Ultimate Guide to the Best eBike Insurance USA

Guide to America's Best eBike Insurance

August 29, 2023 / ENDURANCE SPORTSWIRE – BikeInsure, an insurtech company specializing in bicycle insurance for cyclists in the United States, has released a 2023 Guide to America's Best eBike Insurance. Electric bicycle owners have an essential 'need' to protect their eBikes with a separate bike insurance policy. 

BikeInsure is a separate insurance policy designed specifically for bicycles and eBikes because home insurance often does not provide adequate bike coverage, and eBikes are typically excluded by most home or auto insurance policies. BikeInsure protects bicycles or eBikes against riding, transit, or theft risks, and making a claim won't affect existing insurance policies.

"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, stated Eric Bennett, Director of Membership at USA Cycling. Through our USA Cycling partnership with BikeInsure, we aim to offer riders across the United States the 'peace of mind' they deserve, ensuring that they can ride and race confidently, knowing their bicycles of all types are protected with a separate bike insurance policy."

A savvy California resident who owned an Electric Bicycle suggested a simple yet effective solution that all eBikes should come with a warning label that says, "BikeInsure it, then Ride it." This proactive eBike owner wisely obtained a BikeInsure policy upon purchasing their electric bicycle in September 2022. However, just nine months later, a thief stole their eBike. Fortunately, due to their BikeInsure coverage, they were reimbursed $4,420 soon after filing an eBike theft claim. The insurance payout enabled them to promptly purchase a new bicycle from their local bike shop and continue their daily routine with minimal interruption.

"Electric bicycles are often classified as motorized vehicles rather than personal property, so they are usually a (homeowner's, renters, and auto) insurance exclusion." said Buzzy Cohn, CEO of BikeInsure and eBike Owner. "Therefore, eBike insurance begins for riding, transit, and theft risks of an electric bike and attached accessories once it has separate bike insurance. I have 'peace of mind' coverage for my Electric Road Bike because I am BikeInsure'd!" 

Home Insurance is Insurance for a Home!

Discover the top six reasons why insurance experts advise homeowners to consider their insurance as a safeguard against catastrophic losses rather than for covering bicycles. 

1. DEDUCTIBLE - Firstly, it's important to note that the standard deductible for homeowner's insurance is typically between $500 to $2,500, with higher-valued homes sometimes having deductibles of $5,000 or more (PolicyGenius.com and USnews.com).
2. PREMIUM INCREASE - Secondly, when a homeowner files a claim, it often increases insurance premiums during policy renewal. 
3. NON-RENEWAL - Thirdly, insurance companies may have to cancel or non-renew a policy if multiple claims are filed within three years, even if the homeowner has consistently paid their premiums. 
4. CLUE REPORT - Lastly, insurance companies use a database called CLUE (Comprehensive Loss Underwriting Exchange) generated by LexisNexis to access consumer claims information when underwriting or rating an insurance policy, which can impact a homeowner's eligibility for coverage.
5. BICYCLES - Home insurance often does not provide adequate bike coverage.
6. ELECTRIC BIKES - eBikes typically have a home insurance exclusion.

Does homeowners insurance cover eBikes?

Please keep in mind that eBikes are typically not covered by most home insurance or renter's insurance policies. Since electric bicycles are often classified as motorized vehicles rather than personal property, they are usually excluded from homeowner's or renter's insurance.

Do eBike laws require insurance?

Electric Bicycle laws vary from state to state and may also change periodically, so it is vital to know the laws in your state. Insuring your eBike may be wise regardless of whether insurance is a requirement in your state. BikeInsure is 'The Better Way' to protect your eBike against riding, transit, or theft risks.

BikeInsure covers the "3-Class" eBike standards. All classes limit the motor's power to 750 Watts. 

• Class 1: eBikes that are pedal-assist only, with no throttle, and have a maximum assisted speed of 20 mph.
• Class 2: eBikes that also have a maximum speed of 20 mph, but are throttle-assisted.
• Class 3: eBikes that are pedal-assist only, with no throttle, and a maximum assisted speed of 28 mph.

Top 9 Highlights of America's Best eBike Insurance

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1. Class 1, 2, or 3 electric bicycles are insured for $16.99 monthly.

2. Any eBike with BikeInsure may add optional bike theft insurance for $8 monthly.

3. New and used eBicycles are eligible for BikeInsure ebike insurance.

4. Bicycle Accessories are covered at no additional cost.

5. Damage while in Transit is included in the electric bicycle insurance. 

6. The eBike insurance has low deductibles. 

7. The BikeInsure plan is underwritten by AM Best 'A+' (Superior) Great American Insurance.

8. Bikeinsure is the Official Bike Insurance of USA Cycling.

9. America's best bicycle insurance has a simple two-minute sign-up.

Class 1, 2, or 3 electric bicycles are insured for $16.99/mo.

