About Ebike Insurance
Ebike insurance in America protects your bike from theft, damage, and accidents. Even if you have homeowners or renters insurance, ebikes are frequently excluded from coverage, and some policies completely ban coverage for ebikes.
There aren’t many ebike insurance companies on the market because ebikes are a relatively new trend. The best providers, on the other hand, provide collision coverage, theft protection, liability insurance, and excellent customer service. The best were chosen based on policy options, coverage limitations, distinctive features, ebike insurance cost,ebike insurance quote,and savings.
The Best Ebike (Electric Bike) Insurance in 2022
- Best Overall: Velosurance
- Best Affordable Option: Spoke Insurance
- Best for High Coverage Limits: McClain Insurance
- Best for International Travelers: Sundays Insurance
- Best for Multi-Bike Policies: Simple Bike Insurance
- Best for Bundling Options: Progressive
Best Overall Ebike Insurance : Velosurance
There aren’t many ebike insurance firms on the market because ebikes are a relatively new trend. The best providers, on the other hand, provide collision coverage, theft protection, liability insurance, and excellent customer service. The best were chosen based on policy options, coverage limitations, distinctive features, and discounts.
We chose Velosurance as the best overall ebike insurance provider because its coverage is unrivaled. A regular policy covers theft, collision and accident damage, transport damage, roadside assistance, medical payments, and much more. Your bike is insured anywhere in the world, and for a modest cost, the firm can boost your coverage limit while you’re on the road.
You can acquire liability coverage from Velosurance with limits of $25,000, $50,000, or $100,000 per incident. However, no information about coverage limits for other insurance is included, nor is information about premiums or deductibles disclosed online.
Replacement bike rental coverage, bike airplane shipping coverage, and racing coverage are some of Velosurance’s standout specialized features. Velosurance also boasts a countrywide network of bike shops, making it simple to locate repair experts in your region if your ebike has to be repaired following a covered claim.
Members of USA Cycling, USA Triathlon, and the International Mountain Bicycle Association can also get insurance reductions through Velosurance (IMBA). Because Velosurance solely sells bike insurance, there is no way to combine multiple policies.
One thing to keep in mind about Velosurance is that it does not write its own policies. It collaborates with Markel, a reputed insurance firm with an A rating from AM Best.
Although Velosurance is generally distributed, it is not available in every state.
You can acquire a quotation by filling out the online form or calling an agent. If you want to speak with an agent before acquiring coverage, you can do so during office hours by phone, email, or live chat.
Pros:
- A wide range of coverages are available, including some specialist policies.
- Membership organizations are eligible for discounts.
- National network of repair shops
Cons:
- You won’t be able to acquire an instant quote online.
- There is no pricing or deductible information on the website.
- Not accessible in all states
Best Affordable Option: Spoke Insurance
Spoke Insurance provides dependable ebike insurance in USA starting at just $100 per year, therefore we recommend it to any ebike user seeking for a low-cost policy.
Spoke Insurance was chosen as the best ebike insurance provider for reasonable coverage. Premiums start at $100 per year, making it one of the most affordable providers we looked at. You can choose a deductible ranging from $200 to $500 every claim, and choosing a bigger deductible can cut your cost even further.
Spoke Insurance will cover any ebike with a top speed of less than 28 miles per hour. And as long as your ebike produces less than 750 watts, you’ll be covered.
Collision insurance, theft insurance, spare part coverage (up to $1,000), bike replacement cost coverage, medical payments coverage (between $1,000 and $10,000), liability coverage (between $25,000 and $100,000), bike rental reimbursement, and transit protection are all standard policies from Spoke Insurance. For an additional $12 per year, you can add emergency roadside assistance with up to 35 miles of towing, and if your bike need repairs, you may take it to any shop you like.
Unfortunately, Spoke Insurance is not accessible in all states and does not provide free worldwide coverage. If you plan to ride your ebike abroad, the organization can assist you in obtaining a worldwide physical damage insurance policy for your trip.
Spoke Insurance does not create its own policies; instead, it offers insurance through Markel. One of the primary drawbacks of Spoke Insurance is that you must have a Markel house or renters insurance coverage in order to purchase an ebike policy.
