Should I insure an expensive bicycle?

Question

I have a $2K and a $3K bicycle. Do people insure expensive bikes?

Answer 1

Heck yes! By all means. If you have auto coverage, the dual policy will reduce your rates as well.

Answer 2

Unless you want to pay another $2-3 grand for another Lightspeed, you'd better. Should be under your homeowner's policy.

Answer 3

I would recommend it. Mine is covered under my renter's insurance policy, but has a high deductible. I should look into getting a separate policy for it.

Answer 4

Well the obvious answer is yes. its an item. it can be stolen. it has value. i say insure it. put it this way. if it was a 3k tv would you add it to your home and contents insurance?

Answer 5

my home-owners policy covers my bikes.

Answer 6

Yes.  The increased premium will be minimal considering the value of the bike.  Take a picture of the bike, including a close-up of the serial number.