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Ebike insurance protects your bike against losses like theft, damage, and accidents. Even if you have home or renters insurance, ebikes often have limited coverage, and some policies exclude coverage for ebikes altogether.
Because ebikes are a relatively new trend, there aren’t many ebike insurance companies on the market. However, the best carriers offer collision coverage, theft protection, and liability insurance, as well as good customer service. We found the best based on policy offerings, coverage limits, unique features, and discounts.
The Best Ebike (Electric Bike) Insurance of 2023
- Best Overall: Velosurance
- Best Affordable Option: Spoke Insurance
- Best for High Coverage Limits: McClain Insurance
- Best for International Travelers: Sundays Insurance
- Best for Multi-Bike Policies: Simple Bike Insurance
Best Overall : Velosurance
Velosurance is the best overall ebike insurance provider because of its comprehensive coverage, robust policy options, and unique features that you won’t find from many other ebike insurance carriers.
Wide variety of coverages, including some specialized policies
Discounts available for membership organizations
Nationwide repair shop network
Can’t get an instant quote online
No information about pricing or deductibles on the website
Not available in every state
We chose Velosurance as the best overall ebike insurance company because its coverage is pretty much unmatched. A standard policy includes coverage for theft, crash and accident damage, damage during transit, roadside assistance, medical payments, and much more. Your bike is covered anywhere in the world, and the company can increase your coverage limit during your travels for a small fee.
With Velosurance, you can get liability coverage with limits of $25,000, $50,000, or $100,000 per occurrence. However, the company doesn’t include any information about coverage limits for other policies, nor does it disclose details about premiums or deductibles online.
Some of Velosurance’s niche features that stand out include replacement bike rental coverage, bike airline shipping coverage, and racing coverage. Velosurance also has a nationwide network of bike shops, which makes it easy to find repair experts in your area if your ebike needs to get fixed after a covered claim.
Velosurance also offers insurance discounts to members of USA Cycling, USA Triathlon, and the International Mountain Bicycling Association (IMBA). Because Velosurance only sells bike insurance, there isn’t an opportunity to bundle more than one policy.
One thing to note about Velosurance is that it doesn’t underwrite its own policies. It partners with Markel, a reputable insurance company with an AM Best rating of A. Velosurance is widely available, but it’s not sold in every state.
To get a quote, you can fill out the online form or call an agent. If you want to consult with an agent before purchasing coverage, you can contact a representative via phone, email, or live chat during business hours.
Best Affordable Option : Spoke Insurance
Spoke Insurance offers reliable ebike insurance starting at just $100 per year, so we recommend it to any ebike rider who is looking for an affordable policy that won’t break the bank.
Policies start at just $100 per year for coverage
Good coverage options with generous limits
Low deductible options available
File a quote online through the Markel website
No discounts available
Only offered for Markel home and renters insurance customers
Worldwide coverage isn’t free
We chose Spoke Insurance as the best ebike insurance provider for affordable coverage. Premiums start at $100 per year, which makes it one of the cheapest providers we reviewed. You have the option to choose a deductible from $200 to $500 per claim, and if you opt for a deductible on the higher end, it can lower your rate even further.
Spoke Insurance will cover any ebike with a top speed of 28 mph or less. And as long as your ebike is under 750 watts, you’ll qualify for coverage.
Standard policies from Spoke Insurance include collision insurance, theft insurance, coverage for spare parts (up to $1,000), bike replacement cost coverage, medical payments coverage (between $1,000 and $10,000), liability coverage (between $25,000 and $100,000), bike rental reimbursement, and transit protection. You can also add emergency roadside assistance with up to 35 miles of towing for $12 extra per year, and if your bike needs repairs, you can choose any shop you want.
Unfortunately, Spoke Insurance isn’t available in all states, and it doesn’t offer worldwide coverage for free. If you are traveling overseas with your ebike, the company can help you get a worldwide physical damage protection policy for your trip.
Spoke Insurance doesn’t underwrite its own policies—the company sells coverage through Markel. And one of the major downsides of Spoke Insurance is that you must have a home or renters insurance policy through Markel in order to buy an ebike policy.
To get a quote, you can fill out the form online, but if you have questions about your coverage, you’ll need to call an agent directly. A Markel agent can also provide more information on multi-policy discounts if you are a current customer.
Best for High Coverage Limits : McClain Insurance
McClain Insurance offers high-coverage-limit ebike insurance policies, which is ideal for ebikers who want added peace of mind and financial protection in the event of an ebike accident.
