A Guide for Choosing the Best Insurance for your Electric Bike

Over the past few years, electric bikes have gained immense popularity in India and worldwide. With the increasing awareness among the people about the ill effects of the pollution caused due to the regular vehicles on the environment, many people are switching to electric vehicles. They are touted to be the future of the two-wheeler industry.

What Is An Electric Bike?

Electric bikes or E-bikes are battery operated bikes which are charged using electricity. Such bikes are a favour to the environment and the society as it does not cause any pollution.

Buying An Insurance Policy For Electric Bike

As per the Motor Vehicles Act, all motorbike owners must mandatorily have a third-party bike insurance. In case of vehicles that run on battery, buying the third party insurance is yet not compulsory but advisable. By buying an e-bike, you are already contributing your bit in saving the environment. However, by purchasing bike insurance online, you can get financial protection against damage to your vehicle and assets in the event of an accident.

Let us look at the benefits of buying a bike insurance policy for your electric bike

• One of the obvious benefits of securing your e-bike with an insurance policy is financial security. If you meet with an accident, the insurance company will cover the expenses you may incur in repairing or replacing the parts of your damaged bike. The extent of coverage you get depends on the policy’s terms and conditions.

•When buying a bike insurance policy initially, you may get a policy that provides only basic coverage. However, you can enhance the coverage by switching to a new plan or purchasing riders during renewal. You can only pay the additional premium to enjoy the enhanced coverage.

•Another significant benefit of buying bike insurance for your electric bike is that you can abide by the law and avoid paying a penalty for driving without a valid insurance cover.

•You can always have a peace of mind as you need not worry about the expenses you may incur after an unfortunate accident.

What is covered under bike insurance for e-bikes?

The coverage for e-bikes may vary based on the type of policy you buy. Generally, the third-party insurance covers only the damages you may cause to other person’s vehicles involved in an accident. On the other hand, a comprehensive bike insurance policy covers both third-party liability and damages to you and your vehicle.

The common things covered under a comprehensive policy include:

• The insurance company will cover the expenses you may incur in replacing or repairing the damaged parts of the e-bike.

• If your bike gets stolen, the insurance policy will help you get compensation equal to the IDV (insurance declared value).

• In the event of any fire accident that damages your bike, the insurance will cover the losses. In case of total loss, the insurer will compensate as per the policy terms and conditions.

• If you get hurt in an accident, the insurance company will pay for your hospital expenses.

What is not covered under e-bike insurance?

• If you have third-party liability insurance, it will not cover the damages caused to your vehicle or other property.

• If you get involved in an accident while driving under the influence of alcohol, drugs or any other intoxicating substance, the insurer will not offer any coverage.

• If you are caught while driving without a valid driving licence, the insurer reserves the right to deny the claim request.

• If you fail to renew your e-bike insurance policy on time, the insurer will not cover the damages caused to your bike or third-party’s damages.

Final Word

Today, buying a two-wheeler insurance policy is easier than ever before. You can visit the Zurich Kotak General Insurance website to know about the features and benefits of the policy, and request a quote by providing a few basic details on the website. If you have any doubts, you can contact our customer support representative through an online chat facility or toll-free number, and we would be more than happy to help you get the best policy to suit your needs.