An Estonian startup offers insurance for lightweight vehicle users

As the number of accidents involving electric scooters and bicycles has increased in Estonia, an Estonian startup called Cachet has launched a “city rider insurance”.

According to the startup, in the last few years, the number of lightweight vehicles and their users in Estonian cities has tripled. “In parallel, the number of accidents involving those vehicles has also grown,” the company said in a statement.

“Accidents happen. There will be parties that get hurt. But what is missing today in Estonia is a form of insurance which in case of an accident would cover the cost of repairs for damage done to third party property or medical costs in case of an injury,” the co-founder and CEO of Cachet, Hedi Mardisoo, said in a statement, adding that 378 accidents that involved bicycles or electric scooters, have been recorded in Estonia so far this year.

Cachet offers “city rider insurance”, meant for those who actively use light electric vehicles such as electric scooters or bicycles to move around the city.

The company also offers light electric vehicle gig-workers an insurance package called “delivery rider insurance” – for those whose main mode of transport while earning their daily bread is a bicycle, electric scooter, scooter or electric bike.

The Cachet’s insurance helps compensate for damages if a person is injured in a fall with a light electric vehicle and helps pay bills for treatment or physiotherapy. The insurance also indemnifies for damage caused to others by a person while driving a light electric vehicle.

Cover: Cachet team in Tallinn’s Telliskivi Creative City.

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