Electric bicycles are becoming more and more popular in Germany. The number of private households that own at least one e-bike has almost tripled in the last five years. With immediate effect, ERGO is offering e-bike insurance with comprehensive all-risks cover valid worldwide. It includes 100% reimbursement of the purchase price in the event of total loss or loss of the bicycle over the full term of the contract. It also includes electronics, battery and mobility cover.
E-bikes are driving a boom in the bicycle industry, with double-digit growth in some cases. During the Covid crisis in 2020, sales were some 43% up on the same period in the previous year (source: Zweirad-Industrie-Verband, the German bicycle industry association). The new e-bike insurance covers “pedelecs”, colloquially referred to as e-bikes, which provide motor assistance up to 25 km/h. Faster bikes such as s-pedelecs, with assistance up to 45 km/h, have to be covered through motor insurance. As Peter Schnitzler, who heads up the third-party liability and property lines of business, explains, “E-bikes offer a new form of mobility, but do pose different challenges from traditional bicycles. For example, with sensitive electronics, a larger range and usually a significantly higher value, a loss or repair can easily become very expensive. We have therefore put together an all-inclusive package”.
Worldwide all-risks cover
The e-bike insurance offers comprehensive, worldwide cover for all kinds of destruction, damage, theft, burglary and robbery. In the event of total loss, ERGO reimburses 100% of the purchase price during the entire term of the contract – with no deductions. The insurance also covers premature deterioration in the battery’s performance, applying if performance falls by over 50% in the first three years following purchase of a new battery. Defects in materials, construction and manufacture are also covered – losses occurring after expiry of the manufacturer's or supplier’s guarantee or warranty obligations are insured.
Electronics and mobility protection
At the heart of an e-bike are its sensitive electronics. It was important for the e-bike insurance to reflect that, so it covers damage caused by short circuits, induction, overvoltage and moisture. And thanks to the mobility protection, a mechanical problem doesn’t mean the trip is over. Because ERGO reimburses costs resulting from a breakdown, e.g. the journey home by taxi, the recovery service or even overnight hotel accommodation – up to €500 per breakdown and €1,000 per year. Customers are free to choose the workshop carrying out the repair. As Andrea Mondry, member of the Board of Management of ERGO Versicherung put it, “When we designed the product, our focus was always on what customers need. We are there for our customers when it matters”.
