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Bike Insurance? Does your electric bike need insurance?

Whilst ensuring your electric bike is not compulsory in England, there are numerous reasons to consider insuring your new ride. It is highly recommended to find a suitable policy in the event that you have an accident, which leaves you and your bike with a public liability cover as well as protection against theft and damage.

 

 

Keep your investment safe

Purchasing an electric bike is a significant investment you want to protect. There are different policies available on the market and you might want to shop around for the coverage that is right for you.

Assuming your home insurance policy provides the right cover is risky as you may only be covered while the bike’s at home. It is worth checking how much cover you are likely to receive as there are some strict conditions and limitations. Whereas specialist electric bike insurance policies often offer higher amounts of cover.

 

 

Electric Bike Insurance Cover

There are different policies available and factors you should consider when comparing ebike policies to find the coverage that is right for you:

  • Theft
  • Accidents and vandalism
  • Third-party liability insurance
  • Replacement cycle hire
  • Cycle rescue
  • Personnel accident
  • Other riders cover
  • Cover for accessories

 

 

Tips to prevent your electric bike from theft

Bike thefts reported to BikeRegister rose by 48% in June, compared to last year, so here are some tips to prevent your electric bike from being stolen in the first place:

  • Register your bike online
  • Invest in a high-quality lock
  • Protect your bike with an ImmobiTag identification chip
  • Store your bike in a secure location covered by CCTV
  • Unlock and remove your battery when you lock it up
  • Secure your bike in a different location every day
  • Don’t leave it parked in public for long periods of time
  • Failing to protect your bike adequately can also result in your insurance protection being invalidated.

 

The cost of specialised electric bike insurance is generally affordable but will vary depending on your policy and the add-ons that your policy offers to increase your coverage. Being on the safe side is always best as the damages you may be responsible for in the case of an accident can be significant.

 

 

Find more information about our UK theft and damage insurance packages here

 

 

Ebike Insurance – Everything you need to know

Once you’ve bought an ebike, you’ll want to make sure it remains safe and sound. Whether you’re accident-prone or wary of having your ebike snatched, insurance will give you peace of mind and ensure you’re not out of pocket when misfortune strikes. Here’s our short guide on what you need to know when buying ebike insurance. 

 

 

What does ebike insurance cover? 

As with any type of insurance, the devil is in the detail. Each policy has different levels of coverage and limitations, so make sure to read the fine print before you buy. At a general level, though, you’ll want your policy to include things like Malicious or Accidental Damage, Theft, Personal Accident, and Third Party Liability. Here’s what they generally cover, and some common limitations to look out for. 

 

 

Malicious or Accidental Damage

This aspect of the insurance will cover you for damage to your ebike, caused by yourself (through an accident) or others (either through an accident or vandalism). 

What’s not covered

Malicious or accidental damage is restricted to ‘unexpected’ damage – not the usual wear-and-tear of the bike. If you’re unlucky enough to hit a pothole and come off, for example, the insurance will probably protect you against any necessary repair costs. A burst tire, worn thin over time, on the other hand, is unlikely to be covered. 

 

 

Theft 

Given all the benefits of electric bikes, it’s not surprising that they attract the attention of thieves, especially in cities. This part of the insurance will cover you for the amount you paid for your electric bike. 

What’s not covered

An insurance company is very unlikely to cover the cost of your stolen electric bike if you’ve been careless with it. Unless it’s been taken from your own home, insurers will expect you to lock the bike up securely when out in public areas – the frame must be fixed to an immovable object (like a bike rack) with an approved lock. These are locks that are classed as either bronze, silver, or gold according to the level of security they offer, and correspond to the value of the bike.

 

 

Personal Accident 

As long as you ride responsibly and within the bounds of the law, you’re unlikely to suffer a serious injury from riding an ebike. If you do happen to come off whilst riding though, you may be entitled to a payout from the insurer, depending on the injury sustained and its severity. 

What’s not covered 

This element of ebike insurance generally covers only the most serious injuries – loss of sight, loss of limbs, and Emergency Dental Treatment. Insurers aren’t going to pay out for cuts and bruises. 

 

 

Third-Party liability 

This covers you for accidental damage caused to other people and their property. Whilst we’re sure that you’ll make every effort to keep safe on the roads, if your attention lapses for a moment and causes an accident involving someone else (or their property), you should be covered for any damages caused. 

What’s not covered 

There seems to be quite some variance between policies with regards to limitations, but as a general rule, injury and damage inflicted on family members and their property would not be covered under Third Party liability. 

 

 

How much does electric bike insurance cost? 

This very much depends on the cost of your ebike and where you happen to live. We’d advise using a comparison website to filter out the best deals and choose the policy that best suits you. We ran a search for our very own Furo X, and the annual cost ranged from £96 to £198 – a significant difference in price, but reflective of the different levels of cover. 

 

When you’re out and about on your electric bike, the last thing you want to think about is the cost of any misfortune – whether that be an accident or theft. With adequate insurance in place, you’ll feel freer to fully enjoy your ride, safe in the knowledge that you’re covered in case you get struck by some bad luck. And if you own of one FuroSystem’s electric bikes, know that you’re covered by a manufacturer’s guarantee if anything breaks or defects within the first two years (as long as it’s not caused by normal wear and tear, rider damage, or misuse). 

 

 

 

 

Find more information about our UK theft and damage insurance packages here

 

 

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