Experiences with ebike insurance

[Dirk-Jan Flying Dutchman]

Waiting for my Juiced HyperScorpion to arrive and considering ebike insurance. I'd like to tap into the collective wisdom of those here who actually had to deal with an insurance claim. I'm not asking for company names in order to get a quote. Nope, real-time, real-life experiences with 'them' by you please

As we know, once it comes to paying..., the fine print can slap you in the face, or their paying out process is like pulling teeth... Already found out e.g. that Markel does not insure above a 750W motor (mine will be 1000W), and a 28 miles limit. Most renter & home-owner's policies don't cover ebikes because they're considered motorized vehicles (if yours paid you out nevertheless, let us know).


Thanks!
Greetings from LA

 

[Dewey]

I had a good experience with Balance for Cyclists personal injury insurance, I fell off my Class 2 DIY kit converted ebike and broke my leg, I sent them my orthopedists assessment and they sent me a check for $750 which covered the co-pays for my PT. Bear in mind most of the cost of my injury went through my health insurance deductible/co-pays until I maxed out my out of pocket limit for the year (even without surgery) so it was expensive, but I appreciated the check covering those PT co-pays, some of which came in the following year after the out of pocket limit reset. Sadly Balance are currently on hiatus, I was told this was due to regulatory changes but they have been out of business since last summer so I don’t know when/if they will be back. I currently have Ebike insurance with Markel as my USAA renters insurance won’t cover me.

There are a couple of insurers new to me that come up on a Google search for ebike insurance, in addition to Markel & Velosurance (Markel), Sundays Insurance is available to Strava Summit members, and Spoke Insurance, both are also underwritten by Markel...

Safeco (Liberty Mutual) might cover ebikes under their Motorcycle policy in your state but check with your local agent, the difficulty with most motorcycle policies is they require a VIN number that ebikes don’t have.

 

[John from Connecticut]

Waiting for my Juiced HyperScorpion to arrive and considering ebike insurance. I'd like to tap into the collective wisdom of those here who actually had to deal with an insurance claim. I'm not asking for company names in order to get a quote. Nope, real-time, real-life experiences with 'them' by you please

As we know, once it comes to paying..., the fine print can slap you in the face, or their paying out process is like pulling teeth... Already found out e.g. that Markel does not insure above a 750W motor (mine will be 1000W), and a 28 miles limit. Most renter & home-owner's policies don't cover ebikes because they're considered motorized vehicles (if yours paid you out nevertheless, let us know).


Thanks!
Greetings from LA

Hello,

I have two Trek e-Bikes and Homeowners through Geico ( actually my policy is via Geico to a third party Ins Co. ) Anyway,
The Rep/Agent from Geico said my bikes are automatically covered under my HO policy for theft. I called Geico three times
asking the same coverage question , each time I was told my bikes are covered as personal property.

I'm only interested in theft coverage. I hope this was helpful.

John

 

[FlatSix911]

Good to know that Homeowners insurance will provide some coverage.

 

[Tars Tarkas]

Good to know that Homeowners insurance will provide some coverage.

Even if theft coverage is all you want, check with your insurance agent. My homeowners' policy only covers theft from home and there is a $1000 deductible (as on the rest of my policy). If my bike is stolen while I'm at the beach on vacation my homeowners' doesn't care.

My Markel policy covers just about anything and everything, theft, damage, liability, personal injury, and so on. I think I opted out of international coverage. That might have been another $10 (I don't remember), but I'm not taking my bike out of the country anyway. I'll have to check, it may cover me in Canada.

Anyway, to the original poster, Markel looks good on paper, but I haven't had a claim yet, so I can't speak to how they'll do then.

TT

 

[FlatSix911]

Even if theft coverage is all you want, check with your insurance agent. My homeowners' policy only covers theft from home and there is a $1000 deductible (as on the rest of my policy). If my bike is stolen while I'm at the beach on vacation my homeowners' doesn't care.

