The arrival of e-bikes in India is reshaping the country's transportation scene significantly. These eco-friendly and innovative vehicles are making a big impact on the way people get around. In recent times, electric bikes have gained popularity, providing a sustainable and efficient option compared to traditional transportation methods. This introduction goes hand in hand with India's increased emphasis on preserving the environment and promoting clean, energy-efficient technology.
In this aspect, electric bikes are more than just a way to get from one place to another. They represent a move toward greener and more sustainable living in India, benefitting both cities and communities.
Why E-Bike Insurance Matters?
You should get insurance for your electric vehicle, just like you would for regular vehicles that run on different fuels -
It is a Mandatory Requirement You should be aware that driving an e-bike in public places without a valid motor insurance policy is against the law. Electric two-wheelers with power >250W or speed >25 km/h are classified as motor vehicles and require insurance under the Motor Vehicles Act. However, low-speed electric bikes (below these thresholds) are exempt from mandatory insurance. According to the Motor Vehicles Act, there are strict consequences for this offence. As per government regulations, it is mandatory to have at least a third-party insurance policy available for your vehicle. So, ensure that you have proper e-bike insurance coverage to avoid these legal consequences.
It Offers Financial Protection While buying an e-bike is expensive, repairing it after a major accident can also come with a hefty cost. This is where a motor insurance policy can help you. It serves as a financial safety net protecting your finances against accidents, theft, or significant damage incurred by your vehicle.
It Covers a Wide Range of Risks Motor insurance is pretty versatile when it comes to risk coverage. It usually covers a wide variety of contingencies, including theft, accidents, man-made incidents, natural disasters, etc. to ensure that you are well-protected whatever happens! Also, it does not just protect your vehicle; it also acts as a financial safeguard for you if you accidentally cause damage or financial losses to someone else or their property. Imagine you get into an accident with a wealthy person on the road, and the court orders you to pay for the damages. If you have electric bike insurance, your third-party coverage will handle these expenses for you.
Types of E-Bike Insurance Coverage
There are three main types of E-Bike Insurance coverage -
E-Bike Comprehensive Insurance Policy Comprehensive motor insurance offers complete and enhanced coverage. It not only covers damages to your vehicle but also safeguards you against third-party liabilities. In other words, it provides protection for both your vehicle and any harm it may cause to a third party or their property.
E-Bike Third-Party Insurance Policy Third-party motor insurance is the fundamental and mandatory coverage required by law when driving an e-bike in India. It serves as a legal requirement and covers any injuries or losses caused to a third party or their property involving your vehicle.
E-Bike Standalone Own-Damage Insurance Cover The standalone own-damage motor insurance policy covers the damages sustained by your own vehicle due to situations like fire, rain, theft, etc. If you file a claim under this policy, it will provide compensation to cover the costs of repairing your vehicle.
Factors to Consider When Choosing E-Bike Insurance
Keep these key factors in mind before buying an Electric Bike Insurance policy -
Type of Coverage
First, decide what type of coverage suits you best - third-party liability, comprehensive, or a mix of both. You should remember that in India it is mandated by law to have at least third-party coverage, but comprehensive insurance gives you extra protection, even for e-bike damage.
Choosing Your Insurer
Once you decide on your coverage, you can then pick a trustworthy insurance company with a strong track record. Read customer reviews and gather quotes from various insurers to find the suitable one.
Understanding the Policy
It is very crucial to understand your policy’s terms and conditions. This includes coverage limits, deductibles, premium rates, etc. It is important to know what is included and excluded in your policy. You can compare premiums from different insurers to match your budget.
Streamlined Claim Process
It is also essential to examine how the insurance company handles claims. A smooth and efficient process ensures that you get your compensation quickly if something goes wrong.
Accessories Coverage
If you have customised your e-bike with extra gear or modifications, make sure your e-bike insurance plan includes these additions. Some insurers offer the option to add coverage for accessories.
No-Claim Bonus (NCB)
You should also make it a point to ask about the no-claim bonus (NCB) provided by your insurance company. This bonus is a discount given on your premium for every year you don't file a claim. Accumulating NCB can lead to substantial savings on your premiums over time.
Personal Accident Protection
You can also consider whether you want to include personal accident coverage for both yourself and other riders of your electric bike. This offers financial security in the event of injuries or fatalities resulting from accidents.
