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What is Electric Bike Insurance?

As more people turn towards eco-friendly and efficient transportation, electric bikes are quickly becoming a preferred choice by riders seeking sustainability and convenience. While you choose a bike to protect the environment, we offer electric bike insurance to protect your valuable choice.

At IndusInd General Insurance, we understand that electric bikes have unique needs. Thus, our EV bike insurance is designed to offer extensive protection, ensuring you can enjoy your ride without worries. IndusInd e-bike Insurance safeguards your beloved vehicle from accidents, breakdowns, fire, theft, personal accidents and more. Moreover, it covers high-value batteries, electric motors and battery chargers, ensuring your eco-friendly investment is safe.

Additionally, our extensive cashless repair network across the country means you can access hassle-free service whenever you need it. Embrace the future of mobility and join the sustainable revolution with peace of mind and security, supported by your #BikeKaYaar.

Electric bike insurance is a specially designed plan that safeguards e-bikes from losses and damages sustained during an accident. Since these bikes function differently than fuel-based bikes, their coverage needs also vary. Thus, our insurance for e-bikes is tailored to meet the unique needs of electric bike owners and provides extensive coverage from a wide range of perils. These include protection from accidental damage, damages caused by fire, theft, riots, strikes, natural calamities, etc.
damages caused to the EV battery by water ingression or moisture build-up, third-party liabilities, medical expenses arising out of injuries sustained by the owner-driver.

Why Should I Buy Electric Bike Insurance?

Financial Protection

Our electric bike insurance provides coverage against hefty expenses incurred due to theft, accidents or damage, ensuring you do not have to bear unexpected repair or replacement costs.

Legal Compliance

In India, every car and bike owner is legally required to have insurance for their vehicles according to the Motor Vehicle Act of 1988. Our plans ensure you meet legal obligations and avoid fines or penalties.

Comprehensive Coverage

Our comprehensive e-bike insurance offers extensive coverage against various risks, including fire, vandalism, and natural disasters, providing peace of mind in diverse situations. The coverage can be further enhanced with a wide range of available add-ons.

Peace of Mind

Enjoy the freedom and convenience of riding your electric bike without worrying about the financial implications of unforeseen events.

IndusInd General Electric Bike Insurance Plans

IndusInd General Insurance offers a variety of plans that offer different coverage options, suiting every customer’s needs. We understand the varying needs of our customers; thus, here are the types of e-bike insurance by IndusInd General Insurance:

Third-Party Two-Wheeler Insurance

Our third-party insurance provides financial coverage against third-party liabilities involving your insured EV bike. It covers losses incurred in the form of damages, bodily injuries, death or property damage.

Own-Damage Two-Wheeler Insurance

Own damage offers a wider coverage in case your bike sustains damage due to any of the covered perils. This financial protection against unpredictable circumstances also gives you access to our wide range of add-ons.

Comprehensive Two-Wheeler Insurance

This policy offers comprehensive coverage, covering third-party liabilities along with own damages and a choice of add-ons. You can choose from flexible tenure options of 2, 3 or 5 years.

Benefits and Features of IndusInd e General E-Bike Insurance

Coverage for Third-Party Liabilities

Our two-wheeler insurance plans offer coverage against third-party liabilities of up to ₹1 lakh if you cause injury or damage to third-party property while riding.

Quick Claims Process

With an easy-to-follow and efficient claim process, IndusInd General Insurance ensures that claims are settled swiftly and in a hassle-free manner. Additionally, the process is online and streamlined, giving you quicker compensation.

Flexible Policy Options

You can choose from various policies with varying durations, such as our long-term insurance plans. This allows you to customise your plan based on your coverage and budget needs.

Easy Online Renewal

Renew your electric motorbike insurance conveniently renew your policy online through a simple process, ensuring uninterrupted coverage for your electric bike.

No-Claim Bonus

For safe driving and not making claims on your electric motorcycle insurance, you can receive discounts in the form of a No-Claim Bonus (NCB) of up to 50% for five consecutive claim-free years.

