Electric bikes can cost a lot more than regular bikes, but if you use yours as day-to-day transport, then locking it up outside a shop or train station is probably a necessary part of your routine. 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. Under personal property coverage on most home insurance policies, your bike may be covered for what it’s currently worth. You might be able to add cover for bicycles away from home for less than a specialist bicycle insurance policy, so check with your insurer. 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). Electric bicycles are a great way for people of all ages to be able to exercise for longer. and hard-to-place risks. Access to commercial and personal lines agent portals. Electric bicycle insurance isn’t compulsory, but could you afford to repair or replace your 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. Yes, we can insure e-bikes, although there are certain types of e-bike that we cannot cover. Electric bikes: licensing, tax and insurance You can ride an electric bike if you’re 14 or over, as long as it meets certain requirements. By using the website you agree with our use of cookies. Or call +1.800.236.2453 to speak with a bicycle insurance specialist. 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, … Electric bicycle insurance; Bicycle insurance. Compare cheap electric bicycle insurance. And this type of insurance is readily available through a variety of providers. We’ve teamed up with ‘Protect Your Family’ to help you compare cover from electric bicycle insurance companies. 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. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. Let’s see how e-bike insurance works in France and in Switzerland. Let’s take a closer look at why e-bike insurance is a good move. Markel is a holding company for insurance, reinsurance, and investment operations around the world. 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. Each policy can be customized to fit you and your riding style. Gocompare.com Ltd. All Rights Reserved. Coverage of spare parts, cycle apparel, and rental reimbursement are also included at no additional cost. Please try again in a few moments. Electric bikes can make commuting easier, but having good ebike insurance is essential. Electric bikes (commonly referred to as e-bikes) are expensive, high potential risks on the road typically not fully covered by homeowners, renter or auto insurances. 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 … Since 1 May 2019, British Cycling bike insurance has been provided by Bikmo. Fast, practical and eco-friendly, electric-assisted bicycles seem to be a … Coverages include protection for damage caused by theft, crash, collision, fire, attempted theft, vandalism or hitting another object. Insure your electric bike against inconvenient events such as theft or accidental damage. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. All electric bicycles, meeting these criteria will need third-party liability insurance. 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. Learn how you can start doing business with Markel Specialty. Your coverage may fall short in all areas of coverage — damage, theft, liability and injury. Remember: For insurance purposes, electric bicycles are considered “motorized vehicles” and thus excluded from homeowners and renters insurance policies. Markel has taken great pride in being a consistent market for America's small businesses. Electric bike insurance is essential as they can be expensive to repair. Here are some more reasons to choose Cycleplan for your specialist electric bike insurance: Theft and accidental damage up to £30,000 – Covers your Ebike if the incident happens when the bike is being used by you or an immediate family member who permanently lives with you. Insuring your bike will allow you to make sure that you and your investment are protected. You may check this on the Financial Services Register by visiting the FCA website. Same goes for renters or condo insurance. Unfortunately, theft isn’t the only risk that comes along with cycling. 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. 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. Additionally, electric bikes are usually complex with mechanical, electrical and computer driven systems that tend to travel fast, for great distances at a time, making them more susceptible to damage or loss. 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. We can insure electric bikes that meet our e-bike specification (see "What type of electric bikes can cycleGuard cover?" Your home owners' insurance may not provide adequate coverage for your electric bicycle. 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. 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. Fortunately, our bicycle insurance is designed specifically for e-bikes to give you the peace of mind you deserve. underwrites innovative property and casualty solutions for both standard 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. 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. We're experiencing some technical difficulties. 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. 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. Mountain bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. Specialist low cost insurance rates for electric cycles. Gocompare.com Limited is registered in England and Wales (Company No. provided by. 5799376). We know how important it is to get the right cover to suit your cycle insurance cover requirements. Get quotes. Additionally, there are insurance carriers that are offering stand-alone policies for E-Bikes. Our electric bike cover automatically includes any fire damage caused through an electrical fault. 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. Specialist bike insurance from cycleGuard Insurance for bikes, e-bikes and cycling accessories. If your bike’s properly secured, a bicycle insurance policy will cover you for theft and damage caused by vandals. 