We're experiencing some technical difficulties. But even locked bicycles are at huge risk of theft - according to the Office of National Statistics, there were 271,000 incidents of bicycle theft between April 2019 and March 2020. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. Compare cheap electric bicycle insurance. E-bike insurance is readily available and affordable. It’s a risky move for your e-bike to be uninsured. Please try again in a few moments. Bicycle physical damage insurance protection Covers repairs or replacement of your bike if it is damaged or goes missing. The cost to insure an e-cycle is no different than insuring a pedal-power bike and the Velosurance cyclist policy offers the same coverage to both bicycle types. So bicycle insurance and electric bike insurance do exist and these services are designed to provide coverage between auto, home and renters insurance where there are gaps and fine print exclusions. Learn how you can start doing business with Markel Specialty. Coverage of spare parts, cycle apparel, and rental reimbursement are also included at no additional cost. Fast, practical and eco-friendly, electric-assisted bicycles seem to be a … With an investment like that, you want to make sure you have adequate coverage for theft or damage. Registered office: Imperial House, Imperial Way, Newport, Gwent, NP10 8UH, United Kingdom. Electric bikes tend to travel faster and are heavier than bicycles, making them high potential risks for causing damage to someone else’s property or bodily harm to another. Liability & Uninsured Motorist: This is the most economical of all the electric … Our Bike Shop Insurance and Bicycle Manufacturers Liability Insurance is highly recommended within the industry because it has been our passion to provide this particular coverage for over 30 years. At cycleGuard, we’ve been protecting cyclists and triathletes across the UK for over 20 years against theft and damage to all types of bike including mountain, folding, electric and road as well as cycling accessories inside the home, away from the home and much more. Come hear us speak at industry tradeshows or give us a call today. Same goes for renters or condo insurance. Coverages include protection for damage caused by theft, crash, collision, fire, attempted theft, vandalism or hitting another object. Also, electric bike insurance premiums are typically very cheap. Access to commercial and personal lines agent portals. But to be 100% covered, you have to subscribe to specific guarantees. Comparing E-bike policies is free, fast and simple. Our electric bike cover automatically includes any fire damage caused through an electrical fault. Electric bike insurance. and hard-to-place risks. Velosurance is a national bicycle insurance agency founded by two cyclists in response to the insurance needs of bicycle riders nationwide. However, some insurance carriers are considering the E-Bike to be similar in nature to the human powered bicycle, and are covering them in the same manner as they would if the bike did not have the electronic motor. Every electric bicycle insurance policy comes with a free DNA+ marking kit worth £36, which consists of a transparent, coded fluid registered to you, and a set of warning stickers. You pick the value limit of your bike, and we can cover things like vandalism, crash damage, or a collision with another rider. Compare travel insurance with medical conditions, Compare public liability insurance quotes, Compare electric bicycle insurance options and prices with i-Wonder[1]. Your home owners' insurance may not provide adequate coverage for your electric bicycle. Gocompare.coms relationship with i-Wonder is limited to that of a business partnership, no common ownership or control rights exist between us.†. We love our bicycles as well as our bike trips in Ireland and abroad. That's where Pedal Power can help, and it is why OASIS Outdoor Adventure and Sports Insurance Solutions Inc. created the specialized Pedal Power bicycle insurance program for your electric bike. All the standalone bicycle insurance policies we looked at covered ebikes, with most policies specifying that the bike must be a 'pedal assist' bicycle which does not exceed 300 watts. A good quality entry-level e-bike costs upwards of $1,000, an average value e-bike runs around $3,000, and a high-end e-bike costs as much as $12,000. Let’s see how e-bike insurance works in France and in Switzerland. Mountain bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. Regardless of whether coverage is required of e-bike owners, it is recommended that all e-bike owners consider the risks and responsibilities associated with owning an e-bike and the insurance protections that they may want in place in the event of a … Insure your electric bike against inconvenient events such as theft or accidental damage. Electric bikes can make commuting easier, but having good ebike insurance is essential. Specialist low cost insurance rates for electric cycles. provided by. Bundling: If you choose to have your electric bicycle policy with the same company that has your auto or home insurance, you might be able to get a discount and bundle them all together. Gocompare.com Limited is authorised and regulated by the Financial Conduct Authority (FCA) for insurance mediation activity under firm reference number 465053. Specialist bike insurance from cycleGuard Insurance for bikes, e-bikes and cycling accessories. Unfortunately, due to the increased cost of e-bikes this often makes them targets for thieves, which is why our e-bike insurance comes with theft cover and accidental damage as standard. It’s your move. Gocompare.com Ltd. All Rights Reserved. Or call +1.800.236.2453 to speak with a bicycle insurance specialist. If your bike is classed as a moped, then you’ll have to tax it and take a Compulsory Basic Training (CBT) course. Remember: For insurance purposes, electric bicycles are considered “motorized vehicles” and thus excluded from homeowners and renters insurance policies. Our simple online quote form means you can tailor your pedelec quote. We partnered with an A.M.Best “A” rated, US insurance company to provide a multi-risk policy offering protection to all types of cyclists. 