How to choose your electric bike insurance?

How to choose your electric bike insurance?

Are you considering buying an e-bike, an e-bike or a bicycle that you want to insure against theft or damage? This article explains what insurance covers, at what price and how to choose your contract.

Why bike insurance?

Unlike car insurance, bicycle insurance is not compulsory. Yet faced with the increase in sales of bicycles and VAE, this insurance is increasingly taken out. It covers the theft of the bike and the damage it may suffer.

Depending on the insurance and options, the annual cost of bicycle insurance is 4.5% to 7% of the purchase price of the bicycle. This insurance covers the theft and damage to the bike better than home insurance, which can be quite restrictive (for example on the times during which the bike is stolen).

For bicycles costing more than 1000€ (very frequently the case with an electric bicycle), bicycle insurance is therefore a wise choice. It generally reimburses the bike with a low deductible and no obsolescence rate for the first few years (variable depending on the insurance).

🔎 Bike theft: in Paris, bike thefts constitute 80% of vehicle thefts. One in five stolen bikes is an electric bike. In France, 500,000 bicycles are stolen each year and only 3% are returned to their owner without identification (source: Ministry of the Interior).
🚴 Is bike insurance compulsory?
The classic bike

It is not compulsory to insure a classic (non-electric) bicycle but they can generally be covered on the same type of insurance as electric bicycles.
The electrically assisted bicycle

The electrically assisted bicycle (VAE) has an auxiliary motor which cuts off when the speed exceeds 25km/h and/or the cyclist stops pedaling. Note that financial aid is offered by the State for the purchase and use of a VAE. The insurance mentioned on this page concerns the VAE. Insurance is not compulsory for the VAE.
The electric bike

Its speed can reach 45km/h and its electric motor works whether the cyclist is pedaling or not. It is compulsorily insured, registered and is assimilated to a land motor vehicle. The "AM" license (former BSR, road safety certificate) is required for its piloting. This type of bike is not allowed on cycle paths and wearing a helmet is compulsory. The insurance mentioned on this page does not concern this type of bicycle which must be covered with insurance such as moped insurance.
What types of bicycles are insurable?

Bicycle insurance covers a multitude of types of bicycles:

    city ​​bikes
    VAE (electrically assisted bicycles up to 25km/h)
    Mountain bikes and VTTAE (electrically assisted mountain bikes)
    Racing bikes (electrically assisted or not)
    Cargo bikes (electrically assisted or not)

The most advanced bikes can cost several thousand dollars. The insurances provide for a ceiling (before application of the deductible) which can vary between €8,000 and €10,000. So be aware of this ceiling if your bike is expensive.

🔎 Electric bikes, bikes or mountain bikes are not insured by "bike" insurance when they exceed 25 km / h but by moped insurance.
📋 Bike insurance guarantees
Theft insurance

If you are comparing several bike insurance policies or even home insurance policies that can cover the theft of your bike, you should look at two important points:

    The obsolescence rate applied and its evolution over time after the new purchase.
    The deductible applied. You have to see if it applies to the new value or the discounted value (it is better to be in the second case)

🔎 Example of obsolescence rate: if your bike costs €4000, a obsolescence rate of 1%/month is applied and the theft occurs 20 months after the purchase of the bike, you will be reimbursed on the basis of 80% of the purchase value of the bike (100% - 20 x 1%), i.e. €3200.

Theft insurance will work if you have secured your bike with a certified lock. Check the model required by the insurer. For VAE or VTTAE (electrically assisted bicycle), Cyclassur requires that the bicycle be attached to two locks, at least one of which appears in their list of approved locks.

A waiting period may apply, during which the bike may possibly be found. If found damaged, insurance may pay for repairs. This is the case of Qover-Me insurance. After the waiting period, the insurance then covers the reimbursement of the bicycle to which an excess applies, ie an amount which will not be reimbursed and will remain at your expense.

In the event of theft, file a complaint within 24 hours and immediately follow the claims procedure detailed by your insurer. The declaration of theft to your insurance must generally be made within 48 hours.
Theft of battery and fixed equipment