Electric Bike Insurance Vs. Traditional Bike Insurance
Electric Bike Insurance Vs. Traditional Bike Insurance
Published on November 15, 2022. EST READ TIME: 3 minutes
![Electric Bike Insurance Vs. Traditional Bike Insurance Electric Bike Insurance Vs. Traditional Bike Insurance](/images/default-source/two-wheeler-insurance-page-images/accessories-for-electric-scooter.jpg)
Bike insurance is similar in both cases, whether electric or traditional, and the main goal is to protect you from injury to your bike or third-party liabilities. Additionally, you get protection from total loss, man-made and natural calamities, theft, etc.
What Is The Importance of Two-Wheeler Insurance for E-Bikes?
You can consider an electric bike less risky as its speed is restricted. However, you can never foresee any tragedy that might occur while riding. It is essential to have bike insurance to protect you and your bike from various damages and losses that might occur due to accidents. It is the same for both electric and traditional bikes. Most bike owners in India do not consider it necessary because they do not receive any benefits upfront. You can get bike insurance to save yourself from unforeseen tragedies and burning a hole in your pocket. If you do not have bike insurance, you will have to bear all the costs of damages. It can become quite costly sometimes, and you can protect yourself by getting bike insurance.
Benefits of E-Bike Insurance
Let us discuss some benefits of getting e-bike insurance.
1. Cost Efficient
E-bikes work on digital platforms, and there are no intermediaries, reducing operating expenses. E-bike owners get low-cost insurance to recover savings.
2. Legalities
An E-bike has to be insured with third-party bike insurance , and one could face a fine of up to Rs. 4,000 or even jail if they do not insure their E-bike.
3. Financial Cover
It depends on the terms and conditions, but comprehensive bike insurance provides financial cover, whether for own damage or third-party liability.
Importance of Insurance for Electric Bikes
All two-wheelers are insured with two-wheeler insurance, and there are various types of insurance like own damage, comprehensive, and third-party insurance. The difference between the types of policies lies in the coverage they offer. E-bikes can be expensive to own due to all their electrical components. Not insuring your e-bike can potentially burn a big hole in your pocket if you experience any unforeseen tragedy. E-bike insurances are easily available, and you must ensure to get one to save yourself money and from liabilities. The electric components in E-bikes can be costly to repair, and not having bike insurance for your E-bike can be very expensive if you face any repairs or total loss. The battery is one of the most expensive parts of the E-bike and can burn a big hole in your pocket if it gets damaged. Insurance for your E-bike will ensure you do not have to spend a lot of money as your insurance provider will cover the repair or damage costs.
Benefits of Insurance for Electric Bikes
Here are a few benefits of insurance for electric bikes:
1. Personal Opinion
Depending on your needs and comfort with the insurance agent or company, you can choose any insurance policy. Many companies offer insurance, and you have many options to choose the one most suitable for you.
2. Plan Comparisons
You can compare many bike insurance policies and see their inclusions, exclusions, and features. You can purchase or renew insurance policies online and save time, money, and resources. You can make an educated decision after ensuring all your needs are covered.
3. Efficient
It is convenient and efficient to purchase or renew your bike insurance online. You can buy or renew your bike insurance from the comfort of your home or office, and you don't need to go anywhere. It takes much less time and paperwork, and you get the best services.
Conclusion
Bike insurance serves as a backup for unforeseen emergencies like accidents. It helps in keeping you financially secure and free from liabilities. However, the insurance does not always cover the entire bike. You might have to spend some money on repairs depending on the situation. Keeping everything in mind, having bike insurance has more benefits than cons. An E-bike is environment friendly compared to a traditional bike. E-bikes do not emit any smoke or harmful gases that harm the environment. A huge reason behind global warming is vehicles emitting gases and smoke. E-bikes work on battery and are a great alternative to use. E-bikes work on batteries, and you do not have to keep refueling them like traditional bikes. The costs of oils are touching the sky, and owning traditional bikes can be very expensive. Having insurance for your bikes is the smartest thing you can do being a bike owner. Insurance for both traditional and E-bike is typically the same, and you get the same types of coverage in both.
Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.
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