The quick and easy answer is yes, under general homeowner's policy forms and contracts, a bike would be covered in the event of someone stealing it.
However, a home deductible generally exceeds the cost of most bikes.
If the insured has a tri-bike, vintage bike, or mountain bike those can often be worth thousands of dollars.
To make sure there is proper coverage and to guarantee an exact payout, our advising team suggests scheduling the bike on an Agreed Value basis.
This allows complete transparency between the client and the insurance company on exactly what and how much the bike is being insured for.
Expensive bikes and equipment should be secured in a safe place to avoid someone stealing it. But on the off chance, the bike is stolen, talk to an insurance advisor on the best course of action to take.
Reposted from Google's Question/Answers forum.
More questions? Talk to Robert W. about protecting your valuable assets with homeowners or rental insurance.
April 05, 2018
by Robert Weberg