Understanding eBike Insurance
eBike insurance is a specific type of insurance coverage that is designed to protect electric bicycles or eBikes.
eBike insurance is a specific type of insurance coverage that is designed to protect electric bicycles or eBikes. It is similar to traditional bicycle insurance, but it is specifically designed to cover the unique risks associated with eBikes. E-bikes are a popular and increasingly popular mode of transportation, but they can also be expensive to replace or repair if something goes wrong. eBike insurance can help protect your investment and give you peace of mind while you're out on the road.
An eBike is a bicycle with a battery-powered electric motor that offers assistance when pedaling or by using a throttle. Many modern bikes come with multiple gears to make pedaling easier, but eBikes improve upon this, making pedaling nearly effortless or even optional if the bike is equipped with a throttle. To be applicable for insurance, eBikes must typically be either class 1,2, or 3.
Class 1 eBikes are pedal-assist eBikes that provide a boost of power up to 20 mph. These bikes are typically used for commuting or leisurely rides.
Class 2 eBikes are also pedal-assist, but they provide a boost of power up to 28 mph. These bikes are often used for longer rides or hilly terrain.
Class 3 eBikes are also pedal-assist, but they provide a boost of power up to 28 mph and have a maximum power output of 750 watts. These bikes are often used for long-distance rides or more challenging terrain.
See our in-depth article on eBikes for more information.
As the popularity of electric bikes has increased, so has the confusion about whether or not they're covered under homeowners or renters insurance policies. This is a critical topic for eBikes considering their high price.
Coverage varies by the insurance company but for many, eBikes are considered "motorized" vehicles and, therefore, excluded from any coverage on homeowners or renters policies.
In addition, most standard homeowners and renters insurance policies provide liability protection for incidents arising from using standard bicycles. Yet there is often no liability coverage for eBikes with either homeowners or auto insurance. Therefore, you could be left with a large bill to pay if you injure somebody or cause damage when using your eBike.
The short answer is no, e-bikes are not required to have insurance by law, provided that your e-bike qualifies as an electric bike under current US law and regulations. While e-bikes are not required to have insurance by law, it's important to understand that they are still vulnerable to accidental damage and theft. E-bikes are normally expensive, and replacing one can be a significant financial burden if you don't have insurance.
A basic eBike insurance policy includes coverage for the most common risks, including theft, crash damage, and spare parts. You can also find policies, such as those with Oyster, that provide medical payment and liability protection. If your electric bike is stolen or damaged in a collision, insurance can help cover the cost of replacing it or any repairs that are needed. Similarly, if you are involved in an accident, insurance can help cover the cost of damages or injuries to yourself and others. See the product page for more information on what is included with eBike insurance from Oyster.
Normal wear and tear is not covered by eBike insurance. This includes things like flat tires, worn brakes, or other routine maintenance issues. If your electric bike has a pre-existing condition, such as a faulty battery or malfunctioning electronics, it will also not be covered by e-bike insurance. Likewise, if you intentionally damage your eBike or cause harm to it.
These are just some examples, it is important to carefully review any exclusions in your policy documents to ensure you understand the policy fully.
Warranty protection can provide some level of protection for your electric bike, but it is generally not a substitute for eBike insurance. Warranty protection typically covers defects in materials or workmanship and may not cover damages or losses caused by accidents, theft, or other unexpected events. E-bike insurance, on the other hand, can help protect your electric bike against a wide range of risks and may provide more comprehensive coverage.
There is no real "average" policy as many factors affect the price of insurance e.g. type of bike, price of the bike, how you use it, etc. That being said, insurance is a small price to pay to make sure you are protected should the unthinkable happen and you crash your bike, or it's stolen whilst you're out and about.
It takes less than 2 minutes to get a quote for a policy with Oyster, so that's the best way to find out exactly how much insurance will cost you.
A high-quality U-Lock or quality-tested lock and chain can make all of the difference - we recommend a Sold Secure Gold or Diamond lock. These bike locks are recognized as the industry standard for properly protecting your bike. You could also consider a smart lock, but it is important to understand the pros and cons.
A determined thief can still break into even the strongest locks, so taking any additional precautions is also important (e.g. multiple locks). It is really important to not use a cable lock to secure your bicycle, as these locks can be easily cut with a low-price bit of kit, so offer minimal protection.
Join Oyster today to learn how you can be properly protected from the unexpected things in life.