Electric Bike (EBike) Insurance ⚡️ Protect Your EBike

eBike Insurance

The electric bike is a new area of coverage for insurance companies in the US and Canada.  Your homeowners, renters, or auto insurance plans may or may not cover your electric bike if you have an accident or cause damage. This applies to all classes of eBikes including electric cargo bikes used for delivery business (covered under business insurance).  

We encourage you to do your homework and therefore recommend some good resources to make informed decisions on eBike insurance coverage.  Note that Wheel & Sprocket has no financial interest in these companies but we think they have some of the best information around:

  • Spoke Insurance.com (link to eBike insurance information and quote)

  • Markel Insurance (Bike insurance underwriter) 

Buying insurance is buying defense in case of an accident.  Check with your insurance company whether your homeowners, renters, or auto plan has both property and liability coverage for your eBike–don’t assume that they do!

2. Spoke Insurance

Spoke immediately makes its claim to fame and reputation in the e-bike industry in the US by being the pioneer of e-bike insurance in the company. Being first also allowed it to establish a firm hold on e-bike insurers in the country, and even as of this writing, Spoke remains as one of the almost automatic options by US e-bike riders when it comes to protecting their prized possessions. 

Spoke Insurance is similar to Velosurance in that it’s also one of the first to offer comprehensive bicycle insurance in the country. Coincidentally, it also shares the same conception year with the latter, having been launched in early 2012. Spoke’s immediate pull comes from the fact that it was established and run by cycling enthusiasts as well. They know what riders want, in short, and much more so for e-bike riders. 

Read also: How to select insurance for an electric bike? – in this article. And, buy the right e-bike insurance (with analysis and examples) – in this article.

Spoke’s prices start at $100 per year, which is fairly cheap for a company that is considered as a premium e-bike insurance provider. It also offers deductibles that can go for as low as $200, which is substantially lesser than the average homeowner’s policy in the US. 

It also is a bit more lenient and flexible when it comes to its e-bike coverage limitations, which can even provide coverage for models with 28 mph top speeds – this is a rarity for most e-bike insurance providers. 

Same as Velosurance, policyholders can also freely choose liability protections that can cover between $25,000 to $100,000. These are but some of the reasons Spoke is considered as an e-bike insurance company that can give you all you need. 

To find out more, visit the Spoke Insurance website.

RisksCoverage
Full value cover
Crash damage
Theft at or away from home
VandalismX
Third-party liability
Family coverX
Worldwide cover
Race fee cancellation
Accessories cover✓ 
Dental and physical injuries
Roadside recovery
Apparel and helmet cover
Racing cover
Training coverX
Emergency bike hireX
Shipping cover

Video

How Much Does Ebike Insurance Cost?

Prices are as low as $100 per year but the cost of ebike insurance is different for everyone. It depends on certain factors, like the type of ebike you have, the value of the bike, the coverage limit on your policy, your deductible, endorsements, discounts, and the insurance provider you choose. Unlike other kinds of insurance, your personal profile, like your age and credit score, is probably not going to affect your rate.

Article content

An e-bike is a two- or three-wheeled cycle with a seat, pedal, and an electric motor. To legally drive an e-bike in Canada you have to be 16 years of age or older and wear a helmet. That’s it. There is no licence required. Why? It’s because of the limited power, speed restriction, safety features, and ease of use that e-bikes offer.

We apologize, but this video has failed to load. Try refreshing your browser, or tap here to see other videos from our team.

A motorized scooter is not considered an e-bike because it has a gas-powered motor and no pedals. Just like a motorcyclist, if you plan to ride a motorized scooter you will require a licence and insurance.

Best Commuter EBike Insurance: Spoke

 Spoke

Get a Quote

Founded in 2012, SPOKE was the first bicycle insurance company in the U.S. and provides comprehensive, stand-alone bicycle insurance, including for ebikes.

SPOKE is now underwritten by Markel and distributed by Marsh & McLennan Agency and, for that reason, provides extremely robust coverage options. The carrier is also worth highlighting because it offers ebike- and commuter-specific policies for as little as approximately $100 per year.

And, as with Velosurance and other Markel providers, roadside assistance is available and features a network of more than 10,000 tow truck companies across the U.S. and transportation within a 35-mile coverage zone up to five times a year. 

SPOKE requires prospective clients to provide their contact information before obtaining a policy quote. You’ll also have the option to enter your Social Security number (while this isn’t required, it will result in a more accurate estimate). 

Why it's a fit for Treehugger: Spoke is an excellent option for Treehugger readers because of its comprehensive options for commuters.

Is an EBike Considered a Motorized Vehicle?

In the U.S., the classification of ebikes as a motorized vehicle varies by state. For example, in Alabama and Alaska, electric bikes are considered motorcycles. However, this is more the exception than the rule, and most states classify ebikes as bicycles or electric-assisted bicycles, meaning they often don’t require a license or impose a minimum driving age. Because of these differences, though, you should always check your state’s requirements when considering an ebike.

Does my bike insurance cover my ebike?

Many ‘regular’ bike insurance policies cover ebikes as defined under the Road Traffic Act. This states that the ebike must have a maximum power output of 250 watts, is restricted to 15.5mph or 25 km/h and is not ridden by someone under the age of 14.

Specialist ebike insurance schemes have clauses that give full cover for battery loss or damage. Apart from that, they are almost identical to pedal-powered bike policies.

