Do You Need E-bike Insurance for Your E-bike in India?

The pace of electric vehicle adoption in India is growing fast with the launch of e-bikes and scooters. But there are several instances where these e-bikes caught fire, and owners are raising the concern regarding the safety and performance of these bikes. With this, it might make you think if e-bike insurance is required for electric bikes in India? Read on to find the answer.

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E-bike Market in India

The Indian automobile sector is witnessing a rise in demand for e-bikes as they are eco-friendly solutions for fulfilling all daily needs. This latest technology and stylish models have made buyers accept it as the future of the transportation industry.

Do You Need E-bike Insurance for Your Electric Two-wheeler in India?

According to the Motor Vehicle Act, 1988, it is mandated for all bike owners to have at least third-party bike insurance to run their vehicle on the road. In the case of an electric two-wheeler, the government is preparing to declare specific regulations regarding e-bike insurance as they are in the adoption phase.

Hence, bike insurance policy rules are not applicable for e-bikes as these vehicles are not categorized under motor vehicles. Currently, electric two-wheeler owners don't need to obtain the mandatory third-party bike insurance. However, as a responsible driver, you should have the best bike insurance cover.

An electric bike is a precious possession that needs to be protected against various unforeseen circumstances like fire or theft. Therefore, the best option is to get comprehensive bike insurance as it will financially protect you and your bike in case of a road accident, fire, theft, natural calamities, and manmade disasters.

Benefits of Having E-bike Insurance for Your Electric Two-wheeler

Here are a few benefits associated with getting e-bike insurance for your e-bike or scooter-

  1. E-bikes are Expensive

    E-bikes consist of costly components like an electric motor, battery, and controller. Even after putting so much effort by the government to use electric vehicles, these bikes have captured a small niche market that does not give enough benefit to the manufacturers. Therefore, it makes them expensive and you must take extra care of your e-bike by having the right e-bike insurance policy, and you can ride it without any worries.

  2. E-bike Insurance is Affordable

    Most electric two-wheelers have a maximum speed limit of 60-70 km/hr, making them perfect for city commutes. Therefore, it has a lower risk associated because of the lower speed limit. Also, they are equipped with less cubic capacity generating less power than any other motor vehicle. It is an affordable deal to protect your e-bike from several unprotected risks with an e-bike insurance policy.

  3. High Degree of Risk Associated

    Usually, e-bikes are the most popular mode of commute for the shorter distances. This exposes them to major risks of road mishaps. In an unfortunate event, if your electric bike gets damaged, your bike insurance will be a lifesaver. If you do not own this, you will be responsible for all the costs associated with the repair or replacement of the e-bike parts.

  4. Customizations is Available

    Another merit of opting for e-bike insurance is the process of insuring an e-bike is similar to any other motor vehicle. However, some insurance provider refuses to offer coverage for electric bikes as they do not need to be registered. But you can visit the official website of Policybazaar Insurance Brokers Private Limited, where you can explore multiple e-bike insurance plans and choose a policy that provides you maximum coverage at an affordable price. Moreover, you can also tailor an insurance plan as per your requirements.

Documents Required for Insuring an E-bike

Getting the best bike insurance plan for your electric two-wheeler follows the same process as insuring any regular motor vehicle. Therefore, documents needed for insuring e-bikes are also the same. All you need to do is submit address proof, identity proof, and two passport-sized photographs.

Final Thoughts

In India, emissions caused due to motor vehicles are one of the biggest problems, and the government is taking every single step to increase the adoption of e-bikes to reduce this. If you are also planning to get an e-bike and want to save our environment, then you should also secure it with the right e-bike insurance plan and enjoy the stress-free rides.

Written By: PolicyBazaar - Updated: 15 June 2022

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