Oyster's Exciting Journey: Expanding Our Bike Insurance in 2023

Oyster's Exciting Journey: Expanding Our Bike Insurance in 2023

November 28, 2023

As we approach the end of 2023, we at Oyster are excited to share our incredible journey in expanding our bike insurance services.

Our Year of Remarkable Growth

As we approach the end of 2023, we at Oyster are excited to share our incredible journey in expanding our bike insurance services. From under 30 brands insured at the beginning of the year, we are now on track to insure over 200 bike brands by year-end. This sevenfold increase is not just a number; it's a testament to our commitment and hard work in understanding and catering to the diverse needs of cyclists.

Top Bike Brands

We're proud to highlight ten brands that are customer favorites in our insurance portfolio:

  • Aventon: Our partnership with Aventon marks a significant achievement, placing them at the forefront of our list.
  • Heybike: Renowned for their user-friendly e-bikes, they offer an excellent balance of performance and affordability.
  • Himiway: Their innovative designs appeal to a broad spectrum of cyclists.
  • Lectric: Their chic electric bikes have won over many of our clients.
  • Tern: Popular for their versatile folding bikes, a favorite among urban commuters.
  • Gazelle: Known for their sturdy electric bikes, they're a top choice for durability.
  • Rad Power: Preferred for their high-performance electric bikes.
  • Specialized: This brand has a strong connection with professional cyclists.
  • Ride1Up: Distinguished for their efficient and eco-friendly electric bikes, attracting environmentally conscious riders.
  • Trek: These brands are celebrated for their continual innovation and quality.

The Range of Bikes We Insure

Our insurance coverage extends from budget-friendly bicycles, such as the $300 Huffy Casoria, to premium models like the Riese and Müller Load 75, with coverage reaching up to $15,000, including accessories.

The Aventon Level 2 stands out as the most popular bike among our insured models, underscoring its reputation as a favored commuter bike. This trend highlights the rising significance of e-bikes as a mode of transportation. We anticipate this shift towards e-bikes will continue as more areas become increasingly bike-friendly.

Importance of Comprehensive Bike Insurance

While insuring a bike as affordable as the $300 Huffy Casoria may seem less important, we at Oyster believe in the broader implications of bike insurance, outside of theft and crash damage.

We offer extensive coverage options, including liability coverage up to $300,000, medical payments up to $10,000, and vehicle contact protection up to $25,000. This comprehensive approach is essential for safeguarding both cyclists and others in various scenarios.

Tellingly, a significant portion of our customers, about one-third, opt for these additional coverages. This reflects a growing understanding of the importance of full coverage, emphasizing that bike insurance is not just about the bike but encompasses overall cyclist safety and responsibility.

Final Thoughts

As we conclude an extraordinary year, we're thankful for the trust and support from our community. We look forward to maintaining our momentum, fostering new partnerships, and continuing to provide superior insurance services to cyclists.

For Bike Brands & Retailers: Join our expanding network of hundreds of merchants and be part of our journey in revolutionizing bike insurance.

For Cyclists: Explore our tailored insurance options and ride with confidence, knowing you're fully protected by Oyster.

Here's to a future filled with growth, partnerships, and safe cycling adventures, all secured by Oyster!

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