How to insure your electric bicycle?
The guarantees of your home insurance
It is important to know that home insurance can cover disputes regarding your Electrically Assisted Cargo Bike (EABB) in certain cases. However, to be sure you are 100% covered, you must subscribe to specific guarantees specific to your insurer. It is important to know that your home insurance includes civil liability coverage that will cover you if you are responsible for damage caused to others. Whether it is simple material damage or bodily injury (pedestrians run over). However, if you are the cause of an accident or if you fall alone, you may suffer physical damage. Civil liability will not be able to cover this type of damage. It is necessary to inquire about individual accident insurance (school insurance, “life accident cover”). They complement the compensation of health insurances in case of accident.
Points to check with your insurance company
It is important for you to pay close attention to where your insurance coverage applies. Check with your insurance company to make sure that in the event of theft, for example (theft by trickery or assault), it is not excluded from compensation.
- The anti-theft device
Many insurers wish to secure your bicycle on public roads with an anti-theft device in order to make the theft guarantee applicable. Pay particular attention to the make and model that your insurer requires!
- The deductible
The majority of contracts impose a franchise, which can often be significant.
- Obsolescence clauses
In case of theft, you will not get a reversal or a new replacement. The insurance companies apply a discount to the reimbursement due to the “obsolescence” of your vehicle. In fact, the older your bike is, the less you will be reimbursed. This discount is often 1% per month of age.
The purchase of a VUF is a certain investment, so it is important to protect your property. The home multi-risk policy can cover you against theft if the bike is stored at home. On the other hand, on the street, you need to take out an additional option with your insurer. This cost may vary depending on your insurer, but it is on average €5 per month.