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Insurance For Electric Two Wheelers In India

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Generally referred to as e-bikes, electric two-wheelers are costly and involve a high degree of risk due to its own limitations. However, you might find it difficult to find insurance providers who typically cover electric two-wheelers. This doesn’t mean you can let your e-bike remain uninsured. You will certainly find insurance options for your e-bike that you may analyse and choose the one that best meets your requirements.

Two Wheeler Insurance For Electric Vehicles

In India, the degree of risks associated with electric two-wheelers is limited as they offer a comparatively controlled speed and performance as the motor vehicles do. Yet, it is important to get your e-bike insured against a variety of damages and losses that may occur to the vehicle due a range of incidents.

Why Is Two-Wheeler Insurance Important For Your e-bike

A vast majority of people in India do not consider two-wheeler insurance to be of importance as they hardly get to utilise the same. When in reality, they can never predict when and how a tragedy may strike them. Such incidents may result in physical injuries or damages or losses to the vehicle. In the absence of a two-wheeler insurance policy, all such losses and expenses will have to be taken care of by the owner of the vehicle. And these expenses can go really high. An e-bike insurance policy will protect you against all such risks. Also, a two-wheeler insurance has been compulsory as per the Motor Vehicles Act of 1988.

Types Of Two-Wheeler Insurance

If you wish to buy an insurance policy for your electric bike, there are mainly two types of policies you should know about:

Third-Party Liability Insurance: This is the basic form of insurance mandatory in India. The policy primarily protects the policyholder against any financial or legal liabilities arising out of losses or damages caused to a third-party or their properties. It also covers the owner of the vehicle.

Comprehensive Two-Wheeler Insurance Policy: A comprehensive insurance policy for your two-wheeler will give you a greater scope of protection. It provides the policyholder protection against a variety of man-made and natural disasters.

In any unfortunate event that causes damages or losses to you or your vehicle, an insurance policy can be your biggest rescuer. A vehicle insurance policy is supposed to be renewed every year. However, these days insurers are offering long-term insurance plans for a period up to three years. Opting for this type of policy can save you from unnecessary hassles and you may also be eligible for certain discounts.

Below are some of the important aspects why you should never escape a two-wheeler insurance for your electricity powered bike.

E-bikes Are Expensive

In spite of government pushing hard to promote the use of electric powered vehicles in India, the demand for the same has been low. This is one of the prime reasons why electric two-wheelers are still not affordable for all. If you already own an e-bike or planning to get one in near future, you might be aware that it is a significant investment. E-bikes have their own advantages and limitations. Though they are environment friendly, noise free, and affordable in terms of usage, the complex electrical, mechanical, and computer driven technologies are susceptible to losses and damages. There is a certain amount of risk associated with the e-bikes just like any other motor vehicle. Thus, it is important for you to pay due attention to getting your e-bike insured and ride worriless.

High Degree Of Risk

Some of the high-end electric vehicles tend to go faster and are bulkier. This makes them even more prone to risk. Also, the complex technology and electrical and mechanical parts used in the vehicle have a higher risk of failure. An insurance could be a great saviour in unfortunate and unexpected events. In absence of which, the hefty expenses on repair and retrieval of the vehicle and on personal injuries will have to be completely borne by the owner of the vehicle.

Limited e-bike Coverage

Since e-bikes haven’t seen a mass adoption as yet, an electric bike is insured the same way as a motorised vehicle. Traditional insurance providers in India typically offer a limited coverage on e-bike insurance. Some insurance companies even do not offer insurance for electric bikes simply because they do not require registration. Reasoned to the same, it is important to analyse the available options and choose the policy that offers you the best coverage at minimum cost.

