David M.
Don't count on this insurance for theft.
I had signed up for velosurance for my Radmini 4. Turns out that after questioning the wording in the policy around bike theft, my bike is not covered. Had I not questioned the policy I would have been out 1600.00 if the bike was stolen. It's pretty weak insurance that doesn't protect against theft of bike locked to the back of my Jeep’s spare tire and hitch rack with a Pewag 12mm Security Chain and a Abloy PL350 padlock which sits in a secured parking garage where only someone with a key can enter the garage and there's a camera right beside the Jeep. I am not sure how much more secure I could make it.
Response from VelosuranceDec 14, 2020
Velosurance does cover theft from a car’s bike rack as long as the bike is secured. Considering that a public garage is the second most popular place for bike theft, trailing only behind unlocked bikes left on the street, we recommended that the customer keeps his folding bike inside his Jeep when at the place of residence. He misinterpreted our response as denial of coverage, cancelled the policy and immediately started a social media smear campaign.