Typical claim for an electric city bike has also risen from £1,500 in 2016 to around £2,000
Electric city bike sales have risen significantly in the last few years and it’s therefore no great surprise that electric city bike theft has gone up too. Aviva has reported a 37% rise in insurance claims in 2021 compared to 2020, contributing to a whopping 815% climb in the last five years.
The insurer reports that a typical claim for an electric city bike was less than £1,500 in 2016 but is now around £2,000.
The high value of many electric city bikes can potentially be an issue with some policies.
Property Claims Director Kelly Whittington commented: “Pedal cycles – and electric city bikes in particular – can cost hundreds or even thousands of pounds, so people should consider their cover carefully.
“Home contents insurance often covers bikes and electric city bikes while in the home, but there may be a single item limit for possessions stolen or damaged. More expensive models may need to be listed separately to ensure they are fully covered. Similarly, there may be a limit for items stored in sheds and outbuildings – often around £2,500.
“Some home insurance providers also offer a cycle add-on option to cover electric city bikes away from the home, while stand-alone special policies are available. However, thefts may only be covered if the electric city bike is in the customer’s control or locked or secured in accordance with the policy terms, so it’s always best to check with the insurer if in any doubt.”
The finding, from Dutch bike theft monitor SAFE, is borne of two trends.
Firstly and most obviously, sales are booming. Electric city bikes now account for over half of the country’s bike sales.
Secondly, electric city bike owners are thought to be significantly more likely to report that their electric city bike has been taken. SAFE say that electric city bike owners are more likely to have taken out insurance and would therefore need a police report to claim compensation.