Do I Need Insurance to Ride Electric Bike?

Easy E-Biking - broken e-bike street, helping to make electric biking practical and fun

Like any other item you own, insuring your electric bike, or e-bike, is crucial to protecting your investment. Having the right protection for your bike can make all the difference in how you use your e-bike.

Do I need insurance to ride an electric bike? In May 2018, the European Commission proposed a mandate that all e-bikes must be insured if they are the regular 25 km/h 250 W or faster e-bikes. All electric bicycles, meeting these criteria will need third-party liability insurance.

And this type of insurance is readily available through a variety of providers. Insuring your bike will allow you to make sure that you and your investment are protected.

Deciding what type of insurance you need for an e-bike can require quite a bit of research. Read on to know more about why e-bike insurance is necessary and where to get insurance from.

Why it makes sense to insure your e-bike?

There are a number of reasons to insure your e-bike. In addition to the costs and risks associated with owning an e-bike, insurance for e-bikes is now compulsory, at least, in Europe.

Compulsory e-bike insurance

The European Commission recently proposed a mandate that all regular e-bikes 25 km/h – 250 W or faster must have third-party liability insurance. They did this in order to promote sustainable mobility.

The attempts of the European Union to differentiate between e-bikes by speed is an effort to determine which are e-bikes and which are regular bicycles. A regular e-bike has an assisted motor (a 250-watt battery powered). This is also around the power of a good cyclist. While a good cyclist could not typically go faster than 25 km/h, the e-bike can. Thus, the e-bike needs increased protections that allow everyone involved to stay safe.

Read also: Best specialized e-bike insurance companies in the USA, UK, Canada, Australia.

The European Commission demonstrates through this differentiation of speed and power that e-bikes and regular bikes are not the same. Other motorized vehicles such as motorcycles and cars both require automotive insurance, so this is merely extending the same concept to the power-assisted bicycle.

The European Commission has moved to have it defined as a motorized vehicle because it necessitates third-party insurance – even though it is rarely involved in third-party crashes.

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Considering e-bike risks

Although the European Commission found that e-bikes are rarely involved in third-party crashes, that doesn’t mean that risks don’t exist at all. E-bikes travel faster than regular bikes which means they have the potential to cause more harm to the rider, pedestrians, or property if there happen to be any crashes. E-bikes are also heavier, which means all of the above also rings true.

Read also: Are electric bikes dangerous? What are e-bike risks? And, How safe are electric bikes?

Should you get into an e-bike accident without insurance, the risks for the damages you may be responsible for can be significant. The financial liabilities alone could be devastating before considering whether or not you may be hurt from the accident itself. The risks are too great to consider not insuring yourself and your e-bike from harm.

E-bike expenses

The cost of your e-bike is the likely one that you’re familiar with because you probably paid for it in the first place. E-bikes prices are steep, and the significant investment is one you’ll absolutely want to protect.

Even beginner e-bikes are in the thousand-dollar or euro range, which means that as you slowly look to improve the type of bike that you’re riding, you’re looking at major amounts of money.

The money isn’t without reason though. E-bikes are complex with the systems within them that drive their motor; mechanical, electrical, and computer. In the end, you’ll get what you pay for. Yet, you don’t want to make your investment susceptible to unnecessary damage.

Read also: How much does it cost to own an e-bike? And, What is the difference between cheap and expensive e-bikes?

Protecting your e-bike through insurance is the best way to protect your investment. Even though it is compulsory, it’s a great benefit to you and you’ll want to make sure you shop around for the correct type of specialized insurance before you settle on one type. Doing the proper research is the best way to make sure you get a great deal and protect your investment.

Easy E-Biking - Cowboy electric bike, helping to make electric biking practical and fun

Specialized e-bike insurance

Protecting your e-bike isn’t difficult these days because there are so many different ways to do it. E-bike insurance is available and affordable. Part of the reason that the European Commission instituted mandated coverage for e-bikes is that there are gaps between auto, home, and renter’s insurance.

Luckily, there are stand-alone policies that are available to help you cover any potential thefts, damages or more that may come your way. Keep reading for the top eight e-bike insurers available!

  1. PedalSure (link to website)
  2. CyclePlan (link to website)
  3. Yellow Jersey (link to website)
  4. Assetsure (link to website)
  5. The Insurance Emporium (link to website)
  6. ETA Cycle (link to website)
  7. E & L Cycle (link to website)
  8. Lexham (link to website)

All of the above are providers that offer specialized e-bike insurance plans that can assist you in finding exactly the coverage that is exactly right for you. While each plan is slightly different, it can ensure that you find the best fit for your needs, how often you ride, where you ride, and the type of rider you are.

Here are some good ways and factors to think about when picking an e-bike insurance policy:

Personal accident insurance:

If you have an accident on your e-bike, the absolute last thing you want to worry about is how you’re going to fix it. If you have a personal accident section included in your policy, then you’ll receive a lump sum payout if you are seriously injured after an accident on your bike. This can help ease your mind no matter what happens.

E-bike theft insurance:

This is always a worry whenever a bike comes into the picture. Bikes are often stolen when locks are cut, so be sure to insure your e-bike against this risk. A theft section in your policy will cover the cost of a replacement bike if yours is stolen. This is essential if your e-bike is in that thousand-dollar range.

Read also: Are electric bikes good for the environment? And, Are electric bikes safe?

Third-party liability:

This is likely what you first think about when someone says “e-bike insurance.” If you were to cause an accident while reading your e-bike, third-party liability would cover the cost of any damages that you caused. With a motorized bike, this is important because whether or not you think it will ever happen, it can happen to any and all of us.

Malicious or accidental damage:

Accidents and vandalism happen. It’s not your fault, but you certainly want to be able to fix it when it does occur. Make sure you get a policy that covers malicious and accidental damage so you can keep your e-bike in tip-top shape no matter what happens.

All of the above are important to have in your e-bike insurance policy to ensure it is specialized to you. There are also add-ons that your policy may offer to increase your coverage. If you’re riding your bike abroad, need accessories like GPS, or are concerned about bicycle breakdowns, be sure to inquire about e-bike insurance extras.

The most important thing when selecting an e-bike insurance policy is doing your research beforehand. You want to make sure that you get the policy that is right for you. Don’t rush the process. You’ll thank yourself in the long run because insurance can be pricey if you don’t use it, but good insurance can also be life-changing at the right moment.

Easy E-Biking - TREK e-bike on a bridge, helping to make electric biking practical and fun

Related questions

Is insurance compulsory if my e-bike is slower than 25 km/h 250 W?

No, in this case, insurance is not compulsory because 25 km/h 250 W is around the speed that a cyclist could go on their own. Any faster, insurance is needed to protect those involved in any potential risks and accidents.

How much would monthly insurance cost for an e-bike?

Monthly insurance for an e-bike can really vary depending on your policy. However, what you should know is that e-bike insurance is affordable.

You could be looking anywhere from 2 to 6 euros per month for your e-bike insurance, which is certainly worth paying for any of the risks mentioned above. Always insure yourself before a problem occurs instead of after the fact.

Why can’t I just insure my bike through my household insurance policy?

Unfortunately, insuring your bike through your household insurance policy often just isn’t an option. Your coverage won’t extend that far and there are gaps in the coverage. In order to meet the European Commission’s mandate, you must have specialized e-bike insurance from a company like the above.

Read also: What are traditional e-bike and speed e-bike rules and regulations in the US, UK, Canada, Australia?

These companies (and many like them) have worked to design specific e-bike policies to accommodate the needs of everyday riders. You’ll be better protected by using one of these policies, and if there ever is an issue then you definitely won’t regret doing so.

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