Question 1

Why should I insure my bike with Karl?

Accepted Answer

Karl offers the best and fastest claim processing in the industry. Not feeling great about leaving your new bike outside? Worried that a broken carbon fork on your mountain bike will blow a hole in your budget? Need your bike to get to work, catch the train, or just get out and about, and think it’ll take forever to get your money if it’s stolen, leaving you without a bike for ages if something happens?

That’s exactly when Karl is there for you, getting you a new bike within a day or covering the repair costs. Too good to be true? Check out our reviews!

Question 2

Who is behind Karl?

Accepted Answer

Everything that makes Karl—helpfulness, friendliness, and even its appearance—is thanks to Engimono GmbH. Engimono GmbH develops and markets focused insurance solutions in various fields. To ensure reliability and security, Helvetia Global Solutions Ltd, one of the most respected and solid insurers, is the risk carrier behind Karl.

Your insurance policy is with Helvetia, not us, and Helvetia will be around for decades... just in case you’re worried about whether we as a startup will still be here in three, five, or ten years.

Regarding the offered bicycle insurance, Engimono GmbH acts as an insurance agent in the name of and on behalf of Helvetia Global Solutions Ltd (Liechtenstein) and is authorized to offer and conclude the insurance product.

Question 3

What happens to my insurance if you’re no longer around?

Accepted Answer

If you’re worried about whether we as a startup will still be here in three, five, or ten years and what will happen to your insurance, let us ease your mind. The insurance is with Helvetia Global Solutions Ltd (Liechtenstein), which is not only very large but also solvent, so your insurance will continue even if we as a small company are no longer around. Of course, we have other plans, but it’s worth mentioning for peace of mind.

Question 4

How can I contact Karl?

Accepted Answer

Our greatest strength is interacting with our customers. We breathe, think, and live genuine customer friendliness and will always try to solve your problem.

We’re happy to hear from our customers. The easiest way is via email at hallo@karlbikes.com or just give us a call at +43 670 308 3703. Always human, no chatbots.

Question 5

How does Karl handle your data?

Accepted Answer

Protecting your data and handling it responsibly is important to us. At Karl, we don’t use any social plug-ins. We believe in relying less on such services and instead listening directly to what you want and expect from an insurance company.

You can find a detailed description in our privacy agreement. Just so you know: We need to use cookies for the site to function properly and for all features to work smoothly for you. We also collect pseudonymized information about site usage and share this data with Google Analytics and Google Universal Analytics. You can object to the processing of this data and exercise all your other rights regarding your data that we store and process by sending us an email.

Question 6

How do I get Karl?

Accepted Answer

You can easily sign up for Karl at one of our partner dealers when purchasing your bike, or from the comfort of your home via karlbikes.com. You might find one of our Karl displays with a QR Code at the checkout in bike shops. Just point your phone’s camera at it, and you can sign up via your phone.

Photograph or upload the receipt, and as soon as you receive an email with the insurance policy, you’re covered. Most of the time, you’ll have your documents in your email inbox before you even leave the bike shop.

Question 7

What value should I declare for my bike?

Accepted Answer

We always recommend our customers insure the new price you just paid. If you then treat yourself to a few extras or even have a complete bike or e-bike custom-built, the insurance sum should also cover all attachments and extras. It’s important that you send us the invoices for any extras purchased later so they’re covered too. This way, in the event of a claim, you’ll get an equivalent bike or e-bike from us.

Question 8

Can I insure a used bike?

Accepted Answer

Yes. Karl insures used bikes too — what matters is the bike's condition and purchase price, not its age. A purchase contract or invoice is enough as proof of value; you don't need the original receipt from when the bike was first sold. If you have questions about your second-hand bike, just drop us a line at hallo@karlbikes.com — we're happy to take a look.

Question 9

I have a custom bike, does Karl insure that too?

Accepted Answer

Are you having your own unique bicycle or E-Bike built with the highest quality parts? We offer the ideal insurance coverage for that too. In the event of a claim, you'll receive the full (new) price of the component even years later. When signing up, you can specify the total value of all individual parts (frame, fork, wheels, hubs, and so on) and upload up to 8 separate invoices. If you need more space, you can simply send the invoices to us at hallo@karlbikes.com and we'll sort it out for you quickly.

Question 10

How old do I have to be to get insurance with Karl?