Affordable premiums with a starting rate of $250 per year
High coverage limits for certain policies
Annual “Five Minute Insurance Checkup” ensures your coverage is always up-to-date
Very limited coverage compared to other providers
Not available in every state
Few third-party reviews, and no AM Best financial strength rating
Of all the ebike insurance providers we reviewed, McClain Insurance offers the highest coverage limits by a landslide. You can get liability insurance and underinsured motorist insurance coverage up to $500,000. Additionally, standard ebike insurance policies include property damage coverage and medical payments coverage, but the policy limits available aren’t specified online.
Although McClain Insurance offers high coverage limits, the coverage available is pretty limited, especially when you compare it to some other carriers we reviewed. The company doesn’t advertise any unique features, like roadside assistance, international coverage, travel protection, or replacement cost coverage.
On a more positive note, we like the fact that McClain’s ebike insurance policies are affordable. According to the website, ebike policies start at $250 per year. But you’ll need to get in touch with an agent to find out what deductibles are offered.
In terms of customer service and claims handling, the only ways to get in touch with a representative are through phone or email. There’s a quote request form online, but an agent has to reach out with your results.
Another thing to consider about McClain Insurance is that you can only get ebike insurance in a few states. Currently, you must live in Washington, Oregon, Idaho, Utah, or Arizona to buy a policy. Your insurance will cover an ebike anywhere in the country, but the company doesn’t mention whether international coverage is included.
Depending on where you live, an ebike policy from McClain Insurance may be underwritten by one of its partner providers. Although the company doesn’t advertise policy bundling opportunities, you might qualify for a multi-policy discount if you purchase auto or home insurance through McClain.
Best for International Travelers : Sundays Insurance
Sundays Insurance offers great international bike coverage, so you never have to worry about your ebike getting damaged, stolen, or lost in a cargo hold if you take your bike on an overseas getaway.
Comprehensive coverage options, including some unique policy options
Easy to get a quote, purchase coverage, and file a claim online
Free perks for Strava members
Ebike batteries qualify for coverage under a standard policy
Worldwide coverage isn’t available for free
Relatively low coverage limits
Not available in every state
Sundays Insurance is our pick for the best ebike insurance for international travelers. If you add a worldwide extension to your policy, you can get airline shipping coverage and physical damage coverage while you’re traveling overseas. The only downside is that you have to pay for the extension in order to take advantage of these perks.
An ebike insurance policy from Sundays Insurance includes a variety of other policy options, which apply in the United States, United Kingdom, and Australia. You can get spare parts coverage (up to $600), racing coverage (optional), rental reimbursement, and many more. Plus, your ebike battery also qualifies for coverage if it gets stolen or damaged in a collision. Sundays Insurance will let you take it to any shop to get repaired.
Like most ebike insurance providers, there are no options to bundle your policies because Sundays Insurance only sells bike coverage. The company does offer a multi-bike discount.
One of the coolest features of Sundays Insurance is that Strava members can get access to unique perks. For example, if you crash your ebike while recording an activity in the Strava app, Sundays Insurance will give you up to $600 to replace or repair the device you were recording on.
Another thing we like about Sundays Insurance is that it’s easy to get a quote, purchase a policy, and even file a claim online, without calling an agent. If you do need to get in touch with the company, you can call, email, or use live chat during business hours.
Sundays Insurance policies are underwritten by Tokio Marine. Coverage is not sold nationwide, and policy availability and Strava perks will vary by state.
Best for Multi-Bike Policies : Simple Bike Insurance
If you have a growing bicycle collection, we recommend a policy from Simple Bike Insurance, which has customizable coverage, free protection for competitive cyclists, and best of all, discounts for insuring multiple bikes.
Coverage is available nationwide
Several discounts offered for policy savings
Low-cost policies start at just $100 per year
The named insured operator on the policy must be at least 18 years old
Limited customer support options
Ebike owners who have multiple bikes they want to insure should consider a policy from Simple Bike Insurance. The company offers a generous discount if you add multiple bikes to the same policy, and you can get the discount for insuring a combination of bikes, like ebikes, road bikes, mountain bikes, and cruisers. Ebikes qualify for coverage as long as they are under 750 watts and 28 mph (with power assist).
