Petrol prices are hiking up every time and they will drain your savings. This would make it a necessity to get electric vehicles instead of petrol/ diesel-run vehicles. Instead of getting petrol-run bikes, it has now become a new trend to buy an electric bike. There are many advantages to electric bikes over normal ones.
Electric bikes are the best decision to fight pollution and fuel prices. When you decide to buy electric bikes you just need to consider some factors like performance, price, riding range etc. it provides a very useful option in city riding circumstances.
What Is Electric Bike Insurance?
The trend is real now in India too that people have started purchasing electric bikes instead of fuel-filled one. People have started accepting the benefits of buying electric bikes over the others as the reasons are pretty obvious. They run on batteries and can be charged using electricity, thus saving the environment from pollution and other hazards. Thus they protect the planet overall with their clean features.
If you are purchasing an electric bike with all these factors in mind when you are doing your bit for the environment as a responsible person. But your bike needs to be secured as well with insurance to abide by the law and keep yourself and others safer while riding it. The benefits of purchasing electric bike insurance are briefly mentioned below.
- Keep your finances under control in the event of an unforeseen event.
- Option for enhanced coverage according to your needs
- Due to the costly body parts of the electric bike the insurance cover is of too much help while giving it for repairs after an accident. With an insurance cover, the damages are rectified sooner.
- The secure feeling of obeying the law as it is mandatory to have insurance in place.
- Zero worries about expenses when the bike gets damaged as the insurance company comes to the rescue when you have a proper cover in place.
What To Know About Electric bikes in India
Fuel-filled bikes and other vehicles not only are money drainers because of the high prices of fuels but also a threat to nature and living beings due to the amount of pollution it causes. The fumes contain all dust and pollutants or harmful gases which are released into the air that directly affects everything who breathes in that air. Electric bikes are cheap and a very eco-friendly mode of travelling.
India has its brands of electric bikes that differ in performance, range, speed and price depending on the manufacturers. There are brands like Hero, Indus Yo Bike, Honda and Avon Pride that manufacture electric bikes in India.
As we know Indian roads are not very good to travel unless it is a national highway or similar ones, a lot of noises occur when you travel in any vehicle, especially two-wheelers. When it comes to electric bikes on the roads in India they just zoom through the roads with great silence instead of the normal race-like sounds. Some electric bikes in India have started manufacturing with an artificial noise device to notify the third party when the bike approaches them as normally they are silent on roads
What Is Covered Under An Electric Bike Insurance Plan?
The insurance cover for electric bikes comes with a set of plans from the insurance companies for you. They are
- Cover for road accidents expenses
- Repair and replacement costs when the electric bike gets damaged
- Theft cover
- Fire cover if there is damage on the electric bike due to a fire accident or if the bike goes into a total loss.
- Third-party mandatory cover will be given as per the law.
- The insurer provides personal accident cover in the plan for the policyholder.
What Is Not Covered Under The Electric Bike Insurance?
Some factors are not covered under the electric bike insurance. They are mentioned below
- No own damage cover if you do not have a comprehensive plan for the e-bike.
- No cover if the insured causes an accident after drinking alcohol or uses drugs and drives.
- No cover will be provided if the bike owner rides without a valid driving licence
- There will not be any cover if your bike suffers damage due to poor maintenance like improper usage of batteries and you are not aware of it which are also treated as consequential damage.
- If the bike gets damaged due to your negligence of its bad performance and you are aware already that repairs are required, but still, you keep riding it and meet with an accident the insurance company will not come to the rescue
- Only third-party insurance will be provided by default unless you have an add-on for your personal damage cover.
- No cover will be provided for a lapsed insurance policy.
Third-Party e-Bike Insurance Premium
The premium for e-bike third party insurance is calculated based on the engine cc of the bike. It is mentioned in the table below.
| Engine CC of the Electric Bike | E-bike Third party insurance Premium price |
| CC upto 3 KW | Rs. 457 |
| CC over 3 KW to 7 KW | Rs. 607 |
| CC over 7 KW to 16 KW | Rs. 1161 |
| CC over 16 KW | Rs. 2383 |
Some Of The Best Electric Bikes In India
| Electric Bike | Top Speed | Battery charging Time | Range per Charge |
| Hero Electric Zion | 25km/ hour | 8 hours | 45km/ charge |
| BSA Fusion | 25km/hour | 6-8 hours | 60km/charge |
| YO Xplor | 45km/ hour | 6 -8 hours | 60km/ charge |
| TVS Tube | 40 km/hour | 6-8 hours | 70km/charge |
Top 10 Insurance companies in India offering Electric Bike Insurance Cover
| Electric Bike Insurance Company | Premium Starting Amount |
| Digit Electric Bike Insurance | Rs. 899/-* |
| National Insurance Electric Bike Cover | Rs. 970/-* |
| Navi General Electric Bike Insurance | Rs. 989/-* |
| Magma HDI Electric Bike Insurance | Rs. 959/-* |
| Shriram GIC Electric Bike Insurance | Rs. 958/-* |
| Kotak Electric Bike Insurance | Rs. 989/-* |
| TATA AIG Electric Bike Insurance | Rs. 1005/-* |
| Liberty General Electric Bike Insurance | Rs. 1012/-* |
| Reliance General Electric Bike Insurance | Rs. 1080/-* |
| IFFCO Tokio | Rs. 1121/-* |
*All Premium amounts are subject to changes according to the Insurance company’s change of terms and conditions and the latest amounts can be obtained by only contacting the companies directly.
Benefits Of Buying An Electric Bike
Be it a normal bike or an electric bike you must purchase insurance for the same as is the rule in India. Minimum third-party cover insurance is a must for all who ride the vehicles. The same applies to an electric bike. Some of the major advantages of buying an electric bike are mentioned below.
- Low-cost maintenance
- Affordable to everyone who plans to purchase a bike
- Saving on the money spent on petrol/diesel thus reducing air pollution
- No PUC certificate is needed as it does not cause pollution
- It can be charged very easily anywhere, even at shopping malls.
- Can be ridden on multiple terrains like cities, highways, hills, etc.
- The price range for e-bikes in India shows between Rs. 26,000 and up to Rs. 2 Lakhs
- The battery life of an electric bike can last from 3-5 years if maintained and used properly.
Common FAQs
- Is it necessary to have a driving licence for my electric bike if the top speed is just 25km/hour? Do I need to register this Bike with the MVD?
The Motor Vehicle Act accepts electric bikes as well as motorcycles that have a maximum speed of 25km/ hour to be ridden without any driving licence. Learners’ licence is also not required. This e-bike doesn’t need to be registered under the MVD and it won’t have a registration number.
- Do I need to buy insurance for my e-bike with a top speed of 25km/hour?
It is always recommended to buy a minimum third-party insurance policy but if the policyholder doesn’t prefer to buy insurance for bikes with a maximum speed of only 25km/hour it is okay.
- Is it okay to ride my electric bike in the rain?
Electric bikes are designed and developed in a way that they can be driven under any circumstances. However, it is highly recommended to avoid flooded areas to maintain the battery health of your e-bike.
- Can I renew my e-bike insurance online?
Of Course, you can do it online as there should not be a break in your coverage. Just login into your insurance provider’s website and enter your bike details. And go to renew option. In this stage, if you want to choose enhanced coverage you may do that. Then your premium comes up. You may choose the mode of payment and get your renewed insurance in your registered email id. This can be done very fast and instantly at your home without having to visit the insurance office.