If insurance is mandatory for certain models of electric bikes, it is nevertheless optional for others. However, between the risks of accidents, theft, or damage, riding without insurance can quickly become a financial headache. Several questions come to mind. Which electric bikes must be insured? What are the risks incurred in the absence of insurance? And above all, what are the existing solutions to effectively protect your electric bike and ride with peace of mind?
In this section, we will answer each of these questions and determine what the best solution is to protect your bike from damage.
Should you insure an electric bike? What the law says
Electric bike insurance is not always mandatory. It mainly depends on its technical characteristics. To fully understand the regulations governing the coverage of this type of vehicle, it is important to distinguish between electric-assisted bicycles (EAB) and electric bicycles.
Insurance for electric bikes: mandatory or not?
On one hand, if your electric bike has a maximum power of 250W and its electric assistance does not exceed 25 km/h, then it immediately falls into the category of e-bikes. In this case, the law does not require you to have any specific insurance. However, having liability insurance is strongly recommended to protect you in case of an accident with a third party.
On the other hand, if your bike exceeds the limits just mentioned, it will be considered a moped or "Speedbike." This category of bike can reach a maximum speed of 45 km/h and must have insurance, particularly for liability. The speedbike must also be registered and have a license plate. Wearing a helmet is mandatory (take a look at our catalog on wee-bot.com!).
What are the risks of not having insurance for a speedbike?
Riding without insurance on a speedbike exposes you to heavy penalties. If there is a check, you could face a fine of €3,750, and your bike could be seized and confiscated. In the event of a responsible accident without insurance, you will have to personally cover the material and bodily damages, which can represent high costs depending on the situations.
As a result, even though insurance is not mandatory for an electric bike, it remains essential to avoid having to pay excessively high compensation. It's better to gather information before hitting the road!
Electric bike insurance: What does it actually cover?
Taking out insurance for your electric bike is an important precaution to ensure the use and value of your two-wheeler. To delve deeper into the subject, here are the main available guarantees and their limits.
Mandatory and optional insurance
As mentioned earlier, liability insurance is mandatory for the category of mopeds, but remains optional for e-bikes. Nevertheless, it proves essential in the event of an incident with a third party.
Next, theft and damage insurance is highly recommended, especially if you are riding in the city or if your bike was expensive. Be aware that thieves will immediately recognize high-value models and will not hesitate to take advantage of any opportunity. And in case of a fall or vandalism, this insurance can also cover repair costs.
Finally, accident and bodily injury insurance provides additional protection for the cyclist in case of injury. It can be an interesting choice for those who commute daily.
What home insurance covers (or does not cover)
It should be noted that some multi-risk home insurance policies include coverage for electric bikes. However, this is generally limited to theft at home. Thus, if your bike was stolen on the street, the insurance will not be able to help you.
This coverage through home insurance cannot be used for speedbikes, as mopeds require a specific contract.
Common exclusions
Before subscribing, we advise you to read the terms of the contract carefully. Some insurances require, for example, the use of an approved anti-theft device, otherwise they will not compensate for a theft. Others do not cover claims if you do not comply with obligations such as parking in a secure area.
How much does electric bike insurance cost?
The cost of insurance for electric bikes varies depending on the coverage chosen and several factors related to the bike and its use. We explain everything to you!
Average price by type of insurance
To begin with, know that liability insurance can be free if it is directly included in your home insurance. But in that case, it does not cover theft or repairs in the event of an accident.
On average, insurance for electric bikes costs between €150 and €350 per year. With theft and damage options included, the average price can reach just under €300.
For entry-level bikes (€100 to €2000), coverage will cost you around €150 to €200, while for high-end models (>€3000), you should expect to pay an average of €350.
The criteria impacting the price of insurance
It is therefore clear that the more expensive your bike is, the more expensive the insurance will be. A model costing €3,000 will logically require a higher premium than a model costing €1,000.
The place of residence is also an important criterion: in urban areas, where the risk of theft is higher, rates can rise quickly. Not to mention the choice of coverage which directly influences the price: comprehensive protection offers more security but will be more expensive.
Choosing the right insurance then requires finding the right balance between protection and cost.
Comparison of specific insurance for electric bikes
The market for electric bike insurance is very diverse, and it is important to understand the differences between the offers available. To choose the insurance that suits you, do not hesitate to compare the available options and understand how each contract can meet your specific needs.
Generalist or specialized insurers?
