Is It Necessary to Buy Electric Bike Insurance in the UK?

As electric bikes start to become more popular in the UK, many people have started asking whether they need to buy electric bike insurance in the UK to ride their e-bike legally on UK roads. So that’s what we’re going to be answering today - if you want to ride your e-bike on UK roads, do you need insurance? And what about electric bike insurance specifically? We’ll cover all this and more in this complete guide on getting electric bike insurance in the UK.

An insurance policy geared explicitly towards electric bikes can help ensure you are covered in damage or theft, but this isn’t the only reason to buy one. Here’s what you need to know about the ins and outs of e-bike insurance in the UK. Many people think that electric bike insurance isn’t necessary. Still, in reality, it can save you from paying hundreds or even thousands of pounds in damages if something unfortunate happens to your e-bike. Read more to find out more about whether it’s necessary for you to buy electric bike insurance and how Hovsco can help you with all of your e-bike needs.

Do I need specialist cover for my electric bike in the UK?

Specialist cover is needed for a regular bike, but not necessarily for an electronic bike. An electronic bicycle is treated like a bicycle in terms of liability and its need for special insurance. When taking your e-bike on public transport or any other places where cyclists are banned from going, you’ll want comprehensive cover, just as with any car. While there isn’t a massive market for e-bikes in general, they’re still a relatively new technology in the UK and could be susceptible to damage from other road users. For example, e-bikes can run at higher speeds than standard bikes; collisions can result in serious injuries. To be safe, make sure you take out protection against theft and damage so that you don't end up paying through the nose should something go wrong.

How much does it cost to insure an e-bike in the UK

Generally speaking, premiums cost between £20 and £60 per year. However, if you have a history of car accidents, e-bike insurance might be more expensive. Some insurers won't cover e-bikes if you've been involved in an accident with another vehicle within three years before purchasing an e-bike. Ask your insurer what their requirements are before buying e-bike insurance. If they don't cover e-bikes because of your history with other vehicles, it's time to shop for another insurer.

How long will my e-bike insurance policy last, and can I renew it if needed?

The good news is that e-bike insurance policies are relatively cheap, especially with a car or home content insurance. So it makes sense to take care of your e-bike and keep riding for years to come. An e-bike policy will typically last between 12 months and 3 years, depending on where you live in the UK. If you want to renew your policy after one year, then contact your insurer as they will advise whether they will offer an early renewal discount or not.

When you pay for e-bike insurance in the UK, what are you paying for?

When you purchase a bicycle, you automatically get third-party liability cover as part of your package. Third-party liability is the maximum amount that an insurer will pay if your negligence causes injury or damage to someone else or their property. If you injure another party with your bicycle, they can claim against you, and your insurer will pay any legal costs and compensation.

Third-party liability is different from third-party cover, which protects damage caused by theft of your bicycle, accidental damage caused by your bicycle, and breakdown cover for mechanical issues. Although some e-bike insurers may include similar protections on their policies, others may not include any.

The reason why insurance coverage is needed for my e-bike in the UK

Insurance coverage is one of those things that you never think about until something goes wrong. Once you’ve got it, you forget that you had a reason to buy it. The same is true for your e-bike or any other mode of transportation and its riders; they need coverage. At Hovsco e-bike, we advise and ensure that all our customers get an insurance coverage.

Here’s why riders should buy e-bike insurance in the UK. If an e-bike rider gets into an accident with another person or property, then motor vehicle insurance will cover all costs related to that accident. E-bikes can be very expensive, so if yours were damaged or destroyed in an accident with another person or property, it would cost a lot of money to replace. Motor vehicle insurance will cover these costs so long as there was no negligence on behalf of the e-bike owner. These lawsuits won’t affect you as much financially if you have motor vehicle insurance since your policy will cover them.

How old do I have to be to be insured on an e-bike under my parents’ policy in the UK?

To legally ride an e-bike, you must have a category B cycling license, which requires 16 years. Suppose you don’t have one of these. In that case, you’ll need third-party liability insurance as proof of your ability to safely ride an e-bike on public roads and avoid accidents with other drivers or pedestrians. If you want to be insured under your parents’ policy, most providers require at least 18 years of age for third-party liability coverage. Some providers offer cover for younger riders, but those policies are usually more expensive.

What if my insurer goes bust while my policy is still active – will this cause me problems?

If you have health coverage and your insurer goes bust, don’t worry – you will be covered. All policyholders must be insured by an insurer authorized by either Financial Conduct Authority (FCA) or Prudential Regulation Authority (PRA). If they aren’t, then they are operating illegally. Insurers are overseen and monitored by these bodies. It’s also worth noting that if a claim has been made against your policy but has not been paid out yet, you can get compensation from a government-backed scheme called Financial Services Compensation Scheme (FSCS). The FSCS protects up to £85,000 of savings per person per firm. For example, if you had £70k in one bank and £15k with another insurer who went bust while paying out on a claim for £100k total - then you would still receive at least £85k back from FSCS. In short: it's not worth worrying about.