Subject: RE: Bike Insurance - Stolen bike I went thru with State Farm last year. We had three bikes stolen out of the garage. One was found nearby, other two gone.
State Farm is BS'ing you. They paid me back full retail replacement. They did it in two parts, some wonky BS depreciated amount upfront and then the difference when I gave them proof of replacements.
I'd not insure your bikes with your home. What will happen is that you pay your home owners deductible and then fight for replacement value. You also end up with a non home claim on you insurance record and get two of those within a few years of each other and they will not renew you. To see how bad this is spend some time looking for local home owners ins that is government sponsored, it should scare you lots. You can do personal article plan on the bike (s ). This provides separate replacement coverage no matter what happens. It also avoids the ding on your home owner's insurance. Shop costs on this, I found State Farm to be crazy expensive and have not followed thru shopping other sources. We now keep all of our bikes under lock in the garage and never out of our sights when out side. |