E-Bike Insurance: How To Get Your Electric Bike Covered
Electric bicycle (eBike) insurance covers losses and damages to your eBike, including theft, vandalism, collisions, fire and more. Homeowners or renters insurance may cover your eBikes but may apply a sublimit that would not cover its full value if stolen or damaged.
To ensure you have adequate coverage, eBike riders can add scheduled property coverage to their homeowners or renters insurance policy (additional cost) or purchase a standalone eBike insurance policy starting as low as $100 per year.
What is eBike Insurance?
eBike insurance provides coverage for an electric bicycle equipped with a motor up to 750 watts if it is stolen or damaged in a crash, by fire, vandalism and more. Some policies may include additional coverage for eBike accessories and gear, roadside assistance and when the other person is responsible for an accident but does not have insurance.
eBike owners can purchase coverage from companies that specialize in insuring bicycles and eBikes. Coverage may also extend to eBikes in a standard renters or homeowners policy but is usually limited. eBike owners may want to purchase additional coverage via a scheduled property endorsement for adequate protection.
Types of eBike Insurance Policies
Coverage for your electric bicycle is generally available from eBike insurance companies or as an endorsement to your homeowners or renters policy.
Electric Bike Insurance Policy
Some companies that specifically insure traditional bicycles, like Velosurance and Simple Bike Insurance, have expanded their coverage to electric bicycles with motors up to 750 watts. eBike policies often carry unique perks attractive to electric bike riders, such as:
- Worldwide coverage: Your electric bike is covered while in transit and during your state in a different country.
- Taxi fare reimbursement: If you lost your ride because your eBike was damaged or stolen, your policy may reimburse you for taxi fare to the nearest transport station, repair shop or your home.
- Uninsured motorist contact protection: If you’re involved in a hit-and-run or the at-fault driver did not have insurance or limited coverage, uninsured motorist contact protection can cover your medical expenses and damages.
Scheduled Property Coverage
Scheduled property coverage is a purchasable endorsement to your homeowners or renters policy that insures your eBike for its replacement cost value. Standard policies may cover your eBike but only up to a sublimit lower than your regular policy limits.
For example, say your coverage limit for personal property is $100,000 but your insurer enforces a $1,500 sub-limit for specific items, like jewelry, antiques and eBikes. Your electric bike may be valued at $2,500 but your home insurance policy will only cover up to $1,500.
Without personal property coverage, your eBike would not be insured for its full value. Adding this endorsement to your policy would help reduce your out-of-pocket costs when your eBike is lost or stolen due to a covered event.
Do You Need Insurance for Electric Bikes?
There is generally no federal or state law requiring electric bike insurance for eBikes equipped with motors up to 750 watts and meets the criteria for Class 1, 2 or 3 but you will want to double-check your state’s laws just in case because eBikes with more powerful motors may be subject to different regulations.
- Class 1: Motor assistance is activated when the rider is pedaling, only up to 20 mph.
- Class 2: Motor propels bicycle, only up to 20 mph.
- Class 3: eBike is equipped with a speedometer and motor assistance is activated when the rider is pedaling, only up to 28 mph.
While some states may not enforce insurance requirements for electric bikes, other requirements may apply. For example, California owners of Class 3 eBikes must:
- Be age 16 or older
- Wear a bicycle safety helmet
- Must not transport passengers
- Only ride eBike in bicycle lance
While eBike insurance is not legally required, there are several reasons to buy coverage.
Electric Bikes Have High Replacement Costs
Depending on the brand and quality, an electric bicycle can cost $3,000 and over. Electric bikes are also vulnerable to theft for their high value and expensive batteries.
Buying coverage either via an endorsement on your home or renters policy or a standalone eBike policy ensures financial protection if your eBike is stolen or damaged.
Standard Homeowners Policy May Not Be Enough
Your homeowners or renters insurance policy may offer a high coverage limit but you may not realize that your eBike is subject to a sub-limit that does not cover your eBike’s replacement cost.
Failing to understand which items have limited coverage can lead to a costly misunderstanding when filing a claim for your eBike. Adding scheduled property coverage to your home policy or buying a standalone eBike policy ensures you have the coverage you need.
Uninsured Motorist Protection
Uninsured motorist protection in a standalone eBike policy covers your losses when you’re involved in an accident with an uninsured driver who is responsible for the accident.
For example, say you’re riding your eBike and a car strikes you because they did not stop at a stop sign. You’re injured but the at-fault driver does not carry any liability coverage (which is illegal in most states but happens). Fortunately, your eBike policy has uninsured motorist coverage and will cover your medical bills, up to your policy limits.
What Kind of Coverage Comes With Electric Bike Insurance?
