Ebike insurance provides comprehensive protection for your electric bike, safeguarding it from potential losses such as theft, damage, and accidents.
Given the relatively recent emergence of ebikes, the market has yet to witness an abundance of specialized insurance providers.
However, the top-notch carriers in this niche offer coverage for collisions, theft, and liability, coupled with excellent customer service.
Our selection of the best ebike insurance is based on factors like policy offerings, coverage limits, unique features, and available discounts.
Top Picks for Ebike Insurance
- Best Overall: Velosurance
- Best Affordable Option: Spoke Insurance
- Best for High Coverage Limits: McClain Insurance
- Best for International Travelers: Sundays Insurance
- Best for Multi-Bike Policies: Simple Bike Insurance
BEST OVERALL
Velosurance
Why We Chose It
Velosurance stands out as the best overall ebike insurance provider due to its extensive coverage, robust policy options, and unique features not commonly found among other providers.
Pros
Offers a wide variety of coverages, including specialized policies.
Discounts available for membership organizations.
Boasts a nationwide repair shop network.
Cons
Instant online quotes are not available.
No information on pricing or deductibles on the website.
Availability is not nationwide.
Overview
Velosurance earns the top spot as the best overall ebike insurance company for its unmatched coverage.
Standard policies cover theft, crash and accident damage, damage during transit, roadside assistance, medical payments, and more.
The coverage extends globally, and Velosurance allows an increase in coverage limits during travels for a nominal fee.
The company provides liability coverage with limits of $25,000, $50,000, or $100,000 per occurrence.
However, details on coverage limits for other policies, as well as information on premiums or deductibles, are not disclosed online.
Velosurance offers unique features like replacement bike rental coverage, bike airline shipping coverage, and racing coverage.
Additionally, its nationwide network of bike shops simplifies finding repair experts after a covered claim.
Insurance discounts are available for members of USA Cycling, USA Triathlon, and the International Mountain Bicycling Association (IMBA).
Velosurance solely focuses on bike insurance, limiting policy bundling options.
It’s essential to note that Velosurance doesn’t underwrite its policies but partners with Markel, a reputable insurance company with an A.M. Best rating of A.
While widely available, Velosurance is not sold in every state. Quotes can be obtained by filling out an online form or contacting an agent through phone, email, or live chat during business hours.
BEST AFFORDABLE OPTION
Spoke Insurance
Why We Chose It
Spoke Insurance earns the title of the best ebike insurance provider for affordability, with policies starting at just $100 per year, catering to riders seeking cost-effective coverage.
Pros
Policies start at $100 per year.
Good coverage options with generous limits.
Low deductible options available.
Cons
No available discounts.
Exclusive to Markel home and renters insurance customers.
Worldwide coverage is not free.
Overview
Spoke Insurance earns recommendations for its affordable coverage, starting at $100 per year, positioning it as one of the most economical providers in our review.
Riders have flexibility in deductible options, ranging from $200 to $500 per claim, enabling them to reduce rates.
The coverage provided encompasses collision insurance, theft insurance, spare parts coverage (up to $1,000), bike replacement cost coverage, medical payments coverage (between $1,000 and $10,000), liability coverage (between $25,000 and $100,000), bike rental reimbursement, and transit protection.
Additional features, such as adding emergency roadside assistance with up to 35 miles of towing, incur an extra $12 per year.
Spoke Insurance does not extend coverage to all states, and there is a charge for worldwide coverage during overseas travel.
Markel underwrites policies, and having a home or renters insurance policy through Markel is a prerequisite for purchasing an ebike policy.
Obtaining quotes involves filling out an online form, while inquiries about coverage necessitate direct contact with an agent.
BEST FOR HIGH COVERAGE LIMITS
McClain Insurance
Why We Chose It
McClain Insurance is selected as the best for high-coverage-limit ebike insurance policies, providing added peace of mind and financial protection for riders involved in ebike accidents.
Pros
Affordable premiums starting at $250 per year.
Offers high coverage limits for certain policies.
Conducts an annual “Five Minute Insurance Checkup” to ensure up-to-date coverage.
Cons
Limited coverage compared to other providers.
Not available in every state.
Few third-party reviews, and no AM Best financial strength rating.
Overview
McClain Insurance distinguishes itself by providing the highest coverage limits among the reviewed ebike insurance providers.
Liability insurance and underinsured motorist insurance coverage can reach up to $500,000.
Standard policies include property damage coverage and medical payments coverage; however, specific policy limits are not available online.
While McClain Insurance offers high coverage limits, it provides relatively limited coverage compared to other providers.
The company does not emphasize unique features such as roadside assistance, international coverage, travel protection, or replacement cost coverage.
Premiums commence at $250 per year, but individuals must obtain deductibles by contacting an agent.
Customer service and claims handling occur through phone or email. Availability is restricted to specific states, including Washington, Oregon, Idaho, Utah, or Arizona.
Coverage extends nationally, but specifics about international coverage are not provided.
Ebike policies from McClain Insurance might be underwritten by partner providers based on the policyholder’s location.
Although policy bundling opportunities are not promoted, multi-policy discounts might be available for those purchasing auto or home insurance through McClain.
BEST FOR INTERNATIONAL TRAVELERS
Sundays Insurance
Why We Chose It
Sundays Insurance stands out as the top choice for ebike insurance for international travelers, offering excellent coverage to ensure your ebike remains protected against damage, theft, or loss, even when transported in cargo holds during overseas getaways.
Pros
- Comprehensive coverage options, including unique policy offerings.
- Convenient online quote, purchase, and claims filing.
