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One of the most interesting vehicle hybrids on the market is the electronic bicycle or bike. A standard bicycle in all the essential ways, the electronic bike can best be described as a bicycle that has a motorized assist, usually from a very small engine or battery power that turns the rear wheel.

However, the electronic bike’s main power comes from the person riding it and their pedaling action. This article tells you how to protect your e-bike by purchasing decent electric bike insurance.

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The electric bike or e-bike goes back more than a century, with the first patents issued in 1895. However, the e-bike that we know today includes power controls and torque sensors, which were first developed in the 1990s. By the turn of the 21st century, the term e-bike was first used to describe a new class of power-assisted bicycles, with some reaching speeds of up to 50 mph.

Because of the increased speed, the need for electric bike insurance became apparent as these vehicles were more likely to become involved in serious accidents. While no state requires e-bike insurance, they are considered a good investment considering the cost of potential repairs and medical bills an accident might generate.

Insurance for Electric Bikes:

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When it comes to getting e-bike insurance, you start with the overall value of your electronic bike and then look for the type of coverage that best suits your needs. The good news is that most forms of insurance for electronic bicycles are relatively inexpensive and often cost, on average, $200 or less per year, depending on several factors. Spending this amount on electric bike insurance is worth it, especially in the long run if an accident occurs.

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If you own an electric scooter, proceed here for more insurance information.

Liability: This is coverage in case the policyholder is the responsible party in an accident that causes damage to other property or injury to another person. Because liability insurance for e-bikes is so low, it is possible to get ample coverage for less than $200 per year, which may act as financial protection against being sued.

Medical Payments: If you are injured due to an accident, you may be covered for medical payments. Such payments may include the direct treatment of the injuries and even a stay in the hospital. Such insurance is generally quite cheap because of the very low risk of being involved in a serious accident. Most accidents involving e-bikes result in very minor to no injuries that occur.

Coverage against Damage or Theft: This is arguably the most common type of insurance for this type of vehicle because damage may become expensive, and it is relatively easy to steal. As with all insurance, a deductible must be considered for this coverage.

In addition, some riders cover total loss, crash or accident failure, roadside assistance, and rental bike situations. In these cases, you’ll want to review the necessary coverage to see if it works for your particular needs. The best e-bike insurance provides the coverage you want at low, affordable premiums.

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The premiums will depend on some factors, starting with the type of insurance you want for your electronic bike. It should be the type that offers the best benefits for your particular needs. For most people, liability and uninsured or underinsured motorist provides solid protection at a very low cost. However, theft insurance can also be quite important, so consider all the options before making your decision.

Filing a claim for your bike insurance starts with the agent who sold you the insurance policy. Obviously, you’ll want to review your policy and see if there is a special claims agent to call. However, your insurance agent can provide you with the proper information to ensure that you make the right call. As with most claims, you may need to provide additional information such as bills, photos of the accident, etc.

However, most minor claims get processed within a couple of weeks so that you can be reimbursed for what you spent. Claims may be processed faster if you have all the information needed and follow up with the claims representative regularly to ensure that the process goes smoothly.

How to Get Affordable Electric Bike Insurance?

Getting affordable e-bike insurance starts when you look over the companies that offer this particular type of policy. You can perform an online search or work with an independent agent representing many insurance companies. Some websites will include free quotes for this type of insurance for electric bikes, but remember that most types of this insurance will be relatively inexpensive.

Factors considered when getting a premium to include your age, driving record, and the engine’s overall power. All three factors play a strong role in the risk factors that insurance companies must consider when offering this type of policy. The type of electric bike may be another consideration. For instance, the costs and benefits of folding electric bikes might differ slightly from the standard ones.

Basically, a person over the age of 26 with a good driving record and a low-powered e-bike will get the most affordable type of insurance. Anyone outside that range will face higher premiums, particularly if they have a poor driving record. The new young drivers are supposed to pay higher premiums due to a lack of experience.

Here are a few tips to help you save money on your purchase of electric motorcycle insurance. Each one you can add will reduce your rate even more.

Higher Deductible: This is a classic means of lowering your monthly premium by raising your deductible. However, you’ll need to have that amount in your savings account if you want to cover your chosen deduction.

Bundling: If you choose to have your electric bicycle policy with the same company that has your auto or home insurance, you might be able to get a discount and bundle them all together.

Liability & Uninsured Motorist: This is the most economical of all the electric bike policies on the market today. It will cover those who injure any property that gets damaged while protecting you from an uninsured motorist at a very low rate.

Taking part in a motorcycle safety course is a great way to get discounts of up to 10%-15%.

In the end, electric bike insurance will give you peace of mind if you get into an accident.

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Author

Mike Navarette has more than a decade of experience in the auto insurance industry, but that's not his true passion. He loves getting on a motorcycle to explore roads he's never traveled. You'll find Mike in the garage working on something when he isn't helping clients or leaning into curves. It's sometimes a side hustle, more often a favor, but it keeps his hands busy doing something productive. Since the first time his father strapped on his helmet and took him for a ride, Mike has loved bikes. That passion, along with a desire to help others through a deep understanding of insurance policies, led to the creation of Motorcycle Ride Coverage.

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