Purchasing a new e-bike is exciting, and ensuring it’s protected is a crucial next step. Like many, I initially assumed homeowners or car insurance would suffice for my new class 2 e-bike. Quotes from specialized insurers like Velosurance and Spokes Insurance, around $130-$150 annually, highlighted the need for dedicated E-bike Insurance, but I decided to explore all avenues, including my existing insurance policies.
Contacting my insurance agent revealed a surprising option: a ‘sports equipment’ policy, initially intended for valuable billiards equipment, could be expanded to cover my e-bike. This Personal Articles Policy (FP-7940.2) from State Farm, designed for scheduled personal property, offered coverage up to $10,000 with a reasonable $75 annual premium and a $100 deductible, protecting against theft and damage. Crucially, after initial misinformation, it was confirmed that while ‘bicycles’ are typically excluded, e-bikes can be specifically included as ‘electric assist bicycles’ with underwriter approval.
This discovery was significant because homeowners insurance generally provides liability coverage, complementing the Personal Articles Policy for comprehensive protection. While specialized e-bike insurance providers like Velosurance and Spokes Insurance are valuable, checking existing policies, particularly for a Personal Articles Policy, could reveal a cost-effective and comprehensive e-bike insurance solution. It’s worth inquiring with your provider, especially if you have a policy similar to State Farm’s FP-7940.2, to see if your e-bike can be covered.
