e-bike insurance: Is it worth it?

An e-bike is a bicycle that helps the driver to pedal with his own electric motor. For example, with this engine assistance, users can more easily negotiate inclines or drive faster with less effort. From a legal point of view, there is still no exact classification of the e-bike.

Often the term “pedelec” is used synonymously to e-bike. These two-wheelers are also bicycles with electric motor. Unlike a conventional e-bike, the engine can also be switched on by turning handle. Legally equated to the bicycle, pedelecs are equipped with a power limit of 250 watts and a top speed of 25 km / h.

So-called “S-pedelecs”, which offer higher speeds and higher engine performance, are considered low power mopeds. You need an insurance number and an operating permit. However, drivers do not need a driver’s license.

Moped license required with some pedelecs

If pedelecs have an engine up to 500 watts, a moped driving license is required to drive and the driver must be at least 15 years old. In this case, other provisions for insurance apply.

Insure pedelec as e-bike?

If you want to secure a pedelec with a conventional e-bike insurance, it must not go faster than 25 km / h and the engine must be less than 250 watts. If the service is higher, another insurance cover applies. You have to be registered as a moped and need liability insurance if you want to use it on the road. This liability insurance can be increased, for example, with a theft protection.

Why an e-bike insurance?

According to figures from the Zweirad-Industrie-Verband eV, the sales figures for e-bikes have risen steadily in recent years. In 2015 alone 535,000 of these two-wheelers were sold.

Rising demand also means an increased need for hedging. Because bicycle theft is also common in Germany. According to the German Insurance Association, more than 200,000 bicycles were stolen in Germany in 2014. According to GDV, the insurance companies paid out 100 million euros in damages this year (as of November 2016).

Basically, any theft is one too many. But who owns an e-bike, will be even more interested in a hedge in case of theft or damage. Compared to a conventional bike, an e-bike costs significantly more. For the purchase of an electric bicycle quickly more than 2,000 euros are due. Depending on the equipment and scope of performance, an e-bike or pedelec can also cost 5,000 euros and more.

A special e-bike insurance protects the owner from high damage as a result of damage or theft. Hedging can be done with a separate policy or by supplementing household contents insurance.

There are differences to a bicycle insurance: With a conventional bicycle insurance, on the one hand, the sum insured will be significantly lower. e-bikes can cost up to 5,000 euros and more. Accordingly, the coverage amount will be canceled. In addition, as part of an e-bike insurance usually also property damage or specific damage to the engine or drive are also insured. Bicycle insurance usually does not provide this protection because there is no engine.

advantages

  • The insurance covers if the e-bike was stolen or robbed.
  • In case of vandalism damages the insurance can be claimed.
  • Hedging is also possible with expensive bicycles.
  • The insurance cover can be customized.
  • A separate e-bike insurance usually has no night clause. Thus, there is insurance around the clock.

disadvantage

  • Such insurance causes additional fixed costs.
  • The insurance can usually only be completed within one year of the new purchase of the e-bike.

Hedging through home contents insurance

Many home insurance policies also include the protection of e-bikes. However, the services from provider to provider are very different. For example, the theft protection of home contents insurance usually refers only to included e-bikes and not to thefts when you are cycling.

In addition, the scope of insurance over home contents insurance is usually limited to a fraction of the sum insured. For example, if your household contents are covered by € 50,000 and the e-bike by 2.5% of the sum insured, your e-bike would only be covered by € 1,250. In practice, however, e-bikes are much more expensive to buy.

For these reasons, e-bike owners should always check carefully in advance what extent their household insurance can offer on e-bikes and compare these services and the costs with a separate e-bike insurance.

Advantages and disadvantages of e-bike insurance over home contents insurance

advantages disadvantage
  • Low additional costs to the normal household rate
  • No additional policy required, as existing policy is simply extended
  • Suitable for electric bicycles of low value
  • As a rule, no protection against vandalism damage
  • Theft protection only for the place of insurance
  • Limited performance
  • Insurance benefits usually depend on the total sum insured

Services: From theft to personal negligence

If a separate e-bike insurance is completed, you can make the insurance coverage depending on the provider and policy very extensive. The basic insurance covers the following damages:

  • Theft : The insurance provides, if the e-bike is stolen outside your living space or your property. Depending on the policy, the claims settlement after parts theft is also taken over.
  • Property damage : The policy applies to various property damage after falls, battery defects or electro-damage. Also property damage due to design flaws can be covered with the insurance.
  • Damage due to own and third-party debt : Depending on the scope of cover, e-bike insurance can also cover damage caused by falls or breakdowns as well as accidents.

The compensation can be made by a Neuradersatzleistung or by the cost assumption of repairs.

How do I behave in case of damage?

In case of damage, the same applies as with all thefts. You should report the theft to the police. At the same time, report the theft to your insurance company. The police will give you a file number for your theft announcement. This file number is usually required for the claim to your insurance company. After examining your report, the insurance company will usually settle the claim within 14 days.

Information by insurance comparison

An overview of the best offers for e-bike insurance can be obtained with the help of an insurance comparison on the Internet. Basically, you can take care of yourself for a good hedge. However, due to a variety of tariff options and various hedging options, for example via the household contents insurance, you can also take the assistance of an insurance broker.

However, it is important that you think about the scope of the insurance cover.

These comparison criteria can help you to choose the right e-bike insurance:

  • Should the insurance cover go beyond theft damage?
  • Does the tariff include night clauses or is the insurance cover valid around the clock?
  • Can individual components of the policy be individually graded?
  • What compensation does the insurer pay in case of damage?
  • Are there any discounts if I have already taken out insurance with the same provider?
  • Is it enough if I expand my own household insurance?
  • Do bicycle locks specified by the insurer have to be used?
  • Does the insurance also cover repair costs?
  • Is the motor or drive separately insured?
  • Are there any authorized repair shops for repairs?

Cost of e-bike insurance

If you take out a separate e-bike insurance, you should expect annual costs of about 200 euros.

The following “tricks” are available for saving:

  • Try to extend your existing bicycle insurance to e-bikes.
  • Use your existing home contents insurance and check the insurance coverage for e-bikes.
  • Try to bargain with some providers.
  • Use a rate on multiple e-bikes to get discounts.
  • If you go into repairs for repairs, you can save costs as with the car insurance.

Similar to car insurance, the term for many e-bike insurance is one year. For some providers, the insurance contract then ends automatically. If the e-bike is covered by household insurance, the term depends on your household policy.

questions and answers

How can the e-bike insurance be terminated?

If you want to cancel your e-bike insurance, the same conditions apply as for all insurance. You must adhere to the notice periods or you can terminate the insurance in the event of a claim or a premium increase without performance improvement.

What information do I have to disclose when the insurance is taken out? How do I choose the right amount insured?

When you complete the e-bike insurance, you must provide details of the model and your address and personal information. The address is important because the providers classify the insurance premium based on regional characteristics. In regions where more is stolen, the insurance premium will rise accordingly. The sum insured should be chosen so that you can buy a new e-bike in case of theft.

Many providers require minimum age of the e-bike

Note that most vendors only insure e-bikes that are no more than one year old.