The rise in global warming and worsening pollution levels are worrying factors. A major reason for global warming is carbon emissions trapped in atmosphere. A very large per cent of all human-produced carbon dioxide emissions come from burning of fossil fuels like coal, natural gas and oil. It is against this background that the emergence of electric vehicles assumes extra significance.

Electric two-wheelers are considered a good long- term choice for commuting. E-bikes have been introduced in India and this move will have a direct impact on the insurance sector. Things are certainly at a nascent stage currently, but it helps to know about electric two-wheeler insurance if you are planning to bring home one. Here is a guide for electric two-wheeler insurance.

Insurance for electric two-wheeler

A lot of e-bikes are available in the high-end market in India and they should be insured as per the legal guidelines. Before you purchase an e-bike, you need to speak to the vehicle dealer about the mandatory requirement of insurance. Compulsory or not, it is advisable to get electric two-wheeler insurance against different losses and damages that may occur while driving on the roads in India.

Types of insurance

Like in fuel-driven vehicles, the plans for electric vehicles are available in three types:

1. Third-party insurance

   The third-party insurance cover will keep you safe from the liabilities that arise out of an injury to the third party or the damage to the third-party property. However, it will not cover the damages to the bike.

2. Own-damage cover

   In own-damage cover, the bike will only be covered for own damages.

3. Comprehensive policy

   The comprehensive insurance cover will provide the highest level of protection. It will provide coverage to the bike in case of own damages, third-party liabilities, and natural and man-made calamities. Unlike the third-party plans, the rate for a comprehensive policy is not regulated by the IRDAI and you will have to contact the insurer for more details on the rates.

Riders for electric bike insurance

Several riders are available for electric bike insurance. Not all insurers may offer them currently, but here are a few that are widely available:

• Zero depreciation
• Roadside assistance
• Pillion rider cover
• No-claim bonus protection
• Invoice protection.

You can choose the rider keeping your requirement and preferences in mind.

Benefits of electric two-wheeler insurance

There are many benefits of insuring your e-bike. You also need to insure the bike keeping the legal requirements and specifications of the bike in mind. Another reason to buy the insurance coverage is that your bike is an asset and it should be financially protected against any losses. If it is insured, you can raise a claim in case of an accident or repairs. It will also ensure peace of mind if there are damages to the bike. Your electric two-wheeler is expensive and there is always the risk of an accident when driving on the city roads. Insurance is an investment you make to keep your bike protected in the long run. Further, the complex technology and mechanical parts used in the vehicle can also lead to failure and it can cost you a huge amount in the repair and replacement.

If you want to know how to buy electric two- wheeler insurance, simply contact the insurance company for complete details about the policy and buy the policy online.

Since e-bikes are not too many in the country and we have not seen mass adoption yet, the market does not have a lot of insurers offering electric two-wheel insurance. You may find insurers that are only offering limited coverage so consider all the options and choose a policy that offers the best at an affordable rate. Compare the features and coverage offered by insurers and then make a decision but always opt for comprehensive coverage to ensure that you are well-protected at all times.

Disclaimer: The above information is indicative in nature. For more details on the risk factor, terms and conditions, please refer to the Sales Brochure and Policy Wordings carefully before concluding a sale.