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 Reliance 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.

Reliance 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.

What is Elect​​​ric Bike Insurance?

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 Electri​​c Bik​​e 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.

Reliance General Electric ​​Bike Insurance Plans

Reliance 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 Reliance General Insurance:

Also Read: Single-Year or Multi-Year Two-wheeler Insurance: Which is Better?

Benefits and Features of Relianc​​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.

Comprehensive Coverage

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

Quick Claims Process

With an easy-to-follow and efficient claim process, Reliance 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.

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.

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.

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.

Easy Online Renewal

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

Minimal Paperwork

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

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.

Cashless Repairs

With a huge network of over 10,000+ garages spread across the country, we offer a seamless cashless repairs facility to speed up the claim process.

Personal Accident Cover

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

Reliance General E-Bike Insura​​nce - Inclusion & Exclusion​

Electric Bike Insurance Cover: Inclusions

• Damages caused to your e-bike by:
• ​Damage to Battery Management System (BMS) or battery due to a power surge while charging

e-Bike Insurance Coverage: Exclusions

• 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.

Refer to the policy wordings by Reliance General Insurance for details on coverage.

Electric Bike Insurance Add-On C​​overs

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:

How to Buy Electric Bike Insurance Online?​

1. Go to the Reliance General Insurance website. Browse our products and click on “Two-Wheeler Insurance”.
   
2. Enter your E-bike’s registration number and your mobile number to get started.
3. Depending on the make and model of your bike, you will receive a quote.
4. Choose the appropriate policy and EV-specific add-ons to ensure overall protection for your e-bike.
5. Verify the details and complete the payment.

How to Renew Electric Bike In​surance Online?

1. Visit the Reliance General Insurance website and navigate to the Two-Wheeler Insurance Renewal section to begin the renewal process.
2. Provide the information about your two-wheeler, including the registration number, policy number, and expiry date.
3. Submit your name, email address, and any necessary policy details, such as previous claim history and the No Claim Bonus (NCB) if applicable.
4. Review the available renewal options and select the plan that best suits your needs. For extra coverage, add any desired add-ons.
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.

If you have any questions, call our helpline number +91 22 4890 3009 for assistance or visit our Self-Help portal.

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.

While these factors result in higher electric bike insurance prices, the government of India offers incentives under the Electric Mobility Promotion Scheme 2024 for making an eco-friendly choice. The IRDAI also offers a 15% discount on premium rates for e-bikes.

How to Raise an Electric Bike Ins​​urance Claim?

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

Track the electric motorbike insurance claim status here.

Documents for Electric Bike Ins​​urance Claim at Reliance 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

Find the detailed list of EV bike insurance claim documents based on the specific claim type.

Factors Affecting Electric Bik​​e 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 Calculate E-Bike Insur​ance Premium?

1. Go to our online Bike Insurance Premium Calculator.
2. Select whether you have an existing insurance policy with us.
3. Enter your bike’s details, such as the registration number, your mobile number and email address.
4. 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:

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 El​ectric Bike Insurance

Tips to Choose the Best Insuranc​​e for Electric Bikes

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

Broad Coverage

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.

Types of Plans

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.

EV-Specific Add-Ons

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.

Network Garages

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 10,000+ cashless garages to provide easy accessibility and quick service.

High Claim Settlement Ratio

While reviewing electric bike insurance online, check for the claim settlement ratios. A good ratio gives you an insight into the company’s claim process and customer-centric approach. We boast a 100% settlement ratio, ensuring quick settlement.

Affordable Premiums

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.

Frequently Asked Questions

General

• Which is the best electric bike in India?

  The best electric bike insurance is the one that offers quick claim settlement, digital buying and renewal processes, a wide range of add-ons, broad coverage and more valuable facilities at affordable prices.

• Does an electric bike need a helmet in India?

  Yes, according to the Ministry of Road Transport and Highways in India, electric bike riders and their pillion riders must wear helmets. This measure prevents severe injuries in case of an unfortunate accident.

Policy

• Do electric bikes need insurance in India?

  Yes, according to the Motor Vehicle Act of 1988, every vehicle owner must have valid third-party insurance for their vehicle, regardless of its type and mode.

• Can I get insurance for my electric scooter?

  Yes. At Reliance General Insurance, we recognise the unique requirements of electric bikes and scooters and offer insurance plans that cater to those needs. To know more about our plans and other details, visit our bike insurance page.
  

Disclaimer: *T&C Apply. For more details on risk factors, terms conditions, brochure, and exclusions, please read the policy wording and CIS carefully before concluding a sale.The total no. of customers insured data is for FY24 and has been picked up from the number of lives insured for Health, Personal Accident, Overseas Travel, Domestic Travel, Workmen Compensation and Crop Insurance, Weather LOB & Fire LOB provided by IRDAI count that is master policy count. Other than these LOBs, we have also provided data for the number of certificates issued.This is the overall claim settlement ratio for FY 2023-24 without claim outstanding at the start of the financial year as per public disclosure of Reliance General Insurance Co. Ltd.The premium mentioned is excluding taxes for the private two-wheeler model TVS Jupiter with cubic capacity of less than 110 cc for a 1 year Own Damage Insurance policy for an IDV of 34,766. Premium used is 233/year as on 1 March 2023 and then converted into a per month basis, which gives us Rs.19/month (233/12).The discount varies basis vehicle specifications, No Claim Bonus discount and Geographical location of the vehicle to be insured. Discounts have been calculated on the basis of the rates prescribed under erstwhile Indian Motor Tariff. Discounts are applicable only to the Own Damage section and discounts may vary as per the vehicle make, model, RTO, and age of the vehicle.