What insurance do you need for a speed pedelec?
Are you considering buying a speed pedelec? Then you are probably wondering what insurance is compulsory for a speed pedelec. You are right to wonder, because traffic is unpredictable and accidents can happen. In this article we will answer all your questions concerning speed pedelec insurance.
Compulsory insurance for a speed pedelec
Regulations in Flanders are clear: you do not need insurance for a speed pedelec, unless you have one that can exceed 25 km/h without pedal assist. In that case, motor vehicle liability insurance is compulsory.
Extra practical insurance for your speed pedelec
First and foremost: you don't buy a speed pedelec every day. It is an expensive purchase of several thousand euros. If you then find your bike stolen as you come out of the baker’s, that is a real bummer.
With bicycle insurance , you can insure a speed pedelec against various risks, such as theft and damage.
For our leased bicycles we take out comprehensive insurance against damage and theft as standard. It also includes breakdown assistance. All these things take the hassle out of cycling. If you buy a speed pedelec in one of our shops, you can also take out comprehensive bicycle insurance for it.
Another useful insurance you can take out is family insurance , which covers damage caused by your speed pedelec to third parties. This is not a compulsory insurance either, but it is a very useful one.
Legal expenses insurance entitles you to legal advice and expert legal assistance. This insurance comes in handy if you get into some kind of conflict with your speed pedelec in traffic. Your insurance company will always try to reach an amicable settlement with the other party first. If you end up in court nevertheless, the insurer will bear the litigation costs (lawyers'/experts' fees and costs of the proceedings).
Why take out insurance?
You do not have to take out bicycle insurance for every bicycle. If you have a bike that is only worth 500 euros, insurance isn’t very useful. However, most speed pedelecs range between 4,000 and 7,000 euros, so insuring yours certainly makes sense.
As mentioned earlier, with comprehensive bicycle insurance you are protected against theft and damage. According to FEBIAC, the Belgian Automobile and Bicycle Federation, more than 150,000 bicycles are stolen every year. Even if the theft is unsuccessful, your speed pedelec may be damaged.
In addition to theft, speed pedelecs are often involved in road accidents. Have you had an accident with considerable damage to your pedelec? Then you can claim the damage under your bicycle insurance policy. You pay an excess and the remaining amount is paid by your insurer.
So while insurance is not compulsory, it can be a life saver.
How much is bicycle insurance for your speed pedelec?
The costs of a speed pedelec bicycle insurance depend on various factors. The value of the bicycle is an important one, as is what is included in the policy. The general rule is: the more extensive the cover, the more expensive the insurance for your speed pedelec. So the premium will differ from one person to the next and is calculated on the basis of the following criteria:
- The age of the speed pedelec. Is it new or is it several months or years old?
- The purchase price of your speed pedelec. The higher the list price, the higher the premium.
- The desired coverage: how high is the excess (the part you pay yourself under a claim)? Does the insurance include breakdown assistance?
- Other insurance policies with your insurer: Do you have any other policies with your insurer? Then ask if you qualify for a discount on your bicycle insurance.
Buying a speed pedelec
Are you considering buying a speed pedelec? Then visit one of our bicycle shops in Ghent, Kluisbergen or Roeselare. We have many quality brands in our range, such as Riese & Müller and Stromer. Did you know that you we can also help you out with finance? Cyclobility offers a cheap bicycle loan at 0.00% .
Leasing a speed pedelec is also possible with us. Would you like to lease a speed pedelec as an employer or employee? Then contact us and we’ll come and talk to you.