E-Bike Insurance Is Affordable

Especially in India where e-bikes are yet to become a popular way to commute, most available electric two-wheeler models do not go beyond the speed of 60 kms/hr. This makes them apt for city commute where you may not have the option of going fast due to heavy traffic. Lower speed means lower risk, which is why, the insurance for electric two-wheelers should not be too expensive as in the case of motor vehicles that have a higher cubic capacity and give riders more power. You may also customize your insurance policy based on your specific requirements. A typical comprehensive insurance policy will provide you coverage against a variety of risks such as losses or damages caused by theft, collision, crash, fire, and other natural and man-made disasters.

Two Wheeler Insurance Reviews

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  • Bajaj Allianz Two Wheeler Insurance
    "Need to reduce the premium"
    0.5 4.0/5 "Great!"
    My two wheeler insurance is with Bajaj Allianz because mine is Bajaj bike so it will be easier for claim and also lot of showrooms included. I got the insurance paper. The claim process was average, the amount was not fully refunded. Also the process was lengthy. I have paid the premium of Rs.2000 for one year. It is a first party insurance. I felt the premium is quite high.
    Was this review helpful? 2
    , hyderabad
    Reviewed on Jan 18, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Average"
    0.5 3.0/5 "Satisfactory"
    I took my two wheeler insurance from Bajaj Allianz last year. It was suggested by my friend because he is working. I have paid approx 1000 rupees to purchase the policy. I never had a customer service experience and no claim. The benefits are good and its a third party insurance.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 18, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Not recommendable policy"
    0.5 3.0/5 "Satisfactory"
    My two wheeler insurance was taken from ICICI Lombard. I have applied the claim from with ICICI Lombard but they have not given proper response. They have not processed the claim also. Since because of the lowest premium, i have opted this policy. The service is not upto the mark.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 18, 2019
  • Bharti Axa Two Wheeler Insurance
    "Excellent Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a long back and the premium has been paying annually. The premium amount has not been too high and the payment method has also been convenient. I had not made any claims so far and it has been a good policy for others as well.
    Was this review helpful? 1
    , navi mumbai
    Reviewed on Jan 18, 2019
  • New India Two Wheeler Insurance
    "Good Insurance company"
    0.5 4.0/5 "Great!"
    They are good in all service, without approach them they are providing good service. New India premium is economical, I paid the premium around Rs 7000 for three years. They gave me the third party cover, cash less service. They got tie up with many experience the agents are good.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 18, 2019
  • Bajaj Allianz Two Wheeler Insurance
    "Premium should be economical for the renewal"
    0.5 4.0/5 "Great!"
    Whenever there is a issue, I can reimburse with Bajaj Allianz its good than other company. One time I claimed, they gave me cash less service the premium is lesser than others then I changed it. The renewal option is good but they show more premium when I go for renewal.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 17, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy almost four years back and i am paying the premium annually. The premium amount has not been high and the payment method has been simple. There has not been any claims made so far and the services which they had offered so far was good.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 17, 2019
  • HDFC Ergo Two Wheeler Insurance
    "Good for two wheeler"
    0.5 4.0/5 "Great!"
    My policy belongs to HDFC Ergo, its a premium policy for one year the insured value is fine for me Rs. 97,000, I have the KTM Duke bike its good, I took first party insurance with HDFC Ergo, I really not interacted with them for any policy queries.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • Bharti Axa Two Wheeler Insurance
    "IDV percentage should be increased"
    0.5 4.0/5 "Great!"
    The insured value is low in Bharti axa, I Purchased Royal Enfield bike for Rs. 1.75 but they gave me only Rs. 1.20 lakh . My policy has the tenure of two years, I am not sure about the tie up services. I have taken the first party insurance. I purchased in the month of october 2017.
    Was this review helpful? 2
    , new delhi
