Does Laka cover second-hand or vintage bikes?
Absolutely. Whether you’ve picked up a pre-loved carbon racer or you’re riding a steel-framed vintage classic, we are more than happy to welcome your bike into the Collective.
How to value your gear
To keep things fair for the collective, we operate on a "new for old" basis. When adding your bike to your gear list, you must use the replacement value "as new" rather than the price you paid for it second-hand.
This ensures that, in the event of a claim, you have enough cover to get back on the road with an equivalent new model.
A note on Underinsurance
It is vital that your insured value reflects the current retail cost of a new replacement. If you insure your bike for less than this amount, you aren't paying your fair share into the collective. In these cases, we may have to proportionately reduce your claim settlement to reflect that underinsurance.
Proving it's yours
Because second-hand and vintage bikes often don't come with a standard retail receipt, Proof of Ownership is extra important. We need you to show us what you've got!
When adding the bike to your policy, please upload clear photographs that show:
The make and model.
The current condition of the gear.
Any screenshots of the bank transaction for purchasing the bike, or a conversation with the seller