In the era of heightened environmental concerns, adopting electric bikes is a commendable step towards sustainable transportation. However, as riders navigate the unique challenges of electric bikes, comprehensive electric vehicle insurance becomes imperative for safeguarding the environment and personal well-being.
Types Of Electric Bike Insurance Policies
Electric bike insurance comes in two main categories, each serving distinct purposes:
Third-Party Liability Insurance:
Riders must acquire third-party insurance in India by the Motor Vehicle Act of 1988. This policy shields the insurer from financial responsibilities arising from harm or loss to a third party, their property, or vehicle. Unfortunately, this type of insurance does not cover damages to the policyholder’s car.
Comprehensive Insurance:
Offering a more extensive coverage spectrum, comprehensive insurance for electric bikes includes both third-party liability and own damage coverage. It safeguards the insured two-wheeler against artificial and natural calamities, providing a broad safety net.
Renewal And Long-Term Options
Typically, electric bike insurance in India requires annual renewal. However, long-term electric vehicle insurance is available for those seeking convenience. Opting for a long-term plan eliminates the annual renewal hassle and can lead to cost savings. The ease of acquiring two-wheeler insurance online further streamlines the process, making it efficient and cost-effective. Claims are subject to terms and conditions set forth under the motor insurance policy. *
Advantages Of Electric Bike Insurance
Investing in electric vehicle insurance offers numerous advantages:
- Economic Investment: Contrary to misconceptions, insurance is an economic investment, offering significant financial protection at a minimal premium. Online purchase options often provide a more substantial sum at a lower premium, maximising savings for the policyholder. ##
- Maintenance for E-Bikes: Electric bikes demand meticulous maintenance with their intricate mechanisms. Comprehensive insurance becomes crucial to safeguard the investment in these technologically advanced vehicles.
- Mitigating Increased Risk: Higher-end e-bike models incorporate complex computer-driven technologies for speed and efficiency. Comprehensive insurance becomes necessary to reduce the financial impact of potential accidents, covering the high costs associated with repairing or replacing sophisticated components.
Electric Bike Insurance
Insurance providers recognise the unique insurance needs of electric scooters. Despite exempting electric bikes from registration requirements, insurance providers extend total protection through comprehensive bike insurance. The coverage includes protection for owner-driver personal accidents, loss or damage to the insured vehicle, and third-party liabilities. Pillion riders are also covered, ensuring a comprehensive safety net. Claims are subject to terms and conditions set forth under the motor insurance policy.
While every Indian bike owner is mandated to have current third-party liability insurance under the Motor Vehicle Act of 1988, electric bikes lack specific regulations in their early stages. Currently exempt from motor vehicle definitions when their power output is below 250W and speed is capped at 25 km/h, e-bikes operate in a regulatory grey area. Despite this, the rise in traffic accidents involving e-bikes calls for including these vehicles within legal frameworks to enhance traffic discipline.
As electric bikes surge in popularity, incidents on the road are on the rise, making it crucial to secure the appropriate insurance. With the higher maintenance costs linked to e-bikes, comprehensive insurance becomes a vital shield for these prized possessions. Opting for online two-wheeler insurance streamlines the process and aligns your commitment to sustainability with a strong safety net for your electric bike.
*Standard T&C Apply
##All savings are provided by the insurer as per the IRDAI-approved insurance plan.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
