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Travel with Ease – Insurance for your Electric Bike

Do You Have An Electric Bike or Were You Lucky Enough to Get One for the Holidays?

Do You Have An Electric Bike or Were You Lucky Enough to Get One for the Holidays?

I probably don’t have to tell you that E-bikes are all the rage and have become an extremely popular mode of transportation. Requiring less exertion and stamina than traditional bikes, and a cost-effective way to get around, it’s predicted that we’ll continue to see more and more E- bikes on the road. If you already have one, or are considering a purchase, you should also investigate your insurance options, because you want to be protected. Allstate does not currently offer coverage for E-bikes but there are ways in which you can be covered, and as always, you should always check with your insurance
broker to discuss your protection.

Consider these options:

  1. You can get stand-alone policies that cover E-bikes, and a Google search will direct you to suitable companies. These policies cover damage and theft, and you may also be able to get additional coverage for personal injury and liability. You need to do your research to make certain you are getting the protection you want at a reasonable cost.
  2. Consult with your broker and explore what, if anything, is covered with your homeowners insurance. E-bikes and E-scooters are new modes of transportation, and most insurance companies haven’t yet developed the policies that cover them. Ask your broker if an umbrella policy would also offer protection.
  3. If your E-bike was purchased using a Credit Card, the Card’s protection plan might offer protection. Carefully review the terms and conditions and see what coverage is offered. E-bikes are the way of the future and I anticipate that Allstate and the other major insurance carriers will soon have a policy in place.

Certainly, if you already have a bike, I’d suggest looking into what coverage you can get right now and if you’re planning to buy one in the future, make sure that you get insurance protection. And then, have fun, because I hear that they’re a very enjoyable way to get around.