If you’re renting a home or an apartment, your renters insurance policy likely covers bicycle damage. But what about if you’re the owner of a car and something happens to your bicycle while you’re driving?
Bicycle Damage and Renters Insurance
Bicycles are one form of transportation that many people enjoy using. However, bicycles can also be very dangerous if not used responsibly. If a bicycle is damaged while in use, it may be covered under renters insurance or automobile insurance.
Renters insurance covers physical damage to belongings within a rental unit, while automobile insurance typically covers accidents involving vehicles. It is important to consult with a specialist to determine which type of coverage is best for your situation.
Bicycle Damage and Automobile Insurance
Bicycling is a great way to get around town, but it can also be dangerous. If you’re in a bike accident and your bike is damaged, you may be able to claim under your renters or automobile insurance policies. Here’s what you need to know about each type of coverage:
If you’re a renter, your landlord may have insurance that covers your bike if it gets damaged while you’re not using it. Make sure to ask before the accident happens – some landlords have policies that only cover bikes that are in use.
If you have auto insurance, you may be able to claim for bicycle damage if it occurs while your vehicle is in use. Your policy should cover bicycles used for transportation, whether they’re locked up or not. Make sure to read your policy carefully to see if it covers cycling at all.
Bicycle damage can go under renters or automobile insurance, depending on the situation. For example, if your bicycle is stolen and then damaged while it’s locked up outside of your home, the bicycle damage may be considered vandalism and not covered by renters or automobile insurance. On the other hand, if you have your bicycle securely stored inside of your home and it gets damaged while you’re riding it, renters or automobile insurance likely would cover the damage. So as long as you are following all applicable safety guidelines when riding your bike (e.g., wearing a helmet), you should be covered regardless of whether you have rental property coverage or not.