Wednesday, October 12, 2011

Is my road bicycle covered under my homeowners insurance policy?

One of my clients recently was riding his road bike and had a collision with a deer. Is the bike covered under his homeowners policy? Coverage for personal property is covered for many perils but not his one? It is covered against fire, theft, vandalism, water, wind, hail, etc. but not a deer? In hind site it could have been covered. Homeowners insurance policies offer optional coverage riders called Schedule Personal Property (SPP). When personal property is scheduled the perils are broadened to include things like hitting a deer, crashing, damage during shipping, and others.