When you’re a renter, your landlord’s insurance policy probably covers bicycle damage. But if you’re an automobile owner, your insurance company may not cover the cost of repairing or replacing your bike because it’s considered an auto expense. So which is right for you?
What is Bicycle Damage?
Bicycle damage can be classified as either physical or economic. Physical damage is damage to the bicycle that cannot be repaired. Economic damage is damage to the bicycle that can be repaired but costs more than the value of the bicycle. Physical damage is typically covered by automobile insurance, while economic damage is typically not.
Bicycles are often considered personal property and are not covered under most renters or automobile insurance policies. However, bicycles can often fall within the definition of “automobile” under some policies and be covered accordingly. The key factor to consider is whether the bicycle is used primarily for transportation or recreation. If it is primarily for recreation, then it may not be covered under your policy.
If you are unsure whether your policy covers bicycles, please consult with your insurance representative or agent.
Types of Bicycle Damage
Cycling is a great way to stay fit and healthy, but it can also be dangerous. If you are ever in an accident while cycling, be sure to know the types of bicycle damage that could go under your renters or automobile insurance.
Bicycle damage can generally fall into one of three categories: property damage, personal injury, and death. Bicycle property damage typically includes things like scratches or dents to the bike itself. Personal injury includes things like broken bones or stitches. Death may occur if someone is hit by a cyclist while they are stopped at a red light or if they are riding on the wrong side of the road.
Generally speaking, bicycle damage will be covered under your renters or automobile insurance if it results from an accident. However, there are a few exceptions. For example, bicycle damage that occurs because you were careless or reckless may not be covered under your policy. In addition, some types of property damage, such as theft of a bike, may not be covered at all.
If you have any questions about whether your bicycle damage is covered under your renters or automobile insurance, don’t hesitate to speak with your insurance agent or insurer.
How Much Does Bicycle Damage Go Under Renters Insurance?
Bicycles are often considered vehicles, and as such, they are covered under renters insurance. In addition, many insurers will also cover bicycles if the cyclist is injured while using the vehicle. Automobile insurance, on the other hand, typically only covers damage to the car itself.
How Much Does Bicycle Damage Go Under Automobile Insurance?
Bicycle damage is typically not covered under automobile insurance policies. Bicycle accidents are typically considered “uninsured motorist” accidents, and accordingly the damages awarded will only be based on what the at-fault driver’s personal insurance policy would cover. In some cases, bicycle damage may be covered under a homeowners or renters insurance policy.
Conclusion
I recently moved out of my childhood home and into a house with a shared driveway. Naturally, I was excited to get my bicycle out of the garage and start commuting around town! However, after reading some online articles on bicycle insurance, I started to have some doubts about whether or not my bike would be covered under renters’ or automobile insurance. In this article, I will try to answer the question as best as possible. Hopefully by the end you will know for sure if your bike is covered under renters’ or automobile insurance!