Theft Protection
Given the risk of theft, especially in urban areas, you can also add theft coverage to your policy. This safeguard ensures that your e-bike is protected in case it gets stolen.
Policy Exclusions
Make sure you understand what is not covered by your policy. This includes damages resulting from illegal activities, racing, riding without a valid licence, etc.
Renewal Procedures
You should familiarise yourself with the policy renewal process. Timely renewals are crucial to maintaining uninterrupted coverage, while late renewals could leave you with a policy lapse.
Geographical Restrictions
It is important to examine your policy for any geographical limitations or boundaries. Some policies may not provide coverage if you use your e-bike outside a specific area or territory.
Optional Add-Ons
You also have the option to explore extra options like roadside assistance, zero depreciation, etc. that can enhance your insurance protection.
Customer Service Quality
It is vital to assess the quality of customer support offered by your insurer. This is because you should have a responsive and effective insurer to assist you when needed.
Compliance with Legal Standards
Ensure that your insurance policy aligns with all the legal requirements for electric bike insurance in India.
Discounts
You can check with your insurer if there are discounts or special offers that apply to your policy. There may be discounts for anti-theft devices, membership in an auto association, or other factors.
Steps to Buy E-Bike Insurance
You can buy motor insurance for your e-bike either online or offline. The steps you need to follow are similar to that of general bike insurance -
Buying insurance for your e-bike online is a very simple process and here are the steps you need to follow -
You can either visit the insurance company's website or go to a web aggregator or broker's website.
Once you are on the website, select the 'Two-Wheeler' option.
You will be prompted to enter your vehicle number, after which, all your vehicle details will be automatically retrieved.
Verify that all the details are accurate before proceeding ahead.
If you don't remember your vehicle number or the details are not automatically captured, you will need to provide information like the place of registration, make and model, registration year, etc.
After entering the necessary details, you will be directed to a page where you can see insurance quotes for your vehicle.
Ensure that the details you enter about your vehicle are accurate and check whether the fuel type is mentioned as electric.
Review the details and select the desired coverage for your vehicle and proceed for payment.
Once the payment is made, the insurer will send the policy to you via mail.
If you prefer not to purchase the policy online, you also have the option to buy it offline. This can be done by visiting either the insurance company's office or an agent's office by following these steps -
At the office, you will need to provide your personal details and information about your vehicle. The agent will then guide you through the process of purchasing the policy.
When dealing with them, you should ensure to communicate your specific requirements so that the suggested plan aligns with your needs.
Before finalising the purchase and making the payment, you should carefully review all the details and fully understand the terms and conditions.
Once the payment is complete, your agent will assist you in obtaining the physical copy of the policy documents.
How to Buy or Renew E-Bike Insurance from SMC Insurance?
Getting e-bike insurance with SMC Insurance doesn’t take much time. Just follow these steps:
Choose ‘Two-Wheeler Insurance’, enter your bike number and select ‘View Quotes’.
Enter your electric bike details – like the brand, model, variant and your RTO location.
Get a quote instantly. The premium and coverage details pop up right away.
Pick the plan that suits you. You’ll see multiple options with different add-ons.
Fill in a few personal details, upload any required documents, and make the payment online.
For renewals, the process is nearly the same. Just enter your existing policy details or vehicle number, and SMC pulls up your policy. Review it, update if needed, and renew in a few clicks.
Without much paperwork and running around you have a quick, smooth process from start to finish.
Why Purchase E-Bike Insurance from SMC Insurance?
It’s not just about fulfilling a legal requirement. A good insurance policy saves you time, money, and stress. Here’s what SMC brings to the table:
Easy Comparison: You can check plans from multiple insurers in one place. No need to visit five websites.
Helpful Support: If you get stuck anywhere in between the process of buying or renewing your electric bike insurance, a dedicated team supports you throughout.
Affordable Options: SMC gives you competitive quotes, including discounts you might miss elsewhere.
Coverage that Fits: Basic or comprehensive, theft or accidental damage, pick what you need. Skip what you don’t.
Renewal Reminders: We get it. In our busy lives, we all forget the date. But the team keeps you posted, so your coverage doesn’t lapse.
And everything’s digital so you can do it all from your phone or laptop, wherever you are.
