What kind of insurance do I need for my electric bicycle?

The need and obligation to insure an electric bicycle depends on the machine’s power and maximum speed. You can check below what kind of insurance you need for a bicycle equipped with an electric motor.

Electric bicycle

You can insure an electric bicycle with home insurance if the maximum power of the engine is 250 W and the maximum speed of the bicycle is 25 km/h when pedalling. In this case, motor liability insurance is not required. Pohjola Home Insurance covers damage to an electric bicycle up to EUR 5,000. The insurance cover is valid throughout the Nordic countries. If the value of your insured electric bicycle is over EUR 5,000, you can insure it with Valuables Insurance.

If you already have Pohjola Home insurance, you can check the maximum amount of compensation of your Valuables insurance at op.fi. If necessary, you can also easily edit the maximum amount of compensation to better suit your needs.

If the power of your electric bicycle’s motor is over 250 W or its speed when pedalling exceeds 25 km/h, you must insure it with motor liability insurance. Motor liability insurance is also required for unregistered electric bicycles.

Motorised bicycle

A bicycle belonging to the L1e-A class, i.e., a motorised bicycle, must be insured with motor liability insurance, if its engine power does not exceed 1 kW and its speed without pedalling is 25 km/h. To get the best cover, extend the cover with comprehensive motor vehicle insurance.

An electric bicycle, scooter or moped belonging to the L1e-B class with an engine power over 1 kW and speed exceeding 25 km/h must be registered as a moped. We recommend that you check with Traficom that the machine is suitable for road traffic in Finland.

Insuring an electric bicycle in a nutshell

You can check the table below to see what type of insurance you need for your bicycle.

Type of transportation device	Insurance
Electric bicycle: Engine power 250 W Maximum speed of 25 km/h Engine turns off when speed reaches 25 km/h Motor engine works only when pedalling Registration not required	Home Contents Insurance of Home Insurance or Valuables insurance (for electric bicycles with a value over EUR 5,000)
Electric bicycle (more efficient): Engine power of over 250 W or speed exceeding 25 km/h when pedalling Registration not required	Statutory motor liability insurance  Broader security through comprehensive motor vehicle insurance
Motorised bicycle, motor vehicle category L1e-A Engine power up to 1 kW Speed up to 25 km/h with hand throttle, i.e., without pedalling No pedalling required to move Registration not required	Statutory motor liability insurance  Broader security through comprehensive motor vehicle insurance
Motorised bicycle, motor vehicle category L1e-B Engine power over 1 kW Speed up to 25 km/h Must be registered as a moped	Check the road traffic suitability at Traficom. If the vehicle is suitable for road traffic in Finland, it must be insured with motor liability insurance for a moped as well as comprehensive motor vehicle insurance if necessary.

Insurance for other electric transportation devices

In addition to bikes, we offer insurance for other electric devices. In most cases, transportation devices and other light electric vehicles can be insured with home insurance.

Learn more about insurance for electric vehicles

Additional information on the insurance of electric bicycles

If the value of the transportation device or electric bicycle is over EUR 5,000, we recommend that you take out Valuables insurance. In addition to home insurance, Valuables insurance can be used to insure electric bicycles or transportation devices that meet the same criteria. Therefore, it does not replace Motor Liability Insurance. Valuables insurance is recommended if the maximum compensation of EUR 5,000 for property outside the home provided by the home insurance is insufficient to cover the value of your transportation device. Please note that the deductible benefit for owner-customers does not apply to Valuables insurance.

You can check the scope of your existing Pohjola Home insurance at the op.fi service. If you have not yet purchased home insurance from us, you can do it easily online.

Home insurance always includes general liability insurance as well. General liability insurance compensates losses that you cause to external parties when moving with electric transportation devices insured by Home insurance. General liability insurance also covers damage you cause to other parties when moving with a rented electric device. For example, the insurance covers damage caused when you hit a parked vehicle with a rented electric scooter.

Remember to also cover yourself against damage or loss with the accident insurance included in Pohjola Health Insurance. Accident insurance ensures swift aid and treatment if you injure yourself when moving with your own or a rented electric device.

If you already have Pohjola Home insurance, you can check the maximum amount of compensation of your Home insurance at op.fi.

In addition to insurance, the bicycle should be secured by other methods. Remember to protect your bicycle against theft by using a lock. In addition, the bicycle’s serial number should be written down, so it can be reported to the police in case of theft.

What does bicycle insurance cover?

Home insurance covers the bicycle in the case of theft, vandalism and damage. OP cooperative bank's owner-customers receive a deductible benefit of up to EUR 250 in the case of theft and vandalism. Deductible benefits mean that, in the best case, you pay no deductibles when your bicycle is stolen or vandalised.

You can seek compensation under your home insurance if:

• Your bicycle is stolen or vandalised
• You fall off your bicycle and it breaks

Home insurance does not, however, cover:

• The theft of items left in the bicycle’s panniers.

The age reduction for a bicycle is 10% per year from the second year of use.