A 2024 Cyclist Buyer's Guide to the Best e-BIKE INSURANCE USA

2024 Cyclist Buyer's Guide to the Best eBIKE INSURANCE USA

May 14, 2024 / ENDURANCE SPORTSWIRE – BikeInsure, an insurtech company specializing in offering bicycle insurance for bikes and e-bikes in the United States, has released 'A 2024 Cyclist Buyer's Guide to America's Best e-BIKE INSURANCE.' The guide is aimed at e-bike owners with an essential 'need' for a separate bike insurance policy to protect their valued electric bikes, as they are usually not covered by home or auto insurance policies. Comprehensive ebike coverage is designed to mitigate the costly financial risk exposure related to riding, transit, and theft that all electric bike owners face.

BikeInsure offers e-bike owners 'peace of mind' by providing financial relief in case of cycling or transit accidents and theft. With a low deductible, cyclists can get their e-bike fixed or replaced, a significant reassurance for their electric bike investment.

Buzzy Cohn, the CEO of BikeInsure, has pointed out that while many homeowners' insurance policies are considered protection against catastrophic home losses, they often exclude electric bikes due to their classification as motorized vehicles. The exclusion of e-bike coverage in home insurance leaves a void for cyclists who own electric bikes. BikeInsure, America's Best eBike Insurance, is the e-bike solution that offers comprehensive riding, transit, and theft coverage for the "3-Class eBike standards" of electric bicycles, which limit the motor's power to 750 Watts.

Get Answers to 12 Essential eBIKE INSURANCE Questions

1.   What is Electric Bike Insurance?

2.   Does an eBike need Bike Insurance?

3.   Is eBike Insurance worth the Cost?

4.   What does an e-bike $100 deductible mean?

5.   Can I get eBike theft insurance?

6.   Are Bike Accessories insured components on my eBike Insurance?

7.   Are New and Used e-bikes eligible for eBike Insurance? 

8.   What is the difference between e-Bike Warranty vs Insurance?

9.   Which insurance company underwrites the BikeInsure eBike Policy? 

10. How do the few eBike Insurance offerings Compare?

11. What organizations use BikeInsure as their Official Bike Insurance?

12. Where can I sign up for e-bike Insurance?

What is Electric Bike Insurance?

Electric Bike Insurance is a specialty bicycle insurance policy.

BikeInsure is a separate bicycle insurance policy designed exclusively for bikes and eBikes. The BikeInsure policy offers reimbursement for repairs or replacement to your eBike and its listed accessories in case of accidental damage during a ride. Coverage also continues during the electric bicycle's transit and extends to a stolen eBicycle when optional eBike theft insurance is selected.

Does an eBike need Bike Insurance?

Yes! Electric bicycles require a primary and separate electric bicycle insurance policy to cover the risks of riding, transit, and theft.

• According to insure.com, primary insurance is the first company responsible for paying claims.
• Making a claim with a separate insurance, like BikeInsure, won't affect other insurance policies.

A USA Cycling Member eBike owner shared, "I've been looking at bike insurance companies, including my homeowners. It didn't take much research to go with BikeInsure. They have great coverage backed by Great American Insurance (the company on the Cincinnati Reds' Stadium! Yes, I'm in Ohio.) They partner with USA Cycling. 

I was surprised they cover all your accessories, between bars, saddles, and a Garmin that adds up quickly. They even added my Ridewrap as an accessory. I even spoke about bikes on the phone with the CEO for ten minutes. I hope my Orbea Rise H10 does not get stolen or wrecked, but if it does, I know my $5,000 eBike investment has BikeInsure Coverage for $25/month. Happy Trails."

An eBike owner shared, "I went through my Allstate Homeowners Insurance Policy for bike coverage in California with my insurance agent. I discovered that it does not protect the theft of my bicycle if it gets stolen away from my residence.

We looked further into the Allstate coverage of an electric bike because I own a Mountain eBike, and we found the Allstate policy excludes eBikes, "Property we do not cover" is "Motorized land vehicles, including, but not limited to, any land vehicle powered or assisted by a motor or engine."

‍BikeInsure is the ideal eBike insurance solution."

Is eBike Insurance worth the Cost?