Personal Accident Cover

We offer financial protection for the owner-driver of up to ₹15 lakhs to recover from injuries sustained in an accident.

Comprehensive Coverage

We offer protection against various kinds of perils, including accidents, theft, fire, natural calamities, etc., ensuring complete safety for your bike.

Roadside Assistance

With us, you benefit from 24/7 roadside assistance, which includes services like towing, battery jump-starts and other minor repairs. We ensure that you are not stranded in case of a breakdown.

Add-Ons for Enhanced Protection

We offer a wide range of 10+ add-ons that offer specific coverage for specific requirements. Our e-bike insurance features add-on covers that enhance protection for the most important and expensive bike parts.

Minimal Paperwork

We offer online buying, renewal and claim processes with minimal to zero paperwork, making them highly convenient and hassle-free.

Cashless Repairs

With a huge network of over 11,000+ garages spread across the country, we offer a seamless cashless repairs facility to speed up the claim process.

IndusInd General E-Bike Insurance - Inclusion & Exclusion

What is Covered?

Damages caused to your e-bike by:

Damage to Battery Management System (BMS) or battery due to a power surge while charging

What is Not Covered?

Normal wear-and-tear

A vehicle used outside of its intended use.

Damage to/by a person driving without a valid driving licence

Loss or damage caused while riding under the influence of alcohol or any other intoxicating substance

Loss or damage to the accessories by theft, housebreaking or burglary, unless the bike is stolen during the same time

Loss or damage covered under the manufacturer’s warranty

Damages caused by manufacturing defects are known to the owner at the time of buying the policy.

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Electric Bike Insurance Add-On Covers

We offer specified coverage for e-bikes through carefully designed add-on covers, which protect the costs of repairing and replacing crucial and expensive parts. These add-ons are available with our own-damage and comprehensive electric bike insurance policies: Following are the popular add-ons that enhance the coverage of your e-bikes:

Electric Vehicle Battery Protection Cover

Best Seller

This covers the cost of repairing or replacing the lithium-ion battery damaged by water intrusion, unexpected electric surge, explosion, etc.

Electric Vehicle Electric Motor Protect Cover

Best Seller

This add-on covers the costs of consequential damage to motor parts, differentials and transmission units.

Electric Vehicle Charger Cover

Best Seller

This covers the cost of repairing or replacing the charger and its components (adapter, charging unit and cables) due to various reasons.

Nil Depreciation

Best Seller

This cover ensures the full claim amount without the deductions due to the depreciation of bike parts, providing better financial protection.

Return-to-Invoice Cover

Best Seller

This policy ensures reimbursement of the full invoice price of your bike, including registration charges and road tax, in case of total loss or theft.

Helmet Cover

Best Seller

Reimburses replacement cost of damaged helmet in an accident involving your insured EV bike.

Roadside Assistance Cover

Best Seller

This cover offers 24/7 assistance for breakdowns, flat tyres, battery jump-starts and towing services, ensuring you're never left stranded.

Daily Allowance Benefit

Best Seller

This covers the cost of using an alternate mode of transport while your bike is undergoing repair at a network garage for more than 3 days.

EMI Protection

Best Seller

This add-on covers 3 EMIs on your insured EV bike if it has been repaired at our network garage for more than 30 days.

Emergency Medical Expenses

Best Seller

This add-on covers emergency medical expenses to treat injuries sustained by you or your pillion rider during an accident.

Additional Third-Party Damages Cover

Best Seller

This add-on provides additional financial coverage for third-party liabilities compared to the standard coverage received via our third-party bike insurance.

Additional Personal Accident Cover

Best Seller

This add-on gives extended financial coverage compared to standard financial coverage for medical expenses for the owner-driver.

How to Buy/Renew Electric Bike Insurance Online

Buy Online

Step 1: Go to the IndusInd General Insurance website. Browse our products and click on “Two-Wheeler Insurance”.

Step 2: Enter your E-bike’s registration number and your mobile number to get started.

Step 3: Depending on the make and model of your bike, you will receive a quote.