You can acquire a quotation online, but if you have questions about your coverage, you’ll need to call an agent directly. If you are a current customer, a Markel agent may also provide more information about multi-policy discounts.
Pros:
- Policies offering coverage begin at just $100 per year.
- Excellent coverage with broad limitations
- There are low-deductible choices available.
- Submit a quote using the Markel website.
Cons:
- There are no available discounts.
- Only available to Markel homeowners and renters insurance clients.
- Global coverage is not free.
Best for High Coverage Limits: McClain Insurance
McClain Insurance provides high-coverage-limit ebike insurance policies in USA, which are suitable for ebikers looking for additional peace of mind and financial security in the event of an ebike accident.
McClain Insurance provides the most coverage limits of any ebike insurance provider we examined. Up to $500,000 in liability and uninsured motorist coverage is available. Furthermore, basic ebike insurance policies offer property damage and medical costs coverage, but policy limitations are not indicated online.
Although McClain Insurance provides high coverage limits, the available coverage is somewhat limited, especially when compared to some of the other companies we studied. The company makes no mention of any distinguishing characteristics, like as roadside assistance, worldwide coverage, travel protection, or replacement cost coverage.
On a more positive note, we like that McClain’s ebike insurance premiums are reasonably priced. Ebike policies begin at $250 per year, according to the website. However, you must contact an agent to find out what deductibles are available.
In terms of customer service and claims processing, the only means to contact a representative are through phone or email. There is an online quote request form, but an agent must contact you with your results.
Another factor to consider with McClain Insurance is that ebike insurance is only available in a few states. To purchase a policy, you must currently reside in Washington, Oregon, Idaho, or Arizona. Your insurance will cover an ebike everywhere in the country, but there is no mention of overseas coverage.
An ebike coverage from McClain Insurance may be underwritten by one of its partner providers depending on where you live. Although the firm does not publicize policy bundling opportunities, if you purchase auto or home insurance through McClain, you may be eligible for a multi-policy discount.
Pros:
- Premiums are affordable, with a starting rate of $250 per year.
- Certain insurance have high coverage limits.
- Your coverage is always up to date with an annual “Five Minute Insurance Checkup.”
Cons:
- In comparison to other providers, coverage is extremely limited.
- Not accessible in all states
- There are few third-party reviews, and there is no AM. The highest financial strength rating
Best for International Travelers: Sundays Insurance
Sundays Insurance provides excellent worldwide bike coverage, so you never have to worry about your ebike being damaged, stolen, or lost in a cargo hold if you take it on an international trip.
Sundays Insurance is our recommendation for the best worldwide ebike insurance. You can get airline shipping coverage and physical damage coverage while going abroad if you acquire a worldwide extension to your policy. The only drawback is that you must pay for the extension in order to enjoy these benefits.
Sundays Insurance’s ebike insurance policy contains a number of other policy options that are valid in the United States, the United Kingdom, and Australia. Spare parts coverage (up to $600), racing coverage (optional), rental reimbursement, and many other benefits are available. Furthermore, your ebike battery is covered if it is stolen or destroyed in a collision. Sundays Insurance will let you to take it to any repair shop.
Sundays Insurance, like most ebike insurance providers, does not let you to combine your policy because it solely sells bike coverage. There is a multi-bike discount available from the company.
One of the nicest aspects of Sundays Insurance is that Strava members can obtain exclusive benefits. For example, if you wreck your ebike while recording an activity in the Strava app, Sundays Insurance would reimburse you up to $600 to replace or repair the recording device.
Another thing we appreciate about Sundays Insurance is that you can get a quotation, buy a policy, and even file a claim without having to phone an agent. If you need to contact the company during business hours, you can call, email, or use live chat.
Tokio Marine underwrites Sundays Insurance policies. Coverage is available nationally, although policy availability and Strava benefits differ by state.
Pros:
- Options for comprehensive coverage, including some unusual policy options
- It is simple to obtain a price, purchase policy, and file a claim online.
- Strava members receive free benefits.
- Ebike batteries are covered under a normal policy.
Cons:
- There is no free worldwide coverage.
- Coverage limits are relatively low.
