Bike Insurance

When my MTB was ripped off from my locked garage 4 years ago, I found out my homeowner's insurance covered up to a max $1000 (which is what it was worth, luckily) and they waved the deductable since it was my first claim with them. Since then, we've had to raise our deductable to $1000 to keep our premiums down, and they offer no additional rider for bikes, so I'm screwed if it ever happens again.

My rates went up after the claim, or I should say we lost our "claim-free" discount status for 3 years I believe, but it was worth the rate increase since the claim was for more than the rate increase.

I was told by my broker that if the bike was stolen from my vehicle, my auto insurance would cover the entire loss with no upper limit, but I'll need to check my policy to be certain.

This is something that I asked, and they said as long as any damage or loss occurred from a normal peril (i.e. Flood, wind, tornado, etc...) it would be covered, other than that I am on my own

Benihana

Generally homeowners and renters policies cover (like has been stated) up to a max amount for certain items (i.e. guns, jewelery etc.) which could be $1k, $2.5k, $5k or whatever is stated in the policy. However, if your items are worth more then this you would need to "schedule" them with your carrier, which basically is listing each item, the value and upgrades and submitting pictures with them is also a huge plus. In some cases it may make your premium increase, but very minimal.

It would probably be a good idea to pull out your policy and check Section I: Property Coverages Under "A: Personal Property" it will spell out the general coverage for your personal property and then list the limitations on each category of items. Then list what is not covered. If sporting equipment is not listed specifically (as in my renters policy) then it is covered under the general coverage with only the total policy limits as your limitations.

 However, it would be a great idea to make a list of all of your bikes (and other tri equipment) the components and take good pictures to have for your records in the case of unfortunate events. This is actually a good thing to do with a lot of your stuff. It will save you MANY MANY Headaches if/when anything happens.

 Hope this helps.

I would ask him to put in writing and provide proof that his/her E&O coverage is paid up. 

Something that is a good idea to do regarding what was said is to doccument everything in your household.

Take a video or digatl camera and take pictures of every room, closet, drawer, cubbard, nook and cranny.

If something terrible should happen like a fire, if you try to sit down and list every single item you own, most of us would be lucky to list 50% of the things in our house on a good day. If you try to do it while going through a crisis, well guess what. In addition it makes it easier for the Insurance company to verify what you had. (Don't go borrowing the neighbors PCS to take pics of:))

Another item to consider if you have replacement cost which you should, make sure the limit is adequate to cover that cost. A lot of policies if you have a limit of $50,000 and have a $100,000 worth of stuff and have a $20,000 loss you may only receive $10,000.

Oh keep those pic/viedos off premises. 

Who is your insurance carrier?