With the increasing popularity of electrical powered conveyances, the Insurance Brokers Association of Ontario (IBAO) is warning consumers using vehicles such as scooters and electronic bicycles (e-bikes) that these vehicles are provided with limited or no liability coverage on a consumer's insurance policy.
In a statement, IBAO CEO Randy Carroll said the association's warning was prompted by an increasing number of advertisements at the dealer level stating that these bikes require no insurance.
"While this statement is in fact true, these vehicles still pose a real danger," Carroll said. "Ontario citizens need to know that they may have no liability coverage if they get into an accident with one of these vehicles and they could find themselves without coverage if they cause property damage or worse, injure another person."
Habitational policies exclude "motorized vehicles except for lawnmowers, other gardening equipment, snow blowers, wheelchairs and motorized golf carts on the golf premises." However, a good number of policies fully exclude e-bikes and other such vehicles.
Editors note: Imagine the grief and financial consequences of hitting anyone, especially a child, with your "E" – bike, scooter, skateboard or segway? At the time of writing, there does not appear to be a standard method of insuring what could be a very considerable risk. This applies not only to the liability associated with causing injury or property damage to others, but also the risk of having the unit stolen or damaged. If in doubt, it is always best to check with your home insurer to set your mind at ease.
The Insurance Advisors @ Guthrie Insurance Brokers Ltd
Toronto – (416) 487-5200 – 1-888-310-SAVE (7283)
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