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Insurance Gaps: Protecting Your Electric Rideable Devices and Liability
Electric rideable devices like Onewheels, electric bikes, scooters, and skateboards have gained popularity, but riders may not realize they often lack adequate insurance coverage for these devices. Real-world examples illustrate the liability risks and coverage gaps.
Case Example 1: Theft and Coverage Gaps
Imagine your electric rideable devices are stolen before a family trip. You file a claim with your homeowners insurance but are denied. Traditional insurance typically offers minimal coverage, if any, for motorized devices, resulting in significant financial losses.
Case Example 2: Runaway Rideables
During a group Onewheel ride, your board unexpectedly accelerates, damages a car, and causes chaos. Electric rideables carry the potential for high-speed crashes, damaging property, and making you personally liable for costly damages.
Case Example 3: Injury Liability
Commuting on your electric bike, you collide with a dog and its owner. Liability issues arise as they require extensive medical care, and you could be held responsible for medical bills, lost wages, and pain and suffering.
Existing homeowners, renters, or auto insurance policies often exclude coverage for electric rideables due to their motorization. A gaping hole in coverage leaves riders vulnerable.
Options to Address Coverage Gaps:
- Contact your existing insurance provider and inquire about electric rideable device coverage. Ask for written confirmation, but be cautious as many companies will likely exclude motorized devices.
- Seek out specialized e-bike insurance policies, such as those offered by Markel, which covers electric bikes with power assist up to 750 watts and speeds up to 28 mph.
Unfortunately, insurance options for devices like Onewheels, electric skateboards, scooters, and unicycles are limited, and rules vary by state and insurer.
While a complete solution is yet to be found, understanding the insurance gaps for electric rideables is essential. Share this information with fellow riders and work together to explore potential solutions and secure your devices and assets effectively.
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