Survey shows eBike users to be 38% lower risk to insurers than non-assisted riders

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A survey by specialist cycling insurer Bikmo has concluded that eBike users are a 38 per cent lower risk to insurers than non-assisted riders, which is good news for commuters who are looking for a slightly easier ride that could turn out cheaper in the long run.

The results of the survey of 3,000 riders in the UK, Ireland, Germany and Austria –conducted before the Europe-wide coronavirus lockdown – has encouraged Bikmo to reduce their eBike insurance premiums by 25 per cent on new policies.

"Believing firmly that eBikes play a central role in the future of cycling, we want to lead the way in encouraging more people to discover the many benefits they offer," said Bikmo CEO David George in a press release on Monday.

The company said that there were various factors that accounted for the disparity in risk between the two types of bike, including 33 per cent of survey respondents using eBikes primarily for commuting, as well as a belief that eBike riders "typically act more risk-averse".

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While it also recognised that eBikes generally cost more than an equivalent non-assisted bike, Bikmo believes that the advantages of an eBike, such as an easier and often more-enjoyable commute – and the savings made on insurance – will appeal to especially new cyclists, who may be discovering the health-and-wellbeing effects of going to work on two wheels for the first time.

"Our research shows that offering eBike riders lower premiums doesn't have to be solely a philanthropic decision for insurers," added George. "Whilst the average cost of an eBike is higher than its non-power-assisted equivalent, riders on an eBike appear to be significantly more risk-averse.

"As a company made up of cyclists, and with a strong belief in ethical capitalism, we want to stand out from the crowd and pass these savings on to our members in the form of a lower premium," he said.

While many riders might cover their bikes on their household insurance, Bikmo points out that a number of home policies may not cover eBikes as standard.

Those with multiple bikes – both electric and non-assisted – can take advantage of one insurance policy with Bikmo for the entire household's bikes.