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Tips to Choose the Best Electric Bike Insurance Company

19 July 2022, 3:47 PM

Most commuters use two-wheelers in India. But the surge in petrol prices leaves bikers with only one option, to stop using their traditional motorbikes. Today, many Indians leave their motorbikes unused in their garage and have moved on to use electric bikes.

Is Electric Bike Insurance Necessary?

The Motor Vehicles Act 1988 Section 146 makes it compulsory for all motor vehicles, including two-wheelers, to have 3rd party bike insurance. However, prudent bike owners use comprehensive bike insurance as a financial shield against any risks or damages to their bikes. But as electric bikes are still in the adoption phase, the general guidelines concerning insurance as per the Motor Vehicles Act do not apply to all of them.

You can ride your electric bikes without insurance if their power does not exceed 250W, and you cannot go faster than 25 kilometres per hour. However, an electric bike in India has a powerful engine and features that can make its owner proud but at a price— it is expensive.

Irrespective of the government order, if your two-wheeler suffers damages, it will be an out-of-pocket expense for you, making it sensible to insure your electric bike. If you are convinced to buy bike insurance online, this article explains the pointers to help select the right one from the many bike insurance companies.

Guidelines to Choose the Best Electric Bike Insurance Company

As electric bikes are new entrants to the Indian market, electric bike insurance is not popular. But as these bikes ply at a slow speed, the cost of the electric bike insurance policy is cheaper than traditional two-wheeler insurance. At the same time, third-party bike insurance is mandatory for specific electric bikes.

But as the 3rd party bike insurance only covers losses to the 3rd party from your electric bike, it is better to opt for comprehensive bike insurance and protect your e-bike against multiple risks. Here are tips to help you decide on the best bike insurance company for your electric bike.

Buy Bike Insurance Online

When buying electric bike insurance online, you eliminate the need to visit multiple insurance company offices. You shop without stepping out of your house and save time, energy and money. Online shopping does not let a person who gains from your purchase influence you. The site states the bike insurance policy's features explicitly, and you can choose according to your requirements. You can also pay for it online and receive the policy by email.

Read more - Make Your Bike Smart and Eco-Friendly with These Simple Hacks

Compare Bike Insurance

Bikers make one big mistake while buying an electric bike insurance policy. They check the cost and choose to buy the one that offers the lowest price. However, the most affordable two-wheeler insurance may not provide the cover you may need. 

While comparing e-bike insurance, don't focus on just a few areas. Compare all factors such as premium, inclusive add-ons and covers, deductibles, claim settlement ratio(CSR), and the company's network of garages. Don't forget to check the exclusions either.

Go for Higher Insured Declared Value (IDV)

Higher IDV in bike insurance offers enhanced protection at a higher premium. You can claim a higher compensation if your e-bike suffers total damage. If the e-bike explodes or catches fire, the vehicle will be extensively damaged, and bike insurance with a lower IDV may not compensate for such losses fully. So, stitch a deal with the company that allows you greater IDV for a price you can afford.

In-depth Research of the Chosen Electric Bike Insurance Company

Depending on the results of your comparison of various electric bike insurance companies, list the ones that best suit your requirements. The most crucial factor before deciding on the best bike insurance company is checking its CSR. The Insurance Regulatory and Development Authority of India (IRDAI) has CSR information about all bike insurance companies. 

Ascertain the company's financial strength by checking its growth by its accumulation of assets and market performance to ensure timely settlement of claims. Also, read customer reviews to guide your choice.

Bike Insurance Covers or Add-ons

When buying bike insurance online, check if the bike insurance company includes or excludes insurance covers or add-ons. The bike insurance price consists of the cost of such covers or add-ons such as zero dep insurance for bikes, personal accident cover, etc.

As a bike owner, you should know what the insurance package contains and excludes. If you are unaware of exclusions in the bike insurance policy package, you will have to bear the losses when a bike insurance claim arises, as the bike insurance company will not cover it. Choose the company that covers maximum stuff and offers multiple add-ons.

Excellent Customer Services

Call the customer service of the bike insurance company to see how they answer your queries. You have found the best bike insurance company if they are courteous and happy to answer your questions with consistent replies. However, if they don't answer calls 24*7, take much time in answering your queries, give your hurried responses or seem irritated, take off such insurance providers from your list of prospects.

Accessible Bike Insurance Company 

You can meet with an accident or need assistance from your insurance provider at any time on any day, which is why you need a service provider which is accessible anytime, even at night. While choosing a bike insurance company, choose one that offers 24*7 assistance and is known to offer online assistance and settle claims quickly.


If you have bought yourself an electric bike, you must also purchase an insurance policy. You can only ride e-bikes with specific features on Indian roads without a  3rd party bike insurance. 

Choosing comprehensive bike insurance with additional bike insurance covers or add-ons from the best bike insurance company for total e-bike insurance cover is advisable. Read the article for guidance in selecting the best bike insurance company as your insurance provider.

Read more - Bike Insurance Misconceptions You Must Be Aware of


1. How do I know if my electric bike needs insurance?

Third-party bike insurance is mandatory for electric bikes that exceed 250W in power and 25 kilometres in speed limit per hour. 

2. How can I buy electric bike insurance at low premiums?

You can either visit individual official websites of insurance companies or go to sites that give you well-written articles on comparative costs to find the bike insurance that suits your requirements.

3. Is it advisable to buy electric bike insurance online?

It is safe to buy electric bikes online as you have the opportunity to check all the features of many bike insurance companies and select the one that best suits your needs.

4. What is 3rd party insurance for an e-bike?

When your e-bike causes extensive damage to third-party property, it could cost you a lot of money, and third-party insurance covers such damages.

5. How to claim e-bike insurance?

Contact your insurance provider if you damage your e-bike in an accident. The company representative will evaluate the damage and report the same to the insurer, which then issues a claim registration number against it will settle your repair expenses.

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