Bike Insurance

[GuruUno]

Here are my coverages with Velosure, (redacted personal info).
As stated previously, these types of coverages cannot be beaten (in my opinion), especially if your "normal" insurance company will not cover e-bikes.
3 e-bikes, 2 2022 Como 5.0's and 1 2021 Vado 5.0 SL.
About $220 per bike per year (divided by 12 is $18.33 per month, not $42). (or $36.66 for 2 bikes) (or $54.99 per month for 3 bikes)
Additionally, if you only ride a specific number of months, then you can cancel the policy (say...for the winter, as an example), and if you decide to re-insure, it is good for a month, minimal, so you are not locked into the year if that is your desire.
See attached document example.

 

[Sparky731]

Another option I chose is a Personal Articles Policy. $600 for $8,600 coverage. No deductible, no depreciation for the life of the policy. Covered anywhere in US & Canada.

 

[Dewey]

I am confident Oyster's policies can match, if not beat, Velosurance. Game on!

Good to see more insurers offering policies to cover ebikes. One exclusion Oyster has is you state in your FAQ’s you don’t cover DIY ebikes. I am insuring my DIY ebike I equipped with a BBS01 Class 2 kit with a policy from Markel who underwrite Velosurance. Are you likely to extend your insurance to DIY ebikes in the future?

 

[m@Robertson]

Ther @Oyster guy hasn't posted here in months, and he's only posted three times... in this thread. I just took a look at their web site, and there's no way to quote coverage, but there is a slider to estimate your coverage cost if you sign up to "join the waitlist" (!). The max of $3000 in coverage yields $20 per month. You can use your right arrow key to find the rate for every $10 of coverage pretty easily, and the price goes up $1 per month for every $150 starting at $380. So at $530 in value, annual premium goes up to $4 a month, with the next increase at $680 in value and so on.

So my two bikes are insured at $6000 and $6500 each with Markel/Velosurance. I literally just added my Surly back onto my policy on Friday, removing my $3500 Mongoose Envoy (another full custom build). My payments for both bikes at $12500 in coverage is $50 per month. For Oyster, that rate would be $40 per month for one bike and $43 for the other one, totalling $83 per month. This assumes their rating structure maintains its straight line based on $150 value increments and does not change and turn into a curve at higher valuations.

In their FAQ they make very good points about how homeowners or renters coverage is generally a poor substitute for a dedicated policy. Including one I hadn't thought of: An ebike claim is a claim on your homeowners insurance and in that market the last thing you want to do is piss off your HO carrier and risk a nonrenewal unless you have a truly major loss.

 

[Dewey]

So my two bikes are insured at $6000 and $6500 each with Markel/Velosurance. I literally just added my Surly back onto my policy on Friday, removing my $3500 Mongoose Envoy (another full custom build). My payments for both bikes at $12500 in coverage is $50 per month.

That’s pretty good for the premium. I just renewed with Markel at $200 for my guesstimated $2800 ebike with a $500 deductible. The Oyster site had a quote function that churned out $199 so I’m sticking with Markel this year. I was hoping to get a quote from State Farm but I think theirs is just a personal property policy without liability or medical coverage. I maxed out my UnitedHealth deductible when I broke my leg in 2018 falling off my bike so I’m only interested in a policy that would include medical.

 

[m@Robertson]

The Oyster site had a quote function that churned out $199 so I’m sticking with Markel this year.

You couldn't use Oyster even if you wanted to. Its not a product that is available in the marketplace yet. :-(

I maxed out my UnitedHealth deductible when I broke my leg in 2018 falling off my bike so I’m only interested in a policy that would include medical.

Thats a good point. I need to find out what my health ins. deductible is, and what it would cost for Markel to cover it.

Last time I needed the coverage it was the driver who hit me who had to do the paying, but still...

 

[GuruUno]

That’s pretty good for the premium. I just renewed with Markel at $200 for my guesstimated $2800 ebike with a $500 deductible. The Oyster site had a quote function that churned out $199 so I’m sticking with Markel this year. I was hoping to get a quote from State Farm but I think theirs is just a personal property policy without liability or medical coverage. I maxed out my UnitedHealth deductible when I broke my leg in 2018 falling off my bike so I’m only interested in a policy that would include medical.

I recently shopped for Auto/Home/Umbrella policies and State Farm declares e-bikes as Motorcycle. And they were higher than Velosure.
Here in NJ Auto was twice of what it should be with Allstate, so we jumped ship after 45 years with them to NJM (New Jersey Manufacturers). Sadly, they don't cover e-bikes, so we keep Velosure....not a problem.