Experiences with ebike insurance

Pete Harrower said:
I just had my Biktrix Swift stolen in Santa Monica, CA. I have a renter's insurance policy through Geico with Assurant. This was a relatively new policy (May 2020), and I asked a number of questions re coverage for the ebike before I executed the policy. Geico assured me that the ebike was fully covered. Fast forward to the end of July 2020, my bike was stolen (inside my apartment community behind two locked doors, secured with an ABUS lock...) and Assurant was excellent. Everything was handled online. I provided them the police report #, the contact info for the Apartment building to obtain video footage of the theft, an itemized inventory of the bike and accessory costs along with copies of receipts. Within 5 days of submitting the claim, I received the EOB and instructions for setting up the ACH transfer.

I had a bit of a nuance to my situation as Biktrix ultimately sent me a 17.5Ah 52V battery (for free) to make up for the shortfall in their original performance claims of the Swift but I provided Assurant all of the supporting email communication leading up to Biktrix sending me that battery (Assurant verified the fact set with Biktrix) and they valued the additional 52V battery at full replacement cost. So, a stellar experience with Geico/Assurant. I would highly recommend the pairing of Geico/Assurant, at least at it pertains to Renter's Insurance.

I'm now shopping for a replacement bike (considering the upcoming Watt Wagons Ultimate Commuter Pro) so will revisit the ebike coverage with Geico given this is a measurably more expensive bike. Hope this helps. Cheers.
Click to expand...

Questions: Was your ABUS lock a folding lock? Was it picked, or broken?
 
Pete Harrower said:
Folding lock. And, uncertain. The lock went missing along with the bike.
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Same here, the lock was gone, which led me to believe it was picked, or perhaps I hadn't secured it properly. I don't think someone who broke the lock would take the time to fold it up and neatly ride away with it, but that's just supposition on my part. I have a partial video of the theft, but the bike is parked just out of sight of the camera. The dude spends about 40 seconds with my bike before riding away...
 
I have read, somewhere in this forum, that Kryptonite insurance doesn't cover a lock busted via angle grinder. Can't vouch for this info, however.
 
Also, the same insurance company may have very different rules regarding ebikes depending on where you live.
 
SpeedNeed said:
Research shows ebike riders present 38% lower risk to insurers than riders of standard bikes
By Paul Norman
September 24, 2020 at 11:06 am

www.bikeradar.com

Research shows ebike riders present 38% lower risk to insurers than riders of standard bikes

Research carried out by Bikmo
www.bikeradar.com www.bikeradar.com

I have no idea about the accuracy or credibility, but I found it interesting.
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Tern 1 said:
Wow, this is a surprise. I would expect with the higher speeds the opposite would be true.
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That research is misleading for here - it's from a UK firm with UK data, and in the UK ebikes lack throttles and are limited to 16 mph, which is average at most by pedal bike road/hybrid standards. Increases in speed have exponential increases in harm, plus you attract more reckless riders with faster vehicles, so it really is useless for the American context, even if we're only talking Class 1.

Renters policies may cover theft outside the home - mine does, though it doesn't cover ebikes (Lemonade).

Another option might be moped insurance. An ebike might qualify for that, though I have no idea how that would affect the price vs ebike specific coverage.
 
Great topic! Thanks 😊 this answers many questions I've been kicking around for awhile! I had a car pull in front of me December 23rd. While it was fairly anticlimactic, it has had me thinking about helmets and insurance ever since! Hope 2021 is a banner year for everyone! Ebikes, too!

-Sunny
 
Just got my insurance bill from Allstate. My SD has it's own policy and costs $65 per year. Here are the details:

Coverage detail for 2020 Riese and Mueller
  • Liability Insurance $27.22 (Bodily Injury $100,000 each person $300,000 each accident (Passenger Liability is included) Property Damage $50,000 each accident)
  • Collision Insurance Actual cash value $9.69 Waiver of Collision Deductible Applies for Uninsured Motorists Property Damage losses
  • Comprehensive Insurance Actual cash value $10.56
  • Uninsured Motorists Insurance for Bodily Injury $30,000 each person $60,000 each accident $17.48
  • Off-Road Vehicle Optional or Added Equipment Limit $1,000 Included. This includes coverage for a trailer
Total premium for 2020 Riese and Mueller $64.95

Marc
 
marcparnes said:
Just got my insurance bill from Allstate. My SD has it's own policy and costs $65 per year. Here are the details:

Coverage detail for 2020 Riese and Mueller
  • Liability Insurance $27.22 (Bodily Injury $100,000 each person $300,000 each accident (Passenger Liability is included) Property Damage $50,000 each accident)
  • Collision Insurance Actual cash value $9.69 Waiver of Collision Deductible Applies for Uninsured Motorists Property Damage losses
  • Comprehensive Insurance Actual cash value $10.56
  • Uninsured Motorists Insurance for Bodily Injury $30,000 each person $60,000 each accident $17.48
  • Off-Road Vehicle Optional or Added Equipment Limit $1,000 Included. This includes coverage for a trailer
Total premium for 2020 Riese and Mueller $64.95

Marc
Click to expand...
Deductible?
 
marcparnes said:
Just got my insurance bill from Allstate. My SD has it's own policy and costs $65 per year. Here are the details:

Coverage detail for 2020 Riese and Mueller
  • Liability Insurance $27.22 (Bodily Injury $100,000 each person $300,000 each accident (Passenger Liability is included) Property Damage $50,000 each accident)
  • Collision Insurance Actual cash value $9.69 Waiver of Collision Deductible Applies for Uninsured Motorists Property Damage losses
  • Comprehensive Insurance Actual cash value $10.56
  • Uninsured Motorists Insurance for Bodily Injury $30,000 each person $60,000 each accident $17.48
  • Off-Road Vehicle Optional or Added Equipment Limit $1,000 Included. This includes coverage for a trailer
Total premium for 2020 Riese and Mueller $64.95

Marc
Click to expand...
Wow! That is super-reasonable!
 
Even the most expensive e-bike pales in comparison to the cost of a liability claim. Many on here have talked with their insurance carrier about theft and property damage coverage, but the real expense will be from injuring someone else in a bicycle collision that is your fault. A simple hospital visit could be over $10,000 and if the other person has a broken bone, it could be well in excess of that. Most homeowners insurance forms exclude "motorized vehicles" for liability. I would suggest everyone contact your homeowners agency or carrier to see what their form stipulates.
 
Pete Harrower said:
Folding lock. And, uncertain. The lock went missing along with the bike.
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I've read of a number of instances (inlcuding stolen bike reports on BikeIndex.org) where the bike thieves take the lock. Perhaps they don't want to leave anything behind (with fingerprints) as evidence?
 
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