Calculating total insured sum
When filing a bike insurance claim, the maximum reimbursement you can receive is based on the total insured sum that you enter when initially purchasing your bike insurance policy through Feather. To determine the total insured sum, add up the amount you paid for your bike along with your lock and accessories you would like to be included in the policy. This entered amount will serve as the maximum reimbursement limit for any claims you make.
Depending on the date you purchased your bike policy, the terms & conditions regarding your maximum insured sum for claims work differently.
For policies purchased before July 31, 2024:
Purchasing a replacement bike
To be eligible for reimbursement for a theft claim, you must purchase a replacement bike. We recommend selecting a replacement bike that is similar in cost, type, and quality to your original bike.
Along with your claim, you will need to submit a receipt for the replacement bike. If the cost of the replacement bike is lower than your original total insured sum, you will be reimbursed for the replacement bike cost. However, if the cost of the replacement bike exceeds your original total insured sum, you will be reimbursed up to the maximum insured sum, and you will be responsible for covering the difference.
It's also required that the replacement bike is the same type (regular bike or e-bike. If the insured bike is a regular bike (not e-bike), the replacement needs to be one as well. The replacement also needs to be newly purchased from an official bike specialist retailer (not a general retailer such as Amazon or Kaufland).
For policies purchased after July 31, 2024:
Purchasing a replacement bike is not required for bike policies purchased after this date. You are eligible for coverage for your maximum insured amount based on the retail cost of the bike and accessories insured. For damage claims, you are eligible for the full cost of the repairs needed.