Bicycle Austin forum

AlexG

Member

Registered: 2014-02-07

Posts: 5

Are there any bicycle insurance companies?

Hello, I am a newbie but I believe it is the right section of the forum to post this question.
I wonder if anyone has insured his bike with a stand-alone policy? I have 2 bikes , a road bike ( Cervelo R3 ) and a mountain bike ( Giant Anthem X29 ). Both bikes are relatevely new and I am afraid they might be stolen since bike theft rate is high in my neighborhood. I am currently keeping them in my backyard chained to a fence. But the backyard is very easy to get into.  I have a renters insurance policy and I am going to call them with a couple of questions I got about the coverage.

But are there stand-alone bike insurance policies available on the market, that will cover my bike no matter where it is and no matter what happens to it?

dougmc

Administrator

Registered: 2008-06-01

Posts: 631

Re: Are there any bicycle insurance companies?

Your renter's policy probably covers theft of the bicycles.  Though the deductible may be higher than you prefer, so you could get a rider that covers them specially.

Call your insurer and ask what is covered and discuss other options.

They sound like nice bikes.  They need to be kept inside -- outside, somebody will eventually realize that they're there, and then make plans to make them theirs some night when you're not looking.  But at the very least, use U-locks rather than chains.  (Or maybe you just used "chained" generically -- I dunno.)

As for covering the bikes whatever happens to them, I dunno.  Theft should be fine wherever it happens (but you'll want receipts and serial numbers, of course) but if you want to cover crashes, I don't know about that.

TheCyclingAdmin

Newbie

Registered: 2014-02-19

Posts: 1

Re: Are there any bicycle insurance companies?

Hello, I am a newbie but I believe it is the right section of the forum to post this question.
I wonder if anyone has insured his bike with a stand-alone policy? I have 2 bikes , a road bike ( Cervelo R3 ) and a mountain bike ( Giant Anthem X29 ). Both bikes are relatevely new and I am afraid they might be stolen since bike theft rate is high in my neighborhood. I am currently keeping them in my backyard chained to a fence. But the backyard is very easy to get into.  I have a renters insurance policy and I am going to call them with a couple of questions I got about the coverage.

But are there stand-alone bike insurance policies available on the market, that will cover my bike no matter where it is and no matter what happens to it?

I've got Insurance through Markel.   If you're a member of USA Cycling you get a slight discount too.
http://www.markelinsuresfun.com/bikesite/

I race so I got it in case a crash is bad enough to ruin my bike.
Found some reviews and info on another forum here:
http://forum.slowtwitch.com/cgi-bin/gfo … st=4457654

AlexG

Member

Registered: 2014-02-07

Posts: 5

Re: Are there any bicycle insurance companies?

Hello, I am a newbie but I believe it is the right section of the forum to post this question.
I wonder if anyone has insured his bike with a stand-alone policy? I have 2 bikes , a road bike ( Cervelo R3 ) and a mountain bike ( Giant Anthem X29 ). Both bikes are relatevely new and I am afraid they might be stolen since bike theft rate is high in my neighborhood. I am currently keeping them in my backyard chained to a fence. But the backyard is very easy to get into.  I have a renters insurance policy and I am going to call them with a couple of questions I got about the coverage.

But are there stand-alone bike insurance policies available on the market, that will cover my bike no matter where it is and no matter what happens to it?

I've got Insurance through Markel.   If you're a member of USA Cycling you get a slight discount too.
http://www.markelinsuresfun.com/bikesite/

I race so I got it in case a crash is bad enough to ruin my bike.
Found some reviews and info on another forum here:
http://forum.slowtwitch.com/cgi-bin/gfo … st=4457654

Thanks for the information. I made my research and looks like there are 3 popular insurance companies. Markel, Velosurance, Spoke Insurance. Interesting thing here is that Markel Corporation (the one you have insurance policy with) underwrites policies of Velosurance Bicycle Insurance, according to their wiki page
I submitted forms to get quote to all three with the same data and the cheapest one was Velosurance (weird but fact), then Markel then Spoke. So I bought the policy from Velosurance.

MichaelBluejay

Webmaster

From: Austin, TX

Registered: 2008-05-26

Posts: 1,466

Website

Re: Are there any bicycle insurance companies?

Bicycle insurance has been discussed here previously:  http://bicycleaustin.info/forum/viewtopic.php?id=370