Does Renters Insurance Cover Stolen Bike?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   If your personal property includes a bicycle, it will be covered under a renter’s policy.  If the bicycle is stolen from your unit it will be covered to the property limit of the policy after satisfying the deductible.  If you have a $400 bicycle and it is stolen, and if your policy has a $250 deductible, you can expect a settlement in the range of $150.  If the bicycle is stolen from the bicycle rack in front of the Biology building then the amount of coverage is reduced to about ten per cent of the personal property limit of the policy.  Subject to that reduced limit the claim would be adjusted in the same manner.

   Answered on May 12, 2014

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