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 2024
- 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
- 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
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
- 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
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
- 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
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
- 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
Best for Multi-Bike Policies : Simple Bike Insurance
- 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.Final Verdict
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 |
Best Overall | A | Price by quote only | Ebike insurance | Phone, Email, and Live Chat | N/A |
Best Affordable Option | A | Starting at $100 per year | Ebike insurance | Phone | Mountain bike, triathlon bike, commuter bike, road bike, and bike roadside assistance |
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 |
Best for International Travelers | A | Price by quote only | Ebike insurance | Phone, Email, and Live Chat | N/A |
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?
Do I Need Insurance To Ride an Electric Bike?
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.