What’s the chance my claim will be paid out?
In 2020, 100% of our claims for theft were accepted, meaning 100% of our policyholders were paid out. The reason why? All our customers had made sure to lock their bike to a fixed point with a certified lock when leaving it unattended.
These locks are proven to be the most secure by experts from the police and the cycling industry, so it’s important that you use one. We know it might not seem worth getting one, especially if the lock you currently use works well, but it’s really important that you do. If your bike gets stolen and you weren’t using a certified lock, unfortunately we won’t be able to settle your claim. If you’re unsure which bike locks are certified, check out the webpage we’ve put together to help you choose one.
Since 92% of our claims are for bike theft, we’re pretty happy that we’ve been able to help so many customers.
As for claims due to material damage, 57% of the claims we received in 2020 were paid out. Unfortunately, the rest of them couldn’t be settled since the estimated damages were below the policyholders’ deductibles.
Is there anything more I can do to keep my bike extra safe?
We’ve mentioned that you should use a certified bike lock. If you want to go the extra mile, try using 2 different locks. It will take more time for a thief to cut through both, so it usually deters them well. We recommend using 2 different types of locks (for example, a U-shaped lock and a chain lock).
When you attach your bike and lock to a fixed point, look for a pole or something tall enough that your bike can’t be lifted over it. We recommend something at least 2 meters tall.
Keep in mind that 77% of stolen bikes are electric. They’re appealing to thieves because they’re worth more than standard bikes, so if you have one, consider removing your bike’s battery whenever it’s possible. Studies show that thieves are 50% less likely to steal an electric bike if the battery’s not on it.
Also, 70% of stolen bikes had been left outdoors. The remaining 30% had been left indoors, in public bike sheds. If you have the option, always opt to park your bike in an indoor storage area, where it’s less visible to potential thieves. Even when you park it indoors, don’t forget to lock your bike. Consider it double the protection.
It’s particularly important to be cautious with your bike if you live in a city. 77% of bike thefts in France happen in Paris, and 75% of bike thefts in Belgium happen in Brussels. There are simply more bikes lying around a city, so these places are prime targets for thieves.
Lastly, for ultimate protection, we suggest adding a GPS tracker to your bike. It sends out its location every 5-10 minutes when it’s in motion (with no range limit) and can send anti-theft alert notifications to your phone, so if your bike is being moved suspiciously, you can rest assured that you’ll be able to track it down. You can read more about the GPS tracker we recommend here.
We’re letting you know so you can take precautions to keep your bike as safe as possible. We don’t want you to have a claim. But if life gets in the way and you run into trouble with your bike, we’ll be here to make you a happy cyclist again.