Accepted Answer

You can join from the age of 18. If you're younger and still want to insure your bicycle or E-Bike with Karl, write to us at hallo@karlbikes.com and we'll try to find a quick solution for this case too.

Question 11

Is there an option to insure wear and tear?

Accepted Answer

Karl also covers "wear parts" as long as a sudden event causes the damage. A broken derailleur is insured just like a burst tire. However, Karl does not cover ordinary wear and tear. Replacing a worn-out tube after a season because you'd like a new one is not something Karl can cover. The same applies if your E-Bike's battery no longer performs as usual without an external cause. This replacement cannot be claimed with Karl; it falls under the manufacturer's warranty.

Question 12

What is included in my Karl policy?

Accepted Answer

Karl insures your bicycle, E-Bike, and all fixed parts (saddle, handlebars, special wheels, hubs, forks, even the trip computer) along with the lock, provided you upload the invoices and consider the value in the specified insurance sum. The insurance covers all risks. Even damages you cause yourself (like a fall) are insured; additionally, of course, damages due to fire, water, storm, theft, and so on.

Question 13

What is not insured with Karl?

Accepted Answer

In our insurance terms, we've listed everything that's not covered. Mainly, this includes any damage that occurs slowly over a long period. Here's an example: Your bike that rusts away over months in the wind and weather isn't covered, but your bike damaged in a hailstorm is covered by Karl. Anything covered by the manufacturer's warranty is also not insured, like a defective battery in your E-Bike from the start. Damage that occurs while your bicycle or E-Bike is being repaired or modified is also not covered. Such damage is usually covered by the workshop's insurance. Damage you cause to someone else with your bicycle or E-Bike is not covered by Karl but by liability insurance, if you have one. If you have questions or want any point explained with examples, feel free to email us at hallo@karlbikes.com.

Question 14

When does my insurance start?

Accepted Answer

Your insurance is active as soon as you receive an email from us with your insurance policy. If you sign up on-site with one of our Karl partners, you usually have the email in your inbox before you even roll out of the shop with your new bicycle or E-Bike. So, you're already insured on your way home. If you mistyped your email address or if there was an issue with the payment, like entering the wrong credit card number, you won't receive a policy, and we'll notify you that something went wrong. Once you have a policy, you know everything went smoothly, and your bicycle or E-Bike is insured.

Question 15

Is my bike insured while traveling?

Accepted Answer

Yes. Your bike or E-Bike is insured with Karl worldwide, on long trips and weekend getaways too. You should be able to ride without worrying about what happens if…

If you can't ride on during a trip after an insured damage, we pay for a rental bike or E-Bike so you can continue your trip or get back home or to where you started: for up to 14 days, at most €25 a day and 10 % of the sum insured in total, against proof of the costs.

What matters if something happens: report every claim to us immediately, no later than 72 hours after you become aware of it. For a theft we need a police report, such as a report confirmation. If getting one abroad isn't possible or doesn't make sense, tell us in your claim report, by form or email, and send the police report once you're back home. We reimburse public transport or a taxi home or onward up to 10 % of the sum insured, against invoices or other receipts.

Question 16

Is my bike insured at events or races?

Accepted Answer

Your insurance with Karl is valid worldwide. No matter when or where. You're insured while participating in a bike race or a triathlon. You can focus entirely on the competition.

Question 17

What accessories are covered?

Accepted Answer

Karl insures your bicycle or E-Bike along with all parts permanently attached to it, like lights, bell, saddle, kickstand, mudguards, and even your bike lock, if you've uploaded the receipt and included the amount in the insurance sum.

If you have your custom bicycle or E-Bike assembled with high-quality parts, we offer the ideal insurance coverage for that too. In the event of a claim, you'll receive the full (new) price of the part even after years. When signing up, you can specify the sum of all individual parts (frame, fork, wheels, hubs, etc.) as the insurance sum and upload up to 8 individual receipts. If you need more space, you can simply send the receipts to us at hallo@karlbikes.com, and we'll sort it out for you quickly.

Question 18

Do I always get the new value of my bike?

Accepted Answer

Not always. When you take out Karl on our website or at one of our Karl partners, you state the value you want to insure. We recommend the new price you just paid.

The maximum you receive in a claim goes down with the years since you bought your bike: in the first year after you bought it 100 %, in the second year 80 % and from the third year 70 % of the sum insured.

