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Insuring Your Bicycles

By Brooke Winslow - August 24, 2020

It is entirely possible that your bicycles may be even more valuable than your car. Yet, it is common for bikes to be an oversight when reviewing your homeowners insurance coverage and therefore uninsured. More specifically, on many common homeowner's policies, personal property away from home is limited to 10% of the personal property limit on the homeowners policy. Arguably even more important, the homeowners deductible may be at or near the replacement cost of the bike and therefore result in little to no actual coverage. For improved coverage while away from home, bicycles should be specifically scheduled as valuable articles on the homeowners policy. This will cover the bikes from "mysterious disappearance" which is important because upwards of 1.5 million bikes are stolen in the United States every year.  Also, it is typically possible to have a significantly lower deductible for this coverage as compared to the master homeowners policy deductible. Reach out to your TriMountain Corporation representative to see if valuable articles coverage makes sense for your bikes.