2 ms·
People will do anything to try and counter bike theft instead of just getting insurance. It did take me one bike theft myself to learn that lesson though.
by asdff 4y ago
People will do anything to try and counter bike theft instead of just getting insurance. It did take me one bike theft myself to learn that lesson though.
- seanmcdirmid 4y agoIn high theft areas, insurance is jacked up because the risk is so high. If you are getting your bike stolen every 3 or 4 months, the insurance company has already adjusted your premium so that they aren't losing money. Insurance is great for rare unpredictable events. It is not cost-effective at all for common predictable events.
- asdff 4y agoI live in a county with almost 100k homeless people, and I pay another $1 a month on my renters insurance policy (itself around $12) to insure the bike with no deductable. It really is cheap if you use renters or homeowners insurance. I'm sure many of those "bike specific" insurance policies nickel and dime since the pool is probably a lot smaller.
- deleted 4y ago[deleted]
- Scoundreller 4y agoYour insurance keeps renewing at the same rate after 1 or more claims??? Can you identify the insurer so I can short their stock?
- seanmcdirmid 4y agoReading the comment, it seems like they are getting a bunch of other stuff covered, so the insurance company is still making a profit even if they are constantly getting reimbursed for stolen bikes?