Did you get a leased bike through your employer? Here are the fine print in your insurance contract that you must have read | Economy

Guide-savings.beMore than 100,000 Belgians have a leased bicycle through their employer. Does your company provide you with an (electric) bicycle? Is it also linked to an assistance and insurance package in case you are confronted with a technical breakdown or damage? In this case, you have to pay attention to possible ‘grey areas’! Below, Guide-epargne.be explains which fine print you absolutely must have read.

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Companies provide many benefits to their employees. More and more often, this remuneration package also allows you to obtain a leased bicycle. Many employees take advantage of this advantage. More than 100,000 Belgians have already done so. Often this is an e-bike, but speed pedelecs and racing bikes are also popular. In addition, there are cargo bikes for those who also want to transport goods, for example, or folding bikes for those who want to combine their cycling trip with public transport.


Often, the provision of a bicycle is part of the ‘cafeteria plan’, whereby employees exchange, for example, their ’13th month’ for other benefits.

The leasing bicycle is also attractive from a tax point of view. Unlike the company car, employees do not have to include it as a benefit in kind in their tax return. You will not have to pay tax or social charges if you regularly use this bike for your business trips.

In addition, there are a few additional benefits associated with the leasing bike. In general, an assistance and insurance package is also linked to it. Do you have a flat tire or a faulty battery? In this case, you can call on an assistance company. Where did you fall off your bike? In this case, an insurance company will cover the repair costs. Finally, on several occasions, you will be able to have your bike serviced by an authorized repairer.

The fine print

Thanks to all this, cycling employees feel safe. However, they should also read ‘the fine print’. Does assistance and insurance also apply for private employee travel or is it only for business travel? And is this assistance also applicable at home or is it only if the employees are more than 1km from their home? And what about insurance? Does it only cover damage to the bike or also any damage to the helmet and clothing? These can also be damaged in the event of a fall. What if you take this bike on your holiday abroad? Will assistance and insurance still apply? And what about your liability as a cyclist: is that also covered? In the event of a collision, will you be able to rely on the insurance linked to the bicycle leasing or will you have to rely on your own family insurance? Will your bodily injuries be insured in the event of an accident or will you have to insure them separately if you want this coverage?

One last note: just like other products, your bike has a 2-year warranty against technical defects, but the duration of a leasing contract is usually 3 years. What will happen if you encounter problems during the 3rd contract year? A new motor or a new battery will easily cost you 800-900 euros.”

“We analyzed the market,” said managing director Michel Lagasse and marketing director Koen Van Mol of Ubike, which provides lease bikes to businesses with at least 20 employees. Today, Ubike has about 10,000 bicycles in our country. “For full assistance and insurance (also involving cover in our neighboring countries), employees have to pay 2-5 euros per month more than an average policy. Over an average duration of 36 months, this corresponds to an amount between 72 and 180 euros. This will already allow you to recover the additional cost in the event that you are faced with a claim not otherwise covered.

Tip: In general, bicycle leasing is contracted via a company. However, individuals can borrow to buy their bike. Here you will find the banks’ offer for bicycle loans.

Also read on Guide-epargne.be:

What insurance covers accidents involving an electric scooter?

Is it worth taking out a bike loan?

The 0% car loan: is it still the best option you have?

This article was brought to you by our partner Guide-epargne.be. Guide-epargne.be is an independent comparator of banking products, looking for competitive prices and better interest rates.

Source: Guide-savings.be

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