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Keep on Rolling With Velocare’s Extended Warranty Plans for Bicycles

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Velosurance-title-shot

Allow me to pull on my plaid tweed jacket and dust off the elbow patches, because today we’re going to talk about extended warranty plans! All kidding aside, Velocare is an extended warranty program for cyclists providing complete coverage on components that fail under normal riding circumstances for up to five years.

If you rely on your bicycle to commute, it’s equally important to you as cars are to motorists. As we all know, bikes can require pricey repairs too and not everyone can shell out for, say, a fork replacement on the spot. MTB riders might like knowing if they blow up a wheel right before a weekend ride or race, they can repair or replace it without hesitation. Velocare assures you that if your bike breaks down, one of their dealers will fix it up with no out-of-pocket expenses for you to deal with.

Click below the break for the fine print…

Velosurance parts coverage graphic

The first thing to make abundantly clear is that Velocare is not bicycle theft insurance, but rather an extended warranty plan. It is intended to go beyond your manufacturer’s warranty to cover repair costs for parts that fail under normal use, something the manufacturer doesn’t typically provide. If your bike breaks down, simply bring it to a Velocare dealer and they will replace or repair the damaged components and send you on your way. There are no deductibles or hidden costs to hassle with, just pick up your bike and get back to daily life.

Covered components include the drivetrain, brakes, suspension, seat and post, steering components, shifter/brake cables, wheels, pedals, and bottom bracket. Parts that are considered normal wear and tear items include brake pads, tires and tubes, or any kind of batteries. The frame itself, damage caused by accidents and any maintenance services are not covered by Velocare.

In their own terms, they state:
* Velocare covers various bicycle components and accessories attached to the bicycle frame, at the time of sale, for failure through normal recreational riding
** Parts failure does not cover regular maintenance, brake pads, tires & tubes, or batteries.

Velosurance plan pricesThe words ‘at the time of sale’ do specify that any upgraded components are not covered, which is something to consider as most cyclists tend to personalize their cockpit at the least. Thankfully their definition of  ‘normal recreational riding’ includes everything from downhill to road cycling, and only excludes professional or commercial uses.

The plan pricing varies according to the retail price of your bike and how long you want it covered, with options for three or five years of coverage beyond your manufacturer’s warranty. Velocare can be purchased at participating retailers, and you can have a bike that was bought from a non-Velocare dealer covered, as long as you start within 30 days of the purchase date.

Velocare currently has about 1400 partner shops and is encouraging more shops across the USA to take on the program, which they say builds loyalty. If a customer has purchased a bike and Velocare from a shop, they will inevitably return in the future to have repair services done at no charge to them- but the shop still sells parts and bills out their time to Velocare at a labour rate of $60 an hour and MSRP -15% on parts. For more info or to register to become a dealer, visit Velocare’s website.

 

velocare.net

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James S
James S
8 years ago

Yet another solution to a problem that doesn’t exist. This is just like extended warranties they try to sell you on electronic items – you buy “peace of mind” while they pocket the extra money. Bikes are simple and relatively inexpensive and a decent quality bike just doesn’t have the kinds of problems that would warrant such a thing (pun intended).

Mike A
Mike A
8 years ago

I would argue the opposite. This is a solution to a problem with only one winner, Velocare.
I can easily ruin $275 of equipment in a season. That’s a lot of contract work for a mechanic who probably isn’t going to be paid a fair hourly wage, considering cost of components and labor.

What?
What?
8 years ago

Mike A. – Don’t think you get it. No parts are covered for you ruining them, only for normal wear and tear. What that means is nothing is covered and will turn into a shop VS customer battle hurting the bike business. In 20 years as a mechanic I have seen zero faulty bike parts that would be covered with this policy.

Mike A
Mike A
8 years ago

@What?

In their own terms, they state:
* Velocare covers various bicycle components and accessories attached to the bicycle frame, at the time of sale, for failure through normal recreational riding
** Parts failure does not cover regular maintenance, brake pads, tires & tubes, or batteries.

I guessed I missed something…
Or not.
My point still stands.
Anyone who is a daily rider/high mileage commuter/courier could use this plan on a mid level bike and as cheap components wear-out and break they get replaced, whereas said customer would probably upgrade. It means lots of shops are going to miss out on upgrade sales. I could easily use this to make the effective life of a commuter/work bike double

While I didn’t see the statement at the very bottom(Sorry it was late) saying that they will still pay standard shop rate, I still don’t see this as much different than free lifetime tune-ups and other gimmicky ways to get customers buck through the door.

chuck
chuck
8 years ago

So you’re telling me that for $275 any/all chains, cassettes, chainrings, and cables I may need for 5 years are covered, AND I don’t have to do the labor? But I guess I’d have to wait until the chain fails to get a replacement. While on a big ride, hours from home, in the middle of nowhere…

Paul Blelloch
Paul Blelloch
5 years ago

According to the bike shop that I just purchased from (Trek) you can bring in a bike as often as you’d like and they’ll replace anything that’s worn, including chains, cassettes, chainrings, and cables. I haven’t signed up yet, but am considering it. A couple of cassettes and a handful of chains in five years would cover it.

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