40% lower discount rates for Comodule-connected e-bikes in Germany
The average price of an e-bike sold in Germany already exceeds €2800, and it is projected that e-bike sales will surpass traditional pedal cycles for the first time in 2023. When purchasing a new e-bike, more than 60% of consumers prioritize additional safety measures such as vehicle tracking, smart locks, and movement alerts to enhance their sense of security. But what else is there?
Insurance plays an important role in lowering the damages in case of theft. Currently, 73% of e-bike insurance policies are purchased together with the e-bike, with little or no differentiation between connected e-bikes equipped with digital safety features and those without. Comodule is working to make insurance more affordable for its connected e-bikes and has published the first insurance offering for the German market.
“Digital security features have already proven effective in reducing the number of missing bikes and increasing the retrieval rate of lost bikes. However, seamless and affordable insurance has always been the ultimate goal and an essential part of increasing safety for e-bike owners.”
Comodule has partnered with nexsurance to offer a 40% discount on e-bike insurance for all Comodule-equipped e-bikes in Germany. This policy includes protection against theft, robbery, looting, burglary, theft of parts, as well as coverage for bike accessories and luggage up to a total value of EUR 1,000. With no deductible and compensation at the new value, policyholders can enjoy peace of mind knowing their bikes are protected 24/7 worldwide.
Discounted insurance rates make IoT technology more attractive to e-bike manufacturers as well. The savings from reduced insurance costs can be used to significantly reduce the expense of connectivity. This collaboration aims to mitigate the risks associated with e-bike theft by combining insurance with anti-theft features enabled by connectivity.
“nexsurance’s focus is on offering risk-mitigating products such as insurance or IoT devices, services, and bundles. As such, the company is pleased to offer a discounted bundle product that combines Comodule-connected e-bikes with nexsurance bike insurance. With Comodule’s IoT technology, the insurance rates can be reduced by 40%.”
All e-bikes in Germany connected by Comodule technology are eligible for the discount. Bike owners will need to select "Comodule Connectivity" on nexsurance's website to redeem their discount on insurance rates. The contract can be signed fully digitally.
Comodule will continue to work on innovative e-bike safety packages that benefit e-bike manufacturers and riders. They will also focus on bringing this offer to other markets and improving e-bike safety packages.
