# Theft Insurance Policies

This page compiles information about popular theft insurance policies, including key requirements to satisfy the policy to get paid out in the event of a theft.

The purpose of this article is to give you a high-level overview of what you should be aware of to improve your chances at filing a winning theft insurance claim.

# United States

# Markel

In the United States, Markel Insurance is an insurance carrier that underwrites speciality bicycle insurance policies, which includes theft coverage at and away from home. They cover both traditional bicycles and e-bikes with motors that are at or below 750W and travel no faster than 28 mph. See their FAQ for more details.

Markel has a publicly-available sample theft insurance policy. Here are a few notable details within this policy as it relates to theft coverage:

• when parking your bike or e-bike away from home, the policy will only pay out if the bike is "properly secured to an immovable object with an appropriate security locking device
• an "appropriate security locking device" is defined as "a device with a key lock or combination lock designed to physically and securely fasten a bicycle to a bicycle stand or an immovable object"
• an "immovable object" is defined as one of the following:
  • "any solid object fixed in or onto concrete or stone, which is not capable of being undone, removed or lifted under/over the insured bicycle"
  • "a properly fixed motor vehicle roof rack"
  • "a properly fixed vehicle bicycle rack"
• the policy will only pay out if you can provide "a copy of a police report detailing the time, place and manner of the theft and the security device that was used"
• if you lend your bike to someone and they steal it from you, that is not covered

Markel states that providing all relevant information when making a claim will both speed up the process, and improve your chances at being reimbursed for the loss of your vehicle. The relevant information includes:

• Your policy number
• The date, time, and location of the theft
• Photo(s) of where the bicycle was stolen, including that of the damaged lock(s) (if they are left by the thief)
• A copy of a police report
• Receipts for your bicycle (and lock(s)/accessories/spare parts/etc. if you elected coverage for them)

Markel underwites the policies for a handful of brokers in the United States, including Velosurance, Simple Bike Insurance, and others. This means that policies sold through these brokers will most likely be subject to the same requirements as those listed above for Markel.

# Velosurance

Velosurance describes the process of filing a theft claim as follows:

• A police report detailing how the theft occurred; submit your claim ASAP, even if a police report is not immediately available
• A picture of the defeated security device/lock, if available
• Your statement of how the bike was secured
• A receipt or photo of the security device, if available
• Your policy number

They also state that you "may be asked to provide pre-accident photos and bike purchase receipts."

# Simple Bike Insurance

Simple Bike Insurance (SBI) provides a guide for filing a claim, which lists the following details needed for theft claims:

• A copy of your police report. SBI says that you can initiate a claim without it, but indicates that it will likely be needed to finish processing the claim.
• Detailed photos of any evidence of theft, if you have them. This includes photos of the damaged lock.
• A description of what happened and how it happened, including dates, times, other individuals involved, locations, etc.
• Copies of receipts for your lock(s)
• Your policy number

# Europe

# Qover

Qover offers bike insurance with theft coverage for many European countries, including Belgium, France, Germany, the Netherlands, the United Kingdom, Spain, Portugal, Italy, Poland, Sweden, Norway, Finland, Denmark, Ireland, and Austria. They cover 2-wheeled and 3-wheeled bikes and e-bikes that do not exceed 15.5 mph (25 kph). For e-bikes, the battery is not covered.

Notably, Qover coverage requires that you purchase and use an approved lock, which must meet one of the following certifications:

• Sold Secure Silver or higher
• Abus security level 10 or higher
• ART 2 or higher
• FUB 2 wheels or higher

In another page on their site, Qover also identifies additional standards that are acceptable:

• VdS approved (A+ or B+) (AXA hiplock, Kryptonite, Linka (with a chain), Master lock, Texlock, Trelock)
• Onguard
• SRA

Some examples of approved locks include:

• Kryptonite EVOLUTION Integrated Chain series
• Kryptonite New York U-lock series
• ABUS Detecto SmartX
• ABUS Granit CityChain X-Plus 1060
• AXA Newton Promoto 4
• AXA Solid Plus + Plug-in Chain DPI
• Trelock RS 481, RS 481 + ZR 455 (chain)
• Trelock U5 Mini series