    Reviewed on Jan 14, 2019
  • National Insurance Two Wheeler Insurance
    "Better"
    0.5 4.0/5 "Great!"
    I had my two wheeler insurance from National Insurance and it was a better experience. This insurance was issued by the showroom as a default. There is no claim. I felt the premium is bit higher so moved to HDFC Ergo. The customer service is better.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Ergo Two Wheeler Insurance
    "Excellent"
    0.5 5.0/5 "Blown Away!"
    My two wheeler insurance was taken from HDFC Ergo because it has more benefits and the premium is lower compared to others. It is a first party insurance. The customer service is very good. There was no claim and IDV value is good. I got the insurance paper.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Ergo Two Wheeler Insurance
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this insurance for my bike a long time back and it had been a good policy. I had been paying the premium on an annual basis and the premium amount was not too high as well. The payment method has been simple and there has not been any hassle. There has not been any claims made so far and there has not been any hassle faced with the services of them.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Jan 13, 2019
  • ICICI Lombard Two Wheeler Insurance
    "Good features"
    0.5 4.0/5 "Great!"
    I have my two wheeler insurance with ICICI Lombard. The services are good and there no hassles to get the policy. The premium is also nominal. The policy coverage and benefits are satisfactory. I also received the policy papers on time. Good in all.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 12, 2019
  • United India Two Wheeler Insurance
    "Its Good"
    0.5 4.0/5 "Great!"
    This policy was recently renewed for my bike, my brother went to the showroom and then he renewed the policy, the premium is economical as per the market. They are issuing the policy with the good coverage of bike. Its a trusted insurance company and I got the paper on time.
    Was this review helpful? 4
    , kolkata
    Reviewed on Jan 11, 2019
  • Reliance General Two Wheeler Insurance
    "Should get tie up with more service centers"
    0.5 3.5/5 "Pretty good"
    Even for my Bajaj discover bike I had Reliance general insurance it has the tenure of one year, they gave me good insured value around Rs. 19,000, it covers for the loss, damage. They need to get tie up with chennai to get the hassle free service.
    Was this review helpful? 2
    , chennai
    Reviewed on Jan 10, 2019
  • Reliance General Two Wheeler Insurance
    "Easy Renewal"
    0.5 3.5/5 "Pretty good"
    Based on my experience Reliance insurance company is good, the premium is standard as per the current market. I have Honda it covers for loss, damage cover. There is no claim experience, I used to visit to the branch for the renewal they provide good service.
    Was this review helpful? 1
    , chennai
    Reviewed on Jan 10, 2019
  • Iffco Tokio Two Wheeler Insurance
    "Quick Service "
    0.5 4.0/5 "Great!"
    I have bike policy with IFFCO TOKIYO, it was my friend bike later on it got transfered to my name with Iffco Tokiyo two wheeler policy, the insured value is good it has coverage for the loss and damage. On time they processed the policy on my name. I am happy about it.
    Was this review helpful? 2
    , mumbai
    Reviewed on Jan 10, 2019
  • New India Two Wheeler Insurance
    "Good Experience"
    0.5 5.0/5 "Blown Away!"
    In New India, I have insured my Hero CT delux bike, once a while it got damaged they done the service on time, the premium is low however the insured value is good. It has third party insurance, the service is good and I could renew the policy on time.
    Was this review helpful? 0
    , ambala
    Reviewed on Jan 10, 2019
  • National Insurance Two Wheeler Insurance
    "Its Good"
    0.5 5.0/5 "Blown Away!"
    In National Insurance the premium amount is low around Rs. 2000 for one year, the insurance company allocated Rs. 35,000 for my bike. My Honda dio vehicle is around 6 years, the policy activation done on time. My bike got damaged within 10 days.
    Was this review helpful? 3
    , ambala
    Reviewed on Jan 10, 2019
  • New India Two Wheeler Insurance
    "Average Two Wheeler insurance"
    0.5 3.0/5 "Satisfactory"
    My two wheeler insurance was taken from New India for my new bike. The showroom people has done a insurance when i purchased my two wheeler. I paid the premium amount of Rs. 1600. The documentation process was simple. They have given the IDV value of Rs. 55000 which I'm happy about.
    Was this review helpful? 3
    , mangalore
    Reviewed on Jan 09, 2019
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