The comprehensive eBicycle insurance plan with up to $10,000 in coverage per bicycle can be purchased for a $16.99 per month credit card charge. In the event of an ebike accident loss occurrence, you are responsible for a $100 deductible.

The type of eBike does not change your price!

• eBike Insurance is $16.99/mo.
• eRoadBike Insurance is $16.99/mo.
• eMountain Bike Insurance is $16.99/mo.
• eGravel Bike Insurance is $16.99/mo.
• eFat Bike Insurance is $16.99/mo.
• eTrike Bike Insurance is $16.99/mo.
• eCargo Bike Insurance is $16.99/mo.
• Your eBicycle or Bike Insurance is $16.99/mo.

Any eBike with BikeInsure may add optional bike theft insurance for $8 monthly.

If you choose to add theft protection, the BikeInsure plan will cover your electric bike if it is stolen. As eBikes can be costly, it's crucial to safeguard your investment. BikeInsure is an affordable insurance option designed specifically for your eBike. It's brilliant as it offers eBike protection without affecting your homeowner's insurance.

For just $8 a month, you can add optional theft insurance with up to $10,000 in protection per eBicycle. In the unfortunate event of a theft loss, you'll only be responsible for a $250 deductible.

New and used eBicycles are eligible for BikeInsure ebike insurance.

The BikeInsure plan provides coverage for both new and used electric bicycles that are powered by human pedaling. It's worth noting that eBikes are also included in the plan without any extra charges.

Bicycle Accessories are covered at no additional cost.

To many electric bicycle owners, their eBike serves a greater purpose than a simple mode of transportation. They often buy extra attached bicycle accessories like bags, cages, computers, lights, and sometimes even safety and convenience items like action cameras, radar, or portable pumps. Additionally, some eBikes may contain non-stock-attached components such as the groupset, pedals, power meter, saddle, and wheelset. When enrolling an eBike at BikeInsure.com, applicants can include these items in the List Bike Accessories section of the Bike Information Form. Doing so will make the listed accessories a part of the scheduled bicycle definition, which is factored into the bike's overall value.

Cyclists have several favorite brands for bike computers, including Bontrager, Bosch, Garmin, Hammerhead, Stages Cycling, and Wahoo Fitness. If you have a BikeInsure plan and own one of these computers, it can be insured as a listed accessory. Once you finish the brief sign-up process, watch for your BikeInsure plan policy. Upon reviewing the Equipment Schedule, you'll notice that all the accessories you listed on your application have been incorporated into the corresponding bicycle definition. That's all there is to it!

Damage while in Transit is included in the electric bicycle insurance. 

The eBike insurance plan offered by BikeInsure covers any listed eBike or bicycle in transit on land or by air within the United States, its territories and possessions, Puerto Rico, and Canada.

The eBike insurance has low deductibles. 

Applying for BikeInsure Electric Bicycle Insurance is simple. And the best part? You can get America's best bicycle insurance for an eBike that has low deductibles, and we don't need any of the following:

1. No credit reports. 
2. No social security numbers. 
3. No credit-based insurance scores. 
4. No extra underwriting requirements.

The BikeInsure plan is underwritten by AM Best 'A+' (Superior) Great American Insurance.

BikeInsure is making it easy and more affordable for eBike owners in the United States to buy and benefit from bike insurance. Licensed insurance producer BikeInsure, the official bike insurance provider of USA Cycling, is administering the insurance plan, underwritten by carrier Great American Insurance Company, rated "A+" (Superior) by AM Best, an authorized insurer in all 50 states and Washington, DC. For 151 years, Americans have trusted Great American Insurance Company to protect them and render best-in-class service.

BikeInsure is the Official Bike Insurance of USA Cycling.

USA Cycling is the national governing body for cycling in the United States. It is a testament to the BikeInsure comprehensive bicycle insurance product when USA Cycling shared, "We are thrilled to announce that 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 it's specialty bike insurance policy."

Get America's best Bicycle Insurance in just 2 minutes.

Got eBike? You can quickly sign up for BikeInsure Bike Coverage to safeguard your eBike from any damages resulting from riding accidents or while in transit. Plus, you can even add optional bike Theft Protection. When optional theft protection is selected, your coverage extends to a stolen bicycle or eBike.

BikeInsure it, then Charge it!

Before you charge your eBike and all the electronic accessories and components you value for your next ride, get BikeInsure 'peace of mind' bicycle insurance for your electric bicycle.