When you’re riding your bicycle, the world seems simpler. But bicycle coverage outside of the home can sometimes get a little complicated. Is your bike covered by your auto policy? Is it covered under your renter’s policy? It may depend on the circumstances.
Your Bike is Damaged While Attached to Your Car: This should be covered under the personal property provision of your homeowner’s or renter’s policy.
Your Bike is Damaged by Another Car While Attached to Your Car: The other car will be responsible for the full value of your bicycle. If they are uninsured/flee the scene, your homeowner’s or renter’s policy will cover the damage.
Another Person’s Bicycle is Damaged While Attached to Your Car: Your Car’s liability portion will pay the actual cash value of the bicycle to the person for their bike.
Bicycle Stolen While Attached to Your Car: You’ll need to be sure to file a police report, but this will be covered by either your renters or homeowner’s policy.
Keep in mind, that your policy will likely have a deductible. While many bicycles can exceed the amount of the deductible, you may still be responsible for a portion of the payout value.
For advice call AmeriAgency at 615-209-9362.