Now that it’s spring, many people want to get back on their bikes regularly. It’s a good time to think about the right insurance cover.
Spring is here. So hurry down to the basement, get your bike in shape and – oh dear, the bike is gone! What now? If you lose something like this due to burglary, your home contents insurance can cover the damage, according to the Association of Insured Persons (BdV).
This would also cover damage to the bike caused by fire, storm, hail or tap water. The prerequisite is that the damage occurs in insured rooms. According to the BdV, it is burglary if the bike is stolen from the apartment or a locked cellar.
However, this is a rare occurrence, according to the BdV. It is more likely that the bike will be stolen while you are out and about. An additional module for bike theft can be integrated into your home contents insurance.
It is important to ensure that the insurance cover does not have a so-called night-time clause and also covers thefts between 10 p.m. and 6 a.m. if the bike is in use during these times. The bike is considered “in use” if you lock it up and want to continue riding that same night.
Accessories such as a battery or a trailer should also be insured. In many cases, the tariff specifies a lockable amount. For example, if you are insured for a sum of 100,000 euros and bicycle theft is capped at ten percent of the insured sum, you will receive a maximum of 10,000 euros. However, the percentages and limits of the sums vary depending on the insurer.
Keyword electric bikes: Only normal Pedelecs – colloquially known as e-bikes – can be covered by household contents insurance. Only those that support pedaling up to a maximum of 25 km/h and have a maximum output of 250 watts are considered normal bikes.
Anyone who has a high-value bicycle or e-bike can consider taking out special bicycle insurance. The amount of compensation is not based on the amount insured under the policy, as is the case with home contents insurance, but on the value of the insured bike, explains the German Insurance Association (GDV) on its website.
In addition, such a policy can also apply in the event of damage or theft of individual parts, as well as mix-ups, vandalism, explosions or accidents, according to the GDV.
Important: You should keep your purchase receipts in a safe place in case of theft and report the theft to the relevant police station.
The BdV advises everyone to take out a private liability insurance policy. This is because it can cover damage and subsequent costs that you cause to others – for example in connection with cycling. Anyone who does not have this protection may have to pay for costs incurred by third parties, such as for dental prostheses or even for a lifelong pension payment due to disability.
Important: More powerful S-Pedelecs, for example, are considered small motorcycles and require an insurance license plate – they are not covered by private liability insurance.
