E-bike insurance premiums skyrocketing as thefts continue to rise

Insurers have tightened the conditions for insuring an e-bike because the risk of theft is increasing. ANWB and Univé confirmed this after reporting from the AD. Bicycles are becoming more luxurious, more expensive and stolen more often, which threatens to make premiums unaffordable, said a spokesperson for ANWB Insurance.

That is why the ANWB, the largest bicycle insurer in the Netherlands, has increased the premium, required a second lock with a certain quality mark, and introduced a deductible for e-bike owners. If an electric bicycle is stolen, the owner must pay 5 percent of the purchase price as a deductible. Bicycles more expensive than 4,500 euros must also have a special track-and-trace system. The measures have been in effect since March 1.

Since September, Univé has been conducting a trial with a voluntary deductible of 100, 250, or 500 euros. The annual number of stolen e-bikes for which Univé pays out compensation has almost tripled compared to four years ago, according to a spokesperson. In Flevoland and Groningen, that number is four times higher, and in Friesland five times higher. The caveat is that the cooperative has since also added more e-bikes to its portfolio, the spokesperson emphasizes.

The deductible is not yet the standard at Univé, but the insurer does not rule out that this will be the case for e-bike owners in the future. ANWB also said that it had no other option than to introduce a deductible, as it wants to keep its bicycle insurance affordable for their customers, spokesperson Klaas Kregel told AD.

Customers will have to get used to the measures, said the spokesperson for ANWB Insurance. To his knowledge, it is the first time an insurer has introduced these additional requirements for e-bike owners. But there is understanding for this because there is consensus that something must be done about the high number of bicycle thefts.

According to figures from the ANWB customer base, the chance that an e-bike will be stolen has increased by 41 percent over the past three years.

In 2023 alone, around 90,000 e-bikes were stolen in the Netherlands. As e-bikes are becoming increasingly expensive and cost up to 3000 euros, insurance companies such as ANWB follow and increase their premiums by 5 percent, according to AD.