BikeBiz Bicycle and cycling retail news
What is claimed to be the UK’s first dedicated electric bike insurance policy has been launched.
The British Electric Bicycle Association (BEBA) and Velosure have worked together on the package, with BEBA officials accounting for the needs of e-bike owners in the policy.
The comprehensive policy includes protection against theft and accidental damage, public liability up to £2m for BEBA members brands (£1m for non-BEBA member brands) and new for old cover up to three year for BEBA member brands (up to one year for non BEBA mmember brands). The policy also includes 21 days European cover, free legal assistance, breakdown cover and the ability to build up no claims.
Crucially for local electric bike shops, the policy holder has a choice of repairer too. There’s an automatic five per cent discount for purchase through the BEBA website and policies for a £1,000 bike start at £76 per year.
“The industry has needed a dedicated policy to cater for the thousands of electric bicycle owners on the roads in the UK for some time now,” said BEBA chairman Mark Loveridge. “With our team we have developed a policy that has all the essentials required plus some nice to haves, such as breakdown cover and ‘new for old’ replacement.
“There is now an even stronger need to join BEBA in its efforts to grow the UK electric bike market.”
Velosure MD Ken Specter added: “We are very please to have worked with officials at BEBA to create a tailored policy for electric bike owners. Not only does the policy cover all the needs and requirements, but it is also available at an affordable price.”
