Whether you own a conventional motorcycle or a modern-age e-bike, you must have a bike insurance policy if you want to protect yourself and your two-wheeler against possible unfavourable incidents.
The increasing popularity of e-bikes has added a new dimension to the insurance landscape. Because they run on chargeable batteries, they don’t lead to pollution and also help in conserving fossil-fuels, specifically petrol.
This new shift towards electric vehicles leads to an obvious question: How does electric bike insurance differ from conventional comprehensive bike insurance?
Here, we will look at the detailed answer to this question and several other aspects you need to know before purchasing a two-wheeler insurance policy.
Without any further ado, let’s dive in!
What is Electric Bike Insurance?
As discussed above, electric bikes have been gaining huge popularity in recent years. Unlike the conventional bikes, the e-bikes run on a battery that is chargeable, offering great convenience and cost-efficiency to the users.
But regardless of how handy these e-bikes are, they too are prone to accidents. This is where ebike insurance comes in. Electric bike insurance is an insurance policy that offers coverage for the expenses that come after your bike meets an unfortunate incident.
These expenses may include the repair cost of the vehicle or any third-party damage as well as treatment of injured people involved in the accident.
Why Should You Consider Having Insurance for E-bikes?
Are you still wondering if it is worth getting e-bike insurance? Following are the reasons why you should consider purchasing e-bike insurance:
- Financial Support
Having electric bike insurance provides you with financial support. In case you get into an unfortunate accident with your e-bike, your insurance policy will help you deal with the resulting expenses like repairs, replacement, and treatment.
- Quick Damage Recovery
Looking at the high cost of repair and replacement for e-bikes, we can say that handling the damage recovery can be a costly affair. The right ebike insurance policy enables you to deal with such hefty expenses without wrecking your budget.
- <H> Enhanced Coverage
Perhaps the best thing about a good two-wheeler insurance policy is that it offers coverage for a variety of situations besides just road accidents.
What is Covered Under Electric Bike Insurance?
E-bike insurance coverage is not a lot different from the coverage offered by a conventional bike insurance policy. Most e-bike insurance schemes from reputed insurance companies offer coverage for the following events:
- Road Accidents
If you get involved in a road accident, insurance for two wheeler will provide you with the necessary financial aid for any loss or damage that took place.
- Theft of E-bike
In some cases, insurance for e-bikes also offers coverage for the theft or burglary of your vehicle. It means you can claim your insurance and get reimbursed in case your e-bike gets stolen.
- Natural Calamity
Natural calamities like earthquakes, floods, storms, etc., are also covered under the premium insurance schemes offered by the top insurers.
- Third-party Liability
As you may already know, third-party insurance is mandatory for all e-bike owners. This plan offers coverage for any loss or damage caused by your motorbike to a third party. However, you can purchase comprehensive insurance that offers coverage for personal as well as third-party damage during an accident.
- Vandalism
Any damage to your bike due to man-made disasters, such as riots, attacks, etc., may also be covered with insurance for ebikes. This acts like a safety net in situations you can not control.
Electric Bike Insurance Vs Conventional Bike Insurance: Is There a Difference?
As per the Motor Vehicles Act passed by the Supreme Court in 2019, every two-wheeler owner must have a third-party insurance policy for five years. If any bike rider is found without insurance, they will be fined and may also end up in jail.
Instead of a 5-year third-party insurance for a bike, you can also opt for a comprehensive bike insurance plan from a reputed provider. However, in the latter case, the validity of the online two-wheeler policy should be at least three years.
As a matter of fact, there is not much difference between ebike insurance and insurance of conventional bikes. Both types of insurance policies offer nearly the same coverage. The only difference between them lies in their pricing, which can be slightly higher for e-bikes.
Final Words
Ebike insurance is not much different from insurance for a conventional bike. It offers nearly the same coverage and the same benefits. Most importantly, it lets you have a safe and relaxing bike riding experience.
Having insurance for e-bike is not merely an option but a legal requirement for every bike owner in India. For this reason, purchase a suitable insurance policy if you haven’t already.
Remember, riding an uninsured bike can lead you to serious legal troubles. So, find a reliable insurance provider and purchase your policy today!