My Markel policy covers just about anything and everything, theft, damage, liability, personal injury, and so on. I think I opted out of international coverage. That might have been another $10 (I don't remember), but I'm not taking my bike out of the country anyway. I'll have to check, it may cover me in Canada.

Anyway, to the original poster, Markel looks good on paper, but I haven't had a claim yet, so I can't speak to how they'll do then.

TT

USAA covered a bike theft from my home previously... hope I don't have the opportunity to test any of the additional coverage.

 

[Tars Tarkas]

Yeah, I'm glad to have theft insurance, but it's the other coverage that's really important to me. I very much hope I never have a claim though, of course. In this litigious society, having liability insurance seems like a good idea to me.

TT

 

[Dirk-Jan Flying Dutchman]

I had a good experience with Balance for Cyclists personal injury insurance, I fell off my Class 2 DIY kit converted ebike and broke my leg, I sent them my orthopedists assessment and they sent me a check for $750 which covered the co-pays for my PT. Bear in mind most of the cost of my injury went through my health insurance deductible/co-pays until I maxed out my out of pocket limit for the year (even without surgery) so it was expensive, but I appreciated the check covering those PT co-pays, some of which came in the following year after the out of pocket limit reset. Sadly Balance are currently on hiatus, I was told this was due to regulatory changes but they have been out of business since last summer so I don’t know when/if they will be back. I currently have Ebike insurance with Markel as my USAA renters insurance won’t cover me.

There are a couple of insurers new to me that come up on a Google search for ebike insurance, in addition to Markel & Velosurance (Markel), Sundays Insurance is available to Strava Summit members, and Spoke Insurance, both are also underwritten by Markel...

Safeco (Liberty Mutual) might cover ebikes under their Motorcycle policy in your state but check with your local agent, the difficulty with most motorcycle policies is they require a VIN number that ebikes don’t have.

Thanks for the sharing of your experiences! Hope your leg is healing well! (thanks for the reminder to be extra careful on those fast machines...)

 

[Dirk-Jan Flying Dutchman]

Hello,

I have two Trek e-Bikes and Homeowners through Geico ( actually my policy is via Geico to a third party Ins Co. ) Anyway,
The Rep/Agent from Geico said my bikes are automatically covered under my HO policy for theft. I called Geico three times
asking the same coverage question , each time I was told my bikes are covered as personal property.

I'm only interested in theft coverage. I hope this was helpful.

John

Good to know indeed, and like to acknowledge your thoroughness. Hope you don't need it!.. And hopefully you have their confirmation in writing as well!

 

[BET]

My homeowners Allstate told me my e bikes are not covered. just got two e bikes and will get a policy for both.

 

[nf94]

I just got Velosurance / Markel for a Class 2 ebike, so I'll keep you posted. I commute in New York City, so I was wanting theft and medical insurance, which seemed like a good option. Geico said they do not do ebike riding insurance (perhaps homeowner property insurance is different).

 

[Tern 1]

nf94, hi and thanks for your comment. I just recently (6/30/20) purchased a Tern Vektron S10 to be compatible with apartment living and easy SUV transporting. Living in the Washington DC area, I checked into e-bike insurance including USAA (cars insured), Progressive, Eire (home owners insurance), Foremost, Liberty Mutual, GEICO, SAFECO, Velosurance and Markel. Only Velosurance and Markel would insure the bike to include theft, damage, liability, health, vehicle contact and roadside assistance. I've been surprised by the lack of insurance companies support for e-bikes. I ultimately went with Markel.

