With more and more people opting for environment-friendly solutions for daily life needs, increased adoption of electric scooters comes as no surprise. Electric scooters, or e-bikes, are two-wheeled plug-in motor vehicles that use stored electricity to run the electric motor. They not only reduce your dependency on fossil fuels but are the answer to reducing your carbon footprint. Globally, electric scooters are proving to be a better and more sustainable option as compared to traditional fuel-run scooters. India too has accepted electric scooters as the future of personal transport.
The Indian auto sector is witnessing a boom in the number of e-bikes hitting the road. The latest models of electric scooters are known to have amazing features that make them even more attractive to buyers. However, bike insurance is still a must-have irrespective of the kind of scooter-traditional or e-bike you own.
Importance of Insuring Your Electric Scooter
The Motor Vehicle Act of 1988 mandates every two-wheeler owner to have third-party insurance, without which you must not take your vehicle out on the road. Not complying with the regulation can land you in trouble. In the case of electric scooters, the government is yet to announce specific rules and regulations as they are still in the adoption phase in the country.
Therefore, all two-wheeler insurance rules do not apply to e-bikes. Since not all electric scooters are categorised under motor vehicles, it is still not compulsory for electric scooter owners to have third-party cover. However, that does not mean electric scooters do not need proper insurance cover. An electric scooter is a prized possession that needs to be protected just like you would safeguard any other valuable. So, the best option is to buy comprehensive bike insurance such that there are no unexpected and sudden financial expenses on the owner. Also, with road accidents becoming increasingly common, it is very important to have insurance that covers your vehicle repairs as well as the medical expenses of the rider.
A comprehensive bike insurance cover can help you in case of road accidents, damage due to natural and manmade disasters, and theft. Most insurance companies are providing coverage against electric scooters. With a bit of research, you can easily find an insurance policy that suits your e-bike in the best way.
Buying Insurance For Your Electric Scooter
Since there are still no specific regulations set for electric scooters, the present insurance process is the same as for other two-wheelers. People seeking insurance coverage for their electric bikes have three types of insurance policy options to choose from. They are:
- Third-party Insurance Cover: The third-party bike insurance policy covers all the third-party liabilities that occur due to a road accident involving the insured bike. This includes coverage for the third-party vehicle, third-party property, and damage to the third-party person too.
- Own Damage Insurance Cover: This insurance policy provides coverage against the damages that are caused to your electric scooter due to road accidents, natural causes, manmade causes, and loss due to theft.
- Comprehensive Coverage: This insurance policy offers the maximum range of cover as it includes damages to the third party as well as own damage. Comprehensive coverage ensures thorough protection of the bike and the rider.
Nowadays, you can search, find and apply for an insurance policy of your choice online with a few clicks of the button. Most insurance companies have an online presence and you can go through their products and services on their website. You can even apply for insurance there. However, before you make the payment ensure you have chosen the right insurance policy. This holds applicable even when you renew bike insurance online. Here are some things to keep in mind before buying a two-wheeler insurance cover for your electric scooter:
- Research Your Needs: The first thing that you need to do is research the coverages you want for your e-bike. If you want complete coverage or protection then opt for a comprehensive policy. However, if you feel that you live in a safe and isolated area without much risk to your bike, then go for an own damage insurance coverage as it will protect both third-party and the rider in case of a mishap.
- Compare Policies Online: While researching insurance online, you will come across numerous policy options with many insurance companies. The only way to find the best option for your e-bike is by comparing shortlisted policies. When you compare, you can be confident about your decision of buying a particular insurance policy.
- Ask for Quotes: Shortlisting the best policies that suit your need is not enough. There is still more work to do. Ask insurance companies to give you quotes for policies you have chosen. You can easily get quotes by sharing some basic information regarding yourself and your bike with the company. After obtaining insurance quotes compare them and choose the one that suits you the best.
- Pay Online: After you have finalised your insurance policy, make the payment online and you are good to go. On successful completion of the payment, the insurance company will share all the policy-related documents in your email.
Documents Needed for Insuring Electric Scooter
The process of obtaining insurance for your electric scooter is the same as that for a regular two-wheeler. Therefore, the documents needed are also the same. Most insurance companies ask for identity proof, address proof and two passport-sized photographs. Note, the passport size photographs should be recent ones.
As we know, fossil fuel and other non-renewable natural resources are declining at a fast rate. Plus, the emissions due to motor vehicles are a big problem, especially in India where environmental pollution is at its peak. Therefore, increased adoption and promotion of electric vehicles is much needed. If you have already embraced the technology and are doing your bit in saving the environment, then make sure you buy a suitable insurance policy to protect your bike and have a safe and stress-free riding experience.