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Home»Business»E-bike/scooter surge highlights gaps in regulation and insurance coverage
Business

E-bike/scooter surge highlights gaps in regulation and insurance coverage

VernoNewsBy VernoNewsJuly 10, 2025No Comments3 Mins Read
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E-bike/scooter surge highlights gaps in regulation and insurance coverage
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GlobalData surveying has discovered that over half of e-scooter house owners haven’t bought/renewed the insurance coverage coverage for the product. In recent times, e-bike/scooter use has grown quickly, nonetheless, licensing legal guidelines, security requirements, and accident reporting haven’t stored tempo; making it tough for insurers to supply complete, well-informed protection, which leaves shoppers cautious to buy/renew the insurance coverage coverage.

GlobalData’s 2024 UK Insurance coverage Client Survey discovered that 54.8% of shoppers who personal an e-scooter didn’t buy/renew the insurance coverage coverage within the final 12 months. This could possibly be attributable to not with the ability to discover a coverage that included all the pieces they wished coated, which highlights the gaps (influenced by the dearth of information) within the insurance coverage insurance policies that don’t cowl all the patron’ needs so, finally, they select to not buy/renew the insurance coverage coverage and face extra damages.

The identical survey performed by GlobalData additionally requested shoppers what they might need to have coated of their e-scooter coverage, which additional reveals how shoppers want to really feel extra insured in sure conditions corresponding to accidents to themselves and different individuals, in addition to injury to their e-scooter and different property/issues.

Furthermore, the lapses in highway security will result in insurance coverage claims as round 90% of the roughly 4,000 main bike owner collisions a yr concerned a motorized vehicle and incessantly led to claims in opposition to drivers, even when cyclists might have been negligent or reckless as defined in a white paper titled ‘Pedalling into the unknown – the hidden human and insurance coverage price of the UK’s eBike growth’. As many cyclists are uninsured and uncovered to this danger, it has grow to be a heightening space of uncovered losses in insurance coverage insurance policies.

The report additionally talked about enhancements being required within the assortment of incident knowledge beneath the STATS19 highway security knowledge studies as, presently, e-bikes/scooters aren’t generally differentiated from commonplace bicycles in accident reporting, neither is helmet utilization recorded. Amassing this knowledge would permit insurers to effectively adapt their insurance policies; guaranteeing shoppers really feel safer and extra insurable. To conclude, with e-bike utilization on the rise, insurers will proceed to face the info hole that restricts efficient danger evaluation and coverage improvement. To shut the hole, they have to put money into knowledge assortment partnerships and begin accumulating higher insights to construct extra complete protection options for this rising market.

“E-bike/scooter surge highlights gaps in regulation and insurance coverage” was initially created and printed by Life Insurance coverage Worldwide, a GlobalData owned model.

 


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