Now that the weather is finally changing here in Arvada, it’s time to take the bicycles out of the garage and into the mountains.

One of the questions we frequently receive is properly insuring a bicycle if it is lost, damaged, or destroyed. So we thought it would be good to spend a few paragraphs explaining the best way to cover your bicycle with insurance.

Under the contents limit, most bicycles are covered as property on your homeowner’s policy. The policy will provide coverage whether the bike is stolen or destroyed on your property, vehicle, or other premises. One of the things to pay close attention to, though, is the limit of insurance you have for the bike.   Some policies will only provide a sublimit of insurance of $1,000 to $1,500, which might not be adequate for an expensive racing bike that may have cost you thousands of dollars. If you have an expensive, customized, or unique, we recommend speaking with your agent about purchasing some additional coverage for the bike.

What about if you hit somebody or destroy property while riding your bike? Will insurance pick that up as well?   Typically, your homeowner’s policy will also protect you from any damage or injuries you cause while riding your bike up to the limits of liability on your policy.   Every insurance policy is different, though, so you must speak to your agent about how your specific policy would respond in the event of a bicycle-related claim.