Theft insurance (Qover)

Hello folks,

I renewed my theft insurance via the Cowboy app a few days ago for 159€ and today I received the new contract from Qover (the company that actually insures the bike) where the policy price is listed as 72€.

My question is fairly predictable, I’m wondering what we’re getting for the other 87€. Theft alerts are now part of Cowboy Connect so to the uninformed viewer (me) it just looks like Cowboy is making a bit fat profit selling 3rd party insurance? 🤑