Go Back  Bike Forums > Bike Forums > Electric Bikes
Reload this Page >

Insurance for e-assisted bikes?

Electric Bikes Here's a place to discuss ebikes, from home grown to high-tech.

Insurance for e-assisted bikes?

Old 05-15-09, 09:13 PM
  #1  
xtrajack
xtrajack
Thread Starter
 
xtrajack's Avatar
 
Join Date: Aug 2008
Location: Maine
Posts: 2,058

Bikes: Kona fire mountain/xtracycle,Univega landrover fs,Nishiki custom sport Ross professional super gran tour Schwinn Mesa (future Xtracycle donor bike)

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
Insurance for e-assisted bikes?

Seeing as I have a substantial (for me, anyway) amount of money invested in my
X, I asked my insurance agent about insuring it (it would be covered somewhat
under my home owner's policy--$500 deductible) I was told that she thought I
could get what is called a personal item policy.
Apparently she was wrong.As I understand it, because I have an e-assist for some
reason I can't get it insured as a bicycle. She also tried to get it insured as
a moped--no luck there either.
I was wondering if anyone else has had a similar issue,and how did you resolve
it.
Blessings
John
xtrajack is offline  
Old 05-15-09, 09:28 PM
  #2  
Doug5150
Senior Member
 
Join Date: May 2005
Location: IL-USA
Posts: 1,864
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 111 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
I built a motorized bicycle (gas engine) and found out from my insurance company that it could not be covered by any auto insurance at all, because the state of IL does not consider it to be a motor vehicle. It would be covered under the homeowner's policy, same as any other bicycle.
~
Doug5150 is offline  
Old 05-15-09, 09:34 PM
  #3  
xtrajack
xtrajack
Thread Starter
 
xtrajack's Avatar
 
Join Date: Aug 2008
Location: Maine
Posts: 2,058

Bikes: Kona fire mountain/xtracycle,Univega landrover fs,Nishiki custom sport Ross professional super gran tour Schwinn Mesa (future Xtracycle donor bike)

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
I had intended to put a gas engine on it, ran into about 42 kinds of issues. Now I have a brand new 80cc engine for a bicycle, sitting in a box on the porch.
xtrajack is offline  
Old 05-16-09, 12:58 PM
  #4  
RustyBarnacle
Member
 
RustyBarnacle's Avatar
 
Join Date: Feb 2009
Posts: 28
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
In BC if we want to insure a bike we can make it a limited speed motorcycle and insure it through ICBC like a motorbike.

I chose to just make an ebike and bought all my parts on the Visa so I could use its extra features like theft and extra warranty.
RustyBarnacle is offline  
Old 05-16-09, 01:15 PM
  #5  
JS Tyro
Junior Member
 
Join Date: May 2009
Posts: 12
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
IANAL, but I'd expect that the legal definition of the vehicle should be used by the insurance company - if an electric-assisted bike is a bicycle by definition (i.e. not a motor vehicle), it should be insured as a bicycle with just a rider on the regular home insurance (which is what I had on my bikes over the years). If it's legally a motor vehicle (i.e. with too much HP/displacement/whatever for a bicycle), it should be insured as such.

Unfortunately, insurance companies tend to rate things according to ripping people off rather than providing proper insurance at a reasonable price (and according to the real risk). Don't get me started though - I despise insurance companies for lots of old reasons...
JS Tyro is offline  
Old 05-16-09, 06:24 PM
  #6  
misslexi
Senior Member
 
misslexi's Avatar
 
Join Date: Aug 2008
Posts: 217
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
I'm not involved in the insurance industry personally, I have good friends who are. The business model of the insurance business is not based on ripping off policy holders, it's all about managing risk. So, let's see the facts before condemning a necessary evil.
misslexi is offline  
Old 05-18-09, 12:07 PM
  #7  
JS Tyro
Junior Member
 
Join Date: May 2009
Posts: 12
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
Check insurance policies that are void if the holder participates in things like ski jumping, parachuting and such. Ski jumping is the safest form of skiing - safer that either alpine or cross country - just check the accident stats. Parachuting is a very safe sport; bicycling has a much higher accident rate.

Life insurance policies have been used to extract money from people for decades without providing any reasonable rate of return. That's why experts tell people to stay away from life and go with term.

Misrepresenting risk is standard practice in the insurance industry. They sell what people will believe, not what is real.