Simple Bike Insurance policies offer a good range of coverage. You can get collision coverage (up to $10,000), liability insurance (up to $25,000), medical payments (up to $1,000), worldwide physical damage protection, roadside assistance coverage, spare parts coverage (up to $1,000), competition fee reimbursement, and rental bike replacement, among others. Policies cover your bike anywhere in the United States and Canada.
Policies from Simple Bike Insurance start at just under $100 per year, and you can choose a deductible anywhere from $200 to $500. You can email an agent to file a claim, and there are no repair restrictions if your bike needs to get fixed after a covered loss.
In addition to the multi-bike discount, Simple Bike Insurance also has a discount for certain membership organizations. If you belong to USA Cycling, USA Triathlon, or the IMBA, you can qualify for a 10% discount on your rate.
Another benefit of Simple Bike Insurance is that it’s easy to get a quote online, but if you have questions about coverage, you’ll either have to call an agent or submit the online help form.
Simple Bike Insurance’s policies are underwritten by Markel Insurance, and coverage is available in all 50 states. The company only sells bike insurance, so, unfortunately, you won't be able to bundle your policies.
Most ebike insurance policies are underwritten by Markel Insurance. While many ebike insurance carriers share similarities, there are some key differences, especially when it comes to starting price, coverage limits, policy options, and online tools.
Overall, we recommend Velosurance to any ebike owner who is looking for coverage. Velosurance has generous coverage limits, unique policies with worldwide coverage, and membership group discounts. Plus, its policies are backed by Markel Insurance, which has over 70 years of industry experience.
Compare the Best Ebike Insurance
|Company||AM Best Rating||Average Annual Premium||Ebike Policy Options||Customer Service||Other Available Insurance Policies|
|Velosurance Best Overall||A||Price by quote only||Ebike insurance||Phone, Email, and Live Chat||N/A|
|Spoke Insurance Best Affordable Option||A||Starting at $100 per year||Ebike insurance||Phone||Mountain bike, triathlon bike, commuter bike, road bike, and bike roadside assistance|
|McClain Insurance Best for High Coverage Limits||N/A||Starting at $250 per year||Ebike insurance||Phone and Email||Car, home, renters, earthquake, condo, boat, snowmobile, RV, umbrella, life, flood, motorcycle, wedding, mudslide/landslide, pet, and home-based business insurance|
|Sundays Insurance Best for International Travelers||A||Price by quote only||Ebike insurance||Phone, Email, and Live Chat||N/A|
|Simple Bike Insurance Best for Multi-Bike Policies||A||Starting at under $100 per year||Ebike insurance||Phone and Online Form||N/A|
Frequently Asked Questions
What Is Ebike Insurance?
Ebike insurance is a specific type of insurance policy designed to protect electric bicycles. Ebike insurance is a multi-faceted policy, and it includes coverage for things like theft, vandalism, accidents with a vehicle, medical payments, property damage you cause while riding, and even roadside assistance if your ebike's battery dies away from home.
Do I Need Insurance To Ride an Electric Bike?
No, ebike insurance is not legally required in order to ride your bike. Although some insurance companies classify ebikes as a motorized vehicle, you don’t need insurance for an ebike as you do with a car. The decision to purchase ebike insurance is personal and, depending on the value of your ebike and your existing insurance policies, you might not even need it.
How Much Does Ebike Insurance Cost?
Prices are as low as $100 per year but the cost of ebike insurance is different for everyone. It depends on certain factors, like the type of ebike you have, the value of the bike, the coverage limit on your policy, your deductible, endorsements, discounts, and the insurance provider you choose. Unlike other kinds of insurance, your personal profile, like your age and credit score, is probably not going to affect your rate.
Is Ebike Insurance Worth It?
Ebike insurance can be worth it, but it’s not necessary for every ebike owner. If you have a home, renters, or condo insurance policy, your ebike may be automatically covered up to a certain amount. However, personal property coverage won’t have the unique protections you’ll get with a standalone ebike insurance policy, like roadside assistance, replacement cost coverage, or membership group discounts. If you want the added protection for your bike and yourself, purchasing an ebike insurance policy can be worth the cost.
Through our initial research, we determined that the market for ebike insurance is pretty small, and interestingly, most of the providers underwrite their policies through Markel Insurance. However, we identified eight standout providers and closely evaluated each one based on criteria like policy offerings, coverage limits, unique features, price, and ease of use. We then gave preference to companies that offered discounts and provided international coverage. It was from this list that we chose our top five.
AM Best. "Markel Insurance Company - AM Best."