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Electric Bike

With the industrial revolution, technological advancements have taken the human species up to new horizons. Yet, we cannot deny the fact that these come at a cost. Not every cost is calculated only in monetary terms.

As we all are aware of the increasing global warming and the pollution level that is increasing day by day. Natural resources are gradually depleting. So, renewable energy is one alternative that should be looked upon to fuel technological advancements. Adhering to the same, the automobile industry in India is looking at electricity to charge both the four and two-wheelers. 

The future of the two-wheeler industry is the electric bike. Hence, electric bike insurance in India is indeed a progressive step in the long run. With all of these in place, the e-bikes introduction has also impacted the Indian insurance industry. To know more about insurance for e-bikes in India, read ahead!

 

BUY ELECTRIC BIKE INSURANCE ONLINE

Anyone who has or intends to buy an electric bike should also consider buying the electric two wheeler insurance policy. This is important not just for your financial safety but also because the repair or replacement costs of electric bikes are on the higher side.

In India, road safety is uncertain. Insurance for e-bikes is a responsibility for your safety and responsibility towards others. Now you can easily avail of insurance coverage online. Here are the steps toward buying electric bike insurance online: .

Understand the requirement

As per the requirement, research for e-bike insurance policy options and plans is accessible. 

Choose from the cover

When buying two wheeler insurance policy you need to choose from the following

Comprehensive Cover
Third-party Cover
Own Damage Standalone Cover (If Active TP is available)
Bundled Policy (1 Year Own Damage + 3 Year TP for New Vehicle)

Comprehensive cover

The bike insurance policy covers the overall settlement inclusive of the third party, the insured, and riders, if any, and covered damage subject to the terms and conditions.

Third-party cover

Third-party insurance is a legal mandate and covers the liability that arises from the third party. Once this selection is done, set the Insured Declared Value of the electric bike that will help you get a step closer to the e-bike insurance cost/ premium.

Choose the add-ons

Remember, the add-ons in e-bike insurance cost come with paying any extra premium and enhancing the security. Once you select the suitable add-on for the electric bike you will have the final electric motorcycle insurance premium quote.

* In selected Cities 

Terms and conditions apply

WHY SHOULD YOU BUY AN ELECTRIC BIKE INSURANCE POLICY?


In India, driving a two-wheeler without insurance is considered going against the laws and is a punishable offence. Likewise, if you are an electric vehicle owner, having insurance for e-bikes is important. The electric two-wheeler needs to be protected against any loss or damage. We all know, that adversity can occur at any point in time.

So, under any misfortunate circumstance, if the e-bike undergoes any damage, you would end up paying the liability and other cost arising from vehicles involve a considerable amount from your pocket. You can choose a cover as per the need and specification.

Financial Protection

Financial protection

We understand, that an accident or mishap easily creates havoc not only on the lives of people but vehicles too. Securing your electric two-wheeler with the right bike insurance cover will not deplete your savings. In case the e-bike meets with an accident, the insurance policy will offer a suitable cover for the incurred expenses.

Abiding by the Laws

Abiding by the laws

As per the Motor Vehicles Act, bike owners need to have vehicle insurance in place. So as a responsible citizen ensures to avail yourself of the e-bike insurance online before plying on the Indian roads rather than paying hefty fines.

Peace of Mind

Peace of mind

Having a suitable insurance cover not only ensures financial protection against any liability. But the bigger picture also lets you have peace of mind. With bike insurance, even in case a mishap happens, you need not worry about the financial ramifications

 

What is an Electric Bike/ Two-wheeler?

Before we jump into understanding e-bike insurance, let us begin with knowing the meaning of e-bike. Any two-wheeler that runs on electricity is referred to as the electric bike/two-wheeler or e-bike. 

When you think of a regular two-wheeler or a motorbike what do you need to run it? Petrol, right? Similarly, when it comes to electric bikes or electric two-wheelers they need electricity. The e-vehicles are charged just like you charge any electronic gadget or device. 

