How to compare and choose your bike insurance in France?

With more than 400,000 bicycles stolen in France per year, bicycle insurance can be very useful, but how to choose it?! We detail below the elements to take into account during your comparison.
How not to be fooled when choosing your bike insurance?
Here are the 7 key points to consider when choosing your bike insurance.

    Deductible and depreciation
    Overnight exclusion
    Do you need a specific lock?
    Professional use
    Pay attention to the type of bike
    Check the terms of your home insurance
    The bounty

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1. Deductible and depreciation

In order to reduce the risk of fraud, the insurer may apply a deductible and/or a depreciation of your bicycle in the event of a claim.

The deductible is generally quite easy to understand, for example when a 10% deductible is applied on a €3,000 bike, if your bike is stolen, you will be reimbursed €2,700 (i.e. €3,000 - €300).

English deductible is a kind of customer-beneficial deductible which is applied on property damage. If the amount of damage is below the English deductible, you pay for your property damage. If the amount of damage is greater than the English deductible, you pay nothing and the insurer pays for the full repair.

Depreciation or obsolescence can in some cases be much less transparent to the customer and can be applied in addition to a deductible. In Belgium, in most cases the insurer applies a depreciation of the value of your bike of 1% per month from the 13th month, but it starts from the date of purchase of your bike, which means that if your bike is stolen after 18 months, you will have to pay the equivalent of an 18% deductible!

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At Qover-me, we have decided to apply a standard deductible of 10% in the event of theft or total loss and an English deductible of 10% in the event of repairable material damage, always with a minimum of €50 and a maximum of €200. We do not apply obsolescence, we insure the replacement value of your bike.

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Let's take a concrete case:

You bought a new electric bike for €3,000 and you have it stolen after 2 years.

- With an insurer that applies a depreciation from the 13th month of 1%, you will be reimbursed €2,280

- With Qover-me, you will be reimbursed €2,800