Since State Farm does not offer standalone bicycle insurance, you can leverage its homeowners’ insurance to cover your bikes and other personal properties. The cost of your State Farm insurance will vary depending on factors such as age, gender, location, credit score, and intended use. According to State Farm, your homeowner’s insurance will cover the cost of the bike after you pay your deductible.
When you think of bicycle insurance, you might also want to consider State Farm’s personal articles insurance policy. With this insurance, you will have to pay a monthly premium to cover the cost of your bike if it is stolen or damaged.
Howbeit, most often, bicycle owners opt for State Farm’s homeowner’s insurance to protect their bicycles. According to State Farm, for a $4000 bike with no deductible, your premium would cost $240 per year and $20 per month.
Have in mind that it would only cover the cost of the bike. Also, if you get involved in an auto-related accident, your car insurance would kick in to help. Also note that State Farm sells protection for sidecars and protective gear like helmets, and add-on coverage for emergency roadside services and trip interruption expenses which can be included with any policy.
Founded in 1922, State Farm is renowned for its auto insurance policies, which are sold through local agents. Noted as one of the biggest insurers in the United States, State Farm boasts a lot of capital and is rated A++ for its financial strength by AM Best.
They are also noted as one of the top-rated providers when seeking protection for your bicycle. Although State Farm’s coverage offerings may not be as extensive as some other providers, you can get your bike fully insured, and State Farm offers high policy limits, which is crucial if you have an especially expensive bicycle.
Is State Farm Good or Bad for Bicycle Insurance?
According to reviews, State Farm is good for bicycle-related insurance coverage. Have it in mind that most customers with State Farm appreciate their local agents which makes all processes personal and more convenient. Note that one of the many benefits of a State Farm policy is that you have access to a dedicated State Farm.
Although State Farm boasts of an A+ rating from the Better Business Bureau (BBB); this insurer is expressly not accredited in the United States. According to experts, it can be quite expensive and tasking to renew BBB accreditation every year; owing to that, a good number of Insurance companies prefer to forego this distinction.
As a national insurer, State Farm boasts of a very massive customer base. According to its website, this insurance company services over 84 million policies and accounts throughout the U.S., and while there have been many negative reviews or complaints against the company, it is believed to be low in volume, especially when compared to other insurers in the market. Customers who do complain are more or less not satisfied with their slow claims process.
How Do You Apply for State Farm Bicycle Insurance
Just as it was noted above, State Farm does not offer standalone bicycle insurance, but you can leverage their homeowners’ insurance or the personal articles policy to protect your bicycle and all related accessories. However, note that getting a State Farm insurance quote is not as simple as it is with some providers as it requires going through a local agent.
Nonetheless, State Farm surely provides a means or a tool that may help you anticipate coverage needs and how much you can save based on the type and model of your bicycle. State Farm is a well-rounded insurance company that makes available comprehensive coverage, competitive pricing, and high-quality customer service.
Howbeit, it is not convenient to get a State Farm bicycle insurance quote as it is with other providers, therefore comparing costs can be a little bit challenging. Although State Farm barely offers specific quotes, have it in mind that its Insurance Rating tool gives riders insight into how expensive a particular bike may be to insure.
Note that to request a personalized quote from State Farm, you will have to reach out to a State Farm local agent or call 844-242-1899.
What Services Do They Offer Bicycle Owners?
Although State Farm’s coverage offerings are not as extensive as some other providers, you can get your bicycle fully insured, especially since this insurance company offers high homeowners policy limits, which is vital if you have or own an expensive bicycle.
Most often, insurance purchased by bicycle owners from State Farm covers bodily injuries coupled with property damage as a result of theft. This coverage is also known to cover emergency expenses and other numerous affordable options.
In addition, you will get policies that cover bodily injury to any other person if the damage was caused by you. Most importantly, it will cover damages to the bicycle if there is an accident. If your bicycle is in storage for the winter, it will also cover theft, vandalism, fire, and other forms of loss.
If you have attached other components or upgrades, those are also protected under certain policy endorsements. They also cover emergency equipment expenses, damage to the protective gears, interruption to your trip expenses, etc. The policy you choose to protect your bicycle is as individualized as you are.
Bicycle insurance is not really required by law just like car insurance; nevertheless, you may want to consider purchasing a policy. Whether you are a casual rider or a professional cyclist, if your bikes are expensive, or if you live in a high theft area, you might want to understand the sort of policies you need.
If you value a personalized experience through a local agent, building insurance policies with the same company, and highly rated customer service, then you should consider working with State Farm.