Your bike is covered by insurance if it is stolen, damaged, or involved in an accident. Even if you have house or renters insurance, ebikes typically offer limited coverage, and some policies completely prohibit coverage for ebikes.
There aren’t many ebike insurance companies on the market because they are a relatively recent trend.
The simplest providers, however, offer liability insurance, theft protection, crash coverage, and nearly as good customer service.
Popular 6 Electric Bike Insurance for Year 2022
We frequently seek out policies with the most straightforwardly supported coverage limitations, unique possibilities, and reductions.
Let’s see from our list to learn advantages and disadvantages for those Electric Bike Insurance offers.
1Velosurance
Due to its thorough coverage, robust policy options, and unique features that you won’t find from other ebike insurance providers, Velosurance is the finest overall provider of ebike insurance.
Velosurance: Pros
- A wide range of coverages and certain specialty policies
- For membership organizations, discounts are available National store network
Velosurance: Cons
- Unable to find a second quote online
- The website contains no information about ratings or deductibles.
- Not offered in every state
Due to Velosurance’s nearly unrivaled coverage, we decided that it was the finest non-depository financial institution for e-bikes overall.
A standard policy covers theft, crash and accident damage, transit-related injury, edge assistance, medical expenses, and much more.
Anywhere in the globe, your bike is covered, and the firm will extend your coverage limit as you travel for a small charge.
2Spoke Insurance
We like to recommend Spoke Insurance to any ebike user looking for a solid policy that won’t break the bank because it offers dependable ebike insurance starting at just $100 per year.
Spoke Insurance: Pros
- Policies start at just $100 a year for coverage.
- Options for good insurance with large limits
- Options with low deductibles are available.
- Online quote submission using the Markel website
Spoke Insurance: Cons
- There are no sales available.
- Only available to Markel customers who have house and renters insurance
- There is a cost for global coverage.
They chose Spoke Insurance since it was the top provider of affordable coverage for e-bike insurance. It is one of our assessed suppliers with the most reasonable premiums, starting at $100 per year.
You can choose a deductible between $200 and $500 every claim, and if you choose a deductible at the higher end, it will further reduce your premium.
Any electric bicycle with a top speed of less than 28 mph can be covered by Spoke Insurance. You can get coverage if your e-bike has less than 750 watts of power.
Collision insurance, theft insurance, coverage for spare parts, bike cost coverage, medical payments coverage, liability coverage, bike rental compensation, and transit protection are all included in Spoke Insurance’s standard policy.
For an additional $12 per year, you may add emergency roadside assistance with up to 35 miles of towing, and you can choose any style of repairs for your bike if it needs them.
3McClain Insurance
For bikers who want more financial security and additional peace of mind in the event of an ebike accident, McClain Insurance offers high-coverage-limit ebike insurance policies.
McClain Insurance: Pros
- Affordable premiums with a $250 introductory rate every year
- Plans with high coverage limitations
- Your policy is often kept current with an annual “Five Minute Insurance Checkup.”
McClain Insurance: Cons
- very limited coverage in comparison to other suppliers
- Not available in all states
- Little independent evaluations, and no AM
- Best grade for financial strength
By a wide margin, McClain Insurance has the best coverage limits out of all the ebike insurance providers we researched. You can obtain insurance and underinsured motorist coverage up to $500,000.
Additionally, typical ebike insurance policies include medical costs coverage and property damage coverage; however, the available policy limitations are not listed online.
Even though McClain Insurance offers high coverage levels, the market coverage is quite limited, especially when compared to other carriers that we have studied.
No unique features, such as roadside assistance, worldwide coverage, trip protection, or cost coverage, are advertised by the company.
4Sundays Insurance
Sundays Insurance offers nice international bike coverage, thus you ne’er ought to worry regarding your ebike obtaining broken, stolen, or lost in a very hold if you are taking your bike on a remote getaway.
Sundays Insurance: Pros
- A wide range of coverage options and some unique insurance options
- Online quotation requests, coverage purchases, and claim submissions are simple.
- Free benefits for Strava subscribers.
- Batteries for e-bikes are eligible for coverage under a standard policy.
