๐Ross Derry, 88, of Oshawa, Ontario, had his $4,000 e-bike stolen from his apartment garage. Despite having tenant insurance, he discovered his policy only covered $1,000 of the loss. Derry, an avid cyclist, used the e-bike to assist with hills. Many insurance policies, like Derry's, have coverage limits on items like bikes, collectibles, and jewelry unless additional premiums, called riders, are paid. Anne Marie Thomas from the Insurance Bureau of Canada advises checking policies for such limits. Derry now questions whether to buy another e-bike, given the theft risk and limited insurance coverage.โ
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