Text: Kerstin Börß
The pannier briefly shouldered, the helmet already on my head - with quick steps I head out of the front door in the morning towards my bike. It had been late the night before and so there was simply no energy left to heave the bike down the steep stairs into the cellar. His gaze falls on the lamppost. This is where the bike should actually be. His eyes now wander tensely to the other lampposts on the street. Was it someone else after all? Now the pulse is rising. We quickly walk the entire street until the search ends again at the lamppost right outside the front door. The remains of the lock lying on the ground bring certainty: the bike is gone.
Bicycle insurance: Not just when it's too late
"Why didn't I just take it to the cellar yesterday?" Questions like these immediately pop into your head. And a central thought also revolves around the topic of insurance: "If only I had taken care of it...!" It's been on the to-do list for a long time. Somewhere between the resolutions to do something for fitness and core stability away from cycling and to really not wait until the summer for the annual inspection this year. A look at the crime statistics doesn't really offer any consolation, but it does bring the realisation that even if you feel very alone with a helmet on your head in front of an orphaned lamppost, you are by no means alone.
In 2022, for example, over 250,000 bikes were stolen - and this only applies to cases reported to the police. The detection rate is low. In addition, more expensive bikes are being stolen. The topic of insurance should therefore move up the agenda as quickly as possible - and preferably before anything has happened. The good thing is that there is now a huge range of insurance options for bicycles. The downside: It can also be overwhelming.
Household contents insurance as a basis
That's why it's best to start at the very beginning: What insurance do I already have? Because even one that at first glance seems to have nothing to do with the bike can turn out to be a help. The first thing that comes to mind is household contents insurance. "When it comes to the question of whether the bike is adequately protected by household contents insurance, there are two main points to consider: the value of the bike and the individual need for cover. This is because household contents insurance covers the bicycle at home against burglary from a locked room," says Julia Alice Böhne from the German Insurance Association.
She particularly emphasises "at home". Because this aspect is important. As soon as the bike was not locked in the cellar at home, but was locked outside to a lamp post or a bike stand and was stolen, the insurer generally does not pay, as it is then a case of simple theft. But don't worry, there is a relatively simple remedy here. In most cases, this simple theft of bicycles can be covered by additional clauses and a premium surcharge as part of household contents insurance. This is where the value of the bike becomes important. Because if you have very expensive treasures in your cellar at home, you could reach your limits here.
Compare bicycle insurances!
"Many household contents insurers offer theft cover for bicycles up to a certain percentage of the sum insured or up to fixed amounts for an additional premium," explains Böhne. "Some providers also offer non-contributory co-insurance up to certain percentages of the sum insured or separate upper limits." There is then the option to increase these indemnity limits for an additional premium. In many cases, however, the amount that can be insured is limited, adds Böhne and gives an example: "If you have insured a sum insured of 100,000 euros and the amount for bicycle theft is capped at ten per cent of the sum insured, the insurer will reimburse a maximum of 10,000 euros."
There are currently still major differences in insurance policies. It is therefore definitely worth making comparisons. "Many providers only insure a few thousand euros," says Thomas Giessmann, who runs a comparison portal for bicycle insurance. "Depending on the value of the bike and the insurer's limits, it simply doesn't make sense to insure the bike through the household contents, even if it would often be cheaper than a separate insurance policy." Fortunately, however, the trend is moving in a positive direction and, according to the expert, more and more insurers are able to insure bikes worth €10,000 or more without any problems.
Bicycle insurance: The specialists
In addition to household contents insurance, there is also a very large number of separate bicycle or e-bike insurance policies. Depending on the provider, the insurance cover no longer only covers theft and burglary, but also robbery and vandalism as well as accident and fall damage. Of particular interest to e-bike owners are also topics such as electronic and moisture damage. Julia Alice Böhne outlines the usual characteristics: "The bikes are insurable up to a certain purchase price and age of the bike. The amount of compensation depends on the respective tariff. Deductibles are often also agreed, or only compensation for the current value is provided."
However, as the offers vary, you should compare them carefully - also with the offer of the respective household contents insurance. Thomas Giessmann, who would like to make a contribution to this with his website fahrsicherung.de, also advises comparisons. According to him, there are already many insurers with top benefits on the market today that hardly differ from one another. However, a large number of them still have performance deficits or clauses in their terms and conditions that put customers at a disadvantage. Giessmann cites wear and tear modules as a very popular benefit in bicycle insurance.
