The rules of the Spokely demo and of the policies it models.
Spokely is a demonstration of a bicycle insurance website. Prices are calculated for real from a rate table, but the checkout is simulated and no real insurance contract is concluded.
Essential cover protects against theft and vandalism. All-risk adds accidental damage. The most we pay in a policy year is the agreed value printed on the policy: your purchase price times an age factor (100%, 85%, 70%, then 55%).
A policy runs for one year, from the start date to the day before the next anniversary, both days included. A bike can have only one live policy at a time.
Bikes worth over EUR 1,500 must be locked with an ART-2 or ART-3 approved lock; bikes worth over EUR 5,000 with an ART-3 lock. Theft of a bike that was not locked as required can be declined.
The yearly price is the agreed value times the rate for the bike type and cover, adjusted for your excess, with a minimum of EUR 48, plus 21% insurance premium tax. Paying monthly adds 4% and is split into 12 instalments. The price is fixed when you buy.
File a claim within 60 days of the incident. A theft claim needs a police report reference. A claims handler decides each claim; the payout is the approved amount minus your excess and cannot exceed the cover limit. A paid theft claim ends the policy.
Within 14 days of buying you receive a full refund. Later, you receive the unused part of the premium you paid minus a EUR 15 administration fee. You cannot cancel while a claim is open, and there is no refund after a claim has been paid.