5799376). The DNA+ kit will prove a bicycle is stolen, increasing the risk to a would-be thief considerably, and act as a strong deterrent. Additional optional coverages include: Liability coverage to cover the costs for a third party in case of injuries or property damage caused by the insured cyclist; medical payments to cover medical costs of the insured cyclist associated with a cycling accident; and vehicle contact protection for medical costs of the insured cyclist associated with accidents caused by an automobile. Cycling under the influence of drink or drugs is illegal and will invalidate your insurance. Whether it’s the daily cycle to work or just a cycle on the weekend, we have you covered here with our bicycle insurance. Mopeds are required to have insurance by law, so you’d have to pay for that too. By using the website you agree with our use of cookies. Compare electric bicycle insurance options and prices with Protect Your Family . Markel offers a stand-alone e-bike insurance policy that insures e-bikes with power assist up to 750 watts with speeds up to 28mph. Without insurance, an e-biker who caused an accident could be personally responsible and face devastating financial liabilities. Why buy an electric bicycle is a key question. Bicycleinsurance.ie will cover the majority of bicycles, from road bikes, to racing bikes and mountain bikes to regular push bikes. Let’s take a closer look at why e-bike insurance is a good move. LightSpeed Electric Bicycle INSURANCE. Without e-bike insurance, if you are liable for an accident you will have to pay for the damages and injuries you caused, including any attorney fees and defense costs incurred. Markel's electric bicycle coverage protects the ebike from theft, damage and more. Prior to 2020, readers in Northern Ireland had a legal obligation to insure their electric bikes, but for ebike riders in the rest of the UK, … Before you take out a specialist electric bike insurance policy, check your home insurance to see what cover you have for pedal cycles. We know how important it is to get the right cover to suit your cycle insurance cover requirements. With the recent spike in bicycle sales during the coronavirus crisis, we've updated this guide to help you decide if you should get insured, or ride without a financial safety helmet. It’s particularly popular for race and event cover, offering cancellation cover of up to … You’re typically protected if the bike is stolen (or vandalized) pretty much anywhere, including your home, garage, at the park, etc. LEARN MORE ABOUT OUR SMALL BUSINESS COVERAGES, Helping avoid common hazards when bicycling, Securing your bicycle while running errands, The differences between E-bikes and standard bikes. Bicycles fitted with an internal combustion engine or other sources of power assistance are generally not covered (these may be considered mopeds and will require different cover). © 2020 Markel Corporation. Take action today and protect yourself and your e-bike. Since 1 May 2019, British Cycling bike insurance has been provided by Bikmo. If you own an electric bicycle or are planning on buying one, then you know it’s a significant investment. If you expect to be spending a bit of time in the saddle and want to ride with peace of mind of knowing you’re covered for a myriad of situations, consider bike insurance. It might be worth checking your home contents policy or considering specialist insurance to see what cover you can get. All rights reserved. A max speed, with power assistance, of 15.5mph: you can go faster, but only under your own pedal power. The big advantage of riding an ebike is that you eliminate fuel and road tax costs. [1]Gocompare.com introduces customers to i-Wonder, which is authorised and regulated by the Financial Conduct Authority. E-bikes are classed as regular non-assisted bicycles in Great Britain but if they supply electrical assistance when travelling at more than 25kph (15.5mph), have a motor which generates more than 250 Watts of power or motor assistance can be provided without the bike's pedals being in motion, they will be legally treated as a moped or motorcycle. Yes, we can insure e-bikes, although there are certain types of e-bike that we cannot cover. In 2019 Department for Transport reported 16,873 cyclists killed or injured in reported road accidents. Most of bicycle insurance won’t cover electric bikes as electric bikes cost more than bicycles and they have different accidents and incidents. Traditional homeowners and renter insurances typically offer limited coverage (if any) for theft, damage, or liability related to e-bikes because an electric bike is considered a motorized vehicle. Under personal property coverage on most home insurance policies, your bike may be covered for what it’s currently worth. In addition, auto insurance companies may not offer e-bike insurance because e-bikes do not need to be registered and e-bike riders are not required to have a valid driver’s license. Most contents insurance policies that include bikes have a low cover limit, which is likely to be below the value of your electric bike, and unlikely to cover bicycle theft away from the home. Your coverage may fall short in all areas of coverage — damage, theft, liability and injury. We can insure electric bikes that meet our e-bike specification (see "What type of electric bikes can cycleGuard cover?" Electric bicycle insurance; Bicycle insurance. A deductible may apply and you’ll be covered up to the applicable limits of your home, condo or renters policy… GoCompare uses cookies. The British government’s Cycle to Work scheme was launched in 1999 to encourage commuters to take up cycling as a greener, healthier alternative to driving to work, which in turn could help the government meet its environmental targets and reduce road traffic congestion. Compare electric bike insurance quotes to find cover to protect you from damage and theft. 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