e-bike insurance in Vancouver, BC, Canada?

GaleL

Member
Region
Canada
City
West Vancouver, BC
Has anyone in Vancouver, BC, Canada purchased e-bike insurance?

Is there a company you can recommend for insurance on my first e-bike? I have heard of one, Pedal Power, but I haven't heard any news - positive or negative - about it.

Thank you.
 

Scona

New Member
Region
Canada
Has anyone in Vancouver, BC, Canada purchased e-bike insurance?

Is there a company you can recommend for insurance on my first e-bike? I have heard of one, Pedal Power, but I haven't heard any news - positive or negative - about it.

Thank you.
I insure it on my homeowners policy on vancouver island. Which leaves a deductible of $1000.00 to be paid on a loss.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
I insure it on my homeowners policy on vancouver island. Which leaves a deductible of $1000.00 to be paid on a loss.
Thank you, Scona! But my condo insurance company won't insure an e-bike. I live in an "equity condo." My insurance company is one of only two insurance companies in Vancouver that insure equity condos, so I can't switch. Specialized e-bike insurers offer better insurance for e-bikes than home insurance companies do.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
Pardon my ignorance. What is an 'equity condo'?
Thanks. CN
Most of the condos in New York City are "equity" co-ops. Vancouver, BC, Canada has only about a dozen. A condo is a private residence in a multi-unit structure that includes ownership of commonly used property. A co-op owner pays market value for an interest or share in the entire building, which is a corporation, and a contract or lease that allows the owner to occupy a unit. While a condo owner owns a unit, a co-op owner does not own the unit.

Or, from the following article, "When you buy a co-op apartment, you don’t actually own the physical space, like you would with a condominium (or a suburban home!). Instead, you become a shareholder in a corporation that is made up of everyone who lives in the building. To people outside of NYC, the idea may sound pretty out-there. But it’s hugely popular, and it has a lot of advantages — especially in the midst of a pandemic." Most of the huge, older, very expensive condos in New York City are equity co-ops. You have to be interviewed by the Board. I read that the board of one huge luxury equity condo turned down Cher's application.

It's not surprising that it's extremely difficult to get a mortgage to buy shares instead of actual property, eh? To get a mortgage on an equity condo, you need a large down payment. Only two insurance companies and two banks in Vancouver deal with equity condos. The insurance is quite easy and cheaper than strata condo insurance.

Now you know!
 
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EpicTwiglet

Member
For an alternative and to totally not answer the question, I recommend these rather than insurance.



I park mine in a garage in a quiet neighborhood overnight, and leave it in very busy areas when shopping or whatever. These options are not available for everyone of course.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
We are not allowed to keep our bicycles in our suites, and e-bikes are not covered under condo insurance policies, unless maybe under a rider.
 
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soyabean

Active Member
Region
Canada
We are not allowed to keep our bicycles in our suites
Since you are here in the forums, it looks like you are real passionate about owning an ebike.

You'll need to decide if keeping your property is worth all the problems you need to dance with said ebike.

This is akin to a pet lover that's living in a place that doesn't allow pets. You can fight all you want, you'll continue to put up with it if you have no intention to relocate.

Keeping on topic, I called my home insurance broker. The ebike is covered as a personal belonging. It may have been because I own a detached home with a heated garage, making theft of my bikes unlikely. Every day that I hear more and more "condo rules" reassures me that I will never sell my house.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
Since you are here in the forums, it looks like you are real passionate about owning an ebike.

You'll need to decide if keeping your property is worth all the problems you need to dance with said ebike.

This is akin to a pet lover that's living in a place that doesn't allow pets. You can fight all you want, you'll continue to put up with it if you have no intention to relocate.

Keeping on topic, I called my home insurance broker. The ebike is covered as a personal belonging. It may have been because I own a detached home with a heated garage, making theft of my bikes unlikely. Every day that I hear more and more "condo rules" reassures me that I will never sell my house.
"This is akin to a pet lover that's living in a place that doesn't allow pets." No, it's not. My condo building has a separate building made of concrete that is the bicycle bunker. All the residents with e-bikes and bicycles store them in that locked bunker. I follow my building's rules and bylaws.

Well, I sold the family home, where I kept my bicycle in the shed which was part of its basement. I live in West Vancouver, BC, which is the city with the highest per capita income in Canada. It's not crime-free, but close to it. It has a large police force with largely nothing to do. The police station is 2 blocks away from my building. I am very passionate about owning an e-bike. I also love ordinary bicycles, but I am recovering from hip replacement surgery and want something easier at this point in time, so that I can get some exercise and enjoy the outdoors. Vancouver is a city of bike trails, along beaches, up mountains, on sea walls. They are everywhere. The last mayor went a bit crazy with the bike lane thing, converting lanes on bridges and in the heart of our busy downtown into bike lanes and infuriating a lot of car drivers. Have you ever looked into real estate in the city of Vancouver or West Vancouver? The prices are the highest in Canada! A minimum of $1.6 million for a rundown slum.
 
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GaleL

Member
Region
Canada
City
West Vancouver, BC
What about owning a folding electric bike? Would you be allowed to carry a folding bike into your unit?
Yes, probably! A resident of this building owns a folding electric bike, which he keeps in his suite. BUT... my condo building has a separate concrete bicycle bunker at the far end of its parking lot - locked, of course! The residents keep their bicycles in it - some are very expensive e-bikes. There has never been a theft. The police station is 2 blocks away, and West Vancouver, BC, is not known for its crime. Rather, it's known for its lack of it. Thieves break into houses here; they don't steal bicycles.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
Since you are here in the forums, it looks like you are real passionate about owning an ebike.

You'll need to decide if keeping your property is worth all the problems you need to dance with said ebike.

This is akin to a pet lover that's living in a place that doesn't allow pets. You can fight all you want, you'll continue to put up with it if you have no intention to relocate.

Keeping on topic, I called my home insurance broker. The ebike is covered as a personal belonging. It may have been because I own a detached home with a heated garage, making theft of my bikes unlikely. Every day that I hear more and more "condo rules" reassures me that I will never sell my house.
Condos suck. But I have a gorgeous view, and I'm only 3 blocks from a beautiful beach. We have an indoor pool, an outdoor pool, a sauna, a whirlpool, an exercise room, a party and movie room, and it was built in the 1960s and considered THE luxury condo building at that time. Having said that, I prefer swimming in the ocean. Condo insurance is different from household insurance. NOT THE SAME. I've had both, by the way.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
Is this a recent thing like Seattle ? Always thought of your city to be crime free. Or is it the junkies?
A friend had 2 e-bikes stolen in downtown Vancouver (Gastown historic district) within 3 months. He sold his 3rd e-bike and bought a motorcycle.
 

GaleL

Member
Region
Canada
City
West Vancouver, BC
In Vancouver it's not if, but when your bike will be stolen.
True - if you live downtown. Downtown is full of addicts and low-lifes. Vancouver's city councils have been attempting to gentrify downtown's historic Gastown area, which is where a friend lives. He has had 2 e-bikes stolen within 3 months. He recently sold his 3rd and bought a motorcycle. Vancouver just recently got rid of the "homeless" tent city - 300 people - which was in a park just east of downtown. Most of those "homeless" drug addicts and low-lifes and thieves are now housed thanks to our local government.
 

soyabean

Active Member
Region
Canada
I live in West Vancouver, BC, which is the city with the highest per capita income in Canada.
Then it appears you have decided to endure and put up with your "condo problems".

If you can't get insurance for an ebike that is stolen from a condo locker, you may want to budget yourself for a regular replacement of ebikes when the theft occurs.