6. ISU Insurance Services of Westlake

ISU Insurance Services of Westlake or ISU, for short, operates on a national level and offers a variety of personal and business insurance coverage, some of which are more obscure and uncommon compared to most. Indeed, it’s quite a pleasant discovery to learn that there is a growing number of insurance services in the US that offer comprehensive coverages for very specific niches like tattoo shops, spas, and, of course, e-bikes.

ISU has been around since 1988 and has continued to make Los Angeles its headquarters. It has established quite an impressive presence nationwide, with over 50 branches in multiple states already operating under its wing. 

It provides all types of bicycle shop insurance as well, e-bikes included. And what’s evidently great about the company is that they are all too willing to dive into the intricacies of the user’s needs before suggesting a policy. 

However, we do have to assert that the company’s policies are limited to e-bike shop owners and not personal e-bike riders. If you happen to belong in the former group, then ISU may just be able to deliver all the business protection you need. 

To find out more, visit the ISU Insurance website.

RisksCoverage
Full value cover
Product liability
Theft at or away from the store
Employer protective liability
General liability
Worker compensation
Worldwide cover
Shipping cover
Accessories cover✓ 
Pedego e-bikes: rentals, stores, tours
Fire cover for inventory

E-bike insurance is readily available and affordable

Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. 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. Markel’s electric bicycle coverage protects the ebike from theft, damage and more. E-bike policies start at $100 per year and offer a variety of coverage levels and deductible options.

Each policy can be customized to fit you and your riding style. Coverages include protection for damage caused by theft, crash, collision, fire, attempted theft, vandalism or hitting another object. Coverage of spare parts, cycle apparel, and rental reimbursement are also included at no additional cost.

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. Additionally, roadside assistance is available, providing the cyclist a service vehicle ride of up to 35 miles.

It’s your move. Take action today and protect yourself and your e-bike.

E-bikes are high potential risks

E-bikes have a greater need for liability coverage. 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. Without insurance, an e-biker who caused an accident could be personally responsible and face devastating financial liabilities.

What about insurance for a motorized scooter?

Insuring a motorized scooter is definitely more straightforward than having to insure an e-bike. Since you need a licence to operate a motorized scooter and insurance companies consider it a “motorcycle,” you just need to purchase motorcycle insurance.

Like car insurance, motorcycle insurance must cover you for a minimum of $200,000 in liability. Comprehensive coverage is not legally required, though. In a lot of cases, if the rider has purchased a used motorcycle, the cost of the comprehensive coverage ends up being more than the value of the bike, which is why many people opt not to get it.

What are some e-bike riding tips?

Before you hop on an e-bike, there are some must knows on e-bike safety, including an answer to the question, “Do you need insurance on an e-bike?” Here are some ideas on how to use an electric bike and an overview of the different classes, motor types and safety precautions of e-bikes.

What Is Electric Bike Insurance?

If your bike is expensive, like many e-bikes, you should consider buying an insurance policy for it. These standalone policies are designed for bike owners and go beyond the protections offered by a condo, home, or renters insurance policy. A comprehensive electric bike insurance policy may offer coverage for:

  • Accidental damage
  • Collisions with uninsured motorists
  • Crash damage
  • Cycling apparel damage or theft
  • In-transit losses
  • Liability
  • Medical payments
  • Racing-related damages or losses
  • Rental bike reimbursement following a covered loss
  • Roadside assistance
  • Spare parts losses
  • Theft and vandalism
  • Vehicle contact

Your home insurance policy may have a deductible of $1,000 or more. But with a bike insurance policy, you can choose a deductible as low as $200. And if you own more than one bike, some insurers will allow you to purchase a single policy that covers your entire collection. 

Things to Consider When Purchasing Insurance for Bicycle Ride

Personal Accident Insurance

If you’ve been involved in an accident on your e-bike as an uninsured motorist, you will have to worry about how you are going to pay to have the damaged e-bike repaired out of your own pocket. In the event that you’ve got a personal accident section included in your electric bicycle insurance policy, then you will be given a lump sum amount of money if you are seriously injured following an accident on your e-bike. This may help ease your mind even in the worst-case scenario.

 

E-Bike Theft Insurance

As a cyclist, theft is always a concern. Bikes are often covered under insurance policies in the event your lock or chain is cut, so make sure to protect your e-bike against this risk when purchasing an insurance policy. A theft section on your electric bicycle insurance policy will pay for the expense of a replacement if yours is stolen, something that is especially critical if your ride is on the higher end in terms of price.

Third-Party Liability

This is likely what you think about when e-bike insurance is brought up. In the event that you are involved in an accident while riding your e-bike, third party liability insurance would cover the cost of any damages that resulted from the accident. As an e-bike is considered a motorized bike, third-party liability insurance is significant because it is something that is not often thought of, but something that can happen to any rider.

Malicious or Accidental Damage

Accidents and vandalism happen all the time. While it is certainly not your fault, you will likely require help in paying for any repairs or replacements that are required as a result. If you are considering purchasing e-bike insurance, be sure that you get a policy that covers accidental and malicious damage, so that you can keep your e-bike in excellent shape no matter what happens.

 

Want updates when there’s BikeRadar news?

Sign up to receive our newsletter!

Thanks! You’ve been subscribed to our newsletter.

Already have an account with us? Sign in to manage your newsletter preferences

Sign in Register

Tags