Burglary, housebreaking, theft (excess of 10% of sum insured subject to minimum of AED 250/-)
Riot, Strike and Malicious Damage
Third party personal injury or Third party property damage for AED 50,000/- including legal / defense cost if any arising out of use of Cycle.
Personal Accident coverage up to AED 100,000/- covering Accidental Death and Permanent Total Disability
Including Transit of Cycle (within UAE only) by an appropriate motor vehicle whilst mounted and/or carried securely either inside or outside with specifically fitted / designed roof racks, boot or trunk-mounted racks, and hitch or towbar-mounted racks.
Cover including for accessories mounted on cycle like cycle computer, power meter, pedals etc. subject to declaration with values and premium rate to apply accordingly.
Including cover for Amateur Competitive Events
United Arab Emirates – Driven / Used only on designated areas, tracks and routes authorized by RTA.
Jurisdiction / Law
United Arab Emirates
Clauses / Conditions / Extensions
Settlement of claims on Market Value basis or Sum Insured whichever is less.
Market value can be determined by value of similar new cycle with 10% deprecation for each completed year or part thereof subject to maximum of 50%.
Minimum Age of entry 18 years & Maximum 65 years on the date of inception of the policy.
Warranted that the Pedal cycle should be kept locked and secured in all public places
Warranted that the Pedal cycles are used / driven only on designated areas, tracks and routes as per RTA regulations.
Theft of parts and accessories unless the cycle is stolen at the same time.
Consequential loss, depreciation, wear and tear.
Nuclear risk, War and War like operations
Any bodily injury resulting from or in consequence of under the influence of Alcohol, intoxicating drugs, attempted suicide or self-inflicting injury, pre-existing diseases and Illness occurring within 30 days of the commencement date
Loss or damage or bodily injury whilst participating in Professional Racing Championships / Events
All claims under the policy should be notified immediately to the Company.
In case of Theft of bicycle: Police report, purchase invoice, any other relevant document that may be demanded by the company.
In case of Death /Permanent disability relevant reports to establish the cause and nature of accident.
5% of the claim amount subject to minimum of AED 250/- each and every loss except for Amateur / Competitive Events increasing to a minimum of AED 500/- each and every loss.
Premium Rate / Slabs
Sum Insured Above AED 20,000/- and Up to AED 100,000/- 3% of sum insured subject to minimum of AED 750/- + VAT
Sum Insured Above AED 10,000/- and Up to AED 20,000/- 2.75% of sum insured subject to minimum of AED 500/- + VAT
Sum Insured Above AED 2,000/- and Up to AED 10,000/- 2.5% of sum insured subject to minimum of AED 250/- + VAT
NIL Claims Experience
Schedule of Depreciation
Age of Cycle – Up to 5 years
Less than 6 months – 0%
Less than one year – 10%
More than one year but not exceeding 2 years – 20%
More than 2 years but not exceeding 3 years – 30%
More than 3 years but not exceeding 4 years – 40%
More than 4 years but not exceeding 5 years – 50%
NB. The above schedule of depreciation will also apply for replacement of parts for partial losses.
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