What Is The Best Electric Bike Insurance?

Alexandre Desoutter Alexandre Desoutter  updated on July 24, 2020

Ebikes are really expensive to buy, and they’re also expensive to repair. In case your ebike is stolen or damaged, getting it insured is a great idea.

In this guide, we will explain all you have to know about electric bike insurance, what it includes and excludes, and how much you might need to pay.

Let’s dive in!

What is electric bike cover?

Ebikes are expensive – with a range of prices from £500 to £2,500, some cost more than a moped. The rate of bike theft in the UK runs at nearly 300,000 a year – a good reason you’ll want to know that your ebike is properly insured.

What does electric bike cover can help you with?

Your home insurance will cover theft of your bicycle at your home, if your bicycle is stolen from your private garage or hallway or another secure place; usually it won’t work if your bike was in your garden.

  • If you add personal possessions cover to your home insurance, your ebike will also be covered outside your home – useful if you use it to commute to work.
  • Most insurance companies also cover damage to your electric bike.

But you might want to take out a specialist ebike policy, which can offer you additional cover:

  • third party liability cover, in case you injure someone with your bike
  • personal accident: If you are injured with your electric bike
  • cover for accessoiries like GPS and chargers.

Does home insurance cover electric bike?

Electric Bicycles (ebikes) can be covered by your Home insurance. Sometimes, you’ll need to add your electric bike to your home content policy.

If you want to be covered outside your home, you will have to add Electric bike as "a personal posession". Your insurer may give you this coverage as a standard part of your home insurance, or it might be an add-on.

There are also insurance specialists for powerbikes that can offer a more feature-rich policy to cover your electric bike more comprehensively.

How does electric bike insurance work?

Usually you are covered for theft and damage done to your ebike. Your home insurance for your bicycle works like any other products covered by your insurance, you have to pay an excess if you are claiming. Ensure the excess is not more than your bike is worth.

Do I need electric bike cover?

Taking out electric bicycle insurance is really useful as your ebike is an item that is valuable, and that can be easily stolen. Of course, it depends where you live – in a big city, you will run a higher risk of theft than living in the countryside.

What are the best insurers to cover electric bike?

You will find in this table the best electric bike cover, we also indicated cover limits.

Available in personal possession

Bike cover limit

NatwestYes£10,000
Hastings Direct Yes£10,000
Sheilas' WheelsYes£10,000
Royal Bank of ScotlandYes£10,000
Sainsbury'sYes£10,000
EsureYes£10,000
SagaYes£5,000
BudgetYes£5,000
Best electric bike cover providers

What are the worst insurers to cover electric bike?

You will find in this table the worst electric bike cover, we also indicated cover limits.

Available in personal possession

Bike cover limit

First DirectYesBetween £300 to £2,500
AxaYes£1,500
HSBCYes£2,500
Post Office Yes£2,500
One callYes£2,500
John LewisYes£5,000
Lloyds BankYes£5,000
Age coYesLimits depends on the underwriter
Worst electric bike cover providers

What should I pay attention to while purchasing electric bike cover?

When taking out electric bicycle insurance, you need to pay attention to various factors:

  • Various exclusions can apply in your case, eg your insurer may specify the type of lock you need to use, or not cover bikes left unattended for more than 12 hours.
  • Think twice before making a claim: is your excess higher than your ebike value?
  • What claim limits are proposed by the provider? is the bike covered by personal possessions (away-from-home) cover as standard, or is this an add-on?

How much does electric bike cover usually cost?

Contents home insurance usually covers your ebike when it’s at home. The average cost of combined buildings and contents insurance in 2018 was £163, with contents insurance usually counting for a third of the premium (around £60) and building insurance for the rest (around £110).

Adding "personal possessions cover" will cost you around £50 per year and will allow you to be covered if your electric bicylce is stolen when you’re out and about. Lot of home insurance companies include personal possession as standard in their content policies.

What are the electric bike policy exclusions?

There are some things electric bike insurance won’t cover:

  • You won’t be covered if you didn’t take reasonable care of your bike, for instance if you left it unlocked.
  • Any damages to your bike accessories (except with a specialist policy)
  • Any accident that happened while you were under the influence of drink or drugs, or if you were breaking the law (eg riding the wrong way up a one way street)