The limit applies to total and partial damage alike. Repairs are still paid in full as long as they stay below it: if, say, you damage your fork in a fall in the third year after buying your bike and it has to be replaced, we pay for the whole replacement as long as it stays below 70 % of the sum insured.

Question 19

What happens to the policy if something changes with my bike?

Accepted Answer

You can adjust and change the insurance you have with Karl at any time. Just send us an email at hallo@karlbikes.com, and we'll amend the contract accordingly so that the insurance sum, frame number, etc., are correct again.

Question 20

How do I pay for Karl?

Accepted Answer

When signing up through the website or on-site with our Karl partners, you can choose your preferred payment method. Payment is made either by credit card or bank account via direct debit. Most cards should work, but occasionally a specific credit card might not be accepted by our partner Stripe, who handles the debits. In that case, the premium must be debited from your account to guarantee insurance coverage.

If your card expires, is stolen or lost, your account is not covered, or for any other reason we can't collect the premium, you'll receive an email from us with a unique link where you can change the payment method.

Question 21

What happens if a premium couldn't be debited?

Accepted Answer

If your card expires, is stolen or lost, your account doesn't have sufficient funds, or for any other reason we can't collect the premium, you'll receive an email from us with a unique link where you can change your payment method. If we're able to successfully debit on the next attempt (we always try automatically), you won't receive another email. If it still doesn't work, you'll get another email from us.

Question 22

How can I change the payment method?

Accepted Answer

You can change your payment method anytime here. Just like when you signed up on the homepage or with our Karl partners on-site, you can choose between credit card and bank account (direct debit) to pay your premium. Most cards should work, but sometimes a specific credit card might not be accepted by our partner Stripe, who handles the debits. In that case, the premium must be debited from your account to guarantee insurance coverage.

Question 23

Can I withdraw from my contract?

Accepted Answer

Yes. Within 14 days of signing, you can withdraw from your contract without giving a reason, as long as you haven't reported a claim by then, and get a full refund of your premium. You can do this directly in your account here. Select the relevant policy and tap "Withdraw contract". After the 14 days have passed, you can still cancel your contract.

Question 24

How can I cancel my contract with Karl?

Accepted Answer

You can cancel your contract at any time directly in your account here. Select the relevant policy and tap "Cancel insurance policy". Cancellation takes effect at the end of the current insurance period, and you stay covered until then; there is no refund for the current period. Within the first 14 days after signing, you can instead withdraw, as long as you haven't reported a claim by then, and get a full refund of your premium.

Question 25

Is there a deductible with Karl?

Accepted Answer

No. Karl has no deductible.

The maximum you receive in a claim goes down with the years since you bought your bike: in the first year after you bought it 100 %, in the second year 80 % and from the third year 70 % of the sum insured. The limit applies to total and partial damage alike, and up to it we cover every claim in full. If, say, you damage your fork in a fall in the third year after buying your bike, we pay for the whole replacement as long as it stays below 70 % of the sum insured.

Question 26

Can I take the money instead of a new bike?

Accepted Answer

To quickly organize a new bike for you in the event of a claim, we handle the damages directly with our Karl partners, i.e., the dealer where you bought your bicycle or E-Bike. We will always try to get you the same or an equivalent bicycle or E-Bike (you decide if it's equivalent in case of doubt). You can also use the credit you have from the claim with our Karl partner for a new, higher-quality bicycle or E-Bike. You will need to pay the difference for the higher price, and we will cover the rest.

Only in absolute exceptional situations—e.g., because a corresponding bicycle or E-Bike is no longer available—will we pay out the credit to you. At Karl, we want you back in the saddle quickly, so the insurance money should be used for a new bicycle.

Question 27

Can I insure several bikes on one policy?

Accepted Answer

Yes, you can insure multiple bicycles or E-Bikes under a single policy.

Question 28

Can I pay the premium annually, and is it cheaper?

Accepted Answer

Yes! When submitting your application, you can choose between monthly and annual payments. The annual payment is cheaper: you pay for 11 months and receive 12 months of insurance coverage – one whole month is free!

Depending on your payment method, we will deduct the premium from your credit card or bank account. Monthly payments offer you maximum flexibility with the option to cancel daily, while annual payments save you money and reduce administrative hassle.

Question 29

What happens in case of a short circuit, induction, or overvoltage regarding the battery?

Accepted Answer

If your E-Bike breaks down because the technology fails you, you're on the safe side.

