Leading Electric Bike Insurance Companies in the USA

Whether you rely on it for commuting and errands or just casual use, an electric bike (or ebike) can be a pricey investment. And if you’re riding it in cities or on busy roads, you’re also running the risk of getting in an accident or otherwise damaging a car or hurting a pedestrian. Some homeowners’ policies cover bikes that are stolen from the insured home, but coverage is often limited and doesn’t apply to other losses. Ebike insurance fills this gap in coverage.

Here, we rounded up the best ebike insurance so you can protect yourself. To find the best companies, we analyzed multiple areas of importance when it comes to ebike insurance, including cost, available coverage and discounts, deductibles, the availability of roadside assistance, rental reimbursement, and worldwide coverage.

Best Electric Bike Insurance Companies

  • Best Overall: Markel
  • Best Network of Bike Shops: Velosurance
  • Best Commuter EBike Insurance: SPOKE
  • Best Multi-Bike Policies: Sundays Insurance
  • Best Policy Bundling: Progressive

1. Best Overall: Markel

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Markel is a top-rated insurance carrier that offers ebike insurance for as little as $100 per year. Like other providers on our list, Markel only insures bikes with motors that are 750 watts or under, including pedal-assist ebikes with a top-assisted speed of 20 mph, throttle assist ebikes with a top-assisted speed of 20 mph, and pedal-assist ebikes with a top-assisted speed of 28 mph. 

Physical damage insurance is available with deductibles between approximately $200 and $500, which includes vandalism, crash damage, and collisions with another rider—with coverage options for racing, too. Additional protection is available at no additional cost, including spare parts and accessories protection (up to around $1,000 total per term), replacement cost coverage (at full value), theft protection, and transit protection (within the U.S. and Canada). Worldwide physical damage is also available.

2. Best Network of Bike Shops: Velosurance

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Velosurance is a national insurance carrier that issues ebike policies underwritten by our top pick—Markel American Insurance Company. Core Velosurance policies start at roughly $100 per year and include protection for accidental damage, theft, and loss in transit, but customers can customize their plan with a number of add-ons.

As with Markel, Velosurance provides policies for all electric-assist bikes up to 750 nominal watts. Bikes are insured at their full value—rather than being depreciated over time—so you’ll be able to replace your ebike with something similar in the case of a total loss. Additional coverage options include: medical coverage, roadside assistance, including up to 35 miles of transportation per breakdown up to five times a year, and liability protection with coverage limits of approximately $25,000, $50,000, or $100,000 per occurrence.

3. Best Commuter EBike Insurance: Spoke

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SPOKE was the first bicycle insurance company in the U.S.,Founded in 2012nd provides comprehensive, stand-alone bicycle insurance, including for ebikes.The carrier is also worth highlighting because it offers ebike- and commuter-specific policies for as little as approximately $100 per year.

And, as with Velosurance and other Markel providers, roadside assistance is available and features a network of more than 10,000 tow truck companies across the U.S. and requires prospective clients to provide their contact information before obtaining a policy quote.

4. Best Multi-Bike Policies: Sundays Insurance

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Sundays doesn’t provide any general pricing information on its website, but it makes it easy to get a comprehensive quote without having to provide personal information like your Social Security number or home address. It’s our top choice for multi-bike policies for the same reason—it’s incredibly easy to add multiple bikes when building an estimate. 

For example, a New York-based owner with a $1,500 ebike, five years of riding experience, and primarily casual and commuter use, could have a policy that costs around $30 per month ($365 per year) with a deductible of about $300. This coverage and pricing are a sample we obtained, prices will vary based on your own personal information and area.

5. Best Policy Bundling: Progressive

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If you have a standard homeowner’s or renter’s policy with Progressive, your bike may actually already be covered as “Personal Property” if stolen. Keep in mind, however, that your bike would not be covered if there is damage caused by crashing unless you add it to your policy as a separately covered item.

In addition to the convenience of adding a bike to existing coverage, Progressive makes it easy to save money by bundling policies. Not only can customers bundle an auto policy with a home, condo, or renters policy, they can also build a customer bundle to earn a multi-policy discount. For example, by bundling home and auto, you can save an average of 15% on your auto policy. 

Final Thoughts

As electric bikes continue to gain popularity in the USA, finding a reliable insurance provider becomes even more important. The leading companies in this sector offer comprehensive coverage options, including theft, damage, liability, and personal injury protection.

When selecting an insurance provider, consider factors such as coverage limits, deductibles, customer service, and the ease of filing claims. It’s also beneficial to read reviews and compare quotes from multiple providers to find the best fit for your needs.