5 reasons why you need specialist e-bike insurance

The use of electric modes of transport is growing by the day as people become increasingly conscious of their environmental impact. Electric bikes (e-bikes) are a big part of this.

Sales of e-bikes have increased by around 60% in the UK since the beginning of the COVID pandemic, according to figures, and it’s estimated that around one in 20 people now own one.

E-bikes owe much of their growing popularity to their light, slick feel, cool aesthetics, and ease of transportation even when not in use. They offer a complete, rounded cycling experience for those lucky enough to own one.

But amid all the excitement that comes with owning an e-bike, there are some important details you mustn’t forget. Although there’s currently no legal requirement to have electric bike insurance, it’s essential.

Do you need insurance for an electric bike?

Here are five reasons why you need insurance for an electric bike.

1. E-bikes are expensive

The majority of e-bikes aren’t cheap. And while it is possible to find a bargain if you do your research, it’s no secret that some of the highest spec models on the market could set you back four or five figures.

Like most things that cost a substantial amount of money, e-bikes are a prime target for thieves and can be expensive to fix should they need it. That’s why you’re putting yourself at huge potential risks by not having specialist insurance.

Ask yourself: could I afford to fix or even replace my bike should anything happen to it?

That leads us nicely into our next point.

2. For protection against theft and damage

With such high prices, tech and production value comes the increased risk of theft.

Though we don’t like to admit it, e-bikes are perhaps only second to cars as far as vehicle theft is concerned. According to data, more than 77,000 bikes were reported stolen in the UK across 2020/21—a figure only likely to increase further with the continued rise of e-bike ownership.

While there are various measures you can take to secure your e-bike and protect it from theft, you still need specialist e-bike insurance in place to give you complete peace of mind.

It’s not just theft you need to be mindful of, though. Like anything, your e-bike is also susceptible to damage, be it while out on the road or in storage.

Again, you’re putting yourself at all sorts of unnecessary risk by not being insured. Specialist insurance ensures your e-bike is protected against loss, theft and accidental damage.

While paying out for a stolen bike can be expensive, paying to fix a damaged e-bike can prove costly, too—so why chance it?

Related: How to protect your e-bike from theft in 6 easy steps

3. To protect yourself against injury

Ever fallen off your bike and hurt yourself? We all have.

Even if you consider yourself a careful cyclist, there’s always the chance that accidents could happen. All it takes is one piece of uneven ground, a hazard on the road or a momentary lapse in concentration, and you could lose control, fall off your bike, and pick up a nasty injury.

While most cycling accidents don’t tend to be considered ‘serious’, having an insurance policy that includes personal accident cover will ensure you’re financially compensated for the various outcomes you may encounter as a result of a serious accident.

Related: What are the most common cycling injuries?

4. To protect other road users

It’s not just you and your own bike at risk when you’re out and about.

Of course, there’s always the chance you could accidentally injure someone else or cause damage to someone else’s property while out on your e-bike, too.

For example, you could accidentally scrape against a parked car when trying to get through a tight gap, or you could knock into a pedestrian if they suddenly stepped out in front of you.

You need an insurance policy that includes Public Liability cover to ensure you’re protected should you find yourself in any of these situations.

Depending on the severity of the situation, you could also end up in court if a substantial claim is made against you for injury or damage. However, your legal fees would be covered if you have Public Liability cover.

5. Your e-bike might not be covered on your home insurance

The chances are you’ll already have a home insurance policy in place, but the mistake many people often make is assuming every item kept in the home is automatically covered under said policy.

This is often not the case, so besides double-checking the small print of your home insurance policy, you may just want to assume you’ll need additional cover specifically for your e-bike.

While it’s true that some standard home insurance policies will extend to your contents, there are various things to consider:

your e-bike might exceed the value limit for contents included on your policy
there may well be a limit on how much you can claim for a single item
you may only be entitled to a replacement model rather than a cash payout
your e-bike may not be covered the second it leaves your home

None of the above scenarios are ideal, so you should never solely rely on home insurance being your saving grace should something happen to your e-bike.

Get a separate policy in place and save yourself an unnecessary headache further down the line.

Related: The advantages and disadvantages of home and contents insurance

Well, what are you waiting for?

At Cycleplan, we know that every cyclist’s circumstances differ. That’s why our specialist electric bike insurance can be tailored to suit your exact needs. We protect your e-bike against loss, theft and accidental damage up to the value of £30,000—so you can ride with complete peace of mind.

We also offer Public Liability cover up to £5m as well as protection against personal injury. What’s more—our policies are underpinned by our very own ‘Ripe Guarantee’, which promises great cover and service to match at a price you can afford.

Learn more about our specialist electric bike insurance and get a bespoke online quote today.

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