Yes! BikeInsure offers comprehensive e-bike coverage for $16.99 monthly with a $100 deductible. You can add optional theft insurance for your ebike for $8 monthly. If your ebike is stolen, there is a $250 deductible.

Unlike other bike insurance companies in the United States that offer "Variable Pricing," BikeInsure provides comprehensive bicycle insurance, including e-bikes, for a "Fixed Price" of $16.99/mo. 

• E-bike insurance is $16.99/mo.
• Road e-bike insurance is $16.99/mo.
• Triathlon e-bike insurance is $16.99/mo.
• Mountain e-bike insurance is $16.99/mo.
• Gravel e-bike insurance is $16.99/mo.
• Fat e-bike insurance is $16.99/mo.
• Cyclocross e-bike insurance is $16.99/mo.
• Cargo e-bike insurance is $16.99/mo.
• Recumbent e-trike insurance is $16.99/mo.
• Your e-Bicycle insurance is $16.99/mo.

An e-bike owner shared, "I had a difficult time finding insurance that would cover my E-Bike. I thought my homeowners would cover any loss or theft, but to my surprise, they denied coverage in all capacities.

At the beginning of my search, I found other online bike-specific insurance too costly. Then, I came across BikeInsure and decided to give them a call. I spoke with the BikeInsure CEO for quite some time. He was very helpful in explaining to me in great detail the ins and outs of insurance, especially for bicycles. The process was simple, and I found the amount of coverage and the monthly cost to be of good value. I feel secure knowing I have a great policy to protect my much-loved E-bike!" 

What does an e-bike $100 deductible mean?

With BikeInsure, you can ride with peace of mind, knowing your valued bicycle is only a $100 deductible away from getting fixed or replaced after a cycling accident! Suppose you are riding your eBike, hit a bump, and crash. If the result is a cracked bicycle frame that costs a lot of money, including tax and labor, to replace at your local bike shop of choice, you are only responsible for the $100 deductible.

As seen in the Bicycle Retailer and Industry News article 'BikeInsure aims to reduce cyclists' homeowner's insurance burden,' So if you side-swipe that $250 Shimano XTR derailleur against a rock or snap that $450 SRAM eTap AXS shifter on the pavement, it's not necessarily an "Oh, shift!" moment.

Although the Specialized Tarmac is not an electric bike in the customer story, the BikeInsure policy covers bicycles and eBikes. Therefore, an e-bike with BikeInsure coverage would maintain the same claim eligibility.

A cyclist involved in a bike accident with their bicycle insured shared, "I crashed my 2023 Specialized Tarmac SL8 while cycling with friends in Arizona. We hit a section of road scraped for construction work. Before I knew it, my wheels were swept out from beneath me, which destroyed my Roval Rapide CLX II carbon wheels, handlebars, shifters, saddle, and carbon saddle rails.

The only painless aspect of my crash was my claims experience with BikeInsure. The lady in claims guided me through making a claim, and I was paid $4,071.58, with only the bike accident deductible of $100 to pay.

‍I tell all my cycling friends that I have BikeInsure, I crashed, and the bike insurance works!"

Can I get eBike theft insurance?

Yes! During enrollment for BikeCoverage, you may select the optional Bicycle Theft Insurance, which is an additional $8 monthly. When 'BikeCoverage + TheftProtect' is selected, the $10,000 annual aggregate limit is extended to cover the listed bicycle or eBike in case of riding or transit accidental damage and theft.

A cyclist whose electric bicycle was insured shared, "I became a victim of bike theft when my eBike got stolen!

It sounds horrible, which it is, yet it was not all bad news because of BikeInsure. In May, my favorite bike shop, Gorges Cycles in New York, recommended BikeInsure. I signed up for my 2022 Specialized Vado SL 4.0, which cost $4,300. Shortly after purchasing the $24.99 monthly bike insurance plus theft protection, the BikeInsure CEO called to welcome me. On that call, we dialed in my other attached accessories that became listed on my policy. 

On October 26, I locked my bike at a park in what I always felt was a safe location. I ran on the trails, and my bike was gone upon my return. I immediately called BikeInsure. In my time of stress, BikeInsure calmly advised me to file my claim with a police report. Amazingly, shortly after submitting my claim, the claim administrator from Great American Insurance contacted me.

