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Don't Miss These Factors Before Investing in Your Electronic Two-wheeler Insurance Online Policy

By Vikas Chandra Das
13 October 2022, 10:16 AM

A common misconception about electronic bike insurance online plans is that buying bike insurance is not necessarily required. Another misconception is that it is expensive. Well, both are wrong – Firstly, it has been made compulsory by the Indian Motor Vehicles Act to obtain an two-wheeler insurance online plan for e-bike, without which driving on the road can lead to fines, penalties, and even imprisonment. Secondly, many e-bike insurance deals, offers, and types are available online. You must do your research well, consider some important factors and choose the best electronic bike insurance online plan prudently.

Here we will provide comprehensive details on opting for the best electronic two-wheeler insurance. Considering it as expensive and not compulsory can lead to unwanted hassled. Your electric and technologically advanced two-wheeler is an important asset, and it is wise to protect it from unforeseen financial losses. Any confusion regarding electronic two-wheeler insurance can cause problems and lead to the wrong choice. To ensure you get the best two-wheeler insurance for your e-bike, consider the following factors when purchasing motorcycle insurance:

Important Factors to Consider Before You Purchase Your E-Bike Insurance Online Plan

Here are some of the most important factors that you must consider before you invest in a sound electronic two-wheeler insurance policy:

Types of E-Bike Insurance

There are currently 3 types of e-bike insurance plans as recommended by the Motor Vehicles Act 1988:

  • A third-party electronic bike insurance plan- It is a basic but mandatory plan which covers your bike only for third-party losses. You cannot purchase add-on coverage with this plan. You can settle for this option if you don't use your bike much.
  • Standalone electronic bike insurance online plan – This plan only covers own damages of policyholder and not third-party liabilities. It includes the own damage benefits/coverage of comprehensive two-wheeler insurance policy.
  • Comprehensive two-wheeler insurance online plan for e-bikes – This multi-risk two-wheeler insurance protects your electronic two-wheeler against all risks of theft, damage to the vehicle, etc. It also covers accidents or damage caused to a third party. Comprehensive insurance typically covers natural and man-made disasters such as robberies, riots, tsunami, earthquake,etc. With this plan, you can also purchase additional coverage like add-on with an extra premium.

Coverage vs Premium

Considering the premium is important, you would surely want to go for an e-bike insurance online plan that comes at the lowest premium. But you must not compromise on coverage. If you get better coverage at the same premium amount, you must immediately go for it, even if that means a slight increase in the premium amount.

Discounts Available

Everyone loves discounts and offers. Do your research well, get an insurance quote from 4-5 companies, and settle for the one that offers maximum coverage while also giving you the maximum discount. The discount percentages vary depending on the e-bike insurance plans, premium, and coverage you have chosen.

The Garage Network

Insurance companies have their own set of collaborative network garages. In case of a mishap, you can repair your e-bike from any of the garages listed in the network, and you would not have to pay for anything if covered under the insurance as per the terms and conditions. Opt for an insurer with an extensive garage network in India that can facilitate the settlement of the claim saving you financial burdens.

Insured Declared Value (IDV)

  • You must consider the quoted insured value assessed by the insurer, which is the maximum amount of coverage you will receive when filing a claim. Choose the one that offers the highest IDV and the most comprehensive coverage.

Supplements and Coverage

If you opt for a comprehensive electronic two-wheeler insurance online plan, you may like to opt for add-on coverages. Several are available, like key replacement, engine damage, personal accident, zero depreciation add-on, and many more. Before settling for the online bike insurance plan, you must check the accessibility and cost of add-on coverages, which come at an extra premium.

No Claim Bonus (NCB)

NCB is an add-on bonus that you can claim for all the claim-free years that you have while you retain your e-bike insurance online plan. Some insurers offer a maximum of 50% NCB, which leads to a premium reduction at the time of renewal. So, opt for the insurer that gives you maximum NCB.

Service Excellence

Sometimes it is not about the money but all about customer experience. If you expect good customer support, you must check the previous customer experiences, the availability of 24/7 customer support, and various modes of connecting to support representatives before you purchase your e-bike insurance plan. You would need to contact them for claims, renewals, complaints, and modifications, so this is a critical factor.

Claims Procedure

Identifying the Claim Settlement Ratio (CSR) and assessing the claims experience is critical before choosing the best e-bike insurance online plan. Before paying for your electronic bike insurance, you must check customer experience, reviews, ratings, and feedback.

Ease of Digital Purchase

Pick the best electronic bike insurance online plan which does not necessitate the intervention of intermediaries or agents and, therefore, no commission. It reduces policy costs, involves no paperwork, and translates into cheap premiums. Ensure their official website is well-equipped to purchase and renew electronic bike insurance plans yearly.

Read more -  Top 6 Electric Motorcycles in India That are Worth Your Money


Considering all the above factors, you must make a rational decision while purchasing your electronic bike insurance online plan. Your electronic two-wheelers are expensive assets, and you must acquire the appropriate coverage to protect your vehicle and yourself from unforeseen financial losses. Several insurers offer you various terms and conditions to get electronic two-wheeler insurance online. You should do your research well, compare online e-bike insurance plans, reflect on all the above-mentioned key factors and then decide to purchase the most appropriate two-wheeler online insurance plan.

Read more - What You Need to Know About Two-wheeler Insurance for Your E-Bike


1. Which is the most recommended kind of electronic bike insurance online?

If you want to holistically protect your electronic two-wheeler against third-party liability and damage to the vehicle, plus get the benefits of add-on coverages, it is highly recommended to opt for a comprehensive electronic bike insurance online plan. Several other purposes with two-wheeler e-bike insurance policy are covered under the comprehensive plan, like bike theft, bike losses/damage due to natural or man-made reasons, fire, etc.

2. Which is the most affordable electronic bike insurance online plan?

You can opt for a third-party two-wheeler insurance plan if you want a budgeted e-bike insurance online policy that covers primary liability. It also covers your legal obligation of carrying valid e-bike insurance while on the road. It is highly reasonable as it only provides basic third-party liability, not comprehensive coverage for your bike.

3. Can I get e-bike insurance online coverage for 5 years?

Yes! According to the Supreme Court ruling in September 2018, IRDAI has made 5-year insurance coverage mandatory for all new two-wheelers. This was done to ensure that the maximum number of two-wheeled vehicles is always insured and that accidents from expired policies and uninsured vehicles can be minimized.

4. Is it mandatory to get an electronic two-wheeler insurance online plan?

Yes! As mandated by the Motor Vehicles Act, 1988, it is a legal compulsion to get a minimum of 3rd party liability e-bike insurance coverage for your two-wheeler. In the absence of a valid bike insurance plan, you would have to bear the penalty and compensation as per the traffic rules of India. Adherence to the law and a mandatory e-bike insurance online policy is suggested.

5. Am I allowed to make e-bike insurance online claims only once a year?

No! There is no limitation to the number of claims you make towards your electronic bike insurance, provided the limit is well within your permitted coverage. However, making claims can impact your NCB – No Claims bonus, and repeat claims can lead to a higher premium rate at the time of renewal. So, it is suggested not to make small claims and use your e-bike insurance online claims wisely.

6. What documents are needed to take out electronic two-wheeler insurance online?

Below is the required list of documents:

  • Proof of Identity (e.g. passport, driving licence, aadhaar card, PAN card, etc.)
  • Proof of Address (passport, driver's licence, aadhaar card, PAN card, etc.)
  • Passport photo
  • Driver's licence
  • Electronic Bike Registration Certificate (RC)
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