Announcement

Collapse
No announcement yet.

How To Insure Your E-Bike

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Rossinonte
    replied
    Thank you for those posts RBF. Very informative. Just curious, at that price I could buy a new bike ($450), motor and battery every 4-5 years.
    Did you find this policy feasible for you?

    Does anything in this policy (bicycle damage) cover theft?
    Excuse my ignorance but why does an ebike need liability? Bike vs Pedestrian collisions I assume?

    Leave a comment:


  • RBF
    replied
    For those interested I just received confirmation that Markel (direct 1-800-236-2453 or online...not through Velosurance.com) will insure my 2016 Motobecane Boris X7 (with Bafang BBSHD, 52 Volt Battery, etc.) per the attached proposal. I worked with a Ashley Wilde at x233464...might save time to work with her as you will not be recreating the wheel with another customer service professional.

    Attached Files

    Leave a comment:


  • RBF
    replied
    I just read the story about how Velosurance started over tacos...guess what...they use Markel Insurance Company paper so we are talking about the same insurance carrier. Good to know.
    It all started over tacos

    Velosurance is a national insurance program founded by two avid cyclists, Dave Williams and Denis Voitenko in response to the insurance needs of bicycle riders nationwide.
    One very rainy day at a local taco joint in Fort Lauderdale we started discussing how badly home and renters policies insured bicycles. We knew there had to be a better way so we set about finding out how we could take a traditional piece of insurance and make it better, much better. On that wet day over tacos, Velosurance was founded.
    We partnered with Markel American Insurance Company, an A.M. Best, A rated, US insurance company, and a leader in recreational insurance, to offer a multi-risk bicycle insurance policy providing protection to all types of cyclists, and with none of the silly restrictions that other insurance wants to place on riders.

    Leave a comment:


  • RBF
    started a topic How To Insure Your E-Bike

    How To Insure Your E-Bike

    Hi Everyone:

    Full Disclosure...I am a personal/commercial insurance broker by trade and own Integra Insurance Services in Los Gatos, CA.

    I recently converted (with the help of my local bike shop) my first two e-bikes (Motobecane Boris X7 with BBSHD from LunaCycle and a Electra Townie 7D with BBS02...both run with Luna 52 volt packs). This week I rode to my office two times. Today I was approached by my entire personal insurance team asking me how I was insuring my new, awesome electric fat bike. I knew I was in trouble...I have been so excited about building and riding this bike that I did not think about how I was going to cover myself when I accidentally injure someone or damage their property while riding my bike around town, bike gets stolen...as we all know these builds can get quite expensive, etc. I was told by my team that this type of bicycle is not covered if ridden off of my property (driveway) by most insurance carriers (including my own carrier Safeco). Our team is seeing more and more people buying and riding e-bikes...many of which are not insured properly or insured at all...leaving many in the e-bike community uninsured.

    I did some research today and got in touch with Markel Insurance Company (a carrier that our commercial team uses from time to time to help our valued clients...I had no idea they had a division that insured e-bikes). Here is a link to their site http://www.markelinsurance.com/bicycle/resources/electric-bikes I am working with a woman named Ashley and giving her all the details of my build. They have restrictions on the size of motor 750 watts, etc. that they will insure. I ran some online proposals but even though the Luna/Bafang motors are stamped 750 watts I did not want to have a claim denied as they will investigate and find out these motors will do way more than 750 watts.

    Bottom line is to check with your insurance agent/broker to see if you can add your e-bike to your policy...if not, check out Markel and some of the other carriers out there...or roll the dice and pay your claim out of pocket.

    Ryan Fenchel
    Los Gatos, CA

Working...
X