Filing a BikeInsure Theft Claim worked out well because of the Great American Claims representative. She understood the ins and outs of everything and was great to work with. I had my eBike insurance with BikeInsure for just six months and spent under $150 in premium paid for 'peace of mind' coverage that was realized when a check arrived with a letter that stated, "We issued payment in the amount of $4,712.16 for the covered equipment." The check represented payment for my eBike and the listed accessories on the equipment schedule.

BikeInsure has got to be the best bike insurance around.‍

Thank you for choosing Great American to underwrite the BikeInsure policy. BikeInsure is a great bicycle insurance product and an amazing service to cycling customers. I am forever grateful and will recommend BikeInsure to every bike owner I know, beginning with this review."

Are Bike Accessories insured components on my eBike Insurance?

Yes! The enrolled eBike definition includes attached accessories listed at sign-up or added to the policy after enrollment, such as bags, cages, computers, lights, action cameras, radar, or portable pumps. Additionally, eBike accessories may contain non-stock components such as the gruppo, pedals, power meter, saddle, and wheelset.

An e-bike owner shared, “I have been a BikeInsure customer for over a year now. Initially, I signed up with BikeInsure to cover my Specialized Roubaix bicycle.

I recently purchased a Lectric XP electric bike and realized it was time to set up my eBike on a BikeInsure policy. Interestingly, since BikeInsure covers the bike and all attached bike accessories, my $1,000 eBike AND my $240 ORTLIEB Vario pannier bike bag are fully insured!

Thanks to BikeInsure, I now have my two bikes insured and one peace of mind!”

Are New and Used e-bikes eligible for eBike Insurance? 

Yes! The BikeInsure plan offers coverage for new and used electric bicycles powered by human pedaling. Additionally, eBikes are included in the plan at no extra charge.

Before charging your eBike and its electronic accessories for your next ride, get e-bike insurance, providing 'peace of mind' coverage for your electric bicycle.

What is the difference between e-Bike Warranty vs Insurance?

WARRANTY promises what to expect, whereas INSURANCE guarantees covering the unexpected.

A warranty for a bicycle or e-bike is a promise made by the manufacturer or a similar party to ensure the quality of their product. It guarantees the quality of its product and outlines the conditions for repairs, refunds, or exchanges if the product doesn't function as intended. This knowledge empowers consumers to ensure that the bicycle goods they purchase meet the advertised standards.

Bicycle insurance is a separate opt-in policy intended to help cyclists manage the financial risks of their bike or e-bike and all attached non-stock accessories and components listed on the policy. Its purpose is to provide coverage against the risk of sudden and accidental direct physical loss to insured equipment caused by riding or transit accidents. In addition, bicycle insurance can cover theft if the bike or e-bike is stolen.

If your e-bike battery malfunctions, it is considered a warranty issue. However, if you have BikeInsure insurance and crash the e-bike that damages the expensive battery, it will be covered under your bicycle insurance policy.

Moreover, the warranty is not applicable if your eBike is secured and stolen. However, it will be covered under your bicycle insurance policy if you have BikeInsure Theft Protection.

Which insurance company underwrites the BikeInsure eBike Policy? 

BikeInsure is a licensed insurance producer offering affordable bicycle and eBike coverage in the United States. As the official bike insurance partner of USA Cycling, International Mountain Bicycling Association (IMBA), Adventure Cycling Association, and the League of American Bicyclists, BikeInsure collaborates with and is underwritten by AM Best 'A+' Superior Rating (affirmed December 15, 2023), Great American Insurance Company.

For 152 years, Americans have trusted Great American Insurance Company to protect them and render best-in-class service. BikeInsure's authorized insurers operate in all 50 states and DC.

Thanks to BikeInsure, insuring your eBicycle against physical damage and theft is easy. Two weeks after a TREK Speed Concept was enrolled with BikeInsure, the bike crashed into a log, cracking the carbon fork, rotor, and carbon wheel. The BikeInsure customer shared, "The accident claim was processed quickly, and I received a check for $2,125.94 to repair my bike, with only a $100 deductible. It's great to have my Trek bike looking new again."

How do the few eBike Insurance offerings Compare?

