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What is Electric Bike Insurance?

With climate change being an ever-present threat, the need for electric vehicles has increased. This is because they release zero emissions and allow for eco-friendly travel. In India, electric bikes have gained popularity as riders like the fact that they are more affordable than cars and allow for sustainable living patterns.


If you happen to own - or seek to own - an electric bike, it is important that you also own a valid electric bike insurance plan to complement it. Possession of third-party liability e-bike insurance is a legal requirement that is laid out in the Motor Vehicle Act, 1988 of India.


This insurance plan serves as an agreement between yourself and an insurance company. This insurer is responsible for covering any damages that your two-wheeler causes to a third party. If you opt for a comprehensive plan, in addition to third-party liability coverage, any damage caused to yourself as well as your vehicle will be provided with coverage. Damage here may be caused due to a natural disaster, accident or theft. This coverage is provided in lieu of the premium you pay.

Types of Electric Bike Insurance Plans

The insurance of an electric scooter is important as it helps offset financial costs that may arise in case of an accident. Listed below are the two different types of plans that you can avail of as an e-bike owner.

Third-party Insurance Plan

This is the most rudimentary form of insurance for e-bikes. Plans of this type provide coverage for the third party in case they are injured, or their vehicle is damaged due to an accident involving your insured two-wheeler. In such a scenario, if you or your electric bike sustain any injuries, loss or damage, you will not be provided with coverage for yourself. This level of insurance is deemed mandatory for all vehicles wishing to operate on Indian roads.


Read More: Third-Party Bike Insurance

Comprehensive Two-wheeler Insurance

Provided your pocket allows for such a plan, you should consider availing it. This is because in addition to providing coverage for a third party in case of an accident, loss or theft, you and your electric bike are provided with coverage as well. This holds true if you have a personal accident and crash your vehicle.

Benefits of Electric Bike Insurance

Electric motorcycle insurance is most beneficial as it provides you with a number of advantages. Some of these have been examined below.

Provides Financial Support

With valid electric bike insurance cover, expenses that may arise owing to the damage or loss of your two-wheeler are taken care of by your insurance provider.

Personal Accident Coverage

If you have availed yourself of a comprehensive e-bike insurance plan, you needn’t worry about expenses associated with a personal accident. This is because they will be accounted for by your insurance provider.

No Claim Bonus

Depending on the kind of policy you opt for, you can avail the benefits associated with a no claim bonus in bike insurance. This bonus serves as a kind of reward for using your vehicle with responsibility.

Legal Protection

Third party liability coverage, which happens to be mandatory in India, is fulfilled under a third party bike insurance plan as well as by comprehensive plans.

Peace of Mind –

By owning electric bike insurance in India, you are provided with peace of mind while using your vehicle. This is because you no longer need to worry about the expenses that might arise in the event that your vehicle (or someone else’s) is damaged, lost or stolen as coverage is provided for the same.

E-bike Insurance Inclusions & Exclusions

Electric bike insurance coverage includes the following considerations-


  • Coverage is provided for the repair and replacement of parts of your electric bike that have been damaged.

  • In case, natural calamities cause damage or loss to your two-wheeler, coverage is provided.

  • If the insured vehicle is involved in a personal accident, coverage will be provided for the same.

  • Accidents that involve third parties will be provided with coverage.

  • In case your electric bike is damaged owing to a strike, riot, theft, or fire, you will be provided with coverage to offset expenses associated with the same.

  • Road accidents that involve your electric bike and cause damage to it will be covered.

Even the best electric bike insurance plans, however, have certain exclusions. These have been mentioned below-


  • Damage incurred by an insured electric bike that is owed to a war-like situation is not provided with coverage.

  • Any damage sustained while driving your electric bike when your electric bike’s insurance policy isn’t valid, or your licence isn’t valid won’t be considered for coverage.

  • The regular wear and tear associated with your insured vehicle being used will not be covered.

  • If your insured vehicle sustains any electrical or mechanical breakdowns of its own accord, expenses arising from the same will not be covered.

  • If your insured two-wheeler sustains any damage or is involved in an accident owing to it being driven under the influence of intoxicants or because of speeding, coverage will not be provided.

E-bike Insurance Add-On Covers

When you decide to buy e-bike insurance, you will be given the opportunity to enhance your coverage by availing of optional add-ons. Also called riders, these are designed to further the scope of your coverage. Listed below are some of the popular add-ons available for most electric bike insurance plans.

Personal Accident Cover

With this rider, financial coverage is provided in the event that the rider of the insured vehicle sustains a personal accident resulting in injury, total or partial disability, or death.

No Claim Bonus

This refers to the discount that is applied to a premium in the event that the insured vehicle’s owner doesn’t make a single claim over the course of the term of the policy being active.


