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 signing up, 80% in the second year, and 70% in the third year.

This only applies to total loss cases. If, for example, you damage your fork in a fall in the third year and it needs to be replaced, you will receive the full value. The same applies to all partial damages. Up to the maximum amount (depending on the year the damage occurs, i.e., 100%/80%/70% of the insured value in the policy), all damages are fully covered by Karl.