Electric bikes are soaring in popularity for a whole host of reasons. They provide a comfortable way to exercise, help you get to work without worrying about arriving tired and sweaty, and they’re great for the environment.
But e-bikes would still struggle for popularity if it weren’t for one other factor: their price. Many people are put off the idea based on the presumption that e-bikes are expensive. However, a standard e-bike can cost less than $1,000, and even the best e-bikes are relatively affordable. Furthermore, if you’re using one instead of a car or gas-powered motorbike, you save a ton on gas as charging it will cost only a dollar on your electricity bill for 300 to 400 miles of use.
However, as any hobbyist knows, the basic costs are not the be-all-and-end-all. There are always unexpected extras to pay for that can make the cheapest options look a little less attractive.
With that in mind, we’ll run a few unexpected costs accompanying any e-bike and look at whether this counteracts the money you’ll save on running your motor vehicle.
One of the first things you will want to invest in is at least one extra e-bike charger. While you’ll most frequently charge your e-bike at home, you can find yourself in a sticky situation if it runs low out in the wild. So having an extra charger in your backpack at all times can be helpful, as well as at work or the destination you most commonly ride to.
An extra charger may cost between $20 and $30, which is not a huge expense, especially as you save far more than that on gas each month. If your e-bike has a removable battery, consider getting a spare in case of emergency.
Keeping your e-bike in the best possible shape relies on storing it safely to ensure it doesn’t fall over. A good bike rack is necessary, and you may want an extra rack for where you most commonly take your bike. When you have it away from home, you’ll also want a lock to ensure no one steals your precious e-bike.
These components are not too expensive. On the cheap side, you’ll pay around $45 up to as much as $150. This is a worthwhile investment considering these one-off purchases seldom need replacing or upgrades.
Another vital consideration is investing in protective gear for yourself. Accidents are, unfortunately, not always avoidable, and crashing on the road can incur major injuries. You need at least a good helmet, elbow pads, and reflective gear for night riding.
A good e-bike helmet will cost around $100, and elbow pads and reflective gear aren’t too expensive. At the high-end of necessary components, you’re unlikely to pay more than $300 in one-off costs, which is well worth the price of safety.
Your e-bike is not covered by most homeowners’ and renters’ insurance policies, making it difficult to obtain coverage. Fortunately, some insurance companies do specifically include e-bikes under ‘scheduled personal property’ or for Extra Coverage. While e-bikes will be covered in case of theft regardless, you need Extra Coverage to account for other perils like accidents.
The cost of the added coverage on your insurance policy will depend on which state you’re in and the type of insurance you already have. However, it will not be so much that it weighs down your premiums significantly.
E-bikes are very much cost-effective forms of transport. Purchasing one saves you money on monthly installments on a motor vehicle, gas, insurance, maintenance costs, and more. And, while there are some inevitable costs alongside your e-bike purchase, they shouldn’t exceed anywhere between $100 and $300.
Looking for more helpful electric bike insights? Discover our top tips for buying an e-bike, how to maximize your e-bike’s range, and check out our overview of e-bike FAQs.
Was this helpful?
Yes
No
Bicycles in general aren’t cheap, but add in a motor and battery and that cost can go much, much higher.
Batteries are often regarded as the single most expensive part of an e-bike, ranging from a few hundred dollars for a very low-cost unit to well over $1,000 for some of the nicer ones. This is also a component you really don’t want to go cheap on, as it’s going to dictate how far you ride. Larger batteries cost more, so if you want range on a single charge you’re going to pay for it.
The Battery will also partially dictate the lifespan of your e-bike. Quality lithium ion batteries, the most common type on e-bikes, have a typical lifespan of 2-4 years depending on how they’re used and taken care of.
More expensive batteries are often engineered to give the cells inside their best shot at the longest lifespan — either through a specially designed battery management system or careful attention paid to hardening it against the elements — and cheaper ones may not have been given that special attention.
Motors are also expensive pieces of engineering, with even the most inexpensive costing several hundred dollars. This is another area where cost can vary wildly depending on quality and the type of motor. Hub motors are the most common affordable e-bike drive system and mid-drive motors are usually the most pricey.
Each has its pros and cons, but mid-drives are regarded as the nicer of the two with the highest efficiency and best ride feel, among many other things. I could write an entire series of posts around motor quality, the different types and what that means for the consumer, but that’s a topic for another time.
Add those components together, plus the cost of any applicable electrical engineering, testing, programming and even the cost of a warranty and customer service program — which, for some companies, can be substantial — and you’ve got a sizable increase in cost over a traditional bicycle.