It can be tough to know what type of insurance you need when renting a property or driving a car. In this article, we’ll take a look at the different types of insurance and see if they cover bicycle damage.
The Basics of Bicycle Damage
When it comes to bicycle damage, renters or automobile insurance?
Both homeowners and renters insurance policies typically cover bicycle damage. However, there are a few things to keep in mind when it comes to bicycle damage and your coverage.
Homeowners insurance policies typically cover bicycles as personal property, meaning that the policy would pay out for damages done to the bike as long as it was your primary means of transportation. Renters, on the other hand, may not have this coverage since bicycles are not generally considered an essential part of their dwelling. If you rent and your landlord does not have bicycle insurance, then you may be able to purchase coverage through your homeowner’s policy.
When it comes to automobile insurance, most companies will cover bicycles as part of their liability coverage. This means that if someone is injured while riding a bike on the street, the car insurer will be responsible for paying out on their claim. Keep in mind that some companies may have higher limits for bicycle liability than others, so it’s important to check with your insurer before taking out a policy.
What Renters Should Know About Bicycle Damage
Renting a home can present some unique challenges, one of which is bicycle damage. While bicycle accidents are fairly common, they often go unreported, as the victim may not feel like reporting the issue.
Below are some tips for renters and those who own properties that rent:
– Bicycle accidents are covered under homeowners’ insurance policies. If you’re renting and your bike is damaged in an accident, make sure to speak to your insurance company about coverage.
– If you’re a renter and your bike is damaged in an accident, you may be able to file a claim with your rental agency or landlord. Make sure to keep all documentation related to the accident, as your case may depend on it.
– If you’re not a renter and your bike is damaged in an accident, you may be able to file a claim with the at-fault driver’s insurance company. Make sure to get written proof of the accident, including photos if possible.
Automobile Insurance for Bicycle Damage
If you’re a renter and your bicycle is damaged by someone else, the bicycle damage may not be covered under your renters insurance. Your automobile insurance may cover the bicycle damage if you were driving the vehicle when it was damaged.
If you own an automobile and you’re involved in a bicycle accident, your automobile insurance will likely cover the damage to your bicycle.
Conclusion
Bicycle damage is typically considered to be under the automobile insurance policy, as bicycle accidents are typically classified as “non-commercial” events. This means that your bicycle is not normally used for transportation and does not have auxiliary equipment, such as a horn or lights, attached. If you’re in an accident where your bike is damaged, it’s important to contact your automobile insurance company to see if they will cover the costs of repairing or replacing your bike.