E-Bike Insurance - is it worth it?
Let's face it, when you finally decide to join the e-revolution, there's a certain financial risk you assume whether you are fully cognizant of it or not. For most quality entry-level vehicles, you could spend anywhere from $1500-$2500. And this is for an "entry level" vehicle. Riding a $2,000+ vehicle around your neighborhood might seem perfectly harmless to you. And to you personally, it may not present much risk at all. This feeling can change on a dime if one day, you decide to park in front of your local post office while you quickly run in to mail some letters. When you return, you are shocked to see that your e-bike is gone - without a trace!
What will you do? Will the police retrieve it for you? Does your home insurance policy cover it? Or will you end up having to eat the loss? Most likely, the latter.
There are a dozen questions like those above that riders should ask and answer before parading their new new trophy bike around town. With so much money dangling on two wheels, its guaranteed that criminal minds are watching and thinking, "I wonder if this mark even knows how quickly I could cut his lock and toss his bike into the back of my van".
Locking your bike securely with a highly rated steel chain or cable lock is your first line of defense. But locks function more as a deterrent than an actual asset security tool. Most bicycle thieves can cut through any lock in under 20 minutes given the right tools.. Look up "Bicycle Theft Videos" on any search engine and watch how dozens of thieves grind through locks in a matter of minutes to lift their prize and race off into the sunset. Simply put, don't let your entire investment hang on the quality of your bicycle lock.
The good news is that covering your new e-bike requires no more than a few minutes of your time completing an online application. One of the most visible companies in the electric-bicycle industry is Velosurance. We are partial to Velosurance simply because our riders have found their custom quotes extremely affordable with a number of add-on benefits like roadside assistance, supplemental medical insurance, and uninsured driver coverage. The monthly cost of insuring your e-vehicle is well-worth it.
You will need to have your bicycle's serial number, make / model / year before you can fully complete an application. If you have trouble locating your serial number, check underneath the bike's bottom bracket, or else, just over your front fork on the head tube / steering column. If you have trouble, contact your dealer, or the manufacturer for help. Once you've submitted your information, an instant quote is provided with discounts for 1 to 3-year subscriptions.
As a fellow e-rider, l am fully aware that my potpourri of locks, cables, chains, alarms, and GPS tracking units will only go so far. What allows me to run errands, or to see a movie without the stress of wondering if my bike is safe and secure is the insurance policy number I carry in my wallet. If you really want peace of mind, spring for the coverage and sleep well at night.