An Ontario senior whose $4,000 e-bike was recently stolen says his insurance policy only covered a quarter of its value.
Bicycle thefts soar in the summer months and now many bikes, especially e-bikes, can easily cost $1,000 or more.
The e-bike was in his apartment complex's garage, locked onto a bike rack attached to his car, when it was taken.Derry had tenant insurance so he knew his bike was covered, but he was shocked to find out even though he paid $4,000 for his e-bike his coverage was limited to $1,000. Thomas said many people don't realize there are also limitations for cash you have in your home in the event of a robbery or a fire.
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