A Victoria college student is frustrated after purchasing an electric bike last summer and received two tickets resulting in about $600 in fines – tickets that were given in error. With the increased popularity of ebikes, there is some confusion around the rules and regulations.
Although there is no requirement for ebike riders to get ebike insurance, it is a good idea to obtain coverage for damage to the vehicle, as well as third party liability and personal injury coverage. Many insurance companies do not offer a specific policy for electronic bicycles, but you can get coverage if someone is injured. Most ebike insurance is more related to an automobile than a traditional bike.
E-bikes can legally travel up to 32 km/hr and weigh up to 120 kg. An accident at those high speeds can do a considerable amount of damage and can severely injure yourself and others. If you are in an accident, you might be held liable, and as a result, pay damages.
How To Find An E-Bike Insurance Policy
Many insurance companies do not offer a specific policy for electronic bicycles. In fact, it can sometimes be challenging to find the right plan, since an e-bike is motorized, but not registered as a motorcycle or car would be.
Speaking to an ebike dealership or an insurance broker should be your first step. Consider asking about:
- If you are covered for damage to another vehicle, or when you injure someone else in an accident
- Whether the policy extends to friends that borrow your e-bike
- If the e-bike is covered when it is being transported and when it is in storage;
- Whether the policy depreciates the value of the e-bike annually, and by how much
- If the policy includes accident benefits coverage
There are several potential options for riders who are seeking e-bike insurance coverage. Make sure you do your research to find the one that is best for you.
For those looking, here are seven providers in Canada:
- Intact Insurance
- Think Insure
- Josslin Insurance
- The Co-operators
- Pedal Power Insurance
- Aviva Insurance
Why Do You Need Ebike Insurance?
Your home owners’ insurance may not provide adequate coverage for your ebicycle. Your coverage may fall short in all areas of coverage — damage, theft, liability and injury.
Electric Bike Liability Insurance
Accidents can happen anytime, and it’s better to be safe than sorry. If you cause an accident while riding your ebike, you might be held responsible to compensate others for damage to their property or person.
Ebike Personal Injury Insurance
Sometimes personal health insurance may not provide adequate coverage for medical expenses, disability, loss of income or death that results from electric bike-related incidents. Again, ebike insurance program can help cover these costs. Your ebike insurance policy can optionally provide coverage for the insured to help cover such risks.
Ebike Insurance for Theft or Damage
Your electric bike is expensive. Ebike insurance program can provide coverage against direct and accidental damage, due to upset or collision and risks such as from first, lightning, hail and vandalism. Electric bikes are also at significant risk of theft.
If you have any questions about ebike insurance or any ebike-related questions, please don’t hesitate to ask us at EbikeBC. We are experts in all things ebike related and will help you find the answers you are looking for. We have dealerships across the country including Victoria, Montreal and Vancouver.