Insurance on Bicycles?

I called my insurance carrier (State Farm) and got a personal property rider on my Cervelo P2C that was stand-alone from my auto and renter's insurance policies.  That way, if something happened to my bike, I could claim against that without impacting my auto or renters insurances.

And, for $50/year, I ended up receiving $5200 in benefits from the policy.  Someone backed into my car and cracked the carbon frame.  I called my insurance and they said to take it to a shop, have it fixed (which meant replacing the frame at $2k), and send them the invoice.

6 months later, the bike was stolen from the trunk rack of my car while I was loading up the truck to move.  The thief cut the cable lock, took both of my bikes, and was gone within 2 minutes.  Insurance paid full value of the policy ($3200) which enabled me to purchase a different bike (since that one was bad-luck, apparently).

So you pocketed the money and bought this bike?  :-)

Most insurance companies will pay for replacement up to a certain amount.   I can tell you right now, it won't be close to enough.

We got a Rider for my bikes and my wife's jewlery.  It cost us like $40/yr.  HIGHLY recommended.  It is part of our Homeowners policy.  So basically, if I leave my garage open and I come home and my bikes are gone, they get replaced.

Best money spent!

Do you have to pay your home owners insurance deductible first or is it seperate.  Because mine is $2000 so that would save me some money, but i would still have to shell out $2000.