Step 4: Choose the appropriate policy and EV-specific add-ons to ensure overall protection for your e-bike.

Step 5: Verify the details and complete the payment.

Renew Online

Step 1: Visit the IndusInd General Insurance website and navigate to the Two-Wheeler Insurance Renewal section to begin the renewal process.

Step 2: Provide the information about your two-wheeler, including the registration number, policy number, and expiry date.

Step 3: Submit your name, email address, and any necessary policy details, such as previous claim history and the No Claim Bonus (NCB) if applicable.

Step 4: Review the available renewal options and select the plan that best suits your needs. For extra coverage, add any desired add-ons.

Step 5: Please fill in all required details and proceed to make the payment. Once the payment is confirmed, your electric two-wheeler insurance policy will be renewed instantly.

Why Does Electric Bike Insurance Cost More?

Higher Repair Costs

E-bikes often have complex electrical components, such as batteries and motors, which can be expensive to repair or replace if damaged.

Specialised Parts

Parts used in e-bikes are unique, such as tyres and frames designed to sustain the weight of the motor and battery. These parts typically cost more than standard parts.

Higher Theft Risk

Due to their higher market value, e-bikes are more susceptible to theft. This increases the likelihood of claiming insurance for recovering the loss.

Advanced Technology

E-bikes often come with advanced technology and electronics that are costly to replace, contributing to higher insurance rates.

How to Raise an Electric Bike Insurance Claim?

Step 1: Notify us of your claim by calling +91 22 4890 3009 (paid line) or logging into the IndusInd Self-i App. Alternatively, the network garage can also register a claim on your behalf.
Step 2: Provide all necessary claim documents to the claims department. If your vehicle was stolen, you must also submit an FIR.
Step 3: Once the claim is registered, we will arrange for a surveyor to inspect your vehicle to assess the damage or loss.
Step 4: After the inspection and submission of all documents, our claims team will review and approve your claim.
Step 5: Once approved, your claim will be processed either as a cashless claim at a network garage or as a reimbursement, depending on your choice.

Documents for Electric Bike Insurance Claim at IndusInd General

Registration Certificate (RC)

Copy of your driving licence

Duly filled claim form

Copy of FIR (in case of theft)

Repair/replacement estimate from the garage

Policy documents

Repair bills and payment receipts

Forms 28, 29 and 30, signed by the insured

Copy of proof of identity (PAN card, Aadhar card, passport, etc.)

Address-proof

Factors Affecting Electric Bike Insurance Premium

Bike's Make and Model

The make and model of the electric bike directly impact the insurance premium. If the bike's battery capacity is higher, the premium rates also increase.

Coverage Level

Your coverage requirements determine your premium prices. For example, if you choose third-party EV bike insurance with lower coverage, your premium will also be lower than for a comprehensive plan.

Additional Features or Add-ons

Options like nil depreciation, roadside assistance and helmet cover enhance the coverage but also increase the premium.

Rider’s Profile

Factors such as age, riding experience, and previous claim history can influence insurance costs. A person with a poor claim and riding history is likely to incur a higher premium.

Location

Insurance premiums may vary depending on the location where the bike is primarily used. Urban areas often have higher rates. Additionally, if your location is risk-prone or disaster-prone, your premium will be higher.

Insured Declared Value (IDV)

IDV is the maximum sum amount you get when you claim your electric two-wheeler insurance in case of an accident. Thus, while higher IDV means higher coverage, it also means higher premiums.

How to Raise an Electric Bike Insurance Claim?

Anyone who is above 18 years of age, have completed education up to at least 10th Standard and has a valid Aadhaar card & PAN card. For instance, below are few categories who can be benefited the most.

Step

Go to our online Bike Insurance Premium Calculator.

Step

Select whether you have an existing insurance policy with us.

Step

Enter your bike’s details, such as the registration number, your mobile number and email address.

Step

You will receive an estimate of your premium based on the bike’s make and model. Add EV-specific add-ons and check the modified price based on the added coverage.

