Given the rising awareness of environmental degradation, it is no surprise that more and more people are inclining towards environment-friendly modes of transport. This has led to rising demand for electric bikes. Many people might think electric bikes do not need insurance. But this is certainly not the case.
The bike being an e-bike doesn’t make it any less worthy of insurance. Also, the mandate of the Motor Vehicle Act to have at least a third-party insurance is applicable to electric vehicles as well. However, if you want 360° protection for your electric bike, you should opt for comprehensive two wheeler insurance.
But before you buy the two-wheeler insurance for your electric bike you must compare bike insurance based on the critical parameters given below.
Wondering what is the need for two wheeler insurance? Read on!
When you opt for two-wheeler insurance for your electric bike, you must choose a reliable insured. Before buying the policy, look for the following –
These all are the essential factors that can provide you with a clear insight into the good or bad service quality of the insurance company.
For two-wheeler insurance, you must know how and where to get the right insurance. The greatest advice would be to avoid any agent for your e-bike. The best way you can go is to go for online insurance, run through the whole catalogue or the list of plans available and choose the desired ones.
Make sure the plan you choose covers all the necessary aspects, like theft of your e-bike or any damage to it. Also, check if there are any add-ons included in the plan, and make sure they meet your requirements. Once the plan is selected, you can go ahead and purchase the insurance. The payment options usually include credit/debit cards, net banking, UPI, and so on.
While you opt for two-wheeler insurance, the companies you shortlist will have a variety of different plans, coverages, and other stuff in their insurance packages.
The Insurance Regulatory and Development Authority (IRDA) has issued several directives and guidelines to increase the availability and affordability of two-wheeler insurance. There are tons of bike insurance companies that give many facilities to their customers. Make sure to get the best out of what is available and also do not forget to get people’s reviews on the companies. Also, do not forget to keep the above-mentioned criteria in mind while buying an e-bike or two-wheeler insurance!
Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.
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