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IT’S MY BIKE and Alteos expand insurance service (eSurance) for e-bikes

Three new special packages now complement the existing range in the IT’S MY BIKE app. Electric bikes can now also be insured up to a value of 10,000 euros. Customers can choose to pay their subscription for a year or three or five years.

IT’S MY BIKE has been in a cooperative partnership with e-bike insurer Alteos, the AXA insurtech and subsidiary, since 2020. Since then, users have had the option to acquire affordable insurance services in combination with the GPS tracking solution and insure their e-bike against residual risks – in case a stolen bike is not found or is seriously damaged when recovered, for example.

The Berlin insurance start-up is now offering the opportunity to take out three optional special packages Battery Wear, Mobility Guarantee and Individual Part Wear in addition to the existing insurance deals Damage Protection, Anti-Theft Protection Plus or All-Inclusive Protection.

Battery Wear allows the customer to replace their e-bike battery should its charging capacity decrease by 50 percent within three years. The Mobility Guarantee will reimburse travel and transport costs for e-bike owners if their e-bike breaks down or is stolen. The Individual Part Wear package covers wear-related damage caused by mechanical wear.

Also new: e-bikes can now be insured up to an initial value of 10,000 euros (previously 7,000 euros). If the bike is lost or is a write-off, the insurer will pay out the replacement value without deductibles. Moreover, users can now enter the IT’S MY BIKE app and choose whether they want to pay annually or every three or five years in advance.

You will find more information on insurance coverage and the new special packages here: https://shop.alteos.com/ebike