What is the insured value?

The insured value is the value of your bike and the fixed accessories you add to the bike (including the lock, as it is an exception as it is not fixed). Here are some concrete examples of the value you should indicate:

Example 1: I buy a bike for €1000 and a lock for €100 (the lock is on the bike invoice). In order to insure my bike and the lock, the insured value I need to take into account is €1000. The lock is included in the €1000, because it is considered a fixed accessory that costs less than €100 and because it is on the invoice for the bike.

Example 2: I buy a bike for €1000 and then buy a lock for €100. The lock is not on the invoice for the bike. In order to insure my bike and my lock, the insured value that I need to take into account is €1,100. As the lock is not on the invoice for the bike, I must add it to my insured value.

Example 3: I buy a bike for €1000 and insure it for €1000. Later on I add a €50 mudguard to my insured bike and I would like to insure this accessory as well. I need to contact Qover to change my insured value to €1050 and calculate the new price of my insurance.

Example 4: I buy a bike for €1000 and fixed accessories for €250 (all accessories are on the bike invoice). The insured value I need to take into account is €1150 (€1000 + €250 - €100) in order to insure my bike and accessories, because the accessories are on the bike invoice, they are fixed to the bike and €100 of accessories is included in the insurance for free.