Bicycle Insurance
Our Bicycle Insurance provides even better coverage for your bicycle.Bicycles, both conventional and electric, are well covered with us, because after the first year the value of the bicycle only depreciates by 10% annually from the purchase price. Depreciation stops when the value has reached 30% of the original purchase price.
More about Bicycle Insurance
- There is no need to carry the bicycle with you everywhere. Keep it in locked storage or use a secure bicycle lock.
- We recommend Bicycle Insurance if you have a bicycle worth ISK 200,000 or more.
- The deductible is always ISK 50,000 regardless of the value of the bicycle.
- The premium you pay per year is based on the value of the bicycle in that year after depreciation and not the original purchase price.
- If you have F Plus, you get a 50% discount on the premium.
- If you or your spouse have an F Plus policy that includes valid Leisure Time Accident Insurance, it covers damage that occurs during training and competition in cycling without additional charge.
- The Bicycle Insurance covers all sudden, external events which are not specifically excluded.
- The insurance is valid in Iceland and during travelling for up to 92 days, plus the time it takes to transport the bicycle between countries.
The insurance covers
- All damage to a bicycle due to sudden, external events unless otherwise expressly stated.
- Theft of a bicycle that has been reported to the police where the bicycle is not found within 14 days of the theft.
- Damage due to falling rocks, landslides, avalanches from mountain slopes, mud or water floods, and lightning.
The insurance does not cover
- Bicycle wear and tear due to use, e.g. corrosion, rust and other normal wear and tear.
- Damage to the bicycle due to scratches, dents or damage if it does not impair its usefulness.
- Damage due to failure, incorrect assembly or defect.
- Theft if the bicycle was not kept in locked storage or locked to a fixed object.
Please note that the above list is not exhaustive. Further information can be found in the insurance terms.
In case of discrepancy between this list and the insurance terms, the insurance terms applies.
Insurance Terms
The insurance terms is your contract with VIS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance. We point out that the information document contains a brief summary of the main aspects of the insurance. Further information about the insurance can be found in the insurance terms.