Bicycle Insurance in 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.
One contract, multiple bikes: As long as the bikes are all yours or belong to people living with you, you should be able to insurance more than one bicycle under your contract. This is especially helpful for families. However, there is usually a limit on the combined value of all the bikes. For example, with Getsafe the bikes cannot be worth more than €10,000.
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 (sometimes you have to pay extra for this).
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, 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: The price also usually 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: The deductible you set can 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. However, a deductible can decrease the amount you pay each month.
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. For instance, with Getsafe adding coverage for vandalism and part theft is only €0.65/month.
Best Insurance Company for Foreigners in Germany
Getsafe is one of the top bicycle insurance providers in Germany. Getsafe offers an affordable bicycle insurance plan, and really good coverage. For example, Getsafe covers everything mentioned in the “What’s Covered” section of this article. Plans start at €1.00/month. Best of all – Getsafe’s website, application and customer service are all in English. This is one of the best options for expats in Germany.
Click here to get bicycle insurance with Getsafe!
Does Bicycle Insurance Cover Damaged Bicycles?
The bicycle insurance covered in this article is for bicycle theft insurance. If you crash your bicycle then this insurance would not cover the cost of repairing or replacing your bicycle.
Does Bicycle Insurance Cover Damages You Cause While Biking?
Bicycle insurance does not cover damages you cause while biking. However, in some cases, private liability insurance covers damages you cause while biking. A company that provides private liability insurance in English is COYA. COYA’s website states, “The insurance covers statutory liability, e.g. because of damages caused by the use of bicycles or electric bicycles that are not subject to compulsory insurance bicycles (pedelecs).” In other words, private liability insurance with COYA covers damages caused by the use of normal bicycles. Electric bicycles and scooters would need extra liability insurance. Click here to learn more about German private liability insurance in English!
Is My Bicycle Covered Under My Home Contents Insurance?
Some home contents insurance plans will let you choose bicycle insurance as an add-on. In other words, you can pay a little extra each month to have your bicycle insured. COYA is a popular home contents insurance company for foreigners living in Germany that gives you this option. With COYA you can choose bicycle insurance as an add-on. Click here to get home contents insurance in English!
Can I Insure Multiple Bicycles On One Plan?
For most bicycle insurance companies, you can insure multiple bicycles on one plan. If this is an option then you will be able to indicate the number of bicycles you want to insure when you sign up for your plan.
Is Bicycle Insurance Expensive?
Bicycle insurance is one of the cheapest types of insurance you can buy in Germany! Getsafe plans start at €1.00 per month.
More information for foreigners in Germany…
If you don’t already have a bank account in Germany, our article, “German Bank Account” has all the information you need. Read about banking in Germany for English-speakers!
And if you don’t have private health insurance, click here to learn more about it. Everyone living in Germany needs health insurance. It’s the law! And you might need it for your visa. Our article explains what you need to know!
|Lastly, we have a website just for expats in Germany, germany2go.com! You can learn more about private liability insurance, health insurance, home contents insurance and banking – all in ENGLISH!|
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