Read More: NCB in Bike Insurance

Engine Protection Cover

This add-on provides coverage for damages sustained by the engine of the vehicle. These damages may arise due to lubricating oils leaking, water ingression or engine failure.

Return to Invoice Cover

Here, compensation is provided in the event that the vehicle is stolen or beyond repair. This compensation amounts to the same value as that of the car’s invoice value i.e., the original value of the two-wheeler when it was first bought by the owner.

How to Buy Electric Bike Insurance

If you are in the market to buy electric bike insurance, simply follow the steps provided below in order to avail of a plan.


Step 1. Head on over to the insurer’s website and key in your log in details.


Step 2. Fill out an application form with your personal details.


Step 3. Select an e-bike insurance plan that works best for you and is in line with your specifications.


Step 4. Pay the premium applicable to this plan such that your policy can be issued to you immediately after payment.

How to Calculate Electric Bike Insurance Premium

Are you curious to learn how much an e-bike insurance plan costs? If so, you can take advantage of the premium calculator available on the insurance company’s website. Follow the steps mentioned below in order to calculate what your premium will amount to.


Step 1. Fill out the registration number of your electric bike along with your registered mobile number that you used to avail of your previous policy.


Step 2. Key out details pertaining to your two-wheeler such as those relevant to its registration, make and model.


Step 3. Proceed by selecting either a third-party plan or else a comprehensive plan.


Step 4. Prior to submitting these details, make sure you have added your personal details.


Step 5. After submitting the aforementioned details, your bike insurance premium will be calculated and be made visible on your screen.

Steps to Renew Electric Bike Insurance

If you would like to renew your electric bike insurance policy, follow the steps mentioned below.


Step 1. Visit the insurance company’s website and key out details pertaining to your previous policy.


Step 2. Fill out details pertaining to your bike as well as personal information.


Step 3. If there are any updates relating to your premium, they will be reflected on your screen.


Step 4. Transfer the premium amount asked of you in order to complete the process.


Now, your bike insurance policy will be activated in no time.


While attempting to renew your electric bike insurance plan online, you will require the following documents.


  • A passport size photograph that is recent

  • A valid driver’s licence and registration certificate

  • Details pertaining to your previous policy

  • Information pertaining to your bank account

  • Proof of address

  • Proof of identity

Read More: Bike Insurance Renewal

e-Bike Insurance Claim Process

If you would like to make a claim that is relevant to your bike insurance plan, follow the steps mentioned below.


Step 1. Visit the insurance company’s website.


Step 2. After you log in, head on over to the insurance page relevant to two-wheelers and select the “register claim” button.


Step 3. Provided your claim is approved, your electric bike will be picked up for repair work.


Step 4. After repairs have been made, your electric bike will be delivered to your address.


Step 5. Now, your bill will be settled via the insurance company.


While applying for a claim relevant to your electric bike insurance plan online, you will require the following documents.


  • Details relating to your two-wheeler

  • Details relating to your insurer

  • Your bike insurance plan document

  • In case of theft, a FIR

  • Details relating to the incident

  • In case of reimbursement claims, original receipts of vehicle repair

Read More: Bike Insurance Claim Process


While electric scooter insurance prices may vary depending upon the plan selected, their value cannot be diminished. Apart from being a legal requirement, such plans provide financial protection in the event that you have an accident involving your vehicle. 

Check Out Bike Insurance Plans Available at Finserv MARKETS

FAQs on Electric Bike Insurance

  • ✔️Is it mandatory to insure my electric bike?

    Yes. As per the Motor Vehicles Act, you, as an electric bike owner, must mandatorily have at least a third-party liability cover to be able to ride your vehicle anywhere in India.

  • ✔️Briefly mention some of the popular add-ons that can be availed to enhance a two-wheeler insurance policy?

    Listed below are some of the popular add-ons that can be availed to enhance a two-wheeler insurance policy-

    • Personal accident cover

    • No-claim bonus

    • Engine protection cover

    • Return to invoice cover

  • ✔️Briefly mention some of the benefits associated with availing a two-wheeler insurance policy.

    Some of the benefits associated with availing a two-wheeler insurance policy include the following.

    • Provides financial support

    • Personal accident coverage

    • No claim bonus

    • Legal protection

    • Peace of mind

  • ✔️What are the names of the two different types of bike insurance plans available in the market today?

    The names of the two different types of bike insurance plans available in the market today are as follows.

    1. Third-party insurance plan

    2. Comprehensive two-wheeler insurance

  • ✔️What are the documents you will need to renew a bike insurance plan online?

    Listed below are the documents you will need to renew a bike insurance plan online-


    • A recent passport size photograph

    • A valid driver’s licence and registration certificate

    • Details pertaining to your previous policy

    • Information pertaining to your bank account

    • Proof of address

    • Proof of identity

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