Rather than fuel stations, there are charging stations for electric bikes in India. In India, electric bikes are fairly a new concept that is gradually picking up its pace. Undoubtedly electric bikes in India will be the next viable option in the coming years.  

On-the-go claim settlement through Health CDC.

Benefits and Features of E-bike Insurance

When you purchase an electric bike you are contributing to protecting the environment. Electric bikes involve complex mechanisms because of their make and model. Therefore, bike insurance is a must that should be on your list if you are or plan to be an e-bike owner. Here is a rundown of the key benefits and features of e-bike insurance:

Protection against the damages

We all know, that accidents are daunting not just mentally, physically, or emotionally but financially as well. In case the electric bike gets damaged in an accident, Read more

Protection against the damages :

We all know, that accidents are daunting not just mentally, physically, or emotionally but financially as well. In case the electric bike gets damaged in an accident, the repair cost could be heavy on the pocket unless you have insurance. There are times even when it was not your fault but could be at the receiving end. Hence, having electric two wheeler insurance is pivotal.

Minimal paperwork

If you are an electric bike owner, you can easily look for e-bike insurance online. Buying electric bike insurance online is not at all tedious but is easy, quick, and requires negligible paperwork Read more

Minimal paperwork:

If you are an electric bike owner, you can easily look for e-bike insurance online. Buying electric bike insurance online is not at all tedious but is easy, quick, and requires negligible paperwork. When buying online the e-bike insurance cost is generally more cost-effective compared to buying the same offline. However, this may vary from insurer to insurer.

Network garages

In case the electric two-wheeler incurs any damage you can have the vehicle repaired at any of the network garages. Read more

Network garages :

In case the electric two-wheeler incurs any damage you can have the vehicle repaired at any of the network garages. If required, you may also ask for the evaluation report of the electric bike's condition after the unfortunate incident.

Roadside 24x7 assistance

We are here to assist you with our specialized electric vehicle services and ensure peace of mind. our team is just a call away to assist you anytime and anywhere in india Read more

Roadside 24x7 assistance for electric vehicle : 

We are here to assist you with our specialized electric vehicle services and ensure peace of mind. Our team is just a call away to assist you anytime and anywhere in India. Regardless of whether you must get a tire changed, need an expert look into the electric vehicle’s motor/battery, etc. You can reach out to us at any time and avail yourself of the spot assistance for diverse situations

Features

1. Dedicated EV helpline

2. Accommodation Benefit

3. Pick Up & Drop

  -Taxi Benefit for Immediate Mobility

  -Towing- out of Energy, Breakdown and accidental

4. Roadside repair:

   - Flat Tyre, spare Tyre

5. Minor repair

6. Urgent message relay

7. On-site charging (In selected cities)

8. Legal assistance

9. Medical assistance

*Exclusively offered in 05 cities: Bangalore, Delhi, Hyderabad, Mumbai and Pune

Claim settlement

We provide support and assistance while ensuring a speedy claim process. Read more

We provide support and assistance while ensuring a speedy claim process. The policyholder need not have to wait for days to get the approval on the e-bike insurance claim. Ensure to have the policy documents in place

WHAT IS COVERED AND NOT COVERED IN AN ELECTRIC BIKE INSURANCE?

  • Inclusions
  • Exclusions

Coverage Against the Multiple Perils

The policy offers protection against both natural and man-made calamities subject to the terms and..

Read more

Coverage Against the Multiple Perils

The policy offers protection against both natural and man-made calamities subject to the terms and conditions. In case of a theft or an accident, the policyholder can look forward to a cashless claim offered under electric motorcycle insurance by providing substantial evidence. 

 * Terms & conditions applicable, refer policy wordings for more details

Personal Accident Cover:

The personal accident cover is extremely helpful if the policyholder succumbs to death due to an accident. It is also beneficial..

Read more

Personal Accident Cover: 

The personal accident cover is extremely helpful if the policyholder succumbs to death due to an accident. It is also beneficial in case permanent damage is incurred. The electric vehicle insurance nominee is likely to receive the sum insured. The amount can be used to meet everyday expenses.

