E-scooters: Repair costs now covered as well as third-party liability
Five questions for Patrick Döring, Sales Director of WERTGARANTIE.6 Dec. 2019
WERTGARANTIE expands its business operations and now insures electric scooters
The Hannover-based insurer WERTGARANTIE sells policies for smartphones, domestic appliances and e-bikes among other devices and items. And now that electric scooters have been approved for road use, a new market has opened up for WERTGARANTIE. The specialist insurer now offers policies covering the cost of repairs to e-scooters, as well as providing statutory third-party liability cover. The company will be exhibiting for the first time at the micromobility expo in May of 2020.
Mr. Döring, what is WERTGARANTIE’s USP?
WERTGARANTIE is a specialist insurer for electronic devices, e-bikes, traditional bicycles, and building utility installations. We market warranty services and accident and breakdown cover that go far beyond the minimum statutory guarantees. Our insurance products are generally sold through specialized dealerships. At the heart of our business model at WERTGARANTIE is the basic principle: “Don’t throw it away – repair it.” This is not just a slogan dreamt up by the marketing department; it’s what we do every day. Our repair quota for faulty appliances is now 72 percent. By promoting the repair option, we are extending the life of products and thereby contributing, together with our partners in the trade, to a more sustainable lifestyle.
You also insure e-scooters. Why?
Since we started up in 1963, our business has operated on the principle that we must not rest on our laurels, but must make the most of the opportunities created by new products and markets. So, for example, we were the first mover when it came to insuring e-bikes. By encouraging the use of bikes – and promoting electromobility now – we are helping to reduce pollution and create a greener transport system. We also like to encourage our employees to make their daily commute as carbon-neutral as possible – whether that means cycling to work, or travelling by public transport and perhaps using an e-scooter. So I am very pleased that we are getting into this new market, and look forward with confidence to the future, mindful of our business credo: we may be a niche insurer, but within our niche we are a big player.
So what kind of package do you offer?
The WERTGARANTIE comprehensive e-policy covers electric scooters not just for the cost of repairs following an accident or fall, but also for costs resulting from wear and tear or theft.
We also offer optional third-party cover that insures the e-scooter rider against property damage and personal injury for which he or she is responsible, and against damage that occurs without the direct involvement or fault of the e-scooter. This coverage is, of course, a legal requirement for use on public roads.
What are you hoping to gain by exhibiting at the micromobility expo?
The combination of exhibition and conference gives us ideal opportunities to cultivate existing contacts and develop new contacts. The broad spectrum of participants, which includes manufacturers, dealers, local government bodies and service providers like ourselves, promises plenty of scope for useful discussions at every level. We look forward to talking with visiting industry professionals and with end customers.
Can you please tell us what you will be showcasing at your stand?
Well, for one thing, we’ll be showing people how easy it is to get into micromobility. Customers who take out our comprehensive e-policy with the third-party liability option when they purchase an e-scooter from a dealer have already more than satisfied the requirements for using the vehicle on public roads. And the best thing is that they don’t have to worry any more about unforeseen costs.
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