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The use of electric bicycle has been on the rise lately, and a lot of business men have started investing in the business of electric push bike rentals. Like most business, it is important to have the right protection for these bicycles on the road. Sharing the road with cars with little or no regards for e-bikes and motorcycles can be a big of a risk.

Electric bikes are expensive and pose high potential risks on the road which are typically not fully covered by rental company or car insurance. Though insurance is not compulsory for e-bikes, it will be a risky move for your electric bike not to be insured. Renter insurances typically offers limited coverage for theft, damage, or liabilities that are related to electric bikes because an electric bike is considered a motorized vehicle. Car insurance companies may not offer e-bike insurance, because e-bikes do not need to be registered and e-bikers do not need a valid driver’s license to ride.

In countries like UK, once you are 14 or over, you can ride an electric bike that meets certain requirements. These bikes are known as ‘electrically assisted pedal cycles’ (EAPCs). Riders do not need a license to ride this bicycle, and there is also no need for the bicycle to be registered.

Before a bike can be considered as an electrically assisted pedal cycles (EAPCs), it must

  • Have pedals that can be used to propel it
  • It must display either the power output or manufacturer of the motor, and the battery’s voltage or maximum speed of the bike.
  • Its electric motor must have a maximum power output of 250 watts, and should not be able to propel the bike when it is travelling more than 15.5mph

Once the bike meets the EAPC requirement, it can ride on cycle paths or anywhere where pedal bikes are allowed.

However it is important that the user considers getting covered by insurance.  Electric bike insurance does exist and it provides coverage between car, home, and renter insurance where there are gaps and fine print exclusions. A bicycle rental business may consider having the following insurance cover

  1. Premises liability insurance, to cover people who get hurt while in your office
  2. Theft insurance to cover the fleet
  3. Liability insurance to cover people who are hurt by your renters on your bicycle or hurt by your employees while on your bicycle.
  4. Business continuity insurance, in case there is a natural disaster and you have to close up for a month or two

Ride Electric is available to give you more information about how to get the best insurance cover for your electric bike renter business.

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