Our Pick Of The Best E-Bike Insurance
The size of the global e-bike market is expected to grow from approximately £40 billion in 2023 to almost £50 billion by 2028 – a compound annual growth rate of around 5%, according to trend analysis from ReightGoodBikes.co.uk. It attributes the rise in popularity to factors ranging from environmental sustainability to advancements in battery technology.
However, with the cost of some models running into tens of thousands of pounds, you could be left with a hefty bill if your e-bike is stolen or becomes damaged. Taking out a specialist e-bike insurance policy can offer the peace of mind that you will be financially protected in any of these events.
We’ve compared e-bike insurance providers to find our pick of the top deals. Our research is based on a new e-bike valued at £2,250 and we explain more about our ratings in the methodology below.
Our pick of the best e-bike insurance policies
Methodology
With the typical cost of an e-bike sitting between £1,500 to £3,000 according to our research, we’ve based our premiums on a model worth £2,250.
The data, which we collected from our own comparison service (provided by partner, Seopa Limited) is based around an electric road e-bike.
We’ve opted for cover around organised events and sportives, but not for competitive cycling.
To rank the e-bikes we looked at:
- the cost of annual premium
- cover for cycling accessories
- the excess (the first part of any claim you’ll need to pay)
We also considered whether the policy provides cover for outside of the UK (and on what terms) and for family and friends.
Finally we considered whether public liability, personal accident and legal expenses cover were included in the policy, or need to be bolted on at extra cost.
What are electric bikes?
Electric bikes, or ‘e-bikes’ might look like standard push bikes, but they come with a battery and a motor which means they require less effort to pedal.
As a result, they can carry more luggage and help you tackle steep hills and long journeys without breaking (too much) of a sweat.
Most e-bikes are classified as ‘electrically assisted pedal cycles’ (EAPCs) which don’t need to be taxed or registered. You don’t need a licence to ride an EAPC but you must be over 14 years old.
However an e-bike must meet certain criteria to qualify as an EAPC. Under current rules, for example, it must:
- have pedals to propel it
- show the manufacturer of the motor or its power output
- show the maximum speed or battery voltage
- have a maximum power output of 250 watts
- not be propelled when the bike is travelling more than 15.5mph.
E-bikes that don’t qualify as an EAPC must be registered and taxed.
Who can ride e-bikes?
If you’re aged 14 or over, you are permitted to ride an electric bike providing it meets certain requirements. You do not need a licence and there’s no need to register your bike or pay vehicle tax.
There’s also no legal requirement for you buy insurance for your electric bike. However, if you want to protect your bike against theft and damage, it’s well worth paying for a policy.
What does an e-bike insurance policy cover?
E-bike insurance policies can vary in terms of what is offered as standard. But most will cover you for the following:
- theft: in the event your bike is stolen at home or when you’re out and about
- personal accident: in the event you’re seriously injured in an accident
- accidental or malicious damage: covering the cost of replacing or repairing your bike if it is damaged or vandalised.
Replacements for new bikes are usually on a new-for-old basis so if your e-bike is damaged or stolen, it will be replaced with a new equivalent model. Replacements for second-hand bikes are likely to be based on their market value.
Many policies also offer a range of extras you can bolt on to your policy. Some will be included as standard and some you’ll need to pay for, depending on the insurer. These include:
- third party liability cover: providing cover for the cost of any claims made against you if you injure someone or damage their property while on your bike.
- accessory cover: covering accessories that are not part of the bike, such as your helmet, clothing, GPS and lights.
- breakdown cover: roadside assistance if your e-bike breaks down or suffers a puncture you can’t repair.
- cover abroad: providing cover if you take your bike overseas.
- amateur races and competitions: covering the cost of race fees and travel if you’re injured and can’t make a race.
- replacement cycle hire: if your bike is damaged beyond repair or stolen and you need a temporary replacement fast.
- cover for all your bikes: many e-bike owners have other bikes, or have family members who also cycle. Some policies allow you to insure several bikes on one policy.
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