Geico E-Bike Insurance

[Senior_Cruiser]

I just got my Velotric Go 1 Saturday (Review to come soon) and I got a Policy with Velosurance, BUT . . . my Car Insurance is with Geico so I decide to see "IF" they sell E-Bike insurance and How Much. They do, and it covers just about every circumstance, EXCEPT Collision. So with Collision they Quoted me $203 a Year. Same coverage with Velosurance would be $189. Then I asked if my bike was STOLEN, would Geico pay me What I paid for the bike, answer is NO, Geico would pay the "Actual Value" of the bike at the time, in other words the DEPRECIATED value of the bike! No thank you, I'll stick with Velosurance who pays you the Actual Price you Paid for your bike.

 

[Anton]

Thanks for the heads up. It's always good to shop around when looking at insurance to compare different plans.

 

[Hoggdoc]

I just got my Velotric Go 1 Saturday (Review to come soon) and I got a Policy with Velosurance, BUT . . . my Car Insurance is with Geico so I decide to see "IF" they sell E-Bike insurance and How Much. They do, and it covers just about every circumstance, EXCEPT Collision. So with Collision they Quoted me $203 a Year. Same coverage with Velosurance would be $189. Then I asked if my bike was STOLEN, would Geico pay me What I paid for the bike, answer is NO, Geico would pay the "Actual Value" of the bike at the time, in other words the DEPRECIATED value of the bike! No thank you, I'll stick with Velosurance who pays you the Actual Price you Paid for your bike.

So typical of insurance companies.