The electrical bike is seems to be in a class of its own.
It’s not a car. It’s not a motorcycle. And it differs from the traditional bike due to the fact that it is costlier, has a motor and can ride at high speeds.
Nonetheless, because of the related expense and exposure, e-bike owners face significant risk scenarios.
Associated perils include:
- Theft of the e-bike
- Damage to the e-bike
- Liability for damages incurred to others’ property
- Liability for bodily harm to others
Does Homeowners, Renters, Auto, or other Insurance Cover the E-Bike?
While e-bikes are generally covered under a standard homeowners or renters insurance policy, it is a limited type of protection. Moreover, coverage under an auto insurance policy may not be applicable because ownership and use does not require registration, licensing or even insurance coverage.
Fortunately, there is specially formulated insurance policies that cover the gap and/or exclusions within a homeowners, renters or auto insurance policy.
Besides standard coverage for the risks listed above, an electric bike or e-bike insurance policy can incorporate coverage for the e-bike rider’s medical costs in the event of injury in an auto accident, spare parts, e-bike attire, rental compensation and even roadside assistance.
Ask your insurance agent about a plan, tailored to your electrical bike and riding frequency.
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Summary: With the rise in popularity of the e-bike, Prime Insurance spotlights related insurance coverage.