Whilst electric bicycles are very cost effective they are still an investment and to protect that investment an electric bicycle insurance is a good idea. An insurance can give you a little a piece of mind.
Typically you can add your e-bike to your home contents insurance. You should what are the exact conditions, especially what are the conditions if you leave your electric bicycle locked outside.
Check what is the amount of self-participation and what are the exact conditions. Pay attention to the exact details, are you going to get cash? What is the limit of your coverage, does your electric bike is going to be insured for its full replacement cost value? Are you going to be able to purchase any e-bike you desire from any store or does it the insurer decision? Also, look at other insurance companies offers.
If you don't have a home content insurance or if your insurance company insists they won't cover your e-bike, you can still get a standalone electric bike cover, exactly like any other car insurance but a hack of a lot cheaper.
The amount you pay yearly will be a certain percentage of your e-bike total worth. Typically it will be somewhere around 5-15% which translates to about 50-200$ a year, depending of course on the price of the e-bike.
Apart from being stolen, your e-bike could also be damaged or vandalized. Some insurances will pay for the getting it back on the road repaired. Also, if your e-bike was seriously damaged or vandalized, check if there is an option to replace the e-bike with a new pair. If you have a self-built or a custom e-bike, see if you can still insure it. Insurances companies that cover your e-bike against damage will probably want to know it's current condition, it's age, brand and any other useful data so they can evaluate the insurance price fairly.
When a car is getting stolen, it is obvious that the driver should get a replacement car. Some e-bikes insurances offer the same service for e-bikes for an additional small fees or for no additional fees at all.
Electric folding bicycles are less likely to be stolen. Insurance companies are aware of that and some of them offer discount for electric folding bicycles.
Do you love cycling around the world? Do you plan on circling the world with your e-bike? Check whether the insurance company will insure your e-bike if you are traveling with it to other countries.
Some insurances also apply for accidents. Click here to read further about it.
Check the website of the Environmental Transport Association (ETA) for an example of one of the more popular insurance program available.
Be sure that you understand the insurance in detail.
Electric bikes, like conventional bicycles, can be locked with chains or cables.
Can you leave your e-bike outside or should you lock it indoors? Can you lock it in the hallway and can it be seen from outside the house? You'll be surprise to find out all sort of different conditions.
When you lock the e-bike outside. What are the locking securing conditions? Does the insurance company require a specific kind of lock. Maybe there is a requirement for an alarm! Check whether implementing advanced locking devices will lower the insurance price.
For more about locks and chains, click here.
Some electric bikes come equipped with a motor resistance locking (E+ company), removable parts and more.
And finally, find out whether you can keep your e-bike locked outside for any time duration. Can you keep them locked only at daytime or can you also keep them outside during the night.