E-bikes are becoming more popular, but because they’re still new, the laws regarding their usage vary from state to state. Although e-bikes lack the power of motorcycles, several jurisdictions have passed laws mandating riders to have a driver’s license, helmet, and vehicle registration.
Electric bikes are costly, posing a significant danger on the road. While purchasing bicycle insurance may not be a top priority, it might save you a lot of money and time in the years ahead. It’s time to think about getting bike insurance, particularly if you ride your e-bike every day.
Let’s look at why getting e-bike insurance is a smart idea.
1. Your e-Bike Will Be Protected from Theft or Accidental Damage
According to the New York Times, e-bike theft increased from 166 in 2019 to 328 in 2020. With this much increase in e-bikes getting stolen, you would want to protect yourself from the cost of replacing your e-bike.
If your bike is stolen or gets damaged due to an accident or on purpose, having a decent bike insurance policy in place ensures that any repair expenses are compensated.
2. If You Are Injured, You Can Receive Compensation
Fortunately, serious bike accidents are uncommon. However, if the unforeseen occurs, having bike insurance in place ensures that you receive reimbursement when you most need it.
3. It Is Less Expensive To Insure An e-Bike Than To Purchase A New One
If you own or want to buy an electric bicycle, you know that it is a big investment. If some incident happens with your e-bike, your insurance will cover it without having you buy another one which is more costly than buying insurance.
4. There Are No Unpleasant Legal Charges
Liability insurance is more important for e-bikes. Because electric bikes go quicker and are heavier than bicycles, they pose a significant danger of inflicting property damage or physical harm to others. An e-biker who causes an accident without insurance may be held personally liable and face crippling financial consequences.
If you were in an accident that wasn’t your mistake, you might wish to file a lawsuit against the individual who caused it. Some bike insurance coverage will reimburse any legal bills you pay, assuring you; however, you need to address the problem quickly.
5. You Can Have A Peace of Mind
When you’re riding your e-bike on a new road or leaving your bike locked up while stopping for a tea, coffee, or grocery, knowing you have solid bicycle insurance coverage in place provides you with complete peace of mind.
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