Mastodawn

Richard Masoner

@reed_hampton ^ @eBikeChick

Kathy J

@reed_hampton my insurance covered both when my $1200 battery fell out during transport (80%, I take it out now) and picked up my health insurance deductible on a $70k ER bill after a crash. Get the insurance.

@eBikeChick Woah that's crazy! Glad you're all right!

Just to clarify insurance covered 80% of the battery replacement cost? Also is "during transport" like the battery out of the bike on a plane, or while riding the bike?

And the deductible coverage would be nice that's for sure 🤔

Kathy J

@reed_hampton The battery fell out while on my bike rack somewhere between Los Gatos and Santa Cruz on Highway 17. I always thought someone would find it, think it looked very suspicious, and call the cops who would then send the bomb disposal robot to blow it up and I’d see it on the local news. 😂 And yes, the ER bill was a shocker. Between the basic ER and trauma response fees, just the cost of admission was almost $30k before they did a thing.

Kathy J

@reed_hampton Insurance did pay for 80% of the replacement cost of the battery and a few thousand dollars of medical bills.

tobias_bikes Nov 24, 2022

@reed_hampton can you afford to replace it without insurance is the question.

@tobias_bikes I can afford to replace it sure, but from a financial efficiency perspective! If the likelihood that the bike will be damaged or stolen in 8.5 years is high enough than the insurance is worth it!

Joe Steinbring

@reed_hampton When I bought my Specialized Vado last year, I was terrified that somebody was going to steal it, so I had the insurance guy add "Sports Equipment" coverage to the insurance plan, I bought an excessive chain, and bought a 4yr insurance plan from the chain manufacturer (that only covers the first $3k of the replacement value). If nothing else, it helps with the worry.

Andrew Davidson Nov 24, 2022

@reed_hampton is that insurance for present value or replacement cost?

I have a converted #ebike and it hast been worth it for me to purchase insurance, but it is not my primary means of transportation and I do not have to leave it for long stretches unattended. If I had to leave mine in the city for long stretches, I might have different opinions.

@andrew It looks like it is a "Present Value" Insurance:

"Each individual claim is different and evaluated as such. The coverage purchased depends on the value of the bike, age of bicycle, accessories or add-on's you added to your bike, and the damages sustained."

Which leaves a lot up in the air depending on how they value it...

Shawn W Nov 24, 2022

@reed_hampton I signed up with BikeInsure partially because they cover accessories

@shawn_dubs It seems like a lot of them do as long as you keep all your receipts 😬

Shawn W Nov 24, 2022

@reed_hampton I probably need to look at it again, but it was very easy to sign up. I did so after hearing the CEO on a podcast. The points he made won me over.

Jessi

@reed_hampton
I'm just not sure it will end up paying out what you want. Best to be cautious and put the premium in a savings account.

Jessi

@reed_hampton
After reading Kathy's response, I take it back. I wasn't thinking about crashes at all.

Mark Sussman

@reed_hampton The much, much bigger issue is if you get hurt in a collision. If you don't have auto insurance, you need non-owner car insurance, which will cover a lot more than bike insurance for medical and other expenses (what if it's a hit and run??)

Plus, if your bike is stolen from your home (inside or out) your homeowners or renters insurance should cover.

As $1100 for the bike, insuring your body is way more important.

Sara Bliss Nov 24, 2022

@reed_hampton I got the insurance because I want to ride my bike places without second-guessing my decision due to fears about theft

John Shirley Nov 24, 2022

@reed_hampton I've got a good, not inexpensive Rad bike one. My method to dealt with theft danger is to just not leave it alone anywhere.