Trying to require that a bicycle is insured as a motorcycle is just that sort of thing.
JS Tyro is offline  
Old 05-18-09, 12:21 PM
  #8  
E.A. Webb
Guest
 
Join Date: Apr 2009
Posts: 24
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 1 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
Neither Cotton States or Geico would issue insurance on an Ebike for me.
Not as a bike, motorcycle, or personal item.
Ebikes are not in their book, so they don't insure them for any reason.
E.A. Webb is offline  
Old 05-20-09, 04:36 AM
  #9  
Greywolf67
Windows Mobile User
 
Join Date: Jun 2008
Location: Guelph, Ontario
Posts: 43

Bikes: MOTORINO XPh (Ebike)

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
I know of a couple here in Ontario who have both of their scooter style covered as "alt vehicle". Now I am not sure if it went through their home or auto coverage.

However, as a thought you may want to look into to companies who cover Kit Car Builders. As I have had an interest in that area for some time, and know many of them have issue with gaining coverage on a knock off Lambo or Shelby Cobra. Even tho they may have held house and car coverage for years.

Best re-ask State-Farm or All-State or who ever if they have an "alt vehicle" class. Most agents will just skim items deemed ok for addition to house, and whats listed in normal Auto.

*EDIT*
P.S.
I do remember it was $150 a year for the 2 e-bikes. I think it gives them Fire/Theft and PL/PD

Last edited by Greywolf67; 05-20-09 at 04:40 AM. Reason: Forgot info
Greywolf67 is offline  
Old 06-16-09, 07:57 AM
  #10  
urbanadapter
Junior Member
 
Join Date: May 2009
Posts: 8

Bikes: http://www.empoweredebikes.com/Agilis.php

Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
It probably has more to do with having sufficient data to statistically calculate what is the risk involved with an electric bicycle. Since this is relatively a new product category there aren't enough data points to do a proper analysis. I'm sure that several years down the road insurance companies will be happy to come up with a new money making product - e-bike insurance.
urbanadapter is offline  
Old 06-16-09, 09:44 AM
  #11  
snowranger
Senior Member
 
Join Date: Jun 2007
Posts: 168
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
Self-insure. Every month, put aside what you would have spent on insurance. In a couple years, you can buy another bike with it. Also, lock it up good.
snowranger is offline  
Old 06-03-19, 04:58 AM
  #12  
SasaP
Newbie
 
Join Date: Jun 2019
Posts: 1
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times in 0 Posts
Hi Guys, I am planing to insure my ebike and looking for the best insurance and cheapeast company in UK.

Please, does anyone has any advice regarding that?


Thanks
SasaP is offline  
Old 06-03-19, 10:18 AM
  #13  
01 CAt Man Do
Senior Member
 
01 CAt Man Do's Avatar
 
Join Date: Dec 2012
Location: Columbia, Maryland
Posts: 1,102

Bikes: Mountain bike & Hybrid tour bike

Mentioned: 4 Post(s)
Tagged: 0 Thread(s)
Quoted: 170 Post(s)
Liked 3 Times in 3 Posts
Originally Posted by E.A. Webb View Post
Neither Cotton States or Geico would issue insurance on an Ebike for me.
Not as a bike, motorcycle, or personal item.
Ebikes are not in their book, so they don't insure them for any reason.
None of this makes any sense to me. Almost all insurance companies insure motorcycles so why not an ebike? As far as I know all insurance companies should insure bicycles under your home owner policy. If the bike is on your car and the car is in an accident which destroys the bike or someone steals it off your car it should be covered under the car insurance policy ( assuming of course the bike was locked inside the car or attached to a rack that used a lock to secure it. )

Insurance companies are in the business of insuring. If your insurance agent tells you your e-bikes aren't insurable, tell them you will then have to shop around for a company that will insure everything you own and then change companies. If they want your money ( which they do ) they will insure your bikes, motor or no motor assist.