Sundays Insurance: Cons
- International coverage is not available for free.
- Not available in all states
Their pick for the simplest e-bike insurance for overseas tourists is Sundays Insurance. You can get airline shipping coverage and physical damage coverage while you’re traveling abroad if you purchase a global extension to your policy.
The only drawback is that in order to take use of these benefits, you must just obtain the extension. The Sundays Insurance ebike insurance offers a variety of various coverage options that are valid in both the United States and Canada.
Spare parts coverage (up to $500), athletics coverage, liability coverage (up to $100,000), vehicle contact protection, rental reimbursement, and many other benefits are also available.
Additionally, if your e-bike battery is stolen or damaged in a collision, it too qualifies for coverage. Sundays Insurance does not specify the cost of its coverage, but you can choose a deductible from $200 to $500.
You may take your ebike anywhere to be fixed if something occurs to it thanks to Sundays Insurance.
5Simple Bike Insurance
They usually recommend an easy Bike Insurance policy if you have a growing collection of bicycles because it offers adjustable coverage, free protection for competitive cyclists, and—best of all—discounts for insuring several bicycles.
Simple Bike Insurance: Pros
- Across the board coverage is provided
- Several rebates are provided for policy savings
- Low-cost policies start at about $100 a year.
Simple Bike Insurance: Cons
- Limited options for client support
- The primary operator on the insurance should be at least eighteen years old
Ebike owners who need to cover several bikes might think about getting a policy from simple Bike Insurance. If you add numerous bikes to a single policy, the company offers a sizable discount, and you can qualify for the discount by insuring a variety of bikes, including ebikes, road bikes, mountain cycles, and cruisers.
Ebikes that are under 750 watts and 28 mph are eligible for coverage (with power assist). Simple Bike Insurance Plans offer a decent selection of coverage.
Among other things, you can purchase collision coverage, insurance, medical payments, worldwide bodily harm protection, wayside assistance, spare parts coverage, competition fee reimbursement, and replacement of a rented bike.
Policies include global physical harm protection and cover your bike anywhere in the United States and Canada. Simple Bike Insurance offers policies starting at just $100 a year, and you may choose a deductible between $200 and $500.
There are no repair limitations if your bike has to be fixed after a covered loss, and you can email a representative to submit a claim.
6Progressive
Owners of ebikes who currently have householders, renters, or dwelling insurance from Progressive will save money by adding Progressive’s bike insurance endorsement to their policy.
Progressive: Pros
- Reputable insurance provider with excellent financial stability
- Typically, endorsements are less expensive than separate plans.
- Online reporting tool for claims
Progressive: Cons
- In order to purchase ebike coverage, you must already be a Progressive customer.
- Excludes any information about evaluation, coverage restrictions, and deductibles
- There are none online
The only underwriter on our list that offers a bicycle insurance endorsement that may be added to an existing house, renters, or apartment policy is Progressive.
If you currently have insurance through Progressive, adding this endorsement to your coverage is simple and less expensive than purchasing a separate e-bike policy from a different provider.
When riding your ebike, a bicycle insurance endorsement from Progressive provides all the most important coverage you may possibly need. It covers property damage insurance, collision insurance, medical payments insurance, larceny and roguery insurance, and medical payments coverage.
However, it lacks a number of the benefits that other providers offer, such as spare parts coverage and edge support. The absence of information online about the cost of the bicycle insurance endorsement, the available coverage limits, or the available deductibles is one of the drawbacks of Progressive.
As a whole, we discovered that Progressive’s website on bicycle insurance lacked key information that a potential customer would want to know, such as whether or not you get to choose your own shop in the event of a covered claim and whether or not ebikes are covered abroad.
Final factual conclusions
Markel Insurance is the company that underwrites the majority of e-bike insurance plans.
While many e-bike insurance providers have some things in common, there are still some important differences, notably when it comes to starting price, coverage limits, policy options, and online features.
All things considered, we tend to suggest Velosurance to any e-bike owner who is looking for coverage. With Velosurance, you can get extensive coverage limits, unique insurance that cover the entire world, and membership cluster discounts.
Additionally, Markel Insurance, which has over 70 years of business experience, backs its coverage.