Should You Buy Long-Term Two-Wheeler Insurance for an Electric Scooter?

Therefore, it becomes extremely important for you to purchase two-wheeler insurance, preferably a long-term plan, for a stress-free ride. Let’s discuss this insurance in detail, but before that, here is an insight into electric bikes.

What is an Electric Bike?

An electric bike is a two-wheeler equipped with either a hub motor integrated into a wheel hub or a mid-drive motor mounted at the bike’s crankset. The power of these motors typically ranges from 250W to 750W. Below are the key components of these vehicles:

• Battery: Electric bikes are powered by lithium-ion batteries with capacities ranging from 10Ah to 20Ah. These batteries offer a riding range of 40-120 km per charge.
• Controller: The electronic controller manages the power flow from the battery to the motor. It interprets user input from the throttle and adjusts the motor’s output accordingly.
• Braking System: E-bikes often feature regenerative braking, which converts kinetic energy back into electrical energy, slightly recharging the battery during braking.

When you engage the throttle, the controller activates the motor, which draws power from the battery. The motor then generates torque to rotate the wheels, propelling the bike forward.

Why is Long-Term Insurance for Electric Scooters Important?

Investing in long-term comprehensive electric bike insurance offers multiple benefits, like:

With a long-term plan, you don’t have to keep track of renewal dates and can ride stress-free with continuous coverage for three years for your own damage cover and five years for liability cover.

When you buy electric scooter insurance, the premium is split into a third-party liability coverage premium and an own damage cover. The insurance regulator fixes the premium for the former, which is subject to periodic review and revision. With a long-term plan, you can shield yourself from future price increases.

Riding a two-wheeler without minimum liability cover incurs a significant penalty in India. With single-year insurance, there is a high chance of missing timely renewals, leaving you in violation of traffic rules. Additionally, if you renew the policy after the grace period, the insurer may require a lengthy inspection, potentially leaving your bike uninsured for a few days. However, opting for a long-term plan eliminates these issues.

One of the major downsides of a single-year policy lapse is that you lose the no-claim bonus (NCB). NCB is a reward your insurer offers for skilful riding and making zero claims during the policy year. With the NCB reward, you can reduce the policy premium by 20–50%.

With a long-term plan, you don’t have to worry about losing your NCB. Moreover, many insurers offer higher NCB rewards for multi-year bike insurance.

If your EV collides with another vehicle or an object and is severely damaged, the insurer will take care of the repairs. You can also proceed with cashless repairs by taking your bike to the nearby network garage. You only need to pay the deductible amount in the cashless claim.

There is nothing worse than learning that your electric scooter has been stolen from the parking area of your society or your office. If this happens, the insurer will compensate you with the bike’s current market value while factoring in depreciation.

Suppose your bike hits a pedestrian or motorist or collides with third-party property. In that case, the insurer will cover your financial loss by reimbursing you for your medical bills or the cost of replacing or fixing the damage to the property. If the third party files a legal suit, the charges associated with the advocate and other court fees will also be covered.

Comparing Third-Party Premium for a Single Year and a Long-term Plan

Here is a quick comparison between single-year and multi-year electric bike insurance premiums:

Conclusion

Purchasing long-term comprehensive bike insurance for your electric scooter is a smart financial decision that ensures peace of mind. Beyond being a legal requirement, it provides continuous coverage against unforeseen incidents, saving you from sudden financial burdens.

So, take a step towards securing your EV today and enjoy the freedom of hassle-free rides for years to come.

Note to the reader: This article is part of HT Auto’s paid consumer connect initiative and is independently created by the brand. HT Auto assumes no editorial responsibility for the content, including its accuracy, completeness, or any errors or omissions. Readers are advised to verify all information independently.

First Published Date: 26 Mar 2025, 14:38 PM IST