Theft Protection Plan Terms and Conditions

1. Definition of Theft Protection Plan

The Theft Protection Plan (the "Plan") is a warranty program provided by Ride Recover ("we," "us," or "our") designed to offer customers protection against theft of their eligible bike product (the "Bike"), subject to the terms and conditions outlined below. The Plan is a warranty, not an insurance policy, and provides coverage solely for the replacement of the Bike in the event of theft, as described herein. This warranty coverage is limited to the specific product purchased under this Plan and is not transferable.

2. No Insurance Coverage

The Theft Protection Plan is not an insurance policy, nor is it governed by insurance laws or regulations. By purchasing this Plan, the customer acknowledges that they are purchasing warranty coverage, not an insurance product, and agree that Ride Recover does not assume liability for any loss or damage beyond the replacement of the Bike, as specified in this Plan. The Plan does not provide financial indemnification, compensation, or reimbursement in the same manner that an insurance policy would.

3. Eligibility Requirements

To qualify for the Theft Protection Plan, the customer must:

Register the bike before theft in order activate the coverage.

Keep proof of purchase and other relevant documentation required for a claim.

4. Coverage and Claims Process

In the event of theft of an eligible bike, the customer must:

Report the theft to local law enforcement authorities within [48] hours of the theft and obtain a police report.

Notify Ride Recover of the theft within [7] days of the occurrence and provide a copy of the police report and any other requested documentation.

Comply with all reasonable requests for evidence and documentation required to process the claim.

Once all required information is submitted and the claim is approved, Ride Recover will replace the stolen bike with a comparable product, subject to availability and the specific terms of this Plan. The customer is responsible for any shipping or handling fees associated with the replacement, if applicable.

5. Exclusions

The Theft Protection Plan does not cover the following:

Theft resulting from negligence or failure to take reasonable precautions to secure the bike.

Theft that occurs in situations where the bike was not locked or properly secured using recommended security devices.

Theft occurring due to fraudulent claims or misrepresentation.

Bikes that have been altered, damaged, or modified in a manner not authorized by Ride Recover.

Losses or damages that result from causes other than theft, such as vandalism, fire, natural disasters, or accidents.

6. Limitations of Liability

By purchasing this Plan, the customer agrees that Ride Recover's liability is strictly limited to the replacement of the stolen bike, as outlined in the terms of this Plan. Ride Recover is not liable for any indirect, consequential, or incidental damages arising from theft, including, but not limited to, loss of use, inconvenience, or financial loss due to the unavailability of a replacement bike.

7. No Subrogation Rights

Customers acknowledge and agree that by entering into this Theft Protection Plan, they waive any subrogation rights against Ride Recover. This means that customers may not seek reimbursement from Ride Recover for any losses beyond the replacement terms of this Plan, and any rights to recover damages from other parties are retained by the customer.

8. Fraudulent Claims

Any claims found to be fraudulent, false, or misleading will result in immediate termination of the Plan and may result in legal action. Customers are required to provide accurate and truthful information when submitting a claim, and failure to do so may void the Plan and result in the denial of any claim. If customers are found to be fraudulent, false, or misleading, before bike replacement we have the right to refuse service.

9. Modification of the Plan

Ride Recover reserves the right to modify the terms of this Theft Protection Plan at any time. Any modifications will be communicated to the customer in writing or via email, and any changes will apply to claims made after the modification date. Customers will have the opportunity to accept or decline any modifications to the Plan.

10. Customer Responsibility for Insurance

This Plan is not intended to replace or serve as primary insurance. Customers are responsible for obtaining their own insurance coverage for their bike if they desire broader protection against theft, damage, or other risks. This Plan only covers theft-related incidents as described above and does not address other potential risks.

11. No Liability Under Insurance Laws

The Theft Protection Plan is not an insurance policy, and Ride Recover is not an insurance provider. The Plan is a warranty that applies only to theft-related incidents involving the Bike purchased by the customer and does not operate under insurance laws or regulations. The customer acknowledges that they do not have any rights to claim reimbursement for damages or losses other than those specifically covered under the terms of this Plan.

12. Governing Law and Dispute Resolution

This Theft Protection Plan is governed by the laws of Illinois. Any disputes arising under or related to this Plan will be resolved through mediation in accordance with the rules of the jurisdiction Illinois where Ride Recover is incorporated.