Bicycle Insurance Germany
Biking in Germany is very common. It’s especially popular in cities where driving a car might be a little bit of a headache. Like any city, sometimes there is a lot of traffic and limited parking space available. So many German residents rely on their bicycles for getting from one place to another. Unfortunately, bicycle theft happens frequently. Furthermore, it’s extremely unlikely that you’ll ever be able to get your bicycle back. Therefore, it’s important to have bicycle insurance in Germany!
For example, in 2014 thieves stole 31,000 bicycles in Berlin, but police only found four percent of those bicycles. Bicycle theft is becoming more of a problem in Germany. In 2017, across Germany thieves stole 300,006 bicycles. Needless to say – if you have a bicycle in Germany, you’re vulnerable to bicycle theft. That’s why so many German residents get bicycle insurance. Luckily, it’s easy to get and not expensive. Bicycle insurance in Germany costs as little as €1.00 per month.
Table of Contents:
- What’s Covered
- The Cost of Bicycle Insurance in Germany
- Best Insurance Company for Foreigners in Germany
Every bicycle insurance company has different coverage. However, in general, a good bicycle insurance company will cover the following:
All types of bicycles: A good insurance company will cover road bikes, mountain bikes, e-bikes, carbon bikes and pedelecs.
Theft, burglary and robbery: Assuming your bicycled was locked, you can receive reimbursement for your stolen bike.
24-hour protection: It’s very important to choose a company that offers 24-hour protection. Bicycle theft is most common during the night. Therefore, make sure you read the fine print and choose a company that covers bicycle theft that occurs at night!
Bicycle lock: Your bicycle lock is usually also insured if it was stolen.
Worldwide insurance: If you travel often, try to choose an insurance company that offers insurance for your bicycle(s) outside of Germany.
Reinstatement value principle: Your insurance company should pay you the value of your stolen bicycle so you can buy a new one.
Minimum term: You can cancel your insurance whenever.
Vandalism: There should be an option to include vandalism with your insurance policy. For some bicycle insurance providers, vandalism is automatically included and for others you will have to pay extra for it.
Part theft: Your insurance company should insure stolen parts of your bike. Usually these parts need to be necessary parts of your bicycle (e.g. the pedals or bicycle seat).
The Cost of Bicycle Insurance in Germany
The cost of bicycle insurance in Germany depends on many different things. Nevertheless, it is usually very inexpensive.
Zip code: For starters, normally your zip code impacts the cost. If you live in an area more prone to crime it will be more expensive than if you live in a neighborhood with low crime rates. This is simply because an area with higher crime rates has a higher chance of theft. Therefore, you would be a higher risk for an insurance company.
Number of bikes: Some bicycle insurance companies will let you add multiple bicycles onto your plan. In this case, the price also depends on the number of bikes you insure. If you include more bikes on your insurance plan then it will be more expensive.
Sum insured: When you sign up for bicycle insurance you will have to indicate the sum insured amount. This amount has to coincide with the amount it would cost to replace all the bikes. For example, if the value of your bikes is €1,000 then the sum insured would be €1,000. The higher the sum insured, the higher the cost of bicycle insurance.
Deductible: Some bicycle insurance companies have deductibles. If this is the case, then the deductible you set can either increase or decrease the cost of your bicycle insurance. This is the amount you pay before your insurance company pays. For example, let’s say your deductible is €150 and your bike (valued at €1,000) is stolen. You would pay €150 and your insurance company would pay €850. You should have the option to opt out of setting a deductible.
Add-ons: Add-ons might increase the price of your bicycle insurance plan. For example, add-ons like vandalism and theft of parts might mean you have to pay more. However, this should never dramatically increase the cost.
Best Bicycle Insurance for Foreigners in Germany
COYA is one of the top bicycle insurance providers in Germany. COYA offers an affordable bicycle insurance plan, and really good coverage. For example, COYA covers everything mentioned in the „What’s Covered“ section of this article. Plans start at €4.41/month. Best of all – COYA’s website, application and customer service are all in English. This is one of the best options for expats in Germany.
Does Bicycle Insurance Cover Damaged Bicycles?
Does Bicycle Insurance Cover Damages You Cause While Biking?
Is My Bicycle Covered Under My Home Contents Insurance?
Can I Insure Multiple Bicycles On One Plan?
Is Bicycle Insurance Expensive?
More information for foreigners in Germany…
To get more information about home contents insurance, our article, „HOME CONTENTS Insurance in Germany,“ has everything you need to know!
If you want to learn about personal liability insurance in Germany then make sure you check out our article, „How To Get Personal Liability Insurance Germany.“ It has all the information you need, in ENGLISH!
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