 

[nf94]

nf94, hi and thanks for your comment. I just recently (6/30/20) purchased a Tern Vektron S10 to be compatible with apartment living and easy SUV transporting. Living in the Washington DC area, I checked into e-bike insurance including USAA (cars insured), Progressive, Eire (home owners insurance), Foremost, Liberty Mutual, GEICO, SAFECO, Velosurance and Markel. Only Velosurance and Markel would insure the bike to include theft, damage, liability, health, vehicle contact and roadside assistance. I've been surprised by the lack of insurance companies support for e-bikes. I ultimately went with Markel.View attachment 59747

Sounds like I was in a similar boat. I wasn't sure whether I was going overboard with my Velosurance quote (I basically maxed out on every option), but since I use bikes instead of cars and the bus, and medical insurance in this country is on the worse end, I figure I need something to make sure I don't end up stuck with major hospital bills in the event of a bad accident. Everyone told me my renter's insurance would cover it, but I want coverage when I'm actually riding and using the bike, locking it up and such.

One insurance salesman pointed out to me that you can treat the Kryptonite anti-theft protection offer like insurance, which made me think differently about the price of Kryptonite locks. I had also wanted to carry a 16mm + motorcycle lock to up my security beyond bolt cutters, but the Kryptonite protection offer seems like a better deal, despite being somewhat redundant on top of Velosurance. At least they will cover the deductible (makes me rethink choosing the lowest Velosurance deductible option).

 

[Tern 1]

Great pointer. I have the ABUS Bordo Granit PLUS, Frame lock and Bosch downtube battery lock. I need to check into whether there is theft insurance associated with these items!

 

[Copyrider]

On the theft side, my renter's policy covered the theft of my Vado 4.0 (stolen from the garage of my building--neighbor left the door open overnight), almost no questions asked. I had filed a police report online with no investigation, other than to get a "pending" email confirmation from SFPD.

My insurance asked for that report confirmation and receipts for the purchase of my bike and accessories. I filed for replacement of my saddle and folding lock, too (an extra $350 loss).

I handled all of this by email/phone the first week of COVID lockdown in March, when all kinds of offices across the country were closed. SFPD even recommended I not have an officer come out, as it might be more than a week to respond with COVID restrictions. The confirmation I got from them was labelled "pending," So I was sure I'd have to wait for a final one.

To my pleasant surprise, I had a check in hand for my bike, saddle and lock, minus $500 deductible in about one week.

 

[Dirk-Jan Flying Dutchman]

On the theft side, my renter's policy covered the theft of my Vado 4.0 (stolen from the garage of my building--neighbor left the door open overnight), almost no questions asked. I had filed a police report online with no investigation, other than to get a "pending" email confirmation from SFPD.

My insurance asked for that report confirmation and receipts for the purchase of my bike and accessories. I filed for replacement of my saddle and folding lock, too (an extra $350 loss).

I handled all of this by email/phone the first week of COVID lockdown in March, when all kinds of offices across the country were closed. SFPD even recommended I not have an officer come out, as it might be more than a week to respond with COVID restrictions. The confirmation I got from them was labelled "pending," So I was sure I'd have to wait for a final one.

To my pleasant surprise, I had a check in hand for my bike, saddle and lock, minus $500 deductible in about one week.

What a great, happy story! Can you share the company through which you had the renter's policy?

 

[Copyrider]

What a great, happy story! Can you share the company through which you had the renter's policy?

Progressive. The claim was handled via something called "Homesite" in Salt Lake City. To add further drama to this story, I filed this claim with them on the same day as their medium-sized earthquake. Communications and internet were interrupted and everyone was hurriedly readying for COVID lockdown. I was sure my claim would be lost in translation somehow, but it was handled faster and easier than any I've ever had.

 

[Dirk-Jan Flying Dutchman]

Progressive. The claim was handled via something called "Homesite" in Salt Lake City. To add further drama to this story, I filed this claim with them on the same day as their medium-sized earthquake. Communications and internet were interrupted and everyone was hurriedly readying for COVID lockdown. I was sure my claim would be lost in translation somehow, but it was handled faster and easier than any I've ever had.

Now that's what I call grace in action

 

[peteh_2]

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.

 

[FlatSix911]

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.

Glad to hear you were covered... you will not regret it if you take your settlement and go with the Wattwagon.