Protect Your Bike Against Theft

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The Christensen Law Firm discusses how to insure your bicycle against theft

Christensen Law Firm

The needed insurance is an extension of your homeowner's or renter's insurance, but is something more commonly referred to as Special Personal Property Insurance

The Christensen Law Firm discusses how to insure your bicycle against theft

The recent media attention surrounding bike theft has led many to ask, “if my bike is stolen am I just out the money?”

Recent reports have shown that cycling is on the rise in Utah and during the season between Black Friday and Christmas many bicycles are purchased. Thieves are as aware of this as anyone.

So, the question to answer is: Can I do anything to protect my bicycle from theft? Does bicycle insurance exist? Many people seem to know that homeowner’s or renter’s insurance should sufficiently cover most bikes, and most goods for that matter, in the case of a house being broken in to and goods taken. But what should a person do to insure a bike from being stolen outside of the home? Or if the bike gets stolen from off the top of the car rack and the car is not parked in the garage? Or if your stolen bike is worth an amount more than what the standard homeowner’s insurance policy is liable to cover? In all of these cases, you need something more to both insure your bicycle and ensure your position against your insurance company.

The needed insurance is an extension of homeowner's or renter's insurance, but is something more commonly referred to as Special Personal Property Insurance (there may be different names for different insurance companies, but the idea is the same). Many of the lower value items in your home will be covered under standard homeowner’s or renter’s insurance, but for things of higher value, such as a $10,000 bicycle, an extension is necessary to protect yourself in case of the theft of said item.

With this kind of insurance, each piece of property you would like to insure must be itemized and accompany the piece of property with its current value. The value is determined by either a proof-of-purchase or an appraisal. Extending your policy and giving the necessary information to the insurance company will insure your piece of property against theft whether the item is stolen inside or outside of the home. Only by doing so can you ensure that the value of a bike taken from outside a local grocery store or from off a bike rack will be returned to you in time.

With numerous high-priced items in your home, this process may seem somewhat cumbersome and time-consuming. In truth, however, you wouldn't consider not insuring your vehicle, and some of the items in your home may almost equal it’s value. Following these steps will provide the peace of mind you are looking, especially during the holiday season. Protect your property by taking a preemptive strike against potential theft.

The Christensen Law Firm also known as the Utah Bicycle Lawyers is a Utah based law firm. The Firm has published several books covering topics from car accidents to wrongful death law and bicycle accidents. The attorneys of the firm have been recognized by local media (including KSL, ABC, Fox and KUTV) as legal experts and are frequently asked to offer opinions on news stories and events. Managing partner, Russ Hymas, is an avid cyclist and eager to get rid of bike theft in the state of Utah.

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Kenneth Christensen
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