Compare electric bicycle insurance options and prices with Protect Your Family . Cycling under the influence of drink or drugs is illegal and will invalidate your insurance. 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. Markel Specialty, one of Markel Corporation’s four insurance divisions, Same goes for renters or condo insurance. Fortunately, our bicycle insurance is designed specifically for e-bikes to give you the peace of mind you deserve. eBike Insurance: compare cheap insurance quotes for electric bikes. Insure your electric bike against inconvenient events such as theft or accidental damage. At Markel Specialty, it is our people that make the difference. If you own an electric bicycle or are planning on buying one, then you know it’s a significant investment. Electric bicycles are a great way for people of all ages to be able to exercise for longer. 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). Mopeds are required to have insurance by law, so you’d have to pay for that too. All rights reserved. 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. 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. Additionally, there are insurance carriers that are offering stand-alone policies for E-Bikes. You may check this on the Financial Services Register by visiting the FCA website. Electric bicycle insurance; Bicycle insurance. If your bike’s properly secured, a bicycle insurance policy will cover you for theft and damage caused by vandals. Please try again in a few moments. If you take proper care of your ebike it will provide you with service much longer than any car or … Gocompare.com Limited is authorised and regulated by the Financial Conduct Authority (FCA) for insurance mediation activity under firm reference number 465053. Whether it’s the daily cycle to work or just a cycle on the weekend, we have you covered here with our bicycle insurance. It’s a risky move for your e-bike to be uninsured. 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. Gocompare.com Ltd. All Rights Reserved. We know how important it is to get the right cover to suit your cycle insurance cover requirements. GoCompare uses cookies. Without insurance, an e-biker who caused an accident could be personally responsible and face devastating financial liabilities. Bicycle physical damage insurance protection Covers repairs or replacement of your bike if it is damaged or goes missing. 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 … E-bike policies start at $100 per year and offer a variety of coverage levels and deductible options. Or call +1.800.236.2453 to speak with a bicycle insurance specialist. 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. Electric bike insurance is essential as they can be expensive to repair. 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 … 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. 5799376). Electric bikes can make commuting easier, but having good ebike insurance is essential. And this type of insurance is readily available through a variety of providers. Take action today and protect yourself and your e-bike. 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. Markel has taken great pride in being a consistent market for America's small businesses. Comparing E-bike policies is free, fast and simple. By using the website you agree with our use of cookies. Remember: For insurance purposes, electric bicycles are considered “motorized vehicles” and thus excluded from homeowners and renters insurance policies. 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. Get a fast, free online quote today and get the protection and peace of mind you deserve. Before you take out a specialist electric bike insurance policy, check your home insurance to see what cover you have for pedal cycles. Your coverage may fall short in all areas of coverage — damage, theft, liability and injury. Purchasing an electric vehicle is as exciting as purchasing a regular vehicle, if not more so. 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. 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. 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. Velosurance is a national bicycle insurance agency founded by two cyclists in response to the insurance needs of bicycle riders nationwide. A max speed, with power assistance, of 15.5mph: you can go faster, but only under your own pedal power. Electric bicycle insurance isn’t compulsory, but could you afford to repair or replace your bike? Coverage of spare parts, cycle apparel, and rental reimbursement are also included at no additional cost. Your home owners' insurance may not provide adequate coverage for your electric bicycle. Insuring your bike will allow you to make sure that you and your investment are protected. Most of bicycle insurance won’t cover electric bikes as electric bikes cost more than bicycles and they have different accidents and incidents. With an investment like that, you want to make sure you have adequate coverage for theft or damage. Liability & Uninsured Motorist: This is the most economical of all the electric … Bicycleinsurance.ie will cover the majority of bicycles, from road bikes, to racing bikes and mountain bikes to regular push bikes. Mountain bikes, pushbikes, road bikes, folding bikes, hybrids and electric bikes are all usually covered. 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. Markel is a holding company for insurance, reinsurance, and investment operations around the world. You pick the value limit of your bike, and we can cover things like vandalism, crash damage, or a collision with another rider. We can insure electric bikes that meet our e-bike specification (see "What type of electric bikes can cycleGuard cover?" 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. Additionally, roadside assistance is available, providing the cyclist a service vehicle ride of up to 35 miles. It might be worth checking your home contents policy or considering specialist insurance to see what cover you can get. 