Third-Party Electric Two Wheeler Insurance Insurance Premium Calculation

The IRDAI sets the premium prices for electric bike insurance based on your bike's battery capacity. Here are the current rates:

Battery Capacity	Rates (in ₹)
Not exceeding 3 KW	457
Exceeding 3 KW but not exceeding 7 KW	607
Exceeding 7 KW but not exceeding 16 KW	1,161
Exceeding 16 KW	2,383

Reliance’s Heading Second Table

Reliance’s online set up helps ease the process of purchasing a health plan.

Features	Features
Premium starting at	Premium starting at

How to Reduce Electronic Bike Insurance Premium?

Choose a Higher Voluntary Deductible

Opting for a higher voluntary deductible lowers your premium, as you agree to pay more out-of-pocket in case of a claim.

Install Safety Features

Installing anti-theft devices or security systems to your bike can reduce the risk of theft, which in turn reduces your premium.

Maintain a Clean Driving Record

Avoiding accidents and traffic rule violations is an indicator of being a responsible driver. This can reduce your insurance premium prices as you are a low-risk driver.

No-Claim Bonus

Another benefit of driving safely and not claiming your insurance for E-bikes is the accumulation of a no-claim bonus. Depending on the number of claim-free years, you can get up to a 50% discount on the premium prices.

Become a Member of the AAI

Members of the Automobile Association of India (AAI) get discounts on their e-bike insurance premiums.

Opt for Long-Term Insurance Plan

To avoid the hassle of renewing and experiencing stable premium prices, opt for our long-term EV bike insurance plan. This plan offers flexible tenures for enhanced protection.

Traditional Bike Insurance Vs Electric Bike Insurance

Parameters	Traditional Bike Insurance	EV Bike Insurance
Coverage	Traditional insurance plans offer coverage that covers most perils. However, it does not offer protection for EV parts.	This insurance is specifically designed to cover EV bikes and their parts. It gives you coverage for battery damage and motor and charger protection.
Premium Costs	Since the components of a petrol-fueled bike are less expensive, the premium prices are lower than those for e-bike insurance.	These bikes use the latest and most advanced technology, which requires more repairs. Thus, the premium prices are higher.
Specific Add-ons	You do not need specific add-ons to protect your bike. The add-ons for these vehicles are designed to enhance coverage.	To secure coverage for the most important parts of the e-bike, you must opt for the EV-specific add-ons.
Discounts	You can take advantage of our general discounts, such as the NCB or online purchase discounts.	You get special discounts when choosing an e-bike. The government offers these to promote sustainability.

Reliance’s Heading Second Table

Reliance’s online set up helps ease the process of purchasing a health plan.

Features	Features	Features
Premium starting at	Premium starting at	Premium starting at

Tips to Choose the Best Insurance for Electric Bikes

If you are in the process of choosing the best e-bike insurance, these are the factors to look for:

Ensure that the insurer offers a broad range of coverage options to enhance protection against more perils. Especially for EV bikes, verify whether the insurer provides coverage for battery, motor and other important parts of the vehicle.

The best insurance for electric bikes must provide a variety of plans with a varied scope of coverage. Thus, it suits every coverage and budget need at all times.

Ensure that the insurer provides add-on features that cover the unique needs of EV bike owners. Reliance General offers add-ons like Battery Protection Cover, Electric Motor Protect Cover, Charger Cover, Roadside Assistance for breakdowns, etc., to ensure adequate coverage.

The insurer must have a wide network of garages across the country to offer the cashless claims facility seamlessly. We have tie-ups with over 11,000+ cashless garages to provide easy accessibility and quick service.

With extensive features, premium prices should also be affordable so they do not add any burden. Our EV bike insurance premiums start at just ₹19/month, making our plans cost-effective.

Reliance General Insurance

Aapke Protection ka All-rounder

Reliance General Insurance is one of the leading general insurance companies in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, and Travel Insurance, and offers customised solutions to meet the protection needs of each customer.

Bike insurance starting at just ₹19 per month*