If cycling is a hobby or your main form of exercise, you know that bicycles can be pretty expensive. These “toys” can cost anywhere from $100 or more at Wal-mart to a more high end range of $3,000- $5,000 for those serious cyclists out there. But did you know that you can insure your bike? I didn’t! After speaking with one of our agents about it, apparently a person can insure their wheels under their Oklahoma Homeowners policy. Same way a person would insure their high valued art, jewelry, or guns, they would insure their bicycle. You just have it listed specifically on your homeowner’s policy! Wow, who knew it would be that easy.
According to the Federal Bureau of Investigation, in 2009 a little over 183,000 bicycles were stolen. That’s a high number. And what if you have a fast bike for racing or triathlons? That bike and the wheels cost more than our first car cost some of us. You want to be sure to insure your bicycle in case something terrible did happen. For those of you that might own an expensive bike, talk to your insurance agent and have it listed on your policy. However, if your bike isn’t that expensive, just know that it is covered under your home insurance in Oklahoma under the personal property portion. Is your bicycle properly covered?