- Free perks for Strava members.
- Ebike batteries qualify for coverage under a standard policy.
Cons
- Worldwide coverage is not provided for free.
- Relatively low coverage limits.
- Availability is not nationwide.
Overview
Sundays Insurance is our preferred ebike insurance for international travelers.
By adding a worldwide extension to your policy, you gain coverage for airline shipping and physical damage during overseas travel, although the extension comes at an additional cost.
The policy from Sundays Insurance includes various coverage options applicable in the United States, United Kingdom, and Australia.
Features such as spare parts coverage (up to $600), optional racing coverage, rental reimbursement, and more are available.
Notably, coverage extends to ebike batteries, allowing repairs at any shop.
While bundling policies is not an option, Sundays Insurance does provide a multi-bike discount.
Strava members benefit from unique perks, such as receiving up to $600 for replacing or repairing devices recorded during a Strava app activity.
Obtaining a quote, purchasing a policy, and filing claims with Sundays Insurance are straightforward and can be done online without the need to contact an agent.
Customer communication options include phone, email, and live chat during business hours.
Sundays Insurance policies are underwritten by Tokio Marine, with coverage availability varying by state, along with variations in Strava perks.
BEST FOR MULTI-BIKE POLICIES
Simple Bike Insurance
Why We Chose It
Simple Bike Insurance is the top recommendation for ebike owners with multiple bikes, offering customizable coverage, free protection for competitive cyclists, and appealing discounts for insuring multiple bikes.
Pros
- Nationwide coverage availability.
- Several discounts for policy savings.
- Low-cost policies starting at just $100 per year.
Cons
- Named insured operator on the policy must be at least 18 years old.
- Limited customer support options.
Overview
Simple Bike Insurance is ideal for multiple bike owners, offering a significant discount on one policy covering various bike types, including ebikes, road bikes, mountain bikes, and cruisers, meeting specified power and speed criteria.
| Coverage Type | Coverage Limit |
|---|---|
| Collision Coverage | Up to $10,000 |
| Liability Insurance | Up to $25,000 |
| Medical Payments | Up to $1,000 |
| Worldwide Physical Damage | Protection Included |
| Roadside Assistance | Included |
| Spare Parts Coverage | Up to $1,000 |
| Competition Fee Reimbursement | Included |
| Rental Bike Replacement | Included |
Please note that coverage limits and details are subject to the terms and conditions outlined in Simple Bike Insurance policies.
Coverage extends to bikes anywhere in the United States and Canada.
Starting at just under $100 per year, Simple Bike Insurance policies allow deductible choices ranging from $200 to $500. Claim filing can be done via email, and there are no repair restrictions after a covered loss.
In addition to the multi-bike discount, Simple Bike Insurance offers a discount for specific membership organizations, including USA Cycling, USA Triathlon, or the IMBA, providing a 10% discount. Obtaining an online quote is convenient, with further inquiries requiring a call to an agent or submission of an online help form.
Simple Bike Insurance policies are underwritten by Markel Insurance and are available in all 50 states, exclusively offering bike insurance without the option for policy bundling.
Final Verdict
The majority of ebike insurance policies are underwritten by Markel Insurance. While there are similarities among various ebike insurance carriers, crucial differences exist, particularly regarding starting prices, coverage limits, policy options, and online tools.
In conclusion, our top recommendation is Velosurance for any ebike owner seeking comprehensive coverage.
Velosurance boasts generous coverage limits, unique policies with global coverage, and discounts for membership groups.
Furthermore, its policies are backed by Markel Insurance, a company with over 70 years of industry experience.
Compare the Best Ebike Insurance
| Company | AM Best Rating | Average Annual Premium | Ebike Policy Options | Customer Service | Other Available Insurance Policies |
|---|---|---|---|---|---|
| Velosurance | Best Overall | A | Price by quote only | Ebike insurance | Phone, Email, and Live Chat |
| Spoke Insurance | Best Affordable Option | A | Starting at $100 per year | Ebike insurance | Phone |
| McClain Insurance | Best for High Coverage Limits | N/A | Starting at $250 per year | Ebike insurance | Phone and Email |
| Sundays Insurance | Best for International Travelers | A | Price by quote only | Ebike insurance | Phone, Email, and Live Chat |
| Simple Bike Insurance | Best for Multi-Bike Policies | A | Starting at under $100 per year | Ebike insurance | Phone and Online Form |
Also read: Cheap Renters Insurance Oregon
Frequently Asked Questions
What Is Ebike Insurance?
Specialized policies for electric bicycles, known as ebike insurance, aim to provide protection for these vehicles.
It covers theft, vandalism, accidents, medical payments, property damage, and even offers roadside assistance.
Do I Need Insurance To Ride an Electric Bike?
No, ebike insurance is not legally required. While some insurers categorize ebikes as motorized vehicles, it’s not mandatory as it is with cars.
How Much Does Ebike Insurance Cost?
Costs vary, starting as low as $100 per year. Factors influencing the cost include the ebike type, value, coverage limit, deductible, endorsements, discounts, and chosen provider.
Is Ebike Insurance Worth It?
Ebike insurance can be worthwhile, providing unique protections like roadside assistance and replacement cost coverage. While not essential for everyone, it offers added protection.
Methodology
Our research revealed that most ebike insurance providers underwrite through Markel Insurance.
From the identified standout providers, we meticulously assessed each based on criteria such as policy offerings, coverage limits, unique features, price, and user-friendliness. Preference was given to companies offering discounts and international coverage, leading to the selection of our top five.