Errands, shopping, commuting to work. Do you use an e-bike for any of these activities? If so, is your e-bike properly insured? While a homeowners or renters policy may offer some personal property protection, a separate e-bike policy may offer more advantages. E-bike policies are relatively inexpensive and provide coverage that a homeowners or renters policy cannot.
Typically, under a homeowner or renter’s policy, an e-bike could be protected against theft if it occurred at your home. However, an e-bike policy has additional coverage options that could give an owner a wider range of coverage away from the home. For example, a basic e-bike policy that includes liability coverage protects you if you are liable for someone else’s injuries or damages while riding. Let’s say you were involved in an accident while riding your e-bike and you have an e-bike policy, the policy could offer protection for damage caused to others and their vehicles, coverage that is not included in a homeowner or renter’s policy.
A more extensive e-bike policy could also include comprehensive and collision coverage. This coverage protects the e-bike owner for repairs or replacement if the e-bike was stolen, vandalized, or damaged in an accident. Without a separate e-bike policy you could be required to pay damages out of pocket. Additionally, with an e-bike policy an accident won’t be held against you, unlike an auto accident that will follow you for three years or more.
Do you want another reason to get an e-bike insurance policy? Some policies offer coverage for accessories up to $20,000 when comprehensive coverage is chosen. This could include attachments to the e-bike, for example, a trailer. A loss against a homeowners or renters policy would be subject to the deductible and the loss would remain on your policy record for three years or more, just like an auto accident.
It is important to understand e-bike laws vary by state and e-bike insurance can vary as well. Before purchasing an e-bike, know the laws of where you live and where you will ride, and contact your insurance agent who can help explain policy options.
Summer brings warmer weather and longer days, and an opportunity to explore outside. If an e-bike is part of your plan, contact us today about an e-bike insurance policy. 503-292-1580.
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