Bicycle insurance: for whom is theft aid for e-bikes worthwhile?

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An e-bike usually costs a lot of money, pedelecs for 2,000 or 3,000 euros are not even in the most expensive category.

So it makes sense to insure e-bikes and other expensive bikes well.

But how?

Does it have to be special bike insurance?

Or is it enough to have home contents insurance that also promises replacement in the event of theft?

The answer is: it depends.

The scope of benefits and conditions of the insurers can vary greatly.

Whether a household contents policy or a special insurance is the right choice cannot be answered across the board, says Annegret Jende from Stiftung Warentest.

If the new price of the two-wheeler is high, you only get a limited amount of the household contents policy.

Compensation is usually made at the new value of the bike, but how much money the policyholder actually receives also depends on the sum insured: The providers often cap individual compensation at one or two percent of the sum insured.

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But some also offer ten percent, says Kathrin Jarosch from the Association of the German Insurance Industry (GDV).

For example, if the household items are insured for 50,000 euros, the insured person will receive a reimbursement of between a maximum of 500 and 5000 euros if the bicycle is stolen.

Elke Weidenbach, insurance expert at the North Rhine-Westphalia consumer center, recommends keeping all invoices and documents safe and also taking photos of the bike.

Where was the bike stolen?

Another important question is where the bike was stolen.

According to Jarosch, all bicycles belonging to the household contents are also insured via the simple household contents insurance, as are pedelecs that support up to 25 km / h and do not need an insurance number.

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But replacements are only available after theft, i.e. if the bike is stolen from locked rooms, which are often noted individually on the insurance policy: apartment, garage or bicycle storage room, for example.

Those who need more protection can think of two alternatives.

On the one hand, most insurers offer a so-called bicycle clause that can be added to the household contents policy, which extends the scope of benefits.

On the other hand, there are more and more providers of special insurance, which are sometimes also marketed as fully comprehensive bicycle insurance.

Bicycle thefts that are too frequent can be problematic

Above all, the bicycle clause solves the problem of space, because most bicycles are not stolen from locked cellars but on the open street - this is also what the bicycle clause stands for.

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“The prerequisite is that the bike has been secured, for example connected to a lamp post,” says Weidenbach.

However, if the insurance is used too often, problems can arise.

According to Annegret Jende, it is conceivable that the insurance company could at least terminate the customer's bicycle clause - for example, if it had to replace several high-priced bicycles within a short period of time.

According to GDV, there were around 26 million household insurance contracts in Germany in 2019.

47 percent of these also contained the bicycle clause.

With newer contracts there is insurance coverage around the clock.

With older existing contracts, there is sometimes a time window from 10 p.m. to 6 a.m. during which the theft is not covered - unless the bike was in use, says Weidenbach.

Policyholders must also inquire about or negotiate how high the purchase price of the bike can be.

And the household contents policy - with or without a bicycle clause - does not automatically cover damage caused by vandalism.

"It differs from contract to contract," says GDV spokeswoman Jarosch.

Some bicycle insurances even replace wear and tear

Special bicycle insurance policies are taken out individually for each bike, but according to the experts they also cover other insurance claims.

In addition to vandalism, this can also include damage caused by falls, accidents and electronic damage.

Repair costs are often also covered, sometimes even as a result of wear and tear.

The amount of the policy depends on the purchase price of the bike, which some companies cover, for example at 5000 or 10,000 euros.

It is particularly interesting for e-bike owners if the theft of parts is also insured.

The expensive batteries, some of which are replaced when they wear out or after a short circuit, are popular stolen goods.

However, some insurance companies require that the battery be removed when parking the e-bike, says consumer advocate Weidenbach.

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The scope of services often also includes natural hazards, so the insurers also take action after damage caused by fire, lightning, storm, hail or an explosion.

Every policyholder has to decide for himself whether that makes sense.

Full protection requires particularly secure locks

Those providers of bicycle insurance who sometimes require the use of particularly secure bicycle locks for full protection include, for example, Cosmos Direct, Bayerische, Ergo Direkt, Pergande & Pöthe, Ammerländer Versicherung, Enra or Wertgarantie AG.

But the extended scope of services makes such insurance generally expensive.

“Such an insurance contract is therefore only worthwhile for expensive bicycles,” says Weidenbach.

The first bicycle manufacturers such as Riese and Müller or Ampler are also offering buyers insurance benefits.

Basically, you should weigh up whether a special bicycle insurance is worth several hundred euros a year, depending on the value of the bike - because it can get that expensive.

On the other hand, letters of protection are often included in the scope of services, which promise 24-hour breakdown assistance, repatriation transport or rental bikes in the event of a breakdown.

Or luggage and accessories such as a child seat or bicycle trailer are also insured.

Here, too, customers should check carefully whether they need all of this and compare several offers, advises Weidenbach.

It needs to be clarified, for example, whether damage will be covered in full, a deductible is required or whether bicycles purchased second-hand can also be insured.

The amount of the policy can also sometimes be reduced: Individual insurers give discounts if the bike is coded or can be located using GPS.

Some modern bikes have chips for this on board.

Trodden and torn: some bicycle insurances also cover damage caused by vandalism

Source: dpa-tmn