What is Covered and Not Covered in Electric Bike Insurance?
Electric bike insurance takes care of more than just scratches and dents. It’s built to help you out when things go wrong, big or small. Here’s what it usually covers:
Accidental damage to your e-bike
Theft or total loss of the vehicle
Fire, explosion, or natural disasters like floods and earthquakes
Third-party liabilities – if your bike damages someone else’s vehicle or injures a person
Man-made incidents like riots or vandalism
Personal accident cover for the owner-rider (as per policy terms)
But like every policy, it has its limits. Here’s what’s not covered:
Normal wear and tear from daily use
Mechanical or electrical breakdowns not caused by an accident
Riding without a valid driving license
Drunk driving or drug influence
Using the bike for racing or commercial use (unless covered by a special plan)
Damage outside geographical limits of the policy
Reading the fine print helps, but if you're unsure, SMC’s team makes it easy to get answers.
E-Bike Insurance Add-On Covers
Add-ons let you tweak your insurance plan to suit your ride. They’re optional, but useful, especially if you want better protection. Some popular ones include:
Zero Depreciation Cover This keeps depreciation from eating into your claim amount. So, you get the full cost of parts replaced, not just the depreciated value.
Roadside Assistance Battery runs out or the bike breaks down mid-way? This add-on sends help to you, fast.
Return to Invoice If your bike gets stolen or completely damaged, this cover helps you get the original invoice value and not just the current market value.
Engine Protection Water damage or oil leaks can get expensive. This cover helps with repair costs, which aren’t usually included in a standard policy.
Personal Accident Cover for Pillion Rider Adds safety for your passenger, in case of an accident.
You don’t have to buy every add-on. Just pick what fits how you use your bike. It keeps your premium reasonable and your coverage strong.
Benefits of Comprehensive Coverage
A comprehensive policy is a type of motor insurance that offers extensive coverage. It protects your vehicle from various risks and also covers damages or injuries caused to third parties or their property. Listed below are some of the advantages of having a comprehensive policy for your electric bike -
The policy shields your vehicle from a broad spectrum of risks, including accidents, theft, natural disasters, etc.
You have the flexibility to enhance your coverage by choosing add-ons such as zero depreciation cover, consumables cover, roadside assistance, etc.
In the unfortunate event of accidental disability or death, a comprehensive policy provides financial compensation.
It also safeguards you against any damages or liabilities incurred by third parties or their properties.
You also get discounts for using green-certified components.
Battery protection cover for any damages that can happen to it.
Partnerships with charging stations for added perks.
How to Calculate Electric Bike Insurance Premium?
Well let’s be clear, you don’t need to guess the premium. It’s not random.
Most insurance websites (including SMC Insurance) have a built-in calculator. You just need to enter a few basic details like:
Your e-bike’s brand and model
Purchase year
City of registration
Type of coverage (third-party or comprehensive)
Once you do that, the premium gets calculated instantly. You’ll see the price along with a breakdown of what’s covered. When you view it, there may be circumstances where you want to tweak your plan. In such cases, add-ons like zero depreciation or engine protection will have an impact on the premium. You can see the new total before paying anything.
Remember, there are no hidden charges. Just a simple, transparent way to know exactly what you're paying for.
Tips to Lower E-Bike Insurance Premiums
Here are some tips that will help you reduce your e-bike insurance premiums -
Comparison is Key
Start by comparing the e-bike policies offered by different insurance companies and examining their premium rates. You can use online platforms to get comparisons of various premium amounts and other benefits.
Select the Right Deductible
As mentioned earlier, a deductible is the portion of the claim amount that you need to pay out of your own pocket before your insurance company covers the rest. Deductibles are mainly of two types -
Compulsory Deductible
This is a fixed amount mandated by IRDAI, and you must pay it when you make a claim. This does not have an impact on your motor insurance premium.
Voluntary Deductible
You have the option to voluntarily pay a deductible amount. This is in addition to the compulsory deductible and is to be paid every time you file a claim. The higher the voluntary deductible, the lower your premium amount will be.
Stay Safe on the Road
How you drive on the road matters. If you drive safely and abide by traffic rules, this lowers the risk of mishaps. And, fewer accidents lead to a lower need for making claims.
When you maintain a claim-free record throughout the policy year, your insurance company rewards you with a No Claim Bonus discount. This discount reduces your premium at the time of renewal.
