Electric bikes can make commuting easier, but having good ebike insurance is essential. 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. Liability & Uninsured Motorist: This is the most economical of all the electric … Most of bicycle insurance won’t cover electric bikes as electric bikes cost more than bicycles and they have different accidents and incidents. 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. Mopeds are required to have insurance by law, so you’d have to pay for that too. Come hear us speak at industry tradeshows or give us a call today. The big advantage of riding an ebike is that you eliminate fuel and road tax costs. If you take proper care of your ebike it will provide you with service much longer than any car or … 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. 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. It’s your move. Please try again in a few moments. At Markel Specialty, it is our people that make the difference. It’s particularly popular for race and event cover, offering cancellation cover of up to … Specialist low cost insurance rates for electric cycles. [1]Gocompare.com introduces customers to i-Wonder, which is authorised and regulated by the Financial Conduct Authority. 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. Under personal property coverage on most home insurance policies, your bike may be covered for what it’s currently worth. E-bike policies start at $100 per year and offer a variety of coverage levels and deductible options. And this type of insurance is readily available through a variety of providers. 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. We can only cover pedal assist electric bikes that assist up to 15.5mph and are limited to 250 watts. Bicycleinsurance.ie will cover the majority of bicycles, from road bikes, to racing bikes and mountain bikes to regular push bikes. 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. You may check this on the Financial Services Register by visiting the FCA website. 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. LightSpeed Electric Bicycle INSURANCE. eBike Insurance: compare cheap insurance quotes for electric bikes. 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. Compare cheap electric bicycle insurance. 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. 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. Markel's electric bicycle coverage protects the ebike from theft, damage and more. 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. 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. All rights reserved. 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. It’s a risky move for your e-bike to be uninsured. provided by. 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. 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. 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. Electric bikes must comply with the Electrically Assisted Pedal Cycles - EAPC - (Amendment) Regulations 2015. 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. You’re typically protected if the bike is stolen (or vandalized) pretty much anywhere, including your home, garage, at the park, etc. Electric bicycle insurance; Bicycle insurance. underwrites innovative property and casualty solutions for both standard
Get an instant quote and cover today. Before you take out a specialist electric bike insurance policy, check your home insurance to see what cover you have for pedal cycles. 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. The DNA+ kit will prove a bicycle is stolen, increasing the risk to a would-be thief considerably, and act as a strong deterrent. 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. Comparing E-bike policies is free, fast and simple. Let’s see how e-bike insurance works in France and in Switzerland. Access to commercial and personal lines agent portals. 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. 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. Thank you for your continued patience and apologies for any inconvenience this may cause. Our simple online quote form means you can tailor your pedelec quote. Gocompare.coms relationship with i-Wonder is limited to that of a business partnership, no common ownership or control rights exist between us.†. Take action today and protect yourself and your e-bike. Or call +1.800.236.2453 to speak with a bicycle insurance specialist. 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. Electric bike insurance. and hard-to-place risks. A deductible may apply and you’ll be covered up to the applicable limits of your home, condo or renters policy… Why buy an electric bicycle is a key question. Insuring your bike will allow you to make sure that you and your investment are protected. 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. But to be 100% covered, you have to subscribe to specific guarantees. Remember: For insurance purposes, electric bicycles are considered “motorized vehicles” and thus excluded from homeowners and renters insurance policies. 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. If your bike is classed as a moped, then you’ll have to tax it and take a Compulsory Basic Training (CBT) course. Markel is a holding company for insurance, reinsurance, and investment operations around the world. If your bike’s properly secured, a bicycle insurance policy will cover you for theft and damage caused by vandals. Unfortunately, theft isn’t the only risk that comes along with cycling. In 2019 Department for Transport reported 16,873 cyclists killed or injured in reported road accidents. With an investment like that, you want to make sure you have adequate coverage for theft or damage. Gocompare.com Limited is registered in England and Wales (Company No. We’ve teamed up with ‘Protect Your Family’ to help you compare cover from electric bicycle insurance companies. Electric bicycle insurance isn’t compulsory, but could you afford to repair or replace your bike? 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. This article is intended for general informational purposes only regarding non-insurance matters and is not designed to provide professional advice. A max speed, with power assistance, of 15.5mph: you can go faster, but only under your own pedal power. Also, electric bike insurance premiums are typically very cheap. Get quotes. Let’s take a closer look at why e-bike insurance is a good move. 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. 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. Your household insurance can, in some cases, also protect your electric bike. Gocompare.com Ltd. All Rights Reserved. Velosurance is a national bicycle insurance agency founded by two cyclists in response to the insurance needs of bicycle riders nationwide. Insure your electric bike against inconvenient events such as theft or accidental damage. Whether it’s the daily cycle to work or just a cycle on the weekend, we have you covered here with our bicycle insurance. 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. 5799376). 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. Since 1 May 2019, British Cycling bike insurance has been provided by Bikmo. 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. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. 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 bicycles are a great way for people of all ages to be able to exercise for longer. 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. 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 … Each policy can be customized to fit you and your riding style. Additionally, roadside assistance is available, providing the cyclist a service vehicle ride of up to 35 miles. 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. Get a fast, free online quote today and get the protection and peace of mind you deserve. If you own an electric bicycle or are planning on buying one, then you know it’s a significant investment. We're experiencing some technical difficulties. Without insurance, an e-biker who caused an accident could be personally responsible and face devastating financial liabilities. 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. You pick the value limit of your bike, and we can cover things like vandalism, crash damage, or a collision with another rider. E-bikes have a greater need for liability coverage. Purchasing an electric vehicle is as exciting as purchasing a regular vehicle, if not more so. We know how important it is to get the right cover to suit your cycle insurance cover requirements. quickly and easily. 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. 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. Additionally, there are insurance carriers that are offering stand-alone policies for E-Bikes. Bicycle physical damage insurance protection Covers repairs or replacement of your bike if it is damaged or goes missing. Markel has taken great pride in being a consistent market for America's small businesses. Tools to help you grow your business with Markel Specialty. Compare electric bike insurance quotes to find cover to protect you from damage and theft. All electric bicycles, meeting these criteria will need third-party liability insurance. 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. Compare electric bicycle insurance options and prices with Protect Your Family . If you use a de-restrictor kit, or your e-bike motor has more power as standard, then your insurance will be invalid and the bike comes under the … 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. We love our bicycles as well as our bike trips in Ireland and abroad. GoCompare uses cookies. 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. Markel Specialty, one of Markel Corporation’s four insurance divisions,
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: 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). Coverage of spare parts, cycle apparel, and rental reimbursement are also included at no additional cost. Learn how you can start doing business with Markel Specialty. Registered office: Imperial House, Imperial Way, Newport, Gwent, NP10 8UH, United Kingdom. Specialist bike insurance from cycleGuard Insurance for bikes, e-bikes and cycling accessories. By using the website you agree with our use of cookies. Your home owners' insurance may not provide adequate coverage for your electric bicycle. Electric bike insurance is essential as they can be expensive to repair. Same goes for renters or condo insurance. © 2020 Markel Corporation. E-bike insurance is readily available and affordable. Mountain bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. We can insure electric bikes that meet our e-bike specification (see "What type of electric bikes can cycleGuard cover?" It might be worth checking your home contents policy or considering specialist insurance to see what cover you can get. Your coverage may fall short in all areas of coverage — damage, theft, liability and injury. Cycling under the influence of drink or drugs is illegal and will invalidate your insurance. Fortunately, our bicycle insurance is designed specifically for e-bikes to give you the peace of mind you deserve. Yes, we can insure e-bikes, although there are certain types of e-bike that we cannot cover. 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. 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