Insurance for e-bike in Finland

In this article, we will cover a topic of getting a motor liability insurance for your high power e-bike. Also, you will get answers to these questions: in what cases do I need insurance? What does motor liability insurance cover? Where can I get one? What information should I prepare?

In what cases do I need insurance?

We previously had an article on electric bike law in Finland. There we mentioned in what cases you are obliged to have insurance for your e-bike. In few words: if you want more powerful motor than 250W (up to 1kW) and want to use a throttle to control power output, you will need to get a motor liability insurance. Please, keep in mind that maximum speed is still limited to 25 km/h.

Who might be interested in getting more powerful e-bike? Well, for some people 250W is just not enough. In case you are a heavy person and regularly drive on a hilly terrain you might feel that it would be nice to have extra power. Also, some people prefer using throttle rather than driving a pedelec (e-bike where motor works when pedaling only).

What does motor liability insurance cover?

Motor liability insurance for ebike in Finland

©The Finnish Motor Insurers' Centre (LVK)

If you get a basic insurance, in a case of an accident personal injuries and property damage will be covered for the innocent party, meanwhile, for the party causing the damage, only personal injuries will be covered. You can also get an additional voluntary cover to insure property damage for the party causing the damage. The additional voluntary cover includes a property damage caused by an unknown party (vandalism, fire, etc) for the innocent party.

If you neglect taking statutory motor liability insurance you will be charged a fee equal to the whole period during which the vehicle was uninsured, as well as a penalty fee. Please, remember that 250W pedelecs with a maximum speed of 25 km/h do not need any insurance.

In case you want to know more information, make sure to visit The Finnish Motor Insurers' Centre (LVK).

Where can I get one?

Here is a list of companies that can provide you with a motor liability insurance in Finland:

  • A-Insurance Ltd: a-vakuutus.fi
  • Folksam Non-Life Insurance Company Ltd (formerly Aktia Vahinkovakuutus Oy): folksam.fi
  • If P&C Insurance Company Ltd: if.fi
  • Fennia Mutual Insurance Company: fennia.fi
  • LocalTapiola General Mutual Insurance Company: lahitapiola.fi
  • OP Insurance Ltd: op.fi
  • Pohjantähti Mutual Insurance Company: pohjantahti.fi
  • Suomen Vahinkovakuutus Oy: popvakuutus.fi
  • Turva Mutual Insurance Company: turva.fi
  • State Treasury: valtiokonttori.fi
  • Aaland Mutual Insurance Company: omsen.ax

You can get a motor liability insurance in any of these companies. For our customers, we have already contacted all these insurance companies directly to find out best prices as well as other conditions. In case you buy a high power e-bike kit from us, we will assist you with this issue, so you don’t overpay or waste time looking for the best deal or visiting offices.

Prices vary from place to place; you can find insurance for e-bike costing EUR 50 in one company and EUR 250 in another. In some companies your credit history, a number of insurances you had from this particular company, your age, and even address might affect the final cost. In some companies, you can get insurance only by visiting their office. Meanwhile, others can do everything online or via phone call.

Usually, to get insurance, you need to provide the insurance company with the following information:

  • Your personal information (e.g. social security number, address, etc.)
  • Technical information (e.g. manufacturing year and serial number of both bicycle and e-bike kit, motor power, etc.)

Hope this article answered all your question about insuring your e-bike. In case you have any questions feel free to contact us via email info@gobikes.fi.