Electric Bike Insurance Coverage: What You Need To Know

Electric bikes are becoming an increasingly popular mode of transport, but are they covered by insurance? Many people assume that their electric bike will be covered under their standard home insurance policy, but this is not always the case. Electric bikes are often excluded from coverage under standard home insurance policies because they are considered to be motorized vehicles. This means that if your electric bike is stolen or damaged, you may not be able to claim on your insurance. However, there are some insurance companies that do offer standalone electric bike insurance policies, and some that offer electric bike coverage as an addition to an existing home insurance policy.

Standalone electric bike insurance policies

Electric bikes are typically excluded from coverage under standard homeowners, renters or umbrella insurance policies because they are motorised. However, some insurance companies offer standalone electric bicycle coverage similar to motorcycle or car insurance policies, while others may offer electric bicycle coverage as an addition to an existing homeowners or renters policy.

Markel Insurance, for example, has offered a standalone electric bike insurance policy for ten years that insures e-bikes with power assist up to 750 watts, as well as covering theft, damage and more. The cost to insure an electric bike is no different than insuring a pedal-power bike and the Velosurance cyclist policy offers the same coverage to both bike types. A Velosurance e-bike policy is available to cover Class 1, 2, and 3 e-bikes with an all-risk, stated value policy that does not depreciate the bike value no matter when the bike was purchased.

Electric bike insurance as an addition to homeowners or renters insurance

Electric bikes are typically excluded from coverage under standard homeowners or renters insurance policies on the basis that they are motorized. However, some insurance companies offer electric bicycle coverage as an addition to an existing homeowners or renters policy. For example, Markel Insurance policies cover all three classes of electric bicycles. The cost to insure an electric bike is no different than insuring a pedal-power bike and the Velosurance cyclist policy offers the same coverage to both bike types. A Velosurance e-bike policy is available to cover Class 1, 2, and 3 e-bikes with an all-risk, stated-value policy that does not depreciate the bike value no matter when the bike was purchased.

Electric bike insurance as an addition to car insurance

Electric bikes are typically excluded from coverage under standard homeowners, renters or umbrella insurance policies because they are motorised. However, some insurance companies offer electric bicycle coverage as an addition to an existing homeowners or renters policy. For example, Markel Insurance policies cover all three classes of electric bicycles.

The cost to insure an electric bike is no different than insuring a pedal-power bike and the Velosurance cyclist policy offers the same coverage to both bike types. Each policy can be customised by adding additional coverages such as liability protection, uninsured motorist coverage, and medical gap coverage.

If you want to add electric bike insurance to your car insurance, you should check with your insurance company to see if this is possible. If not, you may need to switch to an insurance company that offers this option, such as Markel Insurance or Velosurance.

Electric bike insurance as an addition to motorcycle insurance

Electric bikes are typically excluded from standard homeowners, renters or umbrella insurance policies because they are motorised. However, some insurance companies offer standalone electric bicycle coverage similar to motorcycle or car insurance policies, while others offer electric bicycle coverage as an addition to an existing homeowners or renters policy.

Markel Insurance, for example, has offered a standalone electric bike insurance policy for ten years that insures e-bikes with power assist up to 750 watts, as well as covering theft, damage and more.

Velosurance offers a core policy that includes must-have protection such as accidental damage, theft, or loss in transit. Each policy can be customised by adding additional coverages such as liability protection, uninsured motorist coverage, and medical gap coverage.

If you already have motorcycle insurance, it may be worth contacting your insurance provider to see if they can add electric bike insurance to your existing policy, as some companies offer this.

Electric bike insurance and the cost

Electric bikes are typically excluded from coverage under standard homeowners, renters or umbrella insurance policies because they are motorised. However, some insurance companies offer standalone electric bike insurance policies, while others offer electric bike coverage as an add-on to an existing policy.

The cost of insuring an electric bike is no different from insuring a regular bike. The core policy offers protection against accidental damage, theft, or loss in transit. Each policy can be customised by adding additional coverages such as liability protection, uninsured motorist coverage, and medical gap coverage.

Markel Insurance, for example, has offered a standalone electric bike insurance policy for ten years that insures e-bikes with power assist up to 750 watts and covers theft, damage and more. Similarly, Velosurance offers an e-bike policy that covers Class 1, 2, and 3 e-bikes with an all-risk, stated-value policy that does not depreciate the bike value no matter when the bike was purchased.

It is important to note that policies vary by state and insurance regulations, which can also affect the minimum and maximum coverage or limits available. Therefore, it is recommended to check with your insurance provider to understand the specific coverage and cost for insuring your electric bike.

Frequently asked questions