"With Laka we’ve found a partner who will work with (instead of against) us to offer our customers the best possible cargo solution for inner cities"
We can cover your bicycles, e-bikes and e-cargo bike fleets.
For reference we define "bicycle" as any cycle, adult tricycle or tandem powered by human pedalling as shown in Your Policy Schedule.
This includes e-bikes which meet the relevant UK rules for ‘electrically assisted pedal cycles’ (EAPCs).
When you sign up with Laka we'll assign you an account manager to handle your questions. They'll get your cover set up so that it works best for you.
Price matters. But it’s not the only thing you should consider when choosing an insurer for your business.
Here’s some things to look out for when weighing up your insurance options:
Claims volume: Can your insurer manage a higher volume of claims? Fleets often have a high volume of claims which increases operational work for your business. We’re a specialist in commercial bicycle insurance and can handle a high number of claims.
Excess: Do you need to pay an excess when you claim? This can get expensive if you have lots of claims. With Laka the excess is £0.
Changing your fleet: If your fleet is growing or you need to make changes, you’ll need an adaptable partner who can handle this for you. Your Laka Account Manager will be on hand to make your changes in a flash.
Admin fees: Lots of insurers charge an administration fee for making changes to your policy. Make sure you read the fine print! With Laka there’s no admin fees - no chance.
Integration: Can the insurer integrate with your fleet's tech to save time for your business? If you have a large fleet this is a real time-saver. We integrate with the latest fleet management systems to make your life easier.
Customer experience: Service is super important. The way claims are handled has a big impact on your brand and employee experience. Our claims experience is second to none. In fact, we won the Treating Customers Fairly Award at the Insurance Choice Awards.
Vehicles insured as stock: If an insurer considers your fleet stock, you’ll have a cheaper quote, but you’ll likely lack cover. Read our article below for more info.
Insuring stock is cheaper than insuring a fleet.
So if an insurer considers your fleet stock, you’ll have a cheaper quote, but you’ll likely lack cover.
The bigger risks to you - your riders and your fleet need cover that matches their risk. If they’re insured as stock, then theft away from business premises, accidental damage, and emergency expenses are unlikely to be included.
In most cases, no.
Lots of our customers reached out to us because they were new to owning an e-bike fleet. And neither their existing car insurance policy or their business insurance would cover them.
Your business insurance might cover you for bikes kept on your main premises. But you need to think about other depots or hubs where your bikes are sometimes stored over night. And not to forget, these bikes will be out on the streets during the day.
Traditional insurance. A world of misfortune where insurers may be reluctant to pay out claims which eat into their profits.
Laka began in 2017 with the aim of turning this outdated insurance model on its head.
The Laka model aligns the interests of the customer with the insurer. How? Well we only get paid when we settle claims.
This is how it works:
1. You ask us to insure your bike
2. Claims come in from our customers and Laka settles as many as possible
3. Laka collects the money for all paid claims from our customers plus a 25% fee on top - the 25% is what keeps our wheels spinning!
We’re an MGA - a Managing General Agent. This means we’re a distributor of insurance.
We do everything an insurer does including pricing, settling claims, taking payments, and managing customers.
Our underwriters - Zurich in the UK, and NN in the EU - underwrite the insurance we offer.
We guarantee that your payments will never exceed a given amount - that is what we call your max cap. So, even if claims in a month have been exceptionally high, you’re protected from that risk.
No, that’s where Zurich steps in to provide cover for everything above and beyond that point.