Large insurance companies often offer "basic" plans that include liability coverage. However, they may lack specificity for electric bikes. If you want more comprehensive coverage, you can turn to insurers specialized in two-wheelers. These insurers offer contracts tailored to electric bikes, covering risks such as theft, damage, or even breakdown.
The criteria to compare
When comparing offers, it is important to focus on elements such as the type of coverage and specific conditions. For example, specialized insurers may offer more comprehensive protection for electric bikes, particularly in the event of theft or damage after an accident, and some even include additional services such as bike loans in case of a claim.
Adapt insurance to your use
The key to good insurance lies in adapting the coverage to how you use your bike. If you ride regularly in the city or in high-risk areas, opting for theft and damage coverage may be more prudent. On the other hand, if you have a high-end electric bike, it is better to consider insurance with extensive protection.
Electric bike victim of a disaster: what to do?
If your electric bike is the victim of an incident, you must first understand the steps to take to ensure optimal coverage by your insurance. Here is a guide on what to do if your bike is stolen or damaged.
React immediately after a flight
The theft of an electric bike can be a stressful moment, but it is important to react quickly. As soon as you notice that your bike is missing, the first step is to file a report with the authorities. This report will be key to starting the claims process with your insurer. You will need to provide as many details as possible, such as the model, the bike's serial number (if you have noted it), and the location where it was stolen.
Don't forget that, in some cases, insurers require that your bike be secured with a certified lock for the theft coverage to be valid. Check the specific conditions of your contract for this requirement.
What to do if your bike is damaged or involved in an accident?
If your electric bike is damaged in an accident, the first priority is safety. Make sure you are out of danger, then take photos of the visible damage to the bike and the surroundings (if applicable). These images will serve as evidence in your claim file.
If the accident caused injuries, contact emergency services immediately and obtain a copy of the medical report if necessary. Documenting the circumstances of the accident is crucial for the insurer to properly assess your claim.
Report the claim to your insurer: the key steps
When you are ready to file your claim, it is important to do so within the time limits set by your contract (usually 48 to 72 hours after the incident). To avoid any mistakes, here are the steps to follow:
• Contact your insurer: Call or email your insurer to report the claim.
• Gather the necessary documents: Prepare all required documents (complaint receipt, photos, accident report, purchase invoice, bike serial number, etc.).
• Claim form: Most insurers will require a specific claims declaration form to be filled out. Make sure to provide all requested information accurately.
Expertise and reimbursement
Once your claim is submitted, the insurer generally conducts an assessment to evaluate the damages (in the case of an accident or a fall) or to verify the circumstances of the theft. Depending on your contract, the compensation may take several forms:
• Compensation in case of theft: If your bike is recovered, you will receive compensation for repair costs or for the replacement value of the bike. If the bike is not recovered, you will be compensated based on the initial purchase value, minus the deductible.
• Compensation for damages: If the accident has damaged your bicycle, the insurer may cover the repair costs or, in some cases, replace the bicycle in the event of irreparable damage.
If your claim is denied: what to do?
If your compensation claim is denied, it is important to understand the reason for this refusal. In most cases, insurers clearly state the reasons (e.g.: non-compliance with terms of use, deadlines exceeded, or absence of certain documents). If you believe the decision is unjustified, you have several options:
• Request a detailed explanation: Contact your insurer to find out exactly why your claim was denied.
• Call on a mediator: In case of a persistent disagreement, you can contact a mediator specialized in insurance disputes to try to resolve the conflict.
Specifically: should one take out insurance for their electric bike?
You will have understood, subscribing to insurance for your electric bike is not a decision to be taken lightly, especially if you ride it daily. In this last section, we will review the last important details to consider.
Who is insurance ultimately recommended for?
For a VAE, taking out insurance is an excellent way to protect yourself, especially if you are used to riding in the city, where the risks of theft and accidents are higher. Even though it is not mandatory, suitable coverage can save you a lot of trouble.
On the other hand, for a speedbike, insurance is a legal requirement. Without a valid contract, you expose yourself to severe penalties and significant costs in the event of an accident.
The right reflexes for choosing your contract well
Before taking out insurance, consider checking if your home insurance already covers your electric bike. This will allow you to make significant savings.
To find the best value for money, do not hesitate to compare the different offers on the market.
Conclusion
To conclude this topic, it is important to remember that electric bike insurance is a wise investment to protect against the risks of theft and damage. Before subscribing, be sure to carefully assess your needs and compare all offers to find the one that meets your expectations in terms of protection and cost.
And if you have consulted this article out of curiosity, while you do not yet own an electric bike, why not give it a try? At Weebot, we have a very wide catalog of models suitable for all profiles.