Bike insurance

dmedic

New Member
Region
USA
Good day everyone, I just purchased an E-Bike and was wondering if anyone could give me suggestions or recommendations on buying insurance for it.
 

Tars Tarkas

Well-Known Member
I have Markel. Check out their website. They can tailor your coverage to whatever you want, from simple theft, to medical and liability, etc. I think they look very good on paper. I haven't had to file a claim.

TT
 

dmedic

New Member
Region
USA
Thank you for your quick response. I will look into both and I will share the pros and cons for sure.
 
Region
USA
My insurance company (Auto-Owners Michigan) requires that my ebike be insured under my auto policy.

Originally it was insured under my homeowners insurance. I read in this forum where the owner of a Class 2 bike had his bike stolen. When he filed a claim the insurance company denied his claim because it should have been insured as a motorized vehicle because it had a throttle (Class 2).

After reading this, I decided to look deeper into what my coverages were on my ebike. At the time, it was insured under my home owners policy. I sent an email to my agent confirming what I was told my coverages were. My agent decided to contact the insurance company to confirm what coverages I had. As it turns out, the company underwriter indicated my ebike would not be covered by my homeowners policy in the event I had a claim. The underwriter told my agent that my ebike must be insured on my auto policy.

So.....had I been involved in a collision there was no coverage. Also no coverage if the bike was stolen. My agent made a mistake.

If your agent does not put your ebike in the proper category (like mine was), and you have an accident or theft, your only recourse is to sue the agent which would be very expensive.

However, and most importantly, I had no liability coverage should I be at fault in a collision and injure or kill someone. I could then be sued and most likely lose part or all of my assets!

Everyone should confirm what they believe their coverages are on their e-bike and get that in writing!

I now have my ebike covered under my auto policy. My coverages are, comprehensive $100 deductible, collision $500 deductible, liability $500,000.

I cannot stress how important it is in my opinion, that you have liability insurance coverage for your ebike.

I would recommend you contact your insurance agent and get a quotation. Independent companies like Markel, Velosurance and others write bicycle insurance. I have obtained quotes from both of these companies and have found their rates were significantly higher than the coverage I have under my auto policy.

This is how my insurance company here in Michigan insures ebikes. Other insurance companies that insure ebikes in Michigan may have different policies.

Also, each state has different insurance laws on how ebikes are insured.
 

ruffruff

Well-Known Member
I called my agent last week and they said they could insure them as miscellaneous vehicles. I have not returned the call yet to see what exactly this entails, but I will next week and post their response.
 
Region
USA
I called my agent last week and they said they could insure them as miscellaneous vehicles. I have not returned the call yet to see what exactly this entails, but I will next week and post their response.
If you have any questions regarding what your policy covers, ask your agent and get the answers in writing. In my situation, the agent had my ebike insured under my homeowners policy which was not correct. If I had a claim, my insurance company would have denied it!
 
Region
USA
Definitely going to get it in writing.
Thanks for the insights, since my ebike is what we call our second car and we already save so much not having two cars, I also like the idea of getting it insured. Less concerned about theft and more concerned about liability should I get in a crash and hurt someone. I have auto insurance with progressive I believe so will ring them up today and report back too.
 
Region
USA
Thanks for the insights, since my ebike is what we call our second car and we already save so much not having two cars, I also like the idea of getting it insured. Less concerned about theft and more concerned about liability should I get in a crash and hurt someone. I have auto insurance with progressive I believe so will ring them up today and report back too.
It is a personal choice whether or not to carry liability insurance on your e-bike. In this crazy world where there are so many lawsuits being brought for pain and suffering, it makes sense to me to protect yourself by having an appropriate amount of liability insurance. In my situation I pay $0.12 per day. This protects me against Bodily Injury - $500,000, Residual Property Damage - $500,000, Residual Uninsured Motorist - $500,000, and Underinsured Motorist $500,000.

Please let everyone know how your insurance company recommends you insure your e-bike.
 

rbeckert

New Member
Region
USA
Good day everyone, I just purchased an E-Bike and was wondering if anyone could give me suggestions or recommendations on buying insurance for it.
I have my Riese and Muller 2021 ROADSTER VARIO insured with NATIONWIDE INS. I have my home and a MAZDA CX5 insured with them, also. They wrote up my ebike on a RECREATIONAL VEHICLE POLICY for $267.04 a year. The policy covers LIABILITY (Bodily injury; Property damage; Personal Injury Protection; Medical Payments; Uninsured/Underinsured). PHYSICAL DAMAGE (Replacement Cost(!); Comprehensive (fire and theft; $500 deductible); Collision ($500 deductible); Custom Equipment (up to $3,000)). It also has a "Vanishing Deductible" of $100 a year so after the 5th year there would be no deductible for a claim. Basically, just like automobile insurance even if I cause an accident with my ebike and say, 2 other vehicles sustain damage with injured passengers, I'm covered. Plus, the "Replacement Cost" replaces my ebike, even if it's 3 years old, with a new ebike!
 
Region
USA
I have my Riese and Muller 2021 ROADSTER VARIO insured with NATIONWIDE INS. I have my home and a MAZDA CX5 insured with them, also. They wrote up my ebike on a RECREATIONAL VEHICLE POLICY for $267.04 a year. The policy covers LIABILITY (Bodily injury; Property damage; Personal Injury Protection; Medical Payments; Uninsured/Underinsured). PHYSICAL DAMAGE (Replacement Cost(!); Comprehensive (fire and theft; $500 deductible); Collision ($500 deductible); Custom Equipment (up to $3,000)). It also has a "Vanishing Deductible" of $100 a year so after the 5th year there would be no deductible for a claim. Basically, just like automobile insurance even if I cause an accident with my ebike and say, 2 other vehicles sustain damage with injured passengers, I'm covered. Plus, the "Replacement Cost" replaces my ebike, even if it's 3 years old, with a new ebike!
Thanks for sharing. Looks like excellent coverage for the money.