Karl also covers your damages here, as long as they are not covered by the manufacturer or caused by wear and tear in terms of aging, wear, corrosion, or rust.

Question 30

Is my bicycle or E-Bike insured on the bike rack on the car?

Accepted Answer

Yes. Damage on the bike rack is covered, even if the bike can't be repaired afterwards. It doesn't matter whether the car is parked outside the supermarket while you shop or overnight in a hotel car park.

Theft there is only covered, though, if you also lock your bike to the rack with a suitable lock, see "Which bike lock is sufficient?".

Question 31

Which bike lock is sufficient?

Accepted Answer

It comes down to the lock's purchase price. Depending on your bike's value, it must be at least:

up to €500 bike value: €29
up to €2,500 bike value: €45
above €2,500 bike value: €69

Simple cable or spiral locks don't count, even if they cost that much. Also look for sturdiness: a good lock can't be cut with simple tools like pliers or wire cutters, only with heavy tools like a bolt cutter or an angle grinder. Sturdy U-locks, folding locks or solid chain locks usually manage that.

The manufacturer's recommended retail price (RRP) also counts as the purchase price, so a lock you got on sale is fine.

Your bike must also always be locked to a fixed object, see "How do I lock my bike correctly?". We also recommend a second lock of a different type for extra theft protection.

Our lock guide shows you which lock suits your bike, with a lock finder and tested models.

Question 32

How do I lock my bike correctly?

Accepted Answer

Always with a suitable lock to a fixed, immovable object such as a bike rack or lamppost, so that your bike can't simply be carried away. This applies everywhere, whether in the basement, the park or outside a café. Otherwise, theft isn't covered.

The lock encloses the frame and ideally also a wheel.
The object is firmly anchored and can't be easily removed or dismantled.

How sturdy the lock must be is explained under "Which bike lock is sufficient?".

Question 33

What should I do if the premium can't be debited?

Accepted Answer

If we can't debit the first monthly premium when signing up on our homepage or at our Karl partners, you won't receive an insurance policy and the insurance won't be activated.

If later on your card expires, is stolen or lost, your account is not covered, or for any other reason we can't collect the premium, you'll receive an email from us with an individual link where you can change the payment method. If we can debit on the next attempt (we always try automatically), you won't receive another email. If it still doesn't work, you'll get another email from us.

Question 34

What are my obligations in the event of a claim?

Accepted Answer

If you have a claim, you must:

report it to us immediately, no later than 72 hours after you become aware of it; the fastest way is the claim form after you log in,
tell us truthfully about the cause and amount of the damage and provide documents about it if we ask,
for a theft, provide a police report, such as a report confirmation,
prove costs for getting home or continuing your journey with invoices or other receipts so we can reimburse you.

If a police report isn't possible or doesn't make sense, for example because your bike was stolen abroad, tell us in your claim report, by form or email. You can send the police report once you're back home.

If you don't meet these obligations, we may reduce or refuse the payout, unless it wasn't your fault.

Question 35

How can I report a claim?

Accepted Answer

After you log in, you'll find the claim form. That's the fastest way for us to help you.

Report every claim to us immediately, no later than 72 hours after you become aware of it.

For a theft, we absolutely need a police report, such as a report confirmation. If that isn't possible or doesn't make sense, for example because your bike was stolen abroad, tell us in your claim report, by form or email. You can send the police report once you're back home.

If you claim costs for getting home or continuing your journey, send us the invoices or other receipts so we can reimburse you.

Question 36

What should I consider when reporting a claim?

Accepted Answer

If you report the claim via our homepage, the claim form will ask you everything we need to know to quickly handle the claim for you. Just upload the documents and you'll be back in the saddle soon. If you prefer to send us an email, you can also provide the information that way. We need complete (as long as necessary, as short as possible) details about the claim. What happened, when, and where? Additionally, if possible, please provide an initial assessment of whether a repair is sensible and if you've already obtained a cost estimate.

To process a theft claim for you, we need a police theft report and notification to us within 72 hours. If your bicycle or E-Bike is stolen abroad, it can be difficult to get a police report. If that's not possible or doesn't seem sensible, it's enough to report it to us by email and then provide the theft report once you're back home. If you're claiming costs for the return/continuation of your journey, you must prove the incurred costs with an invoice or other receipts so we can reimburse you.

