Welcome!

Java IoT Authors: Liz McMillan, Elizabeth White, Pat Romanski, Yeshim Deniz, Frank Lupo

News Feed Item

With e-bike sales booming, Velosurance offers insurance for electric-assisted bicycles and their riders

E-bikes, bicycles with power assist provided by an electric motor activated by pedaling or a handlebar mounted power lever, are rapidly gaining popularity as an alternative to a 100% human pedal power bicycle. Until recently it was almost impossible to fi

FORT LAUDERDALE, Fla., Dec. 10, 2013 /PRNewswire-iReach/ -- E-bikes, bicycles with power assist provided by an electric motor activated by pedaling or a handlebar mounted power lever, are rapidly gaining popularity as an alternative to a 100% human pedal power bicycle. Until recently it was almost impossible to find a proper insurance policy to cover an e-bike for theft or damage and the rider for liability. Velosurance, a Fort Lauderdale, FL based bicycle insurance agency that launched a bicycle-specific insurance policy in 2012 now has extended this policy to cover electric-assisted bicycles.

(Photo: http://photos.prnewswire.com/prnh/20131210/MN31076)

The addition of electric power assist to bicycles will extend the distance riders can travel and encourage more use of the e-bike as a viable alternative to making short around town trips in a car. Because an e-bike with a 750 watt (or less) motor is still considered a bicycle, e-bike excursions will not be restricted into areas that ban motorized vehicles, such as natural areas and cross country trails.


Recognizing the emerging market of electric-assist bicycles, Velosurance partnered with an A-rated U.S. insurance company to offer an e-bike insurance product with one goal in mind – to allow clients to create insurance policies that would protect the bicycles they ride.  


Electric-assist bicycles look very similar to normal bikes: they have pedals and two wheels. E-bikes are great  for commuting around town or scooting off road. What makes them special is that when the rider needs a little help climbing a hill, additional power is available. The electric motor allows the rider to cruise along with less effort and up to 30 miles before recharging. Unlike other electric vehicles that require special charging stations, electric-assist bicycles charge quickly from a normal household outlet.


The e-bike revolution has already taken hold in Europe: bike shops in Western Europe and the UK carry a variety of electric bikes and several U.S. based manufacturers are jumping onboard as well. Most notably, Specialized released the Specialized Turbo, a high-end e-bike fit for the urban cyclist with a 250 watt motor. Other bike manufacturers such as a Felt and Niner are following suit. Trek has 3 e-bikes in their 2014 lineup.

"There are over 15 million bicycles sold each year in the U.S., of which 4 million bicycles are of higher value and sold through specialty bicycle shops. Electric-assist bicycles are readily available at bicycle retail shops and the popularity of electric-assist bicycles is becoming a booming segment of the bicycle industry," said Dave Williams, CEO and co-founder of Velosurance. "A good quality entry-level e-bike costs upwards of $1,000 and an average value of $3,000, with high-end e-bicycles costing as much as $12,000. Until Velosurance, cyclists had very limited options to protect their bicycles with adequate insurance coverage."


Each policy is customized by the client and can include coverage protection on the e-bike for damage caused by theft, crash, collision, fire, attempted theft, vandalism or hitting another object.  In addition, coverage of spare parts, cycle apparel, and rental reimbursement are included at no additional cost.


Optional coverage includes: Liability coverage to cover the rider in case of injuries or property damage caused by the insured cyclist; Medical Payments to cover medical costs of the policyholder associated with a cycling accident; and Vehicle Contact Protection for medical costs associated with accidents caused by an automobile. Additionally, Roadside Assistance is available, providing the cyclist a service vehicle ride of up to 35 miles.


Williams added, "In most cases, homeowner or renter's insurance will not cover e-bikes for theft, damage, or liability because the bike has a motor and auto insurance companies will not offer e-bike insurance because e-bikes under 750 watts are not required to be registered, and e-bike riders do not need to be licensed. This is where Velosurance steps in with a stand-alone e-bike insurance policy that insures e-bikes with power assist up to 750 watts, and covers just about anything accidental that can happen."


To enhance their e-bike policy service, Velosurance partnered with local bicycle shops nationwide to provide repair or replacement services to Velosurance policy holders. According to Williams, "No matter where our client is riding, there will be a Velosurance Trusted Partner bicycle shop nearby".


E-bike policies start at $100 per year and offer a variety of coverage levels and deductible options.


Velosurance Electric Bicycle Insurance provides policies in the following states: Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, Minnesota, Missouri, North Carolina, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.


Electric Bicycle Insurance Quote can be requested at http://velosurance.com or by phone at 888-663-9948.


Velosurance policies are underwritten by Markel American Insurance Company.

Media Contact: Dave Williams, Velosurance, (888) 663-9948, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Velosurance

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant tha...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, will lead you through the exciting evolution of the cloud. He'll look at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
SYS-CON Events announced today that TidalScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TidalScale is the leading provider of Software-Defined Servers that bring flexibility to modern data centers by right-sizing servers on the fly to fit any data set or workload. TidalScale’s award-winning inverse hypervisor technology combines multiple commodity servers (including their ass...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
As hybrid cloud becomes the de-facto standard mode of operation for most enterprises, new challenges arise on how to efficiently and economically share data across environments. In his session at 21st Cloud Expo, Dr. Allon Cohen, VP of Product at Elastifile, will explore new techniques and best practices that help enterprise IT benefit from the advantages of hybrid cloud environments by enabling data availability for both legacy enterprise and cloud-native mission critical applications. By rev...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Join IBM November 1 at 21st Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Cognitive analysis impacts today’s systems with unparalleled ability that were previously available only to manned, back-end operations. Thanks to cloud processing, IBM Watson can bring cognitive services and AI to intelligent, unmanned systems. Imagine a robot vacuum that becomes your personal assistant th...
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
SYS-CON Events announced today that Avere Systems, a leading provider of hybrid cloud enablement solutions, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere Systems was created by file systems experts determined to reinvent storage by changing the way enterprises thought about and bought storage resources. With decades of experience behind the company’s founders, Avere got its ...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...