If you’re an e-bike owner, you’re likely making this misconception: since my e-bike looks like a bicycle, I should insure it like my bicycle. Many e-bike owners assume that their e-bike is covered under their home policy. Do you need extra insurance for your e-bike? Yes, and we have good reasons why.
What is an E-Bike, Anyway?
E-bikes look like bicycles, but they have a battery-powered feature that assists pedaling. This helps riders handle rough terrain or steep hills with relative ease. Most e-bikes have a max speed of 20 mph (some go up to 28 mph) and most states in the US regulate them like a normal bicycle. Surveyed riders report they are riding more because of the assistance they get from an e-bike. E-bikes are great for a commute to work, going on longer bike trips, carrying cargo, all while enjoying the scenery along the way.
The Case for Insuring an E-Bike
Home and renters insurance likely do not cover your e-bike, or at the very least could impose limits. There are likely exclusions for usage off your property or road use. You are going to be riding your e-bike on the roads, and a possible loss would likely be occur off your property. Therefore, getting an insurance policy for your e-bike is the best way to protect it.
What Can An E-Bike Insurance Policy Provide?
You will likely be looking at recreational insurance, or “toy” insurance for your e-bike. Here are some common protections found on a toy insurance policy:
- Protection against theft or accidents
- Coverage up to the actual cash value of the e-bike
- Coverage for accessories, carried contents, or safety riding apparel
- Roadside assistance
TL;DR: Yes, You Should Insure Your E-Bike
…and the team at Cincinnatus Insurance can help you. Bundled with your auto, home or renters insurance policy, a recreational toy policy is relatively inexpensive for the year. Ask us for a quote today, or notify your Cincinnatus Insurance Advisor to prevent financial disaster!