Pedal Power Insurance FAQs
How can I purchase insurance?
Insurance can be purchased directly online or through a local broker listed in the broker directory on our website.
Where am I covered?
Coverage applies anywhere you can legally ride in Canada or the continental United States. You can also purchase additional coverage for international travel (outside of Canada or the continental United States).
What units can be insured?
Pedal Power provides coverage for:
- Pedal Bikes
- Electric Bikes
- Scooter Style Electric Bikes
- Motorcycle Style Electric Bikes
- Electric skateboards/Segways/Electric Kick Scooters
- Snowdogs
- Skizees
- Golf Carts
- Mobility Scooters
- Electric Wheelchairs
- Recumbent Bikes
What is Third-Party Liability?
Third Party Liability is coverage that protects you if you're legally responsible for causing injury to someone else or damage to their property.It helps pay for expenses such as medical bills, repair costs,legal fees and defense costs if someone makes a claim against you.
How long is a policy term?
Policy terms are 12 months from the inception date.
What if I am injured while operating my unit?
Accident Benefits coverage is available to cover injuries directly arising from your use of your unit during the policy period. Pedal Power offers both Basic and Enhanced coverage options.
What is Accident Benefits coverage?
This covers losses incurred while you are getting on, alighting from, operating or riding, including whilst riding as a passenger, on an insured unit during the policy term.
On multi-unit policies, named insureds must purchase Accident Benefits coverage once. The coverage follows the unit. If multiple operators use a unit, each unit should carry its own Accident Benefits coverage.
Coverage options include:
- Basic Coverage: Covers permanent, total or partial disablement and death, with a limit of $25,000.
- Enhanced Coverage: Includes Basic Coverage plus weekly indemnity, accidental death, ambulance expenses, medical expense reimbursement and more, with a limit of $50,000.
Can I get Accident Benefits without purchasing Liability Coverage?
No, Liability Coverage is required to be eligible for Accident Benefits.
Is physical damage or theft coverage offered?
Yes,All Perils coverage is offered which includes fire, theft, vandalism, collision with an object, upset and more.
How do I decide what limit of insurance to pick for my unit(s)?
If your unit was purchased new within the last three years and you are the original owner, it qualifies for Replacement Cost coverage. This means no depreciation will apply, the limit will be the original purchase price,plus tax. For older units, coverage is based on the unit's depreciated market value, determined by comparing similar units of the same kind and quality.
Is there a deductible on the policy?
Yes:
- If you have had a physical damage claim in the past: 5% of the insured unit's value (minimum $250/maximum $1,000)
- If you have a theft claim on Electric Bikes, Electric Scooters, or Electric Motorcycles in the past: 10% of the insured value or $1,000 minimum, whichever is greater.
Can I insure my E-Bike, E-Scooter and E-motorcycle under Pedal Power?
Yes, provided your unit complies with your province's regulations. If the unit does not meet provincial regulations at the time of a claim, coverage may be denied.
Can I cover multiple units on one policy?
Yes,if all units are owned by you.
Can I add multiple operators to my policy?
Yes, you can add additional operators. If any listed operator has a previous loss history or claims, a surcharge will apply.
Sometimes I lend my unit to someone else. Am I still covered?
Yes,if you lend your unit(s), Third Party Liability, Physical Damage or Theft coverages still apply. However, Accident Benefits coverage does not extend to temporary operators, it only covers the named insureds on the policy.
Am I covered for Race Competitions or Practices?
Yes, if you purchase the Competitive Events Extension. This enhances your existing coverage while participating in races, competitions, and practice sessions. You can add this coverage at the start of your policy, or midterm.However, the additional premium is fully retained and non-refundable, even if the coverage is removed before the end of the policy term.
Do you offer discounts?
Yes,discounts are available for members of recognized provincial associations or their clubs on Pedal and Electric Bikes only.
Recognized Associations include:
- International Mountain Biking Association of Canada
- Canadian Cycling Association
- Triathlon Canada
- Hub Cycling
- Meraloma Bike Club
Do previous claims impact my policy or quote?
Yes.
- One prior claim on a similar type of unit: 10% surcharge applied to the annual premium.
- More than one claim in the last 3 years: you will not qualify for coverage under Pedal Power Insurance.
What if I cancel my policy before the renewal date, will I get a refund?
Pedal Power policies are fully earned after 6 months. You may receive a prorated refund if the policy is cancelled within the first 8 months (e.g., 12.5% if cancelled prior to 8 months of being insured). After 8 months, no refund is available.
How do I make a claim?
If you purchased your policy through a broker, please contact them to initiate the claims process.
If you have purchased your policy directly through Oasis Insurance, complete the claims form under the Forms tab at pedalpowerinsurance.ca. For assistance, contact our office by email at pedalpower@oasisins.ca or call 1-866-979-2747.