1. 7647 POINTS
    Mark Bartlett CLCS
    Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
    A bicycle is personal property so as long as you purchased personal property coverage as part of your renters insurance policy there would be coverage in the event of a theft or destroyed in a fire or other covered peril. There is no coverage if you damage (wreck) the bike. Also keep in mind your renters insurance deductible will apply. Talk to your local agent for further details.
    Answered on May 4, 2013
  2. 1615 POINTS
    Ryan Andrew
    President, The Andrew Agency, Richmond, VA
    Renters insurance is designed to cover sudden and accidental losses and will cover your personal property "any where in the world". If your belongings are stolen or damaged away from your residence most policies cover up to 10%. For example, if you have a Renters policy with the following limits:

    Personal Property = $20,000
    Liability = $300,000
    Medical = $1,000
    Deductible = $500

    If your bike is stolen away from your apartment you would have coverage up to 10% or $2,000. Keep in mind your deductible. In the example above you would receive a check for $700 - $500 = $200.
    Answered on May 23, 2013
  3. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>