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. The DNA+ kit will prove a bicycle is stolen, increasing the risk to a would-be thief considerably, and act as a strong deterrent. If your bike is classed as a moped, then you’ll have to tax it and take a Compulsory Basic Training (CBT) course. Whether it’s the daily cycle to work or just a cycle on the weekend, we have you covered here with our bicycle insurance. E-bikes have a greater need for liability coverage. This list of ten questions is designed to help you test and poke holes in your traditional policies and determine whether you really need bicycle specific insurance: eBike Insurance: compare cheap insurance quotes for electric bikes. At Markel Specialty, it is our people that make the difference. It might be worth checking your home contents policy or considering specialist insurance to see what cover you can get. GoCompare uses cookies. Bicycleinsurance.ie will cover the majority of bicycles, from road bikes, to racing bikes and mountain bikes to regular push bikes. If you own an electric bicycle or are planning on buying one, then you know it’s a significant investment. Compare travel insurance with medical conditions, Compare public liability insurance quotes, Compare electric bicycle insurance options and prices with i-Wonder[1]. Gocompare.com Limited is authorised and regulated by the Financial Conduct Authority (FCA) for insurance mediation activity under firm reference number 465053. Most of bicycle insurance won’t cover electric bikes as electric bikes cost more than bicycles and they have different accidents and incidents. Liability & Uninsured Motorist: This is the most economical of all the electric … Gocompare.coms relationship with i-Wonder is limited to that of a business partnership, no common ownership or control rights exist between us.†. Come hear us speak at industry tradeshows or give us a call today. Why buy an electric bicycle is a key question. All rights reserved. Mopeds are required to have insurance by law, so you’d have to pay for that too. [1]Gocompare.com introduces customers to i-Wonder, which is authorised and regulated by the Financial Conduct Authority. © 2020 Markel Corporation. But to be 100% covered, you have to subscribe to specific guarantees. Take action today and protect yourself and your e-bike. 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. Our simple online quote form means you can tailor your pedelec quote. 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. When you’re comparing specialist electric bicycle insurance, check you’re covered for: If your electric bike can reach 15.5mph, it could be classed as a moped. Registered office: Imperial House, Imperial Way, Newport, Gwent, NP10 8UH, United Kingdom. You can get personal injury cover with your electric bicycle insurance, which will give you a pay out if you’re hurt while cycling. Get an instant quote and cover today. This article is intended for general informational purposes only regarding non-insurance matters and is not designed to provide professional advice. 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. We love our bicycles as well as our bike trips in Ireland and abroad. A deductible may apply and you’ll be covered up to the applicable limits of your home, condo or renters policy… 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. An electric bicycle has many electronic components that differentiate it from a regular bicycle, thereby increasing the need to protect your bicycle with an insurance. We can only cover pedal assist electric bikes that assist up to 15.5mph and are limited to 250 watts. Thank you for your continued patience and apologies for any inconvenience this may cause. With an investment like that, you want to make sure you have adequate coverage for theft or damage. LightSpeed Electric Bicycle INSURANCE. Tools to help you grow your business with Markel Specialty. E-bike insurance is readily available and affordable. Before you take out a specialist electric bike insurance policy, check your home insurance to see what cover you have for pedal cycles. As well as shopping around to find the right deal for you, make sure you store your bicycle securely, with a sturdy lock and preferably in a locked garage or shed as well. Velosurance is a national bicycle insurance agency founded by two cyclists in response to the insurance needs of bicycle riders nationwide. Your household insurance can, in some cases, also protect your electric bike. 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. Get a fast, free online quote today and get the protection and peace of mind you deserve. Markel's electric bicycle coverage protects the ebike from theft, damage and more. Your actual bicycle insurance quote will be calculated based on your circumstances and takes into consideration what kind of bike you ride and its value. Additionally, roadside assistance is available, providing the cyclist a service vehicle ride of up to 35 miles. Compare electric bicycle insurance options and prices with Protect Your Family . A max speed, with power assistance, of 15.5mph: you can go faster, but only under your own pedal power. 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. 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. Electric bike insurance. Comparing E-bike policies is free, fast and simple. Don’t leave it parked in public for too long either - some insurers won’t pay out on claims for bikes left unattended for longer than 12 hours. It’s particularly popular for race and event cover, offering cancellation cover of up to … It’s a risky move for your e-bike to be uninsured. If you cycle, you don't always need bike insurance – but lack of cover could put a nasty spoke in your wheel if the worst happened. 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