Whether you want to explore your local roads or trails further, arrive on your daily commute without a sweat, or keep up with your partner who trains like a whippet, an e-bike can be a solution to many of these challenges.
We have teamed up with Bikmo to give our Ride Electric customers an exclusive 5% discount* on their e-bike insurance.
With Bikmo cycle insurance, you can enjoy riding your e-bike with total peace of mind. A policy covers your bike and kit against theft and accidental damage plus much more. You can also insure other non electric bikes too and benefit from a multi bike saving.
Bikmo’s research suggests e-bike owners are lower risk than non electric bike riders, and so offer a 25% lower premium* on e-bike insurance. Read their full reasearch here.
Use the code rideelectric when getting a quote to receive your exclusive 5% discount*.
For full policy benefits and to get a quote click here.
*Minimum premium applies. Bikmo Limited is authorised and regulated by the Financial Conduct Authority ref: 745230.
E-bike owners are 38% lower risk than a non-electric bike owner
Bikmo Bike Insurance Review
Here is their report findings for your reference.
You are over 5x more likely to claim for accidental damage than theft
We have asked 3,000 e-bike riders what types of incidents they already had with their e-bike. It’s not surprising that most riders are most worried about their bike(s) getting stolen, after all, you can’t ride if you don’t have a bike. However, according to our results as an e-bike rider, you are over 5x more likely to make a claim for accidental damage than theft – and the cost of damage can extend to almost the full price of a new bike. Over 20% of respondents who had an incident also reported an injury.
40% of e-bike owners are not insured
This one surprised us given the average price of an e-bike in the UK exceeds £2000. Most respondents (45%) cover their bikes on their home policy but we certainly recommend checking your policy to see if accidental damage, being the biggest cause of an incident as per the statistic above, is actually covered under your home policy as many don’t.
90% of e-bike owners own another bike
Which means for the vast majority of e-bikers it ain’t their first rodeo. Although e-bikes are bringing more people from cars to bikes, and some who have never previously owned a bike, for most of us it’s an evolution of our riding, enabling us to go farther with less effort, and arguably have more fun.
33% of e-bikes are used for commuting and we think this is going to increase
It’s perhaps no surprise that a key use for electric bikes is the ability to get from your home to the office without breaking a sweat, avoiding traffic and improving health at the same time. Our prediction is that this will increase significantly post-lockdown as commuters move away from congested public transport and choose greener means of transport.
We also have no idea what the ‘Other’ use is for 2% of those people surveyed!
55% of e-bikes are less than a year old
Which means the rate at which riders are switching to, or adding an e-bike to their collection, is happening faster than ever and there’s no sign of it stopping. The European Cyclists Federation (ECF) predicted in 2019 that over 100 million extra e-bikes would be sold in Europe before 2030 and we think they’re right. Have you bought yours yet?
The average e-bike costs between £2000 – £2999
For the majority of riders the price of their e-bike exceeded £2000, meaning that the average of bikes are based in a range between £2000 – £2999. Considering the aspect that most people also own other bikes in addition to their electric bike or pedelec, the total value of their rides can quickly reach five-digit amounts.