What happens if the repair exceeds the insured value?

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.