Third-party Liability

A third party insurance is imperative for all the owners of two-wheeled vehicles in India...

Read more

Third-party Liability

A third party insurance is imperative for all the owners of two-wheeled vehicles in India. This insurance covers damage incurred to a third party, the insured vehicle and the insured is secured from any legal obligations towards a third party. 

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Aging of the Electric Bike

If the e-bike incurs loss or damage due to the normal wear and tear of the vehicle, no cover for the same will be provided

Mechanical Breakdown

If e-bike is taken to any mechanical shop.

Stunt Performance

If any damage is incurred to the insured vehicle while performing any stunt the insurance doesn’t offer any cover. 

Under Alcohol Influence

 If the electric bike incurs damage and it is found that the driver was under the influence of alcohol or any other substance, no cover shall be provided.

Illegal Driving

In case of any losses and it is found that the driver was without a valid driving license no compensation shall be provided. Driving any vehicle without a license is against the law.

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ADD-ONS IN ELECTRIC BIKE INSURANCE

While you have the insurance there are chances that you may like to enhance the coverage.

Fret not! You can do so by opting for our add-ons offered.

The add-ons are also commonly referred to as riders that enhance the overall electric vehicle insurance coverage. To avail of the benefits of add-ons, an extra premium needs to be paid.

Let us have a look over the add-ons in the electric bike insurance policy that will help you to make the most of it:

 

  • Depreciation cover

    Depreciation cover:

    Its also called as Zero Depreciation cover or Nil Dep cover or Bumper to Bumper cover

    With age and usage, the EV depreciate. Then the depreciation is deducted when a claim is generated, and the insured person gets a lesser amount of the claim settlement and has to go through the pocket expenses as well.

    A zero depreciation cover under the EV policy has proven to be useful when it comes to a claim settlement. Under this additional cover, the depreciation is not calculated, and the full amount due for the claim is compensated. The EV policy pays for all the expenses incurred without suffering any loss from depreciation.

  • Engine Protector

    Motor protector(It is covered under Engine Protect add on):

    Motor is one of the most crucial parts of an electric vehicle. Being one of the most expensive parts for servicing, you end up spending more to recover your vehicle’s motor from a malfunction or an accident. That’s why the Motor protection is the most ideal solution to feature in your insurance policy. This helps you save the money you would spend on getting your bike’s Motor fixed

  • Consumables Expense

    Consumables expense:

    In case of damage to the two-wheeler, this add-on electric bike insurance offers a cover including the consumables costs will provide for fluids, washers, clips, etc. 

 

 

Importance of Electric Two-wheeler

Believe it or not, e-bikes are indeed the massive adoption of green transportation of the decade. The electronic two-wheelers use rechargeable batteries. E-bikes are cost and energy effective with zero pollution.

If you are planning to buy an electric bike do not forget to avail of suitable insurance cover. Electric bikes are convenient so these days enhanced models of e-bikes are also entering the market gliding the traffic on and off the Indian roads.

The electronic two-wheelers have given the regular two-wheeler an eco-friendly makeover that fulfills the needs for sustainable fuel technology. Not just that the e-bikes are also cost-effective in terms of maintenance.

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PARAMETERS THAT AFFECT EV BIKE INSURANCE PREMIUM

Now, let us briefly understand the following factors that affect the EV bike insurance premium in India:

  • ✓   Type of two wheeler

  • ✓   Insured Declared Value 

  • ✓   Add-on covers 

  • ✓   No claim bonus 

  • ✓   Vehicle age

  • ✓   Vehicle capacity e.g. Kilowatt

  • ✓   Vehicle sum insured

Note: Other than above many more parameters can also affect the EV insurance premium

 

What is an Electric Bike Insurance/ Insurance for Electric Two-wheeler?

Electric bikes are pollution-free bikes that run on a battery and can be charged using electricity.

Electric bike insurance is the type of motor insurance that protects the two-wheelers running on electricity from any potential loss or damage in case of an unfortunate event. Undoubtedly, electric two-wheelers are not just environmentally friendly but also a good noise-free option for any regular bike.