In most cases, the claims submitted to bicycle insurers also relate to wear and tear or comprehensive damage rather than theft. "However, customers must also be aware that both the customer and the insurer can cancel the policy after a claim." And after too many wear and tear claims have been submitted, it is the insurer who cancels the customer. To illustrate this, the expert uses a deliberately exaggerated example: "If you wanted to have your brake pads replaced 15 times, you suddenly find yourself without insurance after cancellation due to major damage such as a broken frame. Therefore, the following applies here: use the insurance, but use it sensibly and wisely."
Which bicycle insurances are the most important?
Which insurance and which possible modules are suitable is ultimately a personal decision. This is influenced by objective aspects such as the price of the bike as well as subjective factors. A question such as "Do I simply feel more comfortable with an all-round package?" is just as much a part of this as "Do I have a high level of wear and tear?" and others. And to make the choice even wider, Giessmann says that sometimes combination variants can also be interesting.
If you own several bikes, for example, you can cover the risk of theft with household contents insurance with a high limit. And then perhaps take out bicycle insurance (without the theft option) for the bike that covers a particularly high number of kilometres per year. With tricks like these, it becomes clear once again that the topic can be very complex. But don't start unnecessarily with what is complicated. Perhaps you should first find out what conditions are stipulated in your old household contents contract, if you have one. So perhaps the first step is to go to the shelf where your insurance folder is.
6 practical tips on bicycle insurance
Regardless of whether you already have insurance or are looking for one, you should definitely pay attention to some issues and supposedly small details - from lock specifications to carbon frames.
1 - Insuring a used bike
The joy of having made a bargain by buying a used bike in top condition can be somewhat dampened when you look at the insurance conditions. "There are some insurers who still don't insure used bikes," says Thomas Giessmann from the website fahrsicherung.de. Others make you pay dearly for this or only offer limited benefits.
"In addition, most insurers require the initial purchase invoice for the bike. Many insurers also limit the wear and tear module to three or five years from the date of first purchase." So it's definitely worth doing your research and making a thorough comparison. There are also differences depending on the provider as to whether the insurance amount is based on the used purchase value, the amount on the initial purchase invoice or the recommended retail price.
2 - Special case carbon frame
Super light and a wonderful riding experience: carbon has many fans in the cycling scene. And insurers seem to be slowly following suit. Most of them now also insure bikes made of carbon fibre. But since not all of them do yet, anyone travelling with a carbon bike must also pay attention to this aspect.
3 - Bicycle insurance for abroad
Discovering new roads and corners of the world on your own bike: This is the dream holiday of many. But if you want to take your bike abroad, you should check with your insurer beforehand - whether it's household contents or bicycle insurance - to find out whether the cover is also valid for the country you're travelling to.
4 - Night time: No insurance cover?
6 a.m. to 10 p.m.: In some old insurance policies, protection against bicycle theft is limited to this time. Fortunately, this is no longer very common. "Most insurance companies now offer 24-hour cover and therefore waive the so-called night-time exclusion. We recommend only taking out tariffs that waive the night-time clause even without a separate inclusion," advises the German Insurance Association.
5 - Which lock makes sense?
U-lock or folding lock and certain security levelsInsurance terms and conditions often specify the type of lock, which may also include the original invoice for the lock. "If the bike is stolen and it was inadequately secured, the insurance company won't pay a cent," explains Julia Alice Böhne from the German Insurance Association. The best case scenario is that both the lock value and type are specified in the insurance details and that locking the bike is sufficient, says Thomas Giessmann.
"Even if it makes sense to always lock the bike to a fixed object outdoors, in practice there are simply cases where it is not possible or too complicated." He therefore recommends always opting for the simpler insurance option to avoid going away empty-handed in the event of theft. Fortunately, having to lock the bike in your own four walls is not the rule anyway.
6 - Always remember the frame number!
Most people know how many teeth the large chainring of their favourite bike has without counting. But the frame number? Not a chance... And yet this is still important. "You should definitely keep proof of purchase and the manufacturer's documentation about the bike as well as the frame number. This allows you to prove ownership and value in the event of damage. It also makes sense to register the bike with the police. If it is stolen, you should contact the police immediately and then report their diary number to the insurer," says Böhne.
Special case e-bike: A question of speed
The word e-bike is often used for all bicycles with a drive - regardless of how fast the vehicle is currently whizzing over the tarmac. Exact terms and precise speed specifications only become important when looking at bicycle insurance policies. The German Insurance Association points out that only electric bicycles with a maximum speed of 25 kilometres per hour and a motor power not exceeding 250 watts can be insured against theft under household contents insurance.
These are usually pedelecs, i.e. bicycles with pedal assistance up to 25 km/h. Incidentally, these factors also come into play with personal liability insurance if you cause damage to someone else while riding your electric bike. But the same applies to personal liability insurance as to household contents and the like: it is best to clarify the details thoroughly with the insurer.