Of course to be sure of all I just said it would be best to discuss what your insurance policies actually cover with your insurance agent. My ebike won't move unless I pedal, even if I turn the e-assist on I have to pedal or it won't move. In my book this makes it a bicycle. I can pedal with or without the motor, my choice but I must pedal or it won't move.
01 CAt Man Do is offline  
Old 06-03-19, 09:35 PM
  #14  
Kent T
Senior Member
 
Join Date: Nov 2018
Location: East Tennessee
Posts: 141

Bikes: 2002 Trek 800 Singletrack, 1982 Bridgestone Spica

Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 31 Post(s)
Liked 7 Times in 5 Posts
Originally Posted by 01 CAt Man Do View Post
None of this makes any sense to me. Almost all insurance companies insure motorcycles so why not an ebike? As far as I know all insurance companies should insure bicycles under your home owner policy. If the bike is on your car and the car is in an accident which destroys the bike or someone steals it off your car it should be covered under the car insurance policy ( assuming of course the bike was locked inside the car or attached to a rack that used a lock to secure it. )

Insurance companies are in the business of insuring. If your insurance agent tells you your e-bikes aren't insurable, tell them you will then have to shop around for a company that will insure everything you own and then change companies. If they want your money ( which they do ) they will insure your bikes, motor or no motor assist.

Of course to be sure of all I just said it would be best to discuss what your insurance policies actually cover with your insurance agent. My ebike won't move unless I pedal, even if I turn the e-assist on I have to pedal or it won't move. In my book this makes it a bicycle. I can pedal with or without the motor, my choice but I must pedal or it won't move.
Fair way to insure eBikes, insure as MoPeds at 50 cc, as motorcycles at 100 cc and beyond. At 40 cc and below, insure as a bicycle. Require license and insurance as HP and top speeds dictate at MoPed and beyond.
Kent T is offline  
Old 06-04-19, 04:57 AM
  #15  
Dewey101
Senior Member
 
Join Date: Sep 2016
Location: Arlington, VA
Posts: 50

Bikes: '73 Raleigh Sports; 2017 Breezer Downtown 8 ST converted to ebike

Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 15 Post(s)
Liked 0 Times in 0 Posts
In the US because ebike frames don’t have a VIN number they cannot be insured under a motorcycle policy, or registered and titled with the DMV in most states. Markel offer a policy that covers theft, liability, and personal injury for riders of Class 1 & 2 ebikes up to 750w/20mph, the same policy is also offered by a company trading as Velosurance. In Canada ebike insurance is offered by pedalpowerinsurance.ca
Dewey101 is offline  
Old 06-04-19, 01:16 PM
  #16  
elizilla 
Awkward Rider
 
elizilla's Avatar
 
Join Date: Apr 2019
Location: USA
Posts: 41

Bikes: Small fleet of e-trikes

Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 10 Post(s)
Liked 7 Times in 4 Posts
I think the important distinction to make here, is what sort of insurance you are looking for.

I'd think that insuring an ebike against loss would be similar to insuring jewelry or artwork. Here in USA you could add a rider to a homeowner or renters policy and it shouldn't need a special policy or special category; at most it would need purchase receipts or a formal appraisal. Probably only add a few dollars to the cost of the policy. But if you don't already have such a policy, it's not going to be worth it unless you have other possessions to insure along with the ebike.

Insuring the ebike for liability like you would a car or motorcycle is a different kettle of fish. The need for that would be less dependent on the value of the ebike and more dependent on the net worth of the rider. You're not insuring the bike itself, you are insuring your house and your bank account against someone who sues you. In those cases, in the USA, I think you need what they call an "umbrella" policy. If you are on _Lifestyles Of The Rich And Famous_ and you step on someone's foot, they might be inclined to sue you because they think you have deep pockets. Injuring someone with an ebike is in that category. That's what the umbrella policy is for. If you think you need one, they're out there. Once you have it, it covers the ebike, your regular bicycle, your hoverboard, whatever. The insurance company will wriggle out of paying if you are doing something illegal when you injure someone, though. An ebike that's outside of legal limits like USA's Class 1/2/3 or EU's 250W/20kph might render you uninsured even if you got someone to sell you a policy.
elizilla is offline  
Old 06-04-19, 03:50 PM
  #17  
howardv
Member
 
Join Date: Apr 2015
Posts: 45
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 17 Post(s)
Liked 2 Times in 2 Posts
I recently did substantial research on e-bike insurance. Most homeowner's policies don't cover e-bikes because they are considered "motorized" and need their own policy. While a regular bicycle is usually covered under a homeowner's policy, and e-bike is not. There are many different categories for motorized transportation, and most do not cover e-bikes. An e-bike needs it's own specific e-bike policy.

