The new online bicycle insurance policy from ERGO offers protection in the event of theft, vandalism and breakdowns – along with comprehensive breakdown assistance throughout Austria. The insurance policy can conveniently be concluded at any time and anywhere via the ERGO website. Its coverage ends automatically upon expiry of a term of 6 months or one year.
Seventy-five bicycles were stolen each day in Austria in 2016 – that’s more than 27,000 bicycles annually. The estimated number of unreported or undetected cases of theft is significantly higher. Of that figure, about 60 per cent were stolen in Austria’s regional capitals, as is shown by a current survey conducted by the VVO [Austrian Insurance Association] and the KFV [Austrian Road Safety Board] (http://bit.ly/2r5wfV3).
Along with the trouble of losing the bicycle or e-bike, the victim must also deal with the additional financial burden of having to buy a new bicycle. Theft of a bicycle or e-bike is certainly covered by the ERGO household insurance policy; the coverage is for up to 3,000 euros if the bicycle is stolen from the victim’s home cellar compartment and up to 1,500 euros if the insured bicycle or e-bike was stolen from the insured property. However, most bicycles are stolen directly off the street and not at home during burglaries.
‘ERGO offers a separate bicycle insurance policy so that your bicycle or e-bike is also insured in public. It is independent of any household insurance policy, can be concluded online, and covers damage of up to 10,000 euros. In this way, we are answering the demand of our customers for short-range insurance products that can be concluded quickly and easily on the website,’ says Christian Sipöcz, ERGO board member for property-casualty insurance.
The ERGO bicycle insurance policy for theft and vandalism
The ERGO bicycle insurance policy protects bicycles or e-bikes, including accessories, of a total purchase price of up to 10,000 euros throughout Europe. There are two options for optimal protection, depending on security needs: the ‘Bike Basic’ option insures the bicycle against theft, burglary, and robbery. The requirement is that the bicycle or e-bike is secured in a stairway, courtyard or the like with a lock of a high safety standard (D-lock or folding lock) at the time that it is stolen.
The ‘Bike Plus option’ offers complete coverage. In addition to the Bike Basic protection, this package also includes the following services:
- Partial theft: parts that are essential components of the bicycle such as the saddle, front or rear wheel are insured in the event of theft.
- Vandalism: repair costs will be reimbursed in the event of intentional damage; in the event of destruction due to vandalism, the purchase price less loss in value due to use or age will be reimbursed.
- Bicycle assistance: breakdown assistance throughout Austria
Fast help during breakdowns
The bicycle assistance service that is part of the ‘Bike Plus’ package offers fast help on site in an emergency, from recovering the bicycle to transport to the nearest bicycle repair shop after a breakdown or accident (up to max. 200 euros). If it is not possible to repair the bicycle or e-bike, the assistance service will organise and accept the costs for the trip home, even in the event of theft (up to max. 150 euros). If the bicycle lock stops working or the key is lost, the assistance service will see to finding a locksmith to help on site (up to max. 200 euros). The breakdown assistance can be used throughout Austria and within 25 km past the Austrian national border. Bike Plus customers can receive information about service addresses and bicycle repair shops via the free service line.
Easily get a quote and conclude a policy online, and you’re off
The ERGO bicycle insurance policy can be concluded quickly and conveniently directly via the website. Accepted payment methods are Visa, MasterCard, PayPal and instant bank transfer. The premium is paid once upon conclusion of the policy. The premium is calculated according to the value of the bicycle or e-bike (price as per the invoice). An excess of 100 euros is cancelled upon registration of the bicycle or e-bike on the http://www.fase24.eu/ platform.
Along with the two package options, the policyholder can also choose between two terms: 6 months (for a cycling season) or 1 year. The customer is immediately insured after entering the purchase price, personal data, the desired insurance package, the chosen term and the start date of the insurance coverage. The coverage ends automatically upon expiry.
ERGO Austria International AGpresse@ergo-versicherung.at
Businesspark Marximum / Objekt 3
Tel. +43 1 27444-3703
ERGO Versicherung AG, which can look back on a successful history spanning well over 100 years, is one of the leading insurance companies in Austria today. ERGO Versicherung AG is a subsidiary of ERGO Austria International AG and thus part of the ERGO Group, and of Munich Re, which is one of the world’s leading reinsurers and risk carriers. Within the scope of strategic cooperation agreements with partners UniCredit/Bank Austria and the Assocation of Volksbanks, as well as via its own field service, associated brokers and agents, and direct sales channels, ERGO offers a customer-focused range of life, health, property and casualty insurance products for the specific needs of private and business customers.
Further information is available at www.ergo-versicherung.at and www.ergo-austria.com
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Please note: The descriptions and information above are for press release purposes only. They in no way constitute a recommendation or any other type of insurance advice, nor do they amount to a request that you purchase an insurance policy and they are without obligation.
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of ERGO Austria International AG. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation, and performance of our Company. The Company assumes no obligation to update these forward-looking statements or to conform them to future events or developments.