Teresina Herb could have been annoyed by the blacks. She had only hooked her bike to the tram stop for one night. The 38-year-old computer scientist from Wuppertal came back the next morning – the bike was gone. She went to the police and reported the theft, but the officers gave her little hope. The clearance rate for bicycle theft is only around ten percent. Herb never saw her bike again. And because she didn’t take out insurance, there was no money for a new bike.
Many Germans feel the same way as Herb every year: According to police crime statistics, 260,000 bicycles were stolen nationwide in 2020. According to GDV, German insurers paid out 110 million euros for around 145,000 stolen bicycles last year. “Owners received an average of 730 euros when they reported their stolen bike to their insurer,” says GDV.
If you are thinking about taking out insurance for your bicycle, you have various options: In principle, bicycles can be included in the household contents insurance. This policy covers damage or loss of the bike caused by fire, storm, hail, tap water or burglary. A burglary is when bicycles are stolen from a locked room, such as a basement.
“Simple theft” is automatically covered in just a few house rates
Often, however, bicycles are stolen while the owner had it attached to a lamppost in front of the cinema or pub. This is what insurers call “simple theft”, and according to the Federation of Insureds (BdV), this is only insured free of charge in a few house rates. “If you are unsure whether your own policy also covers simple theft, you should take a look at your contract,” advises Bianca Boss from the BdV. “If this is not the case, the risk can be included in return for a premium.” This is particularly recommended for high-quality bicycles.
Basically, the following applies: The insurer only pays out in the event of theft if the bike was secured with an appropriate lock. Some insurers specify how high-quality the lock must be. The insurer Arag, for example, only recommends locks that are recognized by the independent testing institute VdS. The following always applies: “A frame lock is not enough for security,” says Peter Grieble from the Baden-Württemberg consumer center.
It is important to choose the correct sum insured. “The sum insured should correspond to the purchase price,” advises Arag. Because in the event of a claim, the consumer only receives the amount actually paid as a replacement. The contents insurance does not cover damage caused by vandalism or theft of parts.
If you also want to insure this component, you can do so with a special bicycle policy. These contracts are more extensive; they also cover repairs or wear costs, for example. Since the risk of theft and vandalism varies widely in Germany, the prices for such a policy vary from region to region. For example, according to the comparison portal Check24, the insurance of a bicycle costing 2000 euros in Cologne costs up to 25 euros per month, in Garmisch-Partenkirchen the consumer has to put down a maximum of 19 euros per month.
Pedelecs can also be covered by household contents insurance as long as they do not travel faster than 25 kilometers per hour. “However, the expensive vehicle is initially only protected against burglary from a closed room such as a cellar or apartment,” said the insured party. Since something like this rarely happens, it is advisable to integrate extra bicycle theft protection into your household contents insurance.
Anyone who rides an expensive pedelec can think about taking out fully comprehensive insurance for their bike. Then, in addition to theft, accident damage, vandalism or theft of parts are also insured. Because the batteries are particularly popular with thieves.
Teresina Herb has bought a new bike again. She now wants to insure that through her home insurance.