Electric bikes might be a new concept, but we cannot deny the safety of the two-wheeler is always important. Ensure to have ebike insurance as you have for a regular fuel-driven two-wheeler. 

SOME OTHER EXISTING SERVICES ARE ALSO AVAILABLE HEREWITH

Time to get a motor insurance: Less than 3 minutes
Tailored add-ons: Enhance protection with list of add ons
No claim bonus transfer: Up to 50%
Claims settlement ratio: 98%
Cashless services: Across 6,500+ network garages
Claims process: Digital - within 20 minutes*
On-The-Spot claim settlement: With 'Caringly Yours' app

Secure your smiles, drive electric and insure the future of transportation today

 

THINGS TO CONSIDER WHEN PURCHASING INSURANCE FOR ELECTRIC TWO-WHEELER

When it comes to buying anything, we often consider the advantage and cost as both of these are important. The same applies to the process of buying an electric bike insurance policy in India.

Buying e-bike insurance online is easy, hassle-free, and can be done from the comfort of your home, office, etc. You just need to consider some of the listed below factors when purchasing electric two wheeler insurance: 

 

  •  ✓ Wholistic coverage

     

  •  ✓  Breakdown services

     

  •  ✓  Third party liability from person/property

     

  •  ✓ To cover legal mandate

     

  •  ✓ Vehicle damage protection

     

  •  ✓  Passenger legal and personal accident covers

     

  •  ✓  Cashless claim process

     

  •  ✓  Network garages access

     

  •  ✓  NCB continue benefit

     

 

Electric Two-wheeler Insurance Premium Calculator

If you are worried about the electric bike insurance premium quote, leave your worries to us. The electric bike insurance premium calculator is easy to understand and simple to use.

With the electric two wheeler insurance premium calculator, you just need a laptop, a good internet connection, and an electric vehicle registration number. The electric vehicle calculator works on the premium within seconds. Yes, it’s that easy. 

The EV bike insurance premium depends upon various factors like motor capacity, KW, make, model and age, etc. The table below shows electric bike insurance long-term premium:

Motor Kilowatt

One Year Policies

Long Term Policies-5 years (For New Vehicles)

Not exceeding 3 KW

Rs. 457

Rs. 2,466

Exceeding 3 KW but not exceeding 7 KW

Rs. 607

Rs. 3,273

Exceeding 7 KW but not exceeding 16 KW

Rs. 1,161

Rs. 6,260

Exceeding 16 KW

Rs. 2,383

Rs. 12,849

Disclaimer: IRDAI is the regulator of the insurance industry in India. It notifies the electric vehicle insurance rates. The third-party liability premium rates are too fixed by the IRDAI. IRDAI has stipulated a 15% discount of 15% on third-party premium rates for electric two-wheelers.

Latest statistics you may like to know...
10 Lakh +

EVs registered since FY12

450+

Manufacturing of electric vehicle as on date

15 M +

expected EV sales by 2030

50% +

Approx electric vehicle are of two wheeler and 3 wheeler

HOW TO FILE A CLAIM FOR ELECTRIC BIKE?

At Bajaj Allianz GIC, the claim process for electric bike insurance is hassle-free. People may feel helpless if not have knowledge or information about the same. To make the claim process simple, follow the steps below.

  • ✓   Contact your insurer as soon as you meet with an accident and file an FIR.
  • ✓   Get assistance in towing the vehicle to the nearest garage only after securing all the evidence of the accident scene.
  • ✓   The network garage will provide you with a quote regarding the estimated cost of repair.
  • ✓   You will need that bill to present it to the insurance providers.
  • ✓   The insurer will verify the documents and evaluate their authenticity, and only then the claim process can begin.
  • ✓   Know that the deductibles and depreciation value can’t be claimed. Only the remaining amount will be paid to you as compensation.
  • ✓   After accounting for all this, the process you will have to follow goes like this.

 

  • Step 1: Register the electric bike insurance claim

    The customer may visit our website or call on our toll-free number for the electric bike insurance claim. Ensure to file claim timely as there are chances of evidence getting tampered with.


