Electric bikes have never been as popular as they are today, as new models improve their strength, durability and battery life. Sadly bikes have long been a common target for thieves, so the high value of an electric bike make them even more at risk. Ensuring you always lock your electric bike in a safe place can help reduce the risk, but having insurance cover is the only way you can have complete peace of mind.
Why Do I Need Insurance For My Electric Bike?
As well as the chance of theft, electric bikes may also need repairing if anything ever goes wrong with them, which is another good reason to have insurance. The cover you will need will depend on who you are, where you keep your bike and where you take it. This is because the cover is similar to car insurance, which means that each policy will vary from one insurer to the next.
Finding cover is not always completely straight forward, many companies have boundaries on the minimum and maximum ages for people using their policy and set out clear conditions including excesses of up to £100. Just like any other insurance, among the sea of options there will be a few that stand out and provide you with the cover you need.
What Should I Look For When Searching For An E-Bike Policy?
- Ensure they are authorised and regulated by the Financial Conduct Authority. This guarantees they are a genuine company who follow the industry regulations.
- Ensure they have their contact details clearly stated on the website. This sounds obvious but some people attempt to create fake insurance companies and scam customers.
- Look for excesses or minimum claim amounts. This is the amount you will have to pay in if you decide to make a claim, and the lowest amount you can make a claim for, which means you can only claim when the bike breaks, not just for minor faults.
- Is their site easy to use? If not then you already have an indication of how good they are as an insurer.
- What percentage of claims do they pay? If they hide the information or don’t know, then question why this is.
- Look at the cancellation terms. Details can be hidden in the small print so make sure you know exactly what you’re getting from the policy before you take it out.
- Make sure the cover meets your needs. There can be confusion surrounding insurance for electric bikes, so make sure both sides fully understand what you’re after. Finding an insurer that has experience in e-bike policies is the safest option.
Find Your Perfect Electric Bike At The Electric Bike Store
Looking to buy an electric bike? The Electric Bike Store offers a wide selection of electric bikes and accessories at competitive prices. We understand that it can be tricky to choose the right electric bike for you, which is why we welcome you to try any of our bikes at our traffic-free test sites in London and Buckinghamshire.
If you would like to find out more about electric bikes, contact us by filling in our online contact form, or speak to one of our experts on 020 7378 4728 and we will be happy to answer any of your queries.