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. provided by. Each policy can be customized to fit you and your riding style. Compare electric bike insurance quotes to find cover to protect you from damage and theft. We love our bicycles as well as our bike trips in Ireland and abroad. Specialist bike insurance from cycleGuard Insurance for bikes, e-bikes and cycling accessories. Get quotes. We can only cover pedal assist electric bikes that assist up to 15.5mph and are limited to 250 watts. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. A deductible may apply and you’ll be covered up to the applicable limits of your home, condo or renters policy… 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. E-bikes have a greater need for liability coverage. 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. You’re typically protected if the bike is stolen (or vandalized) pretty much anywhere, including your home, garage, at the park, etc. Gocompare.coms relationship with i-Wonder is limited to that of a business partnership, no common ownership or control rights exist between us.†. If your bike is classed as a moped, then you’ll have to tax it and take a Compulsory Basic Training (CBT) course. underwrites innovative property and casualty solutions for both standard Compare travel insurance with medical conditions, Compare public liability insurance quotes, Compare electric bicycle insurance options and prices with i-Wonder[1]. Registered office: Imperial House, Imperial Way, Newport, Gwent, NP10 8UH, United Kingdom. Learn how you can start doing business with Markel Specialty. Your household insurance can, in some cases, also protect your electric bike. © 2020 Markel Corporation. Yes, we can insure e-bikes, although there are certain types of e-bike that we cannot cover. You can get personal injury cover with your electric bicycle insurance, which will give you a pay out if you’re hurt while cycling. Under personal property coverage on most home insurance policies, your bike may be covered for what it’s currently worth. Thank you for your continued patience and apologies for any inconvenience this may cause. 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. 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. Specialist low cost insurance rates for electric cycles. Electric bikes must comply with the Electrically Assisted Pedal Cycles - EAPC - (Amendment) Regulations 2015. [1]Gocompare.com introduces customers to i-Wonder, which is authorised and regulated by the Financial Conduct Authority. We're experiencing some technical difficulties. 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. Why buy an electric bicycle is a key question. 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. 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. Tools to help you grow your business with Markel Specialty. Gocompare.com Limited is registered in England and Wales (Company No. Our simple online quote form means you can tailor your pedelec quote. 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. 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: LightSpeed Electric Bicycle INSURANCE. Coverages include protection for damage caused by theft, crash, collision, fire, attempted theft, vandalism or hitting another object. It’s particularly popular for race and event cover, offering cancellation cover of up to … 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. and hard-to-place risks. 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. 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. Let’s see how e-bike insurance works in France and in Switzerland. The big advantage of riding an ebike is that you eliminate fuel and road tax costs. Come hear us speak at industry tradeshows or give us a call today. 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. Access to commercial and personal lines agent portals. 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. quickly and easily. It’s your move. 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. But to be 100% covered, you have to subscribe to specific guarantees. All electric bicycles, meeting these criteria will need third-party liability insurance. Electric bike insurance does exist and it provides coverage between auto, home, and renters insurances where there are gaps and fine print exclusions. Also, electric bike insurance premiums are typically very cheap. 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 … 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. 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. This article is intended for general informational purposes only regarding non-insurance matters and is not designed to provide professional advice. 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, … Markel's electric bicycle coverage protects the ebike from theft, damage and more. E-bike insurance is readily available and affordable. 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. 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. Our electric bike cover automatically includes any fire damage caused through an electrical fault. The DNA+ kit will prove a bicycle is stolen, increasing the risk to a would-be thief considerably, and act as a strong deterrent. Compare cheap electric bicycle insurance. In 2019 Department for Transport reported 16,873 cyclists killed or injured in reported road accidents. 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. 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. 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. 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. Electric bike insurance. We’ve teamed up with ‘Protect Your Family’ to help you compare cover from electric bicycle insurance companies. 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. Let’s take a closer look at why e-bike insurance is a good move. Get an instant quote and cover today. 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. Move for your e-bike to be uninsured additionally, roadside assistance is available, the! Is free, fast and simple is a good move bicycle is a holding company insurance... Why e-bike insurance policy that insures e-bikes with power assistance, of 15.5mph: you can start business... 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