part of an electric bike

Do you need insurance for an electric bike?

Sales of electrically power assisted cycles (EPACs), as they are more technically called, has rocketed over the last few years: 2019 saw the biggest year in history for electric bike sales in the UK (according to Halfords’ report) At the time of the report, there was an expected 30% increase in 2020 from the 2019 figures. This was written before Covid-19 and lockdown hit!

Duncan Sutcliffe, director, Sutcliffe & Co Insurance Brokers, commented: “We have seen an incredible increase in bike sales as more people are using their bikes as a way to get their exercise during lockdown. Now that is easing, more people are opting to cycle their commute, there are also those who want to continue their cycling hobby but need the added ‘oomph’ offered by the power assistance of EPACs – whether that be due to injury or age! Of course, there is also the obvious advantage of an EPAC on hills versus a standard pedal cycle, which is particularly useful for those whose route involves the Malvern Hills!”

However, with the additional technology required for an EPAC, there comes an associated price tag, so it is important that they are properly insured: a statistic from suggested that of the nearly 400,000 cycles stolen in the UK every year, only 5% would be covered by a standard home insurance policy.

Duncan added: “Many household policies do include additional cover for pedal bikes if you specifically request it. However, often this cover is restrictive, for example only when the bike is locked in your garage, or it doesn’t include ‘new for old’ nor accessories, nor public liability when out and about. If you are making a large financial investment, you need to make sure your insurance is suitable. We recommend you speak to your broker, or directly with your insurer, to make sure you understand the small print.”

There is also bespoke cycle insurance, which has been created to plug the gaps often found with standard home insurance policies, so your pride and joy is properly covered. Get in touch with our team to find out more either by calling us on 01905 21681 or contact us.