Environment Transportation The 5 Best Electric Bike (EBike) Insurance Companies of 2021 Make sure your pricey investment is covered By Kiah Treece Environmental Law, J.D., University of Toledo College of Law Interdisciplinary Ecology, M.S., University of Florida Ecosystem Science and Policy, Geological Science, B.A., University of Miami Kiah is a sustainability coach who is dedicated to intentional, sustainable living and the role we can play in improving the environment for future generations. our editorial process Kiah Treece Updated November 23, 2020 Share Twitter Pinterest Email Environment Active Automotive Aviation Public Transportation Our editors independently research, test, and recommend the best products; you can learn more about our review process here. We may receive commissions on purchases made from our chosen links. Solskin / Getty Images Our Top Picks Best Overall: Markel American Insurance CompanyBest Network of Bike Shops: VelosuranceBest Commuter EBike Insurance: SPOKEBest Multi-Bike Policies: Sundays InsuranceBest Policy Bundling: Progressive Whether you rely on it for commuting and errands or just casual use, an electric bike (or ebike) can be a pricey investment. And if you’re riding it in cities or on busy roads, you’re also running the risk of getting in an accident or otherwise damaging a car or hurting a pedestrian. Some homeowners' policies cover bikes that are stolen from the insured home, but coverage is often limited and doesn’t apply to other losses. Ebike insurance fills this gap in coverage. Here, we rounded up the best ebike insurance so you can protect yourself. Best Overall: Markel American Insurance Company Markel American Insurance Company Get a Quote Markel American Insurance Company is a top-rated insurance underwriter that offers ebike insurance for as little as roughly $100 per year. Like other providers on our list, Markel only insures bikes with motors that are 750 watts or under, including pedal-assist ebikes with a top-assisted speed of 20 mph, throttle assist ebikes with a top-assisted speed of 20 mph, and pedal-assist ebikes with a top-assisted speed of 28 mph. Physical damage insurance is available with deductibles between approximately $200 and $500, which includes vandalism, crash damage, and collisions with another rider—with coverage options for racing, too. Additional protection is available at no additional cost, including spare parts and accessories protection (up to around $1,000 total per term), replacement cost coverage (at full value), theft protection, and transit protection (within the U.S. and Canada). Worldwide physical damage is also available. Markel also provides the following coverage: Bicycle liability protection with limits available from about $25,000 to $100,000; vehicle contact protection that covers damage if you’re hit by another driver; medical payments with limits from roughly $1,000 to $10,000; roadside assistance for about $12 per year, per bicycle. What’s more, Markel offers rental reimbursement if your bike is damaged and competitive event fee reimbursement for competitive cyclists if you’re unable to compete in a race. Claims are typically paid within seven to 10 business days of receiving the necessary documentation. Why it's a fit for Treehugger: Markel is our top choice for ebike insurance because of the wide range of coverage options for everyone from commuters to competitive cyclists. Best Network of Bike Shops: Velosurance Velosurance Get a Quote Velosurance is a national insurance carrier that issues ebike policies underwritten by our top pick—Markel American Insurance Company. Bikes are insured at their full value—rather than being depreciated over time—so you’ll be able to replace your ebike with something similar in the case of a total loss. Core Velosurance policies start at roughly $100 per year and include protection for accidental damage, theft, and loss in transit, but customers can customize their plan with a number of add-ons. Additional coverage options include: medical coverage, roadside assistance, including up to 35 miles of transportation per breakdown up to five times a year, and liability protection with coverage limits of approximately $25,000, $50,000, or $100,000 per occurrence. As with Markel, Velosurance provides policies for all electric-assist bikes up to 750 nominal watts. And, in addition to its extensive ebike coverage, Velosurance works with a nationwide network of local bike shops, so you can get your bike repaired at your favorite one. Customers who need to travel outside of the U.S. and Canada can also take advantage of worldwide coverage for physical damage and theft—including while your bike is with the airline. Why it's a fit for Treehugger: We love Velosurance because of its dedication to providing clients top-quality service through its extensive network of approved bike shops. Best Commuter EBike Insurance: Spoke Spoke Get a Quote Founded in 2012, SPOKE was the first bicycle insurance company in the U.S. and provides comprehensive, stand-alone bicycle insurance, including for ebikes. SPOKE is now underwritten by Markel and distributed by Marsh & McLennan Agency and, for that reason, provides extremely robust coverage options. The carrier is also worth highlighting because it offers ebike- and commuter-specific policies for as little as approximately $100 per year. And, as with Velosurance and other Markel providers, roadside assistance is available and features a network of more than 10,000 tow truck