How do I value my e-bike for insurance?

It’s little wonder so many e-bike owners opt for insurance cover. Electric-assist cycles are pricey – even their batteries can cost £500 to replace if they’re pinched.

However, while most cycle insurance providers now cover ebikes as standard, their policies all differ – not least in how they’ll calculate your settlement in the event of a claim.

For example, some insurance providers boast about replacing stolen bicycles on a new-for-old basis, but read the small print and you soon discover all is not as it seems; in some cases, once your bike is 3 years old it no longer qualifies for new-for-old replacement, while other providers exclude second-hand bikes.

Here at ETA cycle insurance, we don’t think that’s right. We never devalue bikes in that way – no matter their age.

How much is my ebike worth?

When you insure an e-bike you’ll often be asked its replacement value. When it comes to covering a brand new ebike, it’s easy because you’ll have a receipt which will give you the insured value as well as serving as a proof of ownership. If you’ve bought the bike at a discount, remember to insure it for its regular price.

If you cover your e-bike with us and don’t have a purchase receipt, we’ll ask you to get it valued at a cycle shop; the paperwork you’re given can serve as proof of ownership. And if the ebike you’re looking to insure is discontinued, your local bike shop can also point you towards the nearest equivalent model. Don’t forget to keep an eye on e-bike values as it’s not just the retail price of  bikes that can fluctuate from year to year – specifications change and models are discontinued.

It’s important to get it right. Over-insure your bicycle and you’ll be paying too much for your premium. Under-insure the same bike and you may be out of pocket if it gets pinched.

ebike batteries can cost over £500 to replace – check whether or not your insurer will cover this

The ethical choice

The ETA was established in 1990 as an ethical provider of green, reliable travel services. Over 30 years on, we continue to offer cycle insurance , breakdown cover  and mobility scooter insurance while putting concern for the environment at the heart of all we do.

The Good Shopping Guide judges us to be the UK’s most ethical provider.