- Not accessible in all states
Best for Multi-Bike Policies: Simple Bike Insurance
If you have a growing bicycle collection, we recommend Simple Bike Insurance’s insurance, which offers adjustable coverage, free protection for competitive riders, and, best of all, discounts for insuring several bikes.
Ebike owners who want to protect numerous bikes can look into a Simple Bike Insurance package. If you add numerous bikes to the same policy, the company offers a large discount, and you can get the discount for insuring a combination of bikes, such as ebikes, road bikes, mountain bikes, and cruisers. Ebikes are covered as long as they are less than 750 watts and go at less than 28 mph (with power assist).
Simple Bike Insurance packages provide a wide range of protection. Collision insurance (up to $10,000), liability insurance (up to $25,000), medical payments (up to $1,000), worldwide physical damage protection, roadside assistance coverage, spare parts coverage (up to $1,000), competition fee reimbursement, and rental bike replacement are all available. Policies offer worldwide physical damage protection and cover your bike anywhere in the United States and Canada.
Simple Bike Insurance policies start at just under $100 per year, with deductibles ranging from $200 to $500. You can file a claim by emailing an agent, and there are no repair limits if your bike has to be repaired after a covered loss.
Simple Bike Insurance offers a discount to select membership organizations in addition to the multi-bike discount. If you are a member of USA Cycling, USA Triathlon, or the IMBA, you can get a 10% discount on your rate.
Another advantage of Simple Bike Insurance is that you can easily obtain a quotation online; but, if you have issues about coverage, you must either call an agent or fill out the online assistance form.
Markel Insurance underwrites Simple Bike Insurance policies, and coverage is available in all 50 states. Because the company exclusively sells bike insurance, you won’t be able to combine your plans.
Pros:
- There is countrywide coverage.
- Several policy savings offers are available.
- Low-cost insurance begin at $100 per year.
Cons:
- The policy’s primary operator must be at least 18 years old.
- Customer service choices are limited.
Best for Bundling Options: Progressive
Owners of ebikes who currently have homeowners, renters, or condo insurance can save money by insuring their ebike with Progressive’s bike insurance endorsement.
Progressive is the only insurer on our list that provides a bicycle insurance endorsement that may be added to an existing homeowners, renters, or condo insurance policy. If you already have Progressive insurance, adding this endorsement to your policy is simple, and it may be less expensive than obtaining a separate ebike policy from a different carrier.
Progressive’s bicycle insurance endorsement provides all of the essential coverage you’ll need when riding your ebike. Collision insurance, medical payments coverage, theft and vandalism coverage, liability insurance, and property damage coverage are all part of it. However, it lacks several of the benefits offered by other carriers, such as spare parts coverage and roadside assistance.
One disadvantage of Progressive is that there are no specifics online regarding how much the bicycle insurance endorsement costs, what coverage limits are offered, or which deductibles are accessible.
Overall, we discovered that Progressive’s bicycle insurance page lacked critical information that a prospective client would want to know, such as whether you can choose your own repair shop in the event of a covered claim and whether ebikes are covered abroad.
Because Progressive’s bicycle insurance is sold as an endorsement, you must contact an agent to add it to your policy. A representative is available by phone or email 24 hours a day, seven days a week.
Progressive is one of the market’s most well-known insurance businesses. It has exceptional financial strength, having an AM Best rating of A+.
Progressive is one of the only ebike insurance firms that writes its own policy.
Pros:
- Reputable insurance company with strong financial standing
- Endorsements are typically less expensive than standalone policies.
- Tool for reporting claims online
Cons:
- To acquire ebike coverage, you must already be a Progressive client.
- There is no mention of pricing, coverage restrictions, or deductibles.
- There are no online quotes.
Summery
Markel Insurance underwrites the majority of ebike insurance plans. While many ebike insurance providers are comparable, there are some significant variances, particularly in terms of starting pricing, coverage limits, policy options, and online features.
Overall, we suggest Velosurance to any ebike owner in need of insurance. Velosurance offers generous coverage limits, one-of-a-kind insurance with global coverage, and membership group savings. Furthermore, Markel Insurance, which has over 70 years of industry experience, backs its policies.
