Insurance For Electric Two Wheelers In India

Types Of Two-Wheeler Insurance

The various types of two-wheeler insurance are mentioned briefly below - 

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 damage caused to a third-party or their properties. It also covers the owner of the vehicle.

Comprehensive Two-Wheeler Insurance Policy: A comprehensive two-wheeler insurance policy will provide you with greater protection. It protects the policyholder from a variety of manmade and natural disasters.

In the event of an unexpected event that causes damage or loss to you or your vehicle, an insurance policy might be your greatest ally. Vehicle insurance coverage is meant to be renewed annually. However, these days, insurers offer long-term insurance plans for up to three years. Choosing this sort of policy can save you time and money, and you may even be eligible for savings.

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

Despite the government's efforts to promote the usage of electric vehicles in India, demand for them remains low. This is one of the primary reasons why electric two-wheelers are still not affordable to everyone. If you already own an e-bike or intend to get one soon, you may know it is a big expenditure. E-bikes have their pros and disadvantages. Though they are environmentally benign, noiseless, and cost-effective to use, complicated electrical, mechanical, and computer-driven technologies are prone to loss and damage. As with any other motor vehicle, e-bikes carry certain dangers. As a result, it is critical that you obtain adequate insurance for your e-bike and ride safely. 

High Degree of Risk

Some of the high-end electric vehicles travel faster and are larger. This makes them much more vulnerable to risk. Furthermore, the vehicle's complicated technology, as well as its electrical and mechanical components, are more likely to fail. Insurance can be a lifesaver in unpleasant and unforeseen situations. In the absence of this, the vehicle's owner will be solely responsible for the high costs of repair and retrieval, as well as any human injury. 

Limited E-Bike Coverage

As e-bikes have not yet been widely adopted, they are insured in the same way that motor vehicles are. Traditional insurance providers in India often give limited coverage for e-bike insurance. Some insurance firms refuse to ensure electric motorcycles because registration is not required. As a result, it is critical to compare your alternatives and select the insurance that provides the most coverage at the lowest possible cost. 

E-Bike Insurance Is Affordable

Most existing electric two-wheeler versions do not exceed 60 km/hr, particularly in India, where e-bikes have yet to gain popularity as a form of transportation. This makes them ideal for metropolitan commutes when speed is limited owing to heavy traffic. Lower speed indicates lower risk; thus it should not be as expensive as vehicles with bigger cubic capacity and more power. You may also customise your insurance policy to meet your individual needs. A typical comprehensive insurance policy will cover a wide range of hazards, including theft, collision, crash, fire, and other natural and man-made calamities.