Electric Bike Insurance: Who Offers Coverage?

Electric bikes are becoming increasingly popular, but they also come with certain risks. As they are more expensive than traditional bicycles, theft, accidents and liability issues are major concerns. Some states now require insurance, so it's important to know which companies offer the best electric bike insurance policies.

Electric bike insurance companies in the US

Electric bikes are becoming increasingly popular in the US, and with that, the need for specialised insurance is becoming more apparent. While insurance for electric bicycles isn't mandated by law in most states, carrying an insurance policy specific to your e-bike can be critical if you cause an accident while riding and are financially responsible for injuries and damages.

There are several insurance companies in the US that offer electric bike insurance, including:

• Velosurance: Founded by cyclists, Velosurance offers highly customisable policies that are specific to a rider's needs. Their policies cover all Class 1, 2, and 3 e-bikes capable of a maximum top speed of 28 MPH. They also offer worldwide coverage as an option. One of the standout features of Velosurance is that they do not depreciate your e-bike, so in case of a total loss, you can get a bike of similar value.
• Progressive: Progressive offers affordable and customisable electric bike insurance for class one, class two, and class three e-bikes. Their policies can be tailored to your individual needs and provide protection for you and your e-bike.
• Markel and Spoke: These companies are mentioned as top providers of electric bike insurance in the US, offering coverage options, services, and policies to protect your e-bike from theft, damage, and liability.

It is important to note that the availability and specifics of electric bike insurance can vary by state and insurance provider. It is always a good idea to research and compare different insurance companies to find the coverage that best suits your needs and the requirements of your state.

Electric bike insurance in the UK

In the UK, there is no legal requirement to purchase insurance for electric bikes, either in terms of protection for the bike itself or liability. However, theft is a real risk for e-bikes, given their high value and desirability. Damage is another potential cost, whether from accidents, vandalism, or mishaps. Comprehensive electric bike insurance can cover these risks, offering peace of mind and quick resolution.

If you are involved in an accident that causes injury to someone else or damage to their property, liability coverage can be invaluable, covering legal fees and compensation and protecting you financially. Specific prices for e-bike insurance in the UK can vary based on factors such as the make and model of your bike, your location, and the level of coverage you choose.

Some cycling club memberships, such as British Cycling and Cycling UK, will cover e-bikes. If you are not a member of any club, it is essential to ensure you have adequate protection. It is recommended to have a full understanding of what an electric bicycle is and the specific terminology and considerations when purchasing e-bike insurance.

Electric bike insurance policies

Electric bikes are becoming increasingly popular, but they also come with certain risks. Theft, accidents, and liability issues are major concerns, especially given the higher cost of electric bikes compared to traditional bicycles. Therefore, it is important to have the right insurance policy in place to protect your investment.

There are a number of companies that offer electric bike insurance policies, including Markel, Velosurance, and Spoke. These companies offer a range of coverage options, such as theft, accidental damage, and liability protection.

Markel, for example, offers a stand-alone e-bike insurance policy that covers e-bikes with power assist up to 750 watts and speeds up to 28 mph. Their policies start at $100 per year and offer a variety of coverage levels and deductible options. Markel's policies are known for their flexibility and extensive coverage options, including theft, accidental damage, and liability coverage.

Velosurance is another leading name in specialized bicycle insurance, including electric bikes. They offer flexible and comprehensive policies that allow policyholders to customize coverage based on their individual needs. Their worldwide theft coverage is also unique among many insurers. Velosurance policies insure against accidental damage to the bike, and offer optional liability coverage to defend the rider against injury or damage claims.

When choosing an electric bike insurance policy, it is important to consider your specific needs and riding style. Compare the coverage options and deductible amounts offered by different insurers to find the best fit for you.

Electric bike insurance coverage

Electric bikes are becoming increasingly popular, but they also come with certain risks. Theft, accidents, and liability issues are major concerns, especially given the higher cost of electric bikes compared to traditional bicycles. As a result, some states now require insurance for e-bikes, making it a must-have for responsible riders.

There are several companies that offer electric bike insurance coverage, including Markel, Velosurance, and Spoke. Markel offers a stand-alone e-bike insurance policy that insures e-bikes with power assist up to 750 watts and speeds up to 28 mph. Their policies start at $100 per year and offer a variety of coverage levels and deductible options. Markel's electric bicycle coverage protects the e-bike from theft, damage, and more. Coverages include protection for damage caused by theft, crash, collision, fire, attempted theft, vandalism, or hitting another object.

Velosurance is another leading name in specialized bicycle insurance, including electric bikes. They offer flexible and comprehensive coverage, allowing policyholders to customize their coverage based on their individual needs. Their policies cover everything from theft to race accidents, and they also offer worldwide theft coverage, which is unique among many insurers.

Spoke is another company that offers electric bike insurance, although there is limited information available about their specific coverage options.

When considering electric bike insurance, it is important to review the coverage options and services offered by each provider to ensure that your needs are met.

Electric bike insurance costs

Velosurance is a leading name in specialised bicycle insurance, including electric bikes. They offer flexible and comprehensive coverage, allowing policyholders to customise their coverage based on their individual needs. Velosurance stands out for its worldwide theft coverage, which is unique among many insurers. Their policies cover everything from theft to race accidents, and they allow riders to choose a specific deductible and offer up to full replacement value coverage.

Markel is another well-established insurance company that has been in business for over 80 years. They provide specialised insurance products for niche markets and have become a top provider of customisable insurance solutions for electric bike owners in the U.S. Markel's e-bike insurance policies are known for their flexibility and extensive coverage options, including theft, accidental damage, and damage caused by crashes, collisions, or falls. Their policies start at $100 per year and offer a variety of coverage levels and deductible options.

Spoke is another provider of electric bike insurance, although less information is available about their specific offerings.

When considering electric bike insurance costs, it's important to keep in mind that home and renters insurance policies typically do not provide specific coverage for electric bikes, and many of them exclude coverage altogether if the bike has an electric motor. Therefore, it's essential to opt for specialised electric bike insurance to ensure adequate protection.

Frequently asked questions