  • Step 2: Submission of electric bike insurance documents

    Here is a list of important documents that need to be submitted for a hassle-free claim experience.

    • ✓   Your contact information
    • ✓   Accident date and time
    • ✓   Description and location of the accident
    • ✓   Policy and two-wheeler registration number
    • ✓   Reading kilometers traveled by the electric bike
    • ✓   Vehicle inspection address

  • Step 3: Claim settlement

    When all the documents related to claims are submitted, the claim process will be initiated. You will receive the claim reference number. Once the verification is completed, the policyholder will be intimidated by the electric bike insurance coverage

    You can also check the electric bike insurance claim status online or via customer support by providing the claim reference number. The claim may get settled in either of the following ways

    Cashless e-bike insurance claim: In case the electric bike is taken to a network garage, the policyholder need not pay at the network garage for the electric bike for the covered items. The bills will directly be settled by the insurance company.

    Reimbursement e-bike Insurance Claim: · In case the electric bike is taken to a non-network garage, you need to keep all the bills safe and handy. You can claim the money for it later. 

Remember the Do’s and Don’ts of Electric Bike Insurance Claim

 

The table below highlights the dos and don'ts that should be kept in mind in case of an unforeseen event:

Do’s

Don'ts

Click the accidental pictures of the electric two-wheeler. Ensure to click pictures of the surroundings including the exact position of the e-bike

Never move the bike in the accidental case as it may in case the incurred damage

Make a note of the injured person and note the hospital where the treatment is to be undertaken

In case of third-party liability, reach out to the local police station and the insurance company at the earliest. Never flee from any situation

Customer Stories

Average Rating:

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(Based on 18,050 reviews & ratings)

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The vehicle was used by our Zonal Manager Sir. We appreciate the timely and speedy action initiated by you in getting the vehicle ready for use within short span of time. The action has been appreciated by all. 

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Being a perfectionist, I prefer the best of everything. I wanted my car insurance policy to be airtight as well. With the add-ons and comprehensive plans,...

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I was in the middle of the road when a mishap happened. With cash crunch, I was looking for ways to get my car serviced without affecting my monthly budget...

FAQs About Electric Bike Insurance

Is it necessary to have an electric motorcycle insurance policy in India?

Any vehicle plying on the Indian roads needs to have third-party insurance which is a legal mandate. Anyone found without the insurance will end up paying a hefty fine or sometimes leading to imprisonment as well. 

Is breakdown coverage included in e-bike insurance?

While purchasing an electric two wheeler insurance, it’s important to understand what is covered and not covered under the plan. Moreover, the features, benefits, and quotes will differ from insurer to insurer. Therefore, do not buy an insurance policy in a hurry. It is better to look for e-bike insurance online for ease of buying. 

What type of e-bike insurance is best?

When it comes to securing your vehicle, it is always suggested to opt for a comprehensive two wheeler insurance plan. If you have an e-bike ensure that you are sufficiently covered with the best bike insurance policy. If required you may also look at including add-ons to the base plan making the e-bike more secure in case of uncertainty. 

Is it easy to claim e-bike insurance?

Yes, making a claim is an easy process. Ensure that you have the important documents in place and that the premiums are paid timely. You can also check the claim status of e-bike insurance online.

Is there a compulsory minimum duration for which I have to take electric two wheeler insurance?

For new vehicle, it is mandatory to have 5 year coverages for third party liability, whereas for old vehicle, 1 year, 2 year, 3 year tenures option available

Written By : Bajaj Allianz - Updated: 10st  September 2022

Thank You for Your Interest in Bajaj Allianz Insurance Policy, A Customer Support Executive will call you back shortly to assist you through the Process.

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I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

Disclaimer

I hereby authorize Bajaj Allianz General Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back at a convenient time. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) under either Fully or Partially Blocked category, any call made or SMS sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business. Furthermore, I understand that these calls will be recorded & monitored for quality & training purposes, and may be made available to me if required.

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