Depending on your insurance policy, standalone eBike policies may offer the following coverages:
- Vehicle contact protection (accident with car when sharing the road)
- Damages while in transit on an airplane, truck or car
- Taxi fare reimbursement if you are unable to ride your eBike home due to an accident
- Personal liability for injury, sickness, death or damages to others
- Uninsured motorist protection if you’re the victim in a hit-and-run or the at-fault driver is uninsured or underinsured
- eBike rental reimbursement if your insured eBike is unusable due to a covered loss or breakdown
- Permissive use (losses incurred when someone else is riding your eBike with your permission)
- Apparel and spare parts
- Global coverage
- Emergency medical costs (e.g., ambulance fees, x-rays, stitches)
Scheduled property coverage purchase via your home policy generally only covers your eBike from covered perils, such as theft and damages from fire, windstorms, vandalism and falling objects.
What’s Not Covered in eBike Insurance
Your eBike generally won’t be for the following damages or losses:
- Cosmetic damage
- Losses incurred during commercial use of your eBike (e.g., delivery or messenger services)
- Excluded perils (e.g., nuclear hazards, insects, war)
- Wear and tear
How Much Does eBike Insurance Cost?
Standalone eBike insurance policies can cost as low as $100 to $250 per year. Actual costs can vary based on multiple factors, including:
- eBike value
- Selected coverages
Which Companies Are Best for eBike Insurance?
Below, we highlight eBike insurance companies that offer affordable rates and benefits unique to eBike owners.
Starting at $100
Starting at $100
Best for roadside assistance
$250, on average
High liability and underinsured motorist coverage limits
Simple Bike Insurance
Starting at $100
Velosurance policies start as low as $100 with robust coverage options that can include global coverage. Adding this coverage to your policy ensures your eBike is covered for theft and damage claims whenever you’re traveling abroad. Your eBike is also covered while in transit.
With policies starting at $100, a Markel Insurance eBike policy is fairly affordable. eBike owners can add roadside assistance to their eBike policy to receive a service ride up to 35 miles. Not all car insurance policies will provide roadside service for eBikes and this coverage can come in handy when your eBike needs a tow.
Accidents happen and can be costly whether you were the responsible party or not. McClain Insurance offers coverage limits as high as $500,000 for liability or underinsured motorist insurance. This can offer some peace of mind when you’re responsible for losses and the expenses far exceed your out-of-pocket capabilities.
Simple Bike Insurance
Similar to other providers, Simple Bike Insurance policies start at $100. Fortunately, customers can save even more if they insure multiple eBikes or bicycles on a single policy — simple to multi-car discounts on an auto policy. This discount can be useful for a family of eBike riders and cyclists.
How To Get eBike Insurance in 4 Steps
Learn how to get coverage for your electric bicycle in just four simple steps.
Step One: Ask Your Insurance Company
Your eBike may already be insured under your homeowners or renters insurance policy and you should double-check your coverage. If it is, ask your insurer if your eBike is subject to a coverage sub-limit.
If your eBike has a sub-limit, consider asking about scheduled property coverage or a personal articles floater. Purchasing additional coverage could help reduce your out-of-pocket costs if your eBike is stolen or totaled in an accident.
Step Two: Shop Around
If you want to explore insurance policies specific to your eBike policy, then shopping around is the best way to get the lowest rate. Fortunately, eBike policies are relatively cheap and can start as low as $100 per year (less than $10 per month).
Before you begin your search, be sure to have your eBike information handy. For an accurate quote, eBike insurers will often request the following details:
- eBike total value
- eBike brand and model
- Serial number
- If it uses an auxiliary power source
- If it’s used or brand new
- Primary reason for bike (e.g., casual use or daily commuter)
Step Three: Ask About Discounts
eBike insurers may offer discounts unique to eBike riders, such as a multi-bike or cycling membership discount:
- Multi-bike discount: Similar to a multi-car discount on a car insurance policy, an eBike insurer may reduce your premium if you insure two or more eBikes under one policy.
- Cycling association membership discount: If you’re a cyclist and also insure a traditional bicycle and you’re a member of USA Cycling, USA Triathlon, the International Mountain Biking Association or some other association, you may qualify for additional savings.
Bundling discounts may be available if you purchase scheduled property coverage on your home policy, as well.
Step Four: Purchase Your Policy
If you’re satisfied with the quote for extending coverage under your existing home policy or a standalone eBike policy, it’s time to complete your purchase.
Keep in mind that shopping around should be a recurring task if you want to secure the cheapest rates. When it’s time to renew your home policy or eBike policy, you should compare rates from multiple insurers and switch over when you find a better deal.
Find a homeowners or renters policy with the coverage you need. The right policy for your home will meet your coverage needs and that should include your eBike. SmartFinancial analyzes carriers in your area to match you with a policy that meets your budget. Just enter your zip code below or call 855.214.2291 to receive your free homeowners or renters insurance quotes.