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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!
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 a fairly new concept that is gradually picking up pace. Undoubtedly electric bikes in India will be the next viable option in the coming years.
Choosing the right insurance policy for your electric bike depends on your needs and usage. There are primarily two types of electric two-wheeler insurance policies:
This is the most basic form of insurance and is mandatory by law. It covers you against any legal liabilities arising from damages or injuries caused to a third party.
A comprehensive policy covers third-party liability, own damage, theft, and natural calamities. It is highly recommended for those who want complete protection for their electric bike.
On-the-go claim settlement through Health CDC.
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.
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.
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.
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
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
Reducing the premium of your electric scooter insurance is possible with a few smart choices:
Opting for a higher deductible can lower your premium, but make sure you can afford it during a claim.
Refrain from making small claims to retain the No Claim Bonus.
Installing safety devices can reduce the theft risk and lower the premium.
Several factors influence the premium amount for electric two-wheeler insurance. Understanding these can help you make an informed decision:
The make and model of the electric bike, along with its motor capacity (measured in kilowatts), play a crucial role in determining the premium. Bikes with higher capacity and advanced features typically attract a higher premium.
IDV is the maximum amount the insurer will pay in case of total loss or theft. A higher IDV means a higher premium but provides better coverage.
Add-ons like zero depreciation cover, motor protector, and roadside assistance enhance the policy but come at an additional cost. Choosing the right add-ons can significantly affect your premium.
NCB is a discount for not making any claims during the policy term. It can help reduce your premium over time, making it more affordable.
The age of the bike and its location also impact the premium. Older bikes may have a lower premium, while bikes in urban areas with higher traffic and theft rates may have a higher premium.
Electric bikes offer a cleaner and more sustainable mode of transport. However, like other vehicles, they are not immune to accidents, theft, or damages. Due to their advanced technology and components, electric bikes' repair and replacement costs can be significantly higher than traditional bikes. This makes electric scooter insurance a crucial investment for every e-bike owner.
An electric bike insurance policy provides financial protection in case of accidents, theft, or damages. This ensures that unexpected repair costs or liabilities stay within your savings.
According to Indian laws, all vehicles, including electric bikes, must have at least third-party liability insurance. Failing to have the required insurance can result in legal penalties.
Insurance for your electric bike means you can ride with peace of mind, knowing you are protected against unforeseen events.
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:
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.
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 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:
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.
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.
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:
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
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.
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.
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.
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.
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 fixed by the IRDAI too. IRDAI has stipulated a 15% discount of 15% on third-party premium rates for electric two-wheelers.
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:
As per the requirement, research for e-bike insurance policy options and plans is accessible.
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)
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 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.
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
Renewing your electric scooter insurance is a straightforward process, but it’s essential to do it on time to avoid any lapse in coverage. Here’s how you can renew your e-bike insurance:
Ensure you renew your policy before it expires. An expired policy can lead to legal issues and a loss of the No-Claim Bonus.
Before renewing, compare different insurance policies online to see if you can get a better deal. Look for discounts and additional features that might benefit you.
While renewing, you can opt for additional covers based on your current needs. Add-ons like roadside assistance or zero depreciation can provide enhanced protection.
Most insurance companies, including Bajaj Allianz General Insurance Company, offer a simple online renewal process. Visit our website, enter your policy details, choose the add-ons, and make the payment.
In case of an unfortunate event, filing a claim for your electric bike insurance requires certain documents. Here’s what you need:
Ensure all these documents are in place to have a hassle-free claim process.
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.
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.
Here is a list of important documents that need to be submitted for a hassle-free claim experience.
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.
Electric bikes offer a cleaner and more sustainable mode of transport. However, like other vehicles, they are not immune to accidents, theft, or damages. Due to their advanced technology and components, electric bikes' repair and replacement costs can be significantly higher than traditional bikes. This makes electric scooter insurance a crucial investment for every e-bike owner.
Opting for a higher deductible can lower your premium but ensure you can afford it during a claim.
Refrain from making minor claims to retain your No Claim Bonus, which helps reduce your premium over time.
Adding safety devices can lower the theft risk and may result in a lower premium.
Explore different insurance policies to find better rates for your e-bike and usage.
Practicing safe riding habits can lead to discounts from insurance companies for responsible riders.
Insurance for electric bikes tends to be more expensive than traditional bikes due to several reasons:
Electric bikes require higher repair costs due to the expensive battery and motor parts.
The limited availability of spare parts can increase repair costs.
Electric bikes are often more attractive to thieves, leading to a higher premium.
Electric bike insurance is a legal requirement and crucial to protect your financial security. With electric vehicles' growing popularity, comprehensive electric two-wheeler insurance is wise. Bajaj Allianz General Insurance Company offers a range of options to suit your needs, providing peace of mind and protection for your electric bike. Choose wisely, compare the options, and ride safely!
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 |
The policy offers protection against both natural and man-made calamities subject to the terms and..
Read moreCoverage 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
The personal accident cover is extremely helpful if the policyholder succumbs to ...
Read morePersonal Accident Cover:
The personal accident cover is extremely helpful if the policyholder succumbs to death or incurs a permanent disability arising out of an accident while riding the two-wheeler. A specified sum insured remains payable to the nominee as per the existing terms and conditions in the policy.
A third party insurance is imperative for all the owners of two-wheeled vehicles in India...
Read moreThird-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.
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.
If e-bike is taken to any mechanical shop.
If any damage is incurred to the insured vehicle while performing any stunt the insurance doesn’t offer any cover.
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.
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.
Set Renewal Reminder
Thank you for your interest. We will send you a reminder when your policy is due for renewal.
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 7,200+ 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
EVs registered since FY12
Manufacturing of electric vehicle as on date
expected EV sales by 2030
Approx electric vehicle are of two wheeler and 3 wheeler
(Based on 18,050 reviews & ratings)
Siba Prasad Mohanty
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.
Rahul
“A range of options to choose from.”
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,...
Meera
“OTS claims was a blessing in disguise.”
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...
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.
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.
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.
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.
For a new vehicle, it is mandatory to have 5 year coverages for third party liability, whereas for old vehicles, 1 year, 2 years or 3 year tenures options are available.
No, most bike insurance policies do not cover battery replacement as it is considered a consumable part. However, some insurers may offer it as an add-on.
Yes, according to the Motor Vehicles Act, electric bikes must have at least third-party liability insurance.
You will need your bike's registration certificate, identity proof, address proof, and previous policy details if any.
No, electric bikes do not require a Pollution Under Control (PUC) certificate as they are emission-free.
Two main types of two-wheeler insurance are third-party liability insurance and comprehensive insurance.
Yes, insurance policies differ based on the type of vehicle. Electric vehicles have specific policies catering to unique requirements.
Yes, all e-bikes require at least third-party insurance as mandated by law.
Yes, it is mandatory to have insurance for electric scooters just like any other vehicle.
You can compare e-bike insurance online by visiting various insurance websites, checking the coverage, and comparing premiums and features.
Yes, third-party insurance is valid and mandatory as it covers legal liabilities arising from damages caused to a third party.
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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.
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