State Farm is my insurance company and cover me for home owners, car insurance, and a separate umbrella policy. My agent had never dealt with an e-bike. It took several days and many phone calls to the under writers until she finally found that State Farm does have a separate policy for just e-bikes. This policy costs me $150/year for up to $3,000 coverage on my new utility e-bike (Cero One). There is no deductible and also covers liability up to $25K. After that, my umbrella would kick in and cover the rest for liability.

Keep pushing your agent to do more research. Most don't know anything about e-bike insurance. And if your insurance company doesn't cover it, you can always buy it separately through a company like Velosurance (https://velosurance.com/).
howardv is offline  
Likes For howardv:
Old 06-05-19, 03:55 AM
  #18  
EaOutlaw1969
Junior Member
 
Join Date: May 2019
Posts: 12
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 4 Post(s)
Likes: 0
Liked 2 Times in 2 Posts
I never considered insurance for a ebike. I wonder if a converted bike could be insured?
EaOutlaw1969 is offline  
Old 06-09-19, 08:27 PM
  #19  
Dewey101
Senior Member
 
Join Date: Sep 2016
Location: Arlington, VA
Posts: 50

Bikes: '73 Raleigh Sports; 2017 Breezer Downtown 8 ST converted to ebike

Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 15 Post(s)
Liked 0 Times in 0 Posts
Originally Posted by EaOutlaw1969 View Post
I never considered insurance for a ebike. I wonder if a converted bike could be insured?
Yes it can, I have a Markel policy for my Breezer Downtown converted with a BBS01 mid-drive. As long as you program it under CPSC limits they will issue a policy. Earlier this year I claimed on a personal injury policy I had with the now defunct Balance for Bikes insurance and they paid out.
Dewey101 is offline  
Old 06-26-19, 09:02 PM
  #20  
MikeDD
Member
 
Join Date: Aug 2018
Posts: 32
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 6 Post(s)
Liked 2 Times in 2 Posts
Foremost homeowners insurance said they will cover our e-bikes for theft since they are not required to be licensed in our state. If you have jewelry you need a rider. Our bikes are worth more than any jewelry we own.
MikeDD is offline  
Old 06-26-19, 09:13 PM
  #21  
linberl
Senior Member
 
linberl's Avatar
 
Join Date: Jun 2014
Location: SF Bay Area
Posts: 2,428

Bikes: 2017 Bike Friday PakiT. Dahon Mu Uno (trailer bike) Sold: 2003 Bike Friday NWT, 1997 Trek 720, 1993 Trek 520)

Mentioned: 22 Post(s)
Tagged: 0 Thread(s)
Quoted: 961 Post(s)
Liked 14 Times in 14 Posts
I'm not affiliated with this company but they do cover e-bikes. https://velosurance.com/blog/velosur...tric-bicycles/ A $3500 ebike is about $22/mo.
linberl is online now  
Old 06-26-19, 11:11 PM
  #22  
howardv
Member
 
Join Date: Apr 2015
Posts: 45
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 17 Post(s)
Liked 2 Times in 2 Posts
Originally Posted by MikeDD View Post
Foremost homeowners insurance said they will cover our e-bikes for theft since they are not required to be licensed in our state. If you have jewelry you need a rider. Our bikes are worth more than any jewelry we own.
Do you have this in writing? I urge you to read your policy. You'd be surprised by the number of agents who don't fully understand the policies they sell. If the claims adjuster denies your claim, your only recourse will be against your agent. And if you don't have in writing, you'll most likely lose. Policies are different between insurance companies and vary state-to-state. My State Farm homeowner's policy specifically excludes anything with a propelled by a motor/engine (unless it's used to service the insured property, such as a lawn mower). My agent had to make several calls to the underwriters to finally find the right policy for e-bikes.

You may very well have coverage with Foremost. All I'm saying is to read your policy. I know it's cumbersome to go through pages of legal jargon, but that's what the adjuster will interpret in case of a loss.
howardv is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
BigBober
Clydesdales/Athenas (200+ lb / 91+ kg)
7
11-09-14 10:00 PM
RyKnocks
Road Cycling
12
03-29-12 02:24 PM
gundogblue
Road Cycling
57
12-22-11 11:06 PM
RiverCityCyclis
Alt Bike Culture
1
10-23-09 08:23 AM
StephenH
Utility Cycling
1
04-14-08 09:09 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.