Notably, as of 2024, none of the major insurance carriers in the United States offer a specific bicycle insurance policy that covers e-bikes.‍

Although some insurance carriers, like State Farm and Progressive, offer motorcycle insurance, which can be expensive, to cover an electric bicycle, other carriers that exclude eBike coverage from homeowner's insurance policies refer their customers to a bicycle insurance company for a separate bicycle insurance policy that includes electric bikes.

Only two bicycle insurance policies insuring electric bikes have been approved by state insurance departments nationwide and are available throughout the United States.

1. The BikeInsure Policy with 'Fixed Pricing,' (BikeInsure Sample Policy), underwritten by AM Best Rated 'A+' Great American Insurance Company and
2. The AM Best Rated 'A' Markel offers a policy with 'Variable Pricing,' which several insurance companies broker. 

What organizations use BikeInsure as their Official Bike Insurance?

USA CYCLING

"USA Cycling has partnered with BikeInsure through 2026, a bicycle insurance company that shares our commitment to promoting the crucial 'need' of protecting bicycles with its specialty bike insurance policy. BikeInsure, the official bike insurance provider of USA Cycling, is a bicycle insurance company with a wealth of expertise and experience that shares its dedication to promoting the importance of protecting bicycles and eBikes from theft, damage, and accidents."

INTERNATIONAL MOUNTAIN BICYCLING ASSOCIATION

"BikeInsure makes it easy for our members to protect their mountain bikes, including e-bikes, from theft, transit damage, and even accidents that may occur while riding. Knowing many of our members travel for destination riding, and regularly transport their bikes to trailheads in their local and regional communities, IMBA members will be stoked to have BikeInsure's Transit Protection included when they sign up."

BELGIAN WAFFLE RIDE

"BikeInsure has got your bike or eBike coverage. Accidents, transit mayhem, and theft are all part of the gravel game. We're not saying you're gonna crash while training, but if you do, we want you covered.

This ain't your grandma's insurance. While others focus on your home's meltdown, we're here for your two-wheeled love. BikeInsure's got the lowdown on all bikes, especially those gritty gravel machines. Forget the fine print – they cover everything, from your custom accessories to that rad component upgrade you just had to have.

And here's the kicker – making a claim is smoother than your favorite trail. No insurance drama, no hassle. Plus, it won't mess with your other policies. Kakaboulet! 

Accidents, transportation hiccups, and bike bandits – covered.

This partnership isn't just about insurance; it's about spreading the word on protecting your two-wheeled sidekick. Because just like wearing a helmet is a no-brainer, insuring your bike is a smart move. And guess what? It's only $16.99 a month – less than your post-ride coffee spree.

So, BikeInsure it, then get back to your pedaling perversity! No need to worry about 'uh-oh' moments. With BikeInsure, you're just a $100 deductible away from getting your bike back to its glory. Let's ride without the worry, and let the gravel grinding groove on!"

LEAGUE OF AMERICAN BICYCLISTS

"The League of American Bicyclists Celebrates BikeInsure as Official Bike Insurance Partner. With BikeInsure, you can protect your bicycle or e-bike and enjoy the 'peace of mind' that comes with knowing that you're only a $100 deductible from getting back on the road if a bike crash happens."

ADVENTURE CYCLING ASSOCIATION 

"We are excited that Adventure Cyclists can travel by bicycle worry-free from financial loss due to bike accidents and theft with our BikeInsure partnership. When our supporters pedal out on a bike adventure, whether they are riding across the country or exploring close to home, they are often doing so with bikes and equipment that would cause undue hardship to replace due to an accident or theft. BikeInsure's commitment to providing comprehensive coverage for bicycles and e-bikes aligns with our ​work​ to help people feel empowered to venture out into the world by bike and takes one major source of anxiety out of the equation."

Where can I sign up for e-bike Insurance?

You can SIGN UP with BikeInsure and quickly protect your beloved bikes and e-bikes. The BikeInsure plan, a one-year policy payable in monthly installments, is available for adults 18 or older to sign up. Once enrolled, the bicycles are covered when used by the insured or family members of the household. Most BikeInsure customers find the enrollment process straightforward. One Cannondale e-bike owner shared in BikeInsure REVIEWS that he still uses a flip phone and is not tech savvy, "Went to the website and got it done because it was easy." To enroll, click on the website, fill out a short contact form followed by one with your bike details, and make a secure payment.It takes only two minutes.