Electric Bike Insurance: How to Ensure You Are Safe and Covered

By Lisa Buehner, CPRIA, CISR Elite

Imagine the perfect spring day: It’s 70 degrees, the sun is shining, birds are chirping, and the wind is whipping through your hair as you test drive your new electric bike!

The last thought on your mind is that this perfect day could turn into a tragic event.

But what if you crash into someone’s fancy car or accidentally run into a pedestrian who sustains serious injuries? Additionally, lithium batteries like those in e-bikes have been known to catch on fire.

Do you know how or if your insurance would respond in the event of a loss?

About 300 million e-bikes were in use worldwide. As environmentally friendly modes of transportation that reduce wear and tear on vehicles and provide both fun and exercise, it’s easy to see why they’re a growing method of transportation. However, with this newer trend comes an increase in liability exposure.

Because the cost of a new e-bike can be substantial, starting around $500, it’s easy to understand why most new e-bike owners are looking to insure their financial investment. However, they should be equally or even more concerned with protecting their liability.

A homeowners’ policy provides coverage for damages and liability while riding a regular bicycle. Since e-bikes can run on electric power as well as your own pedal power, they are classified as motorized vehicles and may be subject to certain exclusions under a homeowners’ policy.

Furthermore, since most e-bikes are not registered for road use, some insurance carriers are unable to schedule these on a motor vehicle policy. This catch-22 may force you to purchase a specific e-bike insurance policy if your current carrier does not offer a solution.

Don’t make assumptions about your coverage.