How much will I get paid in case of a total loss?
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When the insured bike is deemed a total loss, the reimbursement is conditioned on the premium being fully earned by the insurance company. That is, “paid in full” before reimbursement.
This means that if the annual premium is paid in full and the bike is a total loss, the policy will be canceled with no refund of the premium. The net claim payout you will receive will equal the declared value of the bike, minus the deductible. In the case where the premium is made in partial payments, the remaining balance of the annual premium must be paid before you are reimbursed for your loss. Once we receive the remaining premium, you will be paid the declared value of your bike minus the deductible.
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