Insurance for electric scooters: Insurance policy will have to be bought for electric scooters too, know how to get better coverage.

Insurance for electric scooters: The attraction of people towards electric scooters and bikes is increasing, so the importance of their insurance has also increased. In such a situation, it has become very important to know for the people of electric scooter buyer what coverage should be taken for future.

Insurance for electric scooters

The demand for electric vehicles among the people is increasing rapidly in the country and many new companies are taking interest including established companies are also coming forward in this segment to make future bright. Talking about two-wheeler electric eco-friendly vehicles, according to a report by CII-KPMG, by 2030, 25-35 percent of two-wheelers across the country will be electric. Recently, Ola a big brand of India has introduced the Made in India Electric Scooter. The Ola announced formal launch is yet to come but the registration for it has started. Before Ola, companies like Hero, Honda, At Energy, Bajaj have already launched electric vehicles and people like them.

According to the increasing attraction of people towards electric scooters and bikes, the importance of their insurance has also increased and become very important. In such a situation, it has become very important for the people who loves to buy electric scooter to know what coverage should be taken for electric bikes/scooters.

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Insurance similar to non-electric vehicles

According to Mahayavanshi, co-founder of insurtech company Turtlemint, all electric bikes/scooters can be insured under the same motor insurance plan as for third-party or non-electric two-wheelers with comprehensive coverage. Third Party Coverage is required to provide coverage for the death, injury or damage to the property under the Motor Vehicles Act, 1988. Keep in mind here that under Comprehensive coverage, the third party coverage of five years but only one year coverage is available for itself, i.e., the third party coverage will continue for five years but every year for losses. The policy will have to be renewed again at the End of the policy.

Total coverage

  • When you buy a new electric bike/scooter, then take third party coverage for five years at least, which is also mandatory. Under the third party, a cover of Rs 7.5 lakh is available for property damage. Unlimited coverage is available for death and bodily damage.
  • Customers should have to take a comprehensive plan so that in addition to third party coverage, electric bikes/scooters can be covered by natural calamities like flood, earthquake, cyclone or fire; humanitarian calamities like explosions, riots; Coverage can be obtained against theft of the vehicle and any damage caused during transportation by road, train, air or water.
Insurance for electric scooters: Insurance policy will haveto be bought for electric scooters

Add ons

  • Zero Depreciation Add-on: Under this, depreciation is not done at the time of claim of the insurance and the claim pay-out increases.
  • Roadside Assistance Add-on: Under this, 24*7 help will be provided at any time, i.e., in case of any problem in the vehicle.
  • NCB Protection Add-on: Under this, no claim discount will be available even if the claim is taken.
  • Return to Invoice (RTI) add-on: Under this, the invoice value will be paid in case of complete loss or theft of the electric scooter/ vehicle.
  • Engine and Gear Box Protection Add-on: It covers damage to the engine or gear box due to reasons like flood or rain.

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