E-bike insurance

Bobster1313

New member
Local time
1:51 PM
Joined
May 25, 2022
Messages
1
Does anyone have recommendations for e-bike friendly insurance companies? I recently had my Bulls twenty-eight bike stolen out of the locked storage at my apartment building. i assumed that State farm would cover the loss. State farm treats electric bikes and traditional bikes differently for theft. They do not cover class 2 and 3 bikes at all and only pay up to $1000 for class 1. I am looking for a more e-bike friendly company.
State Farm Insurance Companies
Fire Claims
PO BOX 106169
Atlanta, GA 30348-6169
Fax 844 236 3646

You reported the theft of your electric bike from the apartment bike storage facility. Your electric
bike, being a two wheeled personal conveyance assisted by an unmodified motor, is subject to
the limitations under the Special Limits of Liability item k. While your electric bike does not
exceed 1 hp, it does exceed 20 mph for the top speed. For this reason, we are unable to extend
coverage for the replacement of your stolen electric bike.
Please refer to your H4-2143 Renters Policy which states:
RENTERS POLICY

SECTION I – PROPERTY COVERAGES

COVERAGE B – PERSONAL PROPERTY
Special Limits of Liability. These limits do not increase the Coverage B limit. The special
limit for each of the following categories is the total limit for each loss for all property in that
category:
k. $1,000 on commercially manufactured two, three, or four wheeled personal conveyances
powered only by or assisted by an unmodified motor or engine with a manufacturer’s
power rating of no more than 1 horsepower and capable of a top speed of no more than
20 miles per hour. This does not include such conveyances that are:
(1) designed for assisting persons with disabilities;
(2) not designed for travel on public roads; and
(3) not subject to motor vehicle registration; and
 
Does anyone have recommendations for e-bike friendly insurance companies? I recently had my Bulls twenty-eight bike stolen out of the locked storage at my apartment building. i assumed that State farm would cover the loss. State farm treats electric bikes and traditional bikes differently for theft. They do not cover class 2 and 3 bikes at all and only pay up to $1000 for class 1. I am looking for a more e-bike friendly company.
State Farm Insurance Companies
Fire Claims
PO BOX 106169
Atlanta, GA 30348-6169
Fax 844 236 3646

You reported the theft of your electric bike from the apartment bike storage facility. Your electric
bike, being a two wheeled personal conveyance assisted by an unmodified motor, is subject to
the limitations under the Special Limits of Liability item k. While your electric bike does not
exceed 1 hp, it does exceed 20 mph for the top speed. For this reason, we are unable to extend
coverage for the replacement of your stolen electric bike.
Please refer to your H4-2143 Renters Policy which states:
RENTERS POLICY

SECTION I – PROPERTY COVERAGES

COVERAGE B – PERSONAL PROPERTY
Special Limits of Liability. These limits do not increase the Coverage B limit. The special
limit for each of the following categories is the total limit for each loss for all property in that
category:
k. $1,000 on commercially manufactured two, three, or four wheeled personal conveyances
powered only by or assisted by an unmodified motor or engine with a manufacturer’s
power rating of no more than 1 horsepower and capable of a top speed of no more than
20 miles per hour. This does not include such conveyances that are:
(1) designed for assisting persons with disabilities;
(2) not designed for travel on public roads; and
(3) not subject to motor vehicle registration; and
I live in Toronto, Ontario Canada. When I bought my 500 watts mid drive e bike I reviewed my Home Owner’s policy and noted that it had a limit of $1000. I paid $3200 for my bike and contacted my insurers to have the bike specifically insured. I was told they do not insure ebikes. I contacted three other insurers and two had no problem insuring the bike. The cost would be around $275 with $25 deductible. The third insurer advised that their limit for ebike was $6000. Apparently a deluxe Home Owner’s policy with high yearly premium.

I phoned my insurers and told them other insurers would insure the bike and that I would be forced to move my insurance portfolio elsewhere. Sure enough they decided to reconsider the matter and advised me they would get back to me. An hour or so later I got an email they would insure the bike provided the bike’s motor does not exceed 500 watts and the maximum speed limit is 20 mph in accordance with the Canadian ebike laws. The cost to insure would be $275 with a $100 deductible. I decided to stick around until the next renewal date and told them to insure the bike as quoted and wrote their premium was not competitive and that I had been with them for over 20 years with no claim filed to date and I would be looking around for new insurers at renewal. When I received the revised policy I noted the insurers had reduced the premium for the bike to $75 with no deductible.
 
