Electric bikes are becoming an increasingly popular form of transportation and recreation. But, while they are fun, they can be expensive to replace, and can certainly cause damage to other parties.
The question becomes: How does your home insurance cover your E-Bike? While “human-powered” bicycles are covered for liability and most physical damage losses under a standard homeowner’s insurance policy, the addition of a motor makes it a “motorized vehicle” and therefore, excludes it from coverage on most home insurance policies. However, some insurance carriers are considering the E-Bike to be similar in nature to the human powered bicycle, and are covering them in the same manner as they would if the bike did not have the electronic motor.
Additionally, there are insurance carriers that are offering stand-alone policies for E-Bikes. The stand- alone policies may offer broader coverage than the home insurance policy, but they can be relatively expensive. The cost effective option is to have the coverage included on your home insurance policy, if possible.
To check to see if your home insurance policy provides insurance coverage for your E-Bike, please contact your insurance professional at Hatter, Williams & Purdy Insurance.