Oh no, my bike is gone! All that was left was the cut lock this morning.
Oh the memories….
Why didn’t they take the crappy blue road bike instead (also?).
Well at least I learned a lot about Renter’s Insurance as a result of this. Here are my tips:
- You can’t file an insurance claim without your name and the items on a police report. The report is mostly a formality, at least with Santa Clara county police departments. You can do it online and immediately get a report “pending approval” with a tracking number.
- Your claim total is subject to depreciation! For instance, the actuary tables say a bike lasts ten years, so when your three-year old bike is stolen your claim amount is reduced 30%.
- However, if you can provide copies of receipts for repurchasing the claimed items, the depreciation is no longer applied to your claim amount.
- You don’t need receipts for the claimed items, but you do need the best possible estimates of purchase price and product name. Links to items on online stores work great.