Does anyone have recommendations for e-bike friendly insurance companies? I recently had my Bulls twenty-eight bike stolen out of the locked storage at my apartment building. i assumed that State farm would cover the loss. State farm treats electric bikes and traditional bikes differently for theft. They do not cover class 2 and 3 bikes at all and only pay up to $1000 for class 1. I am looking for a more e-bike friendly company.
State Farm Insurance Companies
Fire Claims
PO BOX 106169
Atlanta, GA 30348-6169
Fax 844 236 3646

You reported the theft of your electric bike from the apartment bike storage facility. Your electric
bike, being a two wheeled personal conveyance assisted by an unmodified motor, is subject to
the limitations under the Special Limits of Liability item k. While your electric bike does not
exceed 1 hp, it does exceed 20 mph for the top speed. For this reason, we are unable to extend
coverage for the replacement of your stolen electric bike.
Please refer to your H4-2143 Renters Policy which states:
RENTERS POLICY

SECTION I – PROPERTY COVERAGES

COVERAGE B – PERSONAL PROPERTY
Special Limits of Liability. These limits do not increase the Coverage B limit. The special
limit for each of the following categories is the total limit for each loss for all property in that
category:
k. $1,000 on commercially manufactured two, three, or four wheeled personal conveyances
powered only by or assisted by an unmodified motor or engine with a manufacturer’s
power rating of no more than 1 horsepower and capable of a top speed of no more than
20 miles per hour. This does not include such conveyances that are:
(1) designed for assisting persons with disabilities;
(2) not designed for travel on public roads; and
(3) not subject to motor vehicle registration; and
Thanks for the detailed writing.
 
Two new Aventon Level class 3s; Farmers considers class 1 & 2 same as non-ebikes= homeowners policy. We had to get a motorcycle policy for class 3s= $282/yr; but, our policy bundles cars, house and umbrella.
 
I'm sorry that so many bikes were stolen from you. It is because of this that my wife and I decided to insure 4 of our e-bikes. Since we live thirty kilometers from the city, we simply need such bicycles! It took us a long time to find a good insurance company. But then one of our acquaintances advised us the site https://sundaysinsurance.co.uk/cyclist-insurance and there we decided to buy a comprehensive insurance package. I confess that I have never regretted my decision. Because now we don't have to worry about our bikes breaking down or being stolen.
 
A few days ago I was coming down a very steep mule track covered with sharp stones when I realized I was about to cut a county road. I stopped 10-20 cm from a passing car. The driver told me off, and I can't blame him...

So I decided to take an e-bike insurance. Here, being an island, it is difficult to steal bicycles. I also hardly leave it tied to a pole (and in case I remove the kiox display, that is s/w locked to the engine). Therefore, I need just a third party risk cover and optionally some sort of road assistance.

How many of you pay for insurance in Europe? And how much do you pay per year? I've seen that the price here (Spain) ranges from €22 to 50 per year, with a maximum of €130,000 for third-party damage. Any suggestion? The bycicle is a standard, EU law compliant ebike (25 kmh - 250 kW)

Today it's already 30 C, blazing sun, I'm staying at home... reading forums and planning future outings :-(
 
Velosurance is an agent for Markel Insurance Co. Markel writes insurance for almost all of the bicycle insurance policies sold in the USA. Almost every seller who offers a policy... They are agents for Markel. So everyone gets the same policy and the policy contract is identical across all the sellers. There are a couple of exceptions. The most notable one is Sundays Insurance is now available in the USA. As an insurance agent licensed in I think 42 US states, who has helped design and draft insurance policy language as part of decades in the business, I have read the Sundays contract and it is a minefield of gotchas, exclusions, limitations and exceptions. Its also an Actual Cash Value based policy meaning they will depreciate your bike at the time of loss.

Markel policies on the other hand are paid as if the policy is an Agreed Value. They don't depreciate. They decide up front if the bike's insured value is appropriate. I have two custom-built, electrified Bullitts insured by Markel thru Velosurance, who I have found over the years to provide very good service.
 
Velosurance (Markel Insurance).
No muss, no fuss. I set up a great ebike policy in minutes, for only $149/year (even with added $50k liability).
 
Back
Top