Do you need bicycle insurance for your e-bike? In this article, we'll go over eight reasons for getting bicycle insurance. Discover all eight by reading on.
The answer is that you require bicycle insurance if you own an e-bike and enjoy cycling, mainly if you invested a significant amount of money in your e-bike. Many of us do!
It's a common misconception that your beloved bike will be entirely covered by your home or contents insurance. However, most home and contents insurance policies have limitations in this area, and providers frequently have a strict list of requirements you must meet before they even consider paying you.
Therefore, even though purchasing bicycle insurance may not be at the top of your list when you buy your brand-new e-bike, doing so may save you a lot of money and hassle in the long run. It's time to consider getting bike insurance, primarily if you use your e-bike to get to work every day.
1. Electric Bike Insurance Protects Your Bike
Getting bicycle insurance has never been more crucial, with 77,000 bikes stolen in England and Wales in 2020–2021 and about 1.7 million bikes stolen annually in the USA.
With the appropriate policy in place, you will be protected for the price of replacing your bike up to a predetermined limit. Naturally, you'll want to insure your e-bike for the high sum it would cost to replace it if you have one.
Likewise, having a good bike insurance policy will cover any repair expenses if your bike is damaged, whether unintentionally or on purpose.
2. Maintenance Purposes
Many of us rely on our bicycles to get around, whether for errands, commuting to work, or visiting friends. E-bikes occasionally take the place of cars and are an excellent example. If something goes wrong, bicycle insurance could help you avoid stress.
A replacement bike service is usually covered by insurance. So you don't have to cancel any of your plans if your bike has been stolen or is being repaired in the shop. Continue cycling!
3. Electric Bike Insurance is Cheaper
If you already own an electric bicycle or are considering purchasing one, you know the sizeable investment required.
Because electric bikes frequently travel quickly and over long distances using complex mechanical, electrical, and computer-driven systems, they are more prone to damage or loss.
4. Get Compensation
Fortunately, fatal bike collisions are infrequent. But if the unexpected happens, having bike insurance guarantees you'll be compensated when you need it most. That financial security net lets you focus on recovering and rejoining the game.
5. No Exorbitant Legal Fees
You might want to file a lawsuit against the person at fault if you were in an accident that wasn't your fault. Specific bike insurance policies may cover any associated legal costs, assuring you to solve the problem quickly.
It's possible that you caused the accident (this can happen in congested city centres). Including third-party liability coverage with your bike insurance may be essential.
6. Insurance is Assurance
A firm bicycle insurance policy gives you peace of mind whether you're riding down the road, exploring a brand-new trail, or locking up your bike while stopping for a well-earned cup of coffee.
7. E-Bikes Carry Significant Risks
E-bikes require more liability protection. Because they move more quickly and are heavier than bicycles, electric bikes have a high potential for causing property damage or personal injury to others. Without insurance, an e-biker who caused the collision might be held personally liable and subject to crippling financial obligations.
8. Your E-Bike Has No Coverage from Your Other Insurance
Because an electric bike is considered a motorized vehicle, traditional homeowners and renter insurance policies typically offer little to no coverage (if any) for theft, damage, or liability related to e-bikes. Additionally, since e-bikes do not need to be registered and riders do not need a valid driver's license, auto insurance companies might not offer e-bike insurance.
It might be time to consider getting bicycle insurance if you don't want to be stuck without money and a means of transportation. With so many options available, check what each policy covers and what standards you need to meet to submit a valid claim. In the long run, it will be beneficial.
Are you looking for a foldable electric bike? The eelo 1885 EXPLORER Electric is ideal for train commuters, caravanners, motorhome owners, or boating enthusiasts. Take the hard work out of cycling and avoid the sweat with electric biking.
Please contact us promptly if you are considering purchasing a new folding e bike but are unsure which type to buy.