts, something else to consider.

 

[Butch]

I am self insured. Well, except for $2mill umbrella liability.
I have saved a lot in premiums. Certainly enough to buy some new shit.

I guess the house is under Liberty Mutual, so it, and some contents, is insured.

We got burgled once. My only claim. Ever.

 

[HappyHighwayman]

I don't know about you guys but my home insurance claim deductible is vastly more than the cost of replacing my $2000 bicycle.

 

[Butch]

I don't know about you guys but my home insurance claim deductible is vastly more than the cost of replacing my $2000 bicycle.

In my opinion, insurance is for when loss of something is catastrophic and would be way more expensive to live without, even short term. Like you house, or your only car, or your leg. Otherwise is is just gambling with, if you are competent, and lucky, bad odds.

Just sayin'. Course, i have seen a few pretty significant insurance cheats in my day. Not my style.

 

[HappyHighwayman]

I agree. That's why I'm saying most home insurance won't really be covering your bicycle.

 

[rcb78]

I'm not as worried about loss through theft as i am about loss in a fire and the ability to claim them. Even so, if someone took all of mine I'd be hard pressed to not file a claim, deductibles and premiums have been considered.

 

[bpw]

I agree. That's why I'm saying most home insurance won't really be covering your bicycle.

Quite a few people around with over $20k of bicycles sitting in the garage. Especially since insurance generally pays replacement, not market value. So that $800 used mountain bike I have would be something like $6k for replacement.

I wouldn't bother to insure my bicycles specifically, but since I need homeowners coverage anyways its nice to know they are, and homeowners insurance is about the cheapest insurance around on a premium to coverage ratio. My deductible is only a few thousand, doesn't seem worth upping it given how cheap the policy is.

 

[KooLaid]

I BELIEVE that while it is attached to your vehicle, your car insurance should cover it. Double check with your agent.

I was also thinking about insurance for bicycles last week when I was E bike shopping. $6000 to $15,000 for a bicycle, heck yeah it's gonna have insurance. Made me also think..... there HAS to be some sort of title or certificate of owner ship for these things eventually.

And two ~50 lb ebikes on the back of a strap on bicycle rack on a trunk lid....scary stuff.

 

[mercurial]

And two ~50 lb ebikes on the back of a strap on bicycle rack on a trunk lid....scary stuff.

You won't be able to get away with that, even if you wanted to. The bikes are just too heavy. You'll have to splurge for a more expensive hitch mount rack system. Will run at least $600.