companies across the U.S. and transportation within a 35-mile coverage zone up to five times a year. SPOKE requires prospective clients to provide their contact information before obtaining a policy quote. You’ll also have the option to enter your Social Security number (while this isn’t required, it will result in a more accurate estimate). Why it's a fit for Treehugger: Spoke is an excellent option for Treehugger readers because of its comprehensive options for commuters. Best Multi-Bike Policies: Sundays Insurance Sundays Insurance Get a Quote As with many of our top choices, Sundays Insurance provides bicycle and ebike insurance that’s underwritten by Markel American Insurance Company. Sundays doesn’t provide any general pricing information on its website, but it makes it easy to get a comprehensive quote without having to provide personal information like your Social Security number or home address. It’s our top choice for multi-bike policies for the same reason—it’s incredibly easy to add multiple bikes when building an estimate. For a New York-based owner with a $1,500 ebike, five years of riding experience, and primarily casual and commuter use, a policy will cost around $30 per month ($365 per year) with a deductible of about $300. This policy offers roughly $50,000 in bicycle liability, $25,000 in contact protection, and $5,000 medical payments—but does not include worldwide coverage. Why it's a fit for Treehugger: Sundays stands out because of how easy it is to get a comprehensive policy quote for multiple ebikes at once. Best Policy Bundling: Progressive Progressive Get a Quote While Progressive doesn’t offer standalone ebike policies, the carrier does offer bicycle insurance as an add-on to its homeowners, renters, and condo policies. So if you have an existing homeowners policy with Progressive—or are considering changing carriers—your rep can make sure you have adequate additional coverage for your ebike. Likewise, if you have another carrier, like State Farm, contact your agent to find out whether you can add a bike to your policy. In addition to the convenience of adding a bike to existing coverage, Progressive makes it easy to save money by bundling policies. Not only can customers bundle an auto policy with a home, condo, or renters policy, they can also build a customer bundle to earn a multi-policy discount. For example, by bundling home and auto, you can save an average of 12% on your auto policy. Progressive is a great option if you’re shopping for a homeowners or renters policy and want to add supplemental coverage for your ebike. Do You Need Insurance on an Electric Bike? As with bicycle insurance, ebike insurance is not legally required—but it may still be a good idea. In general, ebikes range in cost from about $400 to $2,000 or more, so if it’s stolen or damaged, an ebike policy can help you buy a replacement or pay for repairs. Likewise, if you get in a bad cycling accident and need to cover roadside assistance, medical costs, or even third-party liability, ebike insurance will have your back. What Kind of Coverage Does EBike Insurance Include? Ebike insurance typically includes coverage for things like theft or attempted theft, vandalism, crashes and collisions, and fire. Depending on the carrier, policies can also cover medical payments, third-party liability, damage that occurs during international travel, fee reimbursement, and roadside assistance. Can I Insure My EBike With a Homeowners Policy? You may be able to insure your ebike on your homeowners policy, but traditional homeowners policies don’t typically include coverage for bicycles—unless they’re stolen from your home. This means that you won’t receive a payout if your bike is stolen at school or work, and repairs won’t be covered if you’re in an accident or damage someone’s car while riding. What’s more, homeowners policies typically put a cap on how much you can claim if your bike is stolen. In the case of an ebike, this may only cover a small portion of the actual value of the bike. That said, some carriers allow customers to add a bike to their existing homeowners or renters policy, so ask your agent if this is an option. Is an EBike Considered a Motorized Vehicle? In the U.S., the classification of ebikes as a motorized vehicle varies by state. For example, in Alabama and Alaska, electric bikes are considered motorcycles. However, this is more the exception than the rule, and most states classify ebikes as bicycles or electric-assisted bicycles, meaning they often don’t require a license or impose a minimum driving age. Because of these differences, though, you should always check your state’s requirements when considering an ebike. How We Chose the Best EBike Insurance Providers To choose the best ebike insurance for Treehugger readers, we reviewed carriers based on cost, available coverage and discounts, deductibles, the availability of roadside assistance, rental reimbursement, and worldwide coverage. We also considered cyclist-specific perks and coverage like bike shop networks and roadside assistance. Where possible, we got quotes based on a $1,500 ebike located in New York; otherwise, we evaluated policies based on advertised premiums and the availability of an online quoting tool. Our top choice, Markel American Insurance Company, stands out because it offers a broad range of comprehensive policies under the Markel name. Even more impressive is the fact that Markel underwrites ebike policies for several top carriers on our list.