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What’s the going rate for insuring a $5,000 bike, per year? My current insurer has just quoted $375.
Also, any recommendation for a quote?
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I think one has to pay 5% of value for worldwide (60 days overseas) insurance for your items over $5k on mine. Erm... I think. This isn't just for bikes of course and covers all items.
I've often wondered what would happen if something were to go wrong with bikes out of the house. Replacement value might be over the limit, but thinking about it - is just a collection of parts I bought separately that are all under the $5k limit so technically don't actually need this.
It's akin to how one would claim for their entire travel wardrobe if someone were to loose a suitcase isn't it? All items are bundled in the loss, but the bundle is made up of many lower price items.
Any advice?
But I put an extra rider on the insurance that covers the bikes I showed them the recipt of purchase to set the price
One thing to note is under a normal insurance policy sports equipment is not covered if it's not on your property, ie on/in your car, in transit, out front the coffee shop after a ride ect ect ect
Look up Velosure or Cycle cover
My $9000 bike is covered for 44.77 month and im even covered during a race or theft and im even covered right now whilst im in Germany. i think they are great and have been very friendly in emails and on the phone and even at a race i have spoken to Theo Grobler( he races too!). These guys are into bikes and they understand a cyclists needs.
I spoke to the guys at Velosure about... erm... insurance and explained their name came up online a lot.
The guy there gave me a referral code to spread about... if anyone does insure with them, if you quote this code it would be nice: 0992