Question 37

How long until I hear from Karl?

Accepted Answer

If you reported the claim through our homepage, you'll immediately receive confirmation from us that the claim has been reported and that we are handling the process. Since every claim is unique, we will tailor our claims handling to your specific needs and do our best to get you back in the saddle quickly. In collaboration with our Karl partners, we usually resolve claims within a day, so you can immediately get a new bike or E-Bike, or order the repair of damaged parts.

Question 38

How is my claim paid out?

Accepted Answer

If your bike is lost or damaged, we ensure you get back in the saddle quickly. You either receive a new bike or E-Bike, or you can have it repaired, and we handle everything directly with our Karl partner. You get a new or repaired bike or E-Bike, and Karl pays the bill to the dealer.

In the event of a total loss, you have 100% of the insured value in the policy available as credit in the first year after buying your bike, 80% in the second year, and 70% from the third year onwards.

These limits apply to repairs just as much as to a total loss: in the first year after purchase we cover repairs and total loss up to the full sum insured, in the second year at most 80% and from the third year at most 70% of the sum insured. If, for example, you need a new fork after a fall in the third year after purchase, we pay up to 70% of the sum insured.

Question 39

Who decides if it will be repaired or replaced?

Accepted Answer

Karl will either reimburse you the agreed insurance amount (in case of theft or total loss) or the repair costs, if a repair is possible and reasonable, but not exceeding the agreed insured value in the policy. The payout always goes directly to the Karl partner, who will provide you with a new equivalent bike or E-Bike, or carry out the repair. The decision on how we compensate you for the claim is up to us, but we ensure that you receive an equivalent item.

In the event of a total loss, you have 100% of the insured value in the policy available as credit in the first year after buying your bike, 80% in the second year, and 70% from the third year onwards.

These limits apply to repairs just as much as to a total loss: in the first year after purchase we cover repairs and total loss up to the full sum insured, in the second year at most 80% and from the third year at most 70% of the sum insured. If, for example, you need a new fork after a fall in the third year after purchase, we pay up to 70% of the sum insured.

Question 40

What happens if the repair exceeds the insured value?

Accepted Answer

You can either cover the additional costs yourself (Karl will then pay you the part of the bill covered by the insurance amount. There is no underinsurance), or Karl will replace your bike or E-Bike with one that matches the type and condition of the undamaged insured item and the insurance amount.

You have 100% of the insured value in the policy available as credit in the first year after buying your bike, 80% in the second year, and 70% in the third year.

These limits apply to repairs just as much as to a total loss: in the first year after purchase we cover repairs and total loss up to the full sum insured, in the second year at most 80% and from the third year at most 70% of the sum insured. If, for example, you need a new fork after a fall in the third year after purchase, we pay up to 70% of the sum insured.

Question 41

How can I be sure I'll be satisfied with the repair or replacement result?

Accepted Answer

In the event of a claim, Karl will replace the item with one that matches the type and condition of the undamaged insured item ("natural replacement") or cover the repair costs. We ensure that the repaired or replaced item comes as close as possible to the undamaged condition in terms of state and quality. You have the opportunity to inspect and approve the repair or replacement item before we close the claim.

Question 42

What happens to my bike or E-Bike in the event of a total loss?

Accepted Answer

Once Karl has reimbursed you the insured value according to the policy, the damaged bike or E-Bike belongs to the insurance. You must generally make the bike or E-Bike available to us. We will resolve this with you in the event of a claim without making the situation worse for you. Legally, we just need to inform you 😊 If your bike or E-Bike was stolen, this obligation naturally does not apply. However, if your stolen bike or E-Bike reappears, we ask you to inform us. It then belongs to the insurance.

Question 43

Will my premium increase after a claim?

Accepted Answer

We will not automatically increase your premium after a reported and processed claim. However, your claims history will be considered when it comes to continuing to insure your bike or E-Bike with Karl. We will review this on a case-by-case basis, and there are no "automatic adjustments."

If your bike or E-Bike is permanently lost or destroyed, the insurance contract automatically expires, as there is nothing left to insure. Of course, you can take out insurance with Karl again for your replacement bike or E-Bike.

Question 44

How do I prove my bike was locked if the thief takes the lock too?

Accepted Answer

Of course, we cannot verify if your bike was secured with an adequate lock. In this case, we trust that you act according to our contract conditions and that your statements are truthful.

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