While ebike insurance is not mandatory in the United States, it is highly recommended that you get it. High-quality ebikes can cost you in the thousands; as with any significant investment, you want to make sure that it is protected. Having ebike insurance can help protect you in the case of theft, damage or any other unforeseen circumstances. Here, we list down a few reasons why you should consider ebike insurance, and what you need to know about the insurance you are purchasing.
Ebikes are heavier than regular bikes and travel faster, which means that their demand for liability coverage is higher. If you do not have insurance, you could be held personally liable in the unfortunate case of an accident. Although ebikes are rarely involved in third-party crashes, it’s always best to be prepared. While ebikes make trusty companions on commutes or hikes, it is always prudent to prepare yourself for the worst-case scenario.
Get Insurance Specifically for Ebikes
Other insurance policies offer only limited coverage for ebikes, so you want to be sure that you get insurance specifically for your bike. An ebike is cataloged as a motorized vehicle, so traditional homeowners’ or renters’ policies do not offer full coverage for any liability associated with them. Most auto insurance companies also do not offer coverage – or offer only limited coverage – as ebike riders do not need to possess driver’s licenses, and do not need to be covered by an auto insurance policy.
Ebike Insurance: Affordable and Accessible
Ebike insurance can start at merely $100 annually. This price provides you with deductible choices and a variety of coverage levels. Look for an insurance policy that is customizable, and which is tailored for you and the way you ride. Ebike insurance typically covers vandalism, attempted theft, property damage resulting from a range of causes, and pedestrian collision.
What Should You Consider when Purchasing Ebike Insurance?
- Personal Accident Insurance: If your ebike insurance policy includes a personal accident section, you will likely be provided with a lump sum should you be significantly injured during an accident. This should grant you peace of mind if you are ever involved in such a situation.
- Theft Insurance: Having a theft section in your ebike insurance policy will help ensure that you can claim expenses for a replacement bike should it be stolen. Ebike thefts are unfortunately rather common, although there are a variety of ways that you can optimize the safety of your bike while it is locked.
- Third-Party Liability: If you are involved in an accident during a ride, this insurance covers any damage costs that result from the accident. Given that an ebike is cataloged as a motorized vehicle, third-party liability is something that you should be prepared for, even if ebikes are not often involved in such accidents.
- Accidental or Malicious Damage: Vandalism or accidents can occur at any time, which can leave you having to pay for replacements or repairs. Ensure that your policy covers accidental or malicious damage just in case.