Cycle protection for as low as 32 euros annually

Good bicycle insurance from 32 euros per year

The prices of the policies vary depending on the risk of theft in the area. A town in Saxony remains a stronghold for bicycle theft.

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If you don’t take out the right insurance, you jeopardize the benefits of your insurance company. Some companies even make specifications about the brand or minimum price of a lock to be used.
© Jens Kalaene/dpa

For cars, insurance premiums vary with the regional classes into which vehicles are grouped. But even with bicycle insurance, the place of residence can have an influence on the amount of the policy. The magazine Finanztest (issue 4/2023) points this out and recommends taking a look at the local risk of theft. After all, if many bikes are stolen in a region, insurance companies often protect themselves against the increased risk of theft. As a result, they charge comparatively high insurance premiums.

In such cases, Finanztest recommends looking for tariffs with nationwide prices, as these are usually cheaper. A particularly large number of bicycles are stolen in Leipzig, where the number of bicycle thefts per 100,000 inhabitants in 2021 was the highest nationwide at 1,365. Saxony has a total of 416 cases, which is also comparatively high. Conversely, if you live in places like Remscheid (45 cases) or countries like Saarland (74 cases) with a low risk of theft, you can often travel very cheaply with a regionally dependent tariff.

Good protection not too expensive

According to the financial test, good anti-theft protection is available from as little as 32 euros a year, and for a good 50 euros, e-bikes worth 2,500 euros can be sufficiently secured. In its current issue, the magazine compares 100 tariffs from 24 providers. Basically, a bicycle insurance protects against the financial consequences of theft. Some also cover additional risks such as accident, vandalism and wear and tear. But even the maximum new price for which wheels can be insured ranges from 5,000 to 25,000 euros.

You should also make sure that the minimum term is one year at the most, there is no maximum term, the bike is insured for at least 36 months at new value and the deductible does not exceed 50 euros. Other differences can be seen in the details: Are fixed parts such as e-bike batteries, but also accessories, luggage and helmets also insured? Are there specifications for the lock with which the bike must be secured? It is also best to balance this with your own needs.

If you are considering insuring your bike with a household contents policy, you should check up to what purchase price this is possible. Many providers only insured up to a maximum bicycle value of 5,000 euros, says Thomas Geisler from the Pressedienst Fahrrad industry network. (dpa/rnw)

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