Your bike loses value every year. We fix an agreed value when you buy the policy so there is no discussion after a claim.
When you insure with Spokely we multiply the price you paid by an age factor: 100% in the first year, 85% in the second, 70% in the third and 55% after that.
Why an agreed value? It is the maximum we pay out in a policy year and it is written on your policy. No depreciation debate after a theft.
Batteries and accessories A battery or child seat bought later does not change the agreed value, but it is part of the bike when we assess damage.
Renewal When your policy ends you can renew from the next day. The age factor is recalculated, so the cover limit follows the bike.
What would it cost to insure your bike?
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