Berlin
Whether trekking bike or e-bike – if you want to insure your bike against theft, you can do so with household insurance or your own bike insurance. The magazine Finanztest examined 62 tariffs from 24 providers. All tariffs pay for theft, burglary and robbery. The offers cost at least 32 euros per year for an electric bike that costs 2500 euros, with more comprehensive protection from 65 euros.
Three models in the test
Insurance companies should indicate prices and services for three different models: a trekking bike for 1500 euros, an e-city bike for 2500 euros and an e-cargo bike for 3500 euros. Since the prices in some tariffs differ depending on the region, Finanztest asked them for Leipzig and Remscheid. According to police crime statistics 2019, Leipzig is the city with the most bicycle thefts per 100,000 inhabitants (1,700), Remscheid the city with the fewest (62). The statistics for Oldenburg are 902.
Theft and robbery
In order for the insurance to replace a bike parked on the roadside if thieves steal it, it usually has to be connected to a “stationary object” such as a lamp post. In some cases, however, insurance companies also pay if the lock only prevents them from driving away. Insurers also set guidelines for the lock itself. Often it has to have a minimum value, usually 50 euros. Sometimes only models from certain manufacturers are allowed. Here it is worthwhile to read the conditions carefully.
Insured items
In addition to the theft of the entire bike, all tariffs in the test cover the theft of individual parts such as the saddle or front wheel if they are firmly attached to the vehicle. In e-bike tariffs, this also includes the battery. The provider Qover-me only insures parts up to 100 euros and restricts it: “Any technical changes to this bike will result in the termination / nullity of this contract.” Finanztest therefore does not recommend this tariff.
Risks secured
In addition to theft, special bicycle insurances usually cover other risks. Vandalism, i.e. willful destruction, is insured in 52 tariffs. The providers also pay for damage caused by accidents or falls in three quarters of the contracts. For people who ride an e-bike, protecting the electronics from moisture or overvoltage can be useful.
The fact that the insurance cover is valid in 46 cases worldwide and often indefinitely can reassure cyclists. Anyone who travels a lot by bike or does not want to accept long restrictions in everyday life can take out a tariff with a cover letter. In the event of theft or breakdown, the insurer will then take care of the transport, send mechanics on site for repairs or pay for a rental bike.
Don’t wait too long
Insurance can be taken out directly from the dealer, through brokers or on the Internet. Usually a separate contract is required for each bike. In 13 tariffs, the bike can be of any age when the contract is signed. In the others, new buyers have to make a decision within three months to four years of purchase. Bikes bought second-hand can also be insured in around half of the tariffs.
The contracts often have a term of one year, sometimes longer. As a rule, they are automatically extended if the insured does not cancel in good time. Attention: Sometimes there is a maximum contract term of three or five years. If you don’t want to be left without protection, you should find a replacement early on.
Spare bike or money
If the bike is stolen or if it is a total loss, the insurer will pay for a new, equivalent spare bike or pay money. Usually they replace the new value. In some tariffs, however, customers are only reimbursed for the current value. Few providers require a deductible of up to 250 euros. An insurer may terminate the contract after each claim. The provider Qover-me even reserves the right to do this in the event that it does not assume the damage at all.