The No Claim Bonus can vary, ranging from 20% to a maximum of 50%. So, safe driving not only keeps you secure on the road but also saves you money on your policy.
Avoid Claims for Minor Damages
When you have a minor accident resulting in minimal damage, such as a scratch or a small dent on your vehicle, it is a good idea to cover the repair costs yourself. Filing a claim for such minor incidents can reset your accumulated No Claim Bonus to zero. You can actually save more money by covering smaller expenses yourself instead of making claims.
Transfer Your NCB to a New Policy
You can also enjoy motor insurance discounts by equipping your vehicle with certified anti-theft devices. Consider installing gear locks and theft alarms that are certified by ARAI (Automotive Research Association of India). These security measures can help lower your motor insurance costs.
Install Security Devices
You can also enjoy motor insurance discounts by equipping your vehicle with certified anti-theft devices. Consider installing gear locks and theft alarms that are certified by ARAI (Automotive Research Association of India). These security measures can help lower your motor insurance costs.
Choose Add-Ons Wisely
Add-ons are designed to broaden your base coverage, but they come with an additional premium. Some of the add-ons available with the Electric Bike Insurance Policy include zero-depreciation cover, NCB protection cover, roadside assistance, etc. Please keep in mind that you select only those add-ons that align with your specific needs.
Claim Process and Documentation
There are two types of claims -
Cashless Claims
Cashless claims, as the name suggests, are settled without requiring you to pay money upfront. The insurer directly settles the repair expenses with the garage where your vehicle is being fixed. It is important to note that a cashless claim is only approved if the vehicle is repaired at a garage listed with the insurance company's network.
Reimbursement Claims
When it comes to reimbursement claims, you initially cover the repair expenses at the workshop or garage and later request reimbursement from the insurer by providing the necessary documents. Once approved, the claim amount will be deposited into your bank account. This option is used when repairs are done at garages that are not on the insurer's approved list.
Claim Process of Electric Bike Insurance
Cashless Claims Process
Here's a step-by-step guide to help you file a cashless claim -
If your vehicle is involved in an accident, promptly inform the insurance company, providing a detailed account of the incident and the resulting damages.
Share the name and address of the garage where your vehicle will be repaired. As mentioned earlier, you must take your vehicle to a garage within the insurance company's network for cashless claims.
In cases involving a third party or accidental death, the insurance company may request a copy of the First Information Report (FIR).
Once the insurance company has all the necessary details, they will appoint a surveyor who will visit the garage to assess your vehicle's condition.
If the surveyor approves the claim, the garage can proceed with the repair work. They will need specific documents for this purpose.
Documents to be Signed by You As a customer, there are several documents you may need to sign during the insurance claim process -
Claim Form
Satisfaction Voucher; this document secures your consent before releasing the claim payment. It confirms your satisfaction with the vehicle repairs.
Discharge Voucher; this document is signed during claim settlement. This document specifies the payable amount and you acknowledge the same by signing the form.
Documents to be Shared by You You will need to provide the following documents -
RC copy
Driver's licence
ID proof
Once the repair work is finished, the garage will send the repair bill and invoice directly to the insurance company. The insurer will review the documents and subtract the compulsory deductibles and any consumable charges from the final bill amount. The approved amount will then be paid to the garage. You will only need to settle the compulsory deductible and consumable charges directly with the garage.
Reimbursement Claim Process
Here are the series of steps you need to follow to file a reimbursement claim in the event of an accident -
Intimate your insurer about the accident as fast as possible.
You will then need to submit certain documents, which can vary among insurers. These typically include a completed claim form, the workshop's repair estimate, and an FIR copy for third-party involvement or accidents involving fatalities (if applicable).
The insurance company will send a dedicated surveyor to assess your vehicle at the garage. Once the surveyor approves the claim, the repair work can begin.
After the repairs are done, you will need to pay the entire bill amount to the garage.
Next, you will have to send the repair bill, invoice, and any requested documents to your insurance company to request reimbursement.
Once your documents are verified, the approved claim amount will be transferred to your bank account by the insurance company.
List of Required Documents
You will need to submit the following documents to process your claim -
A completed claim form that is duly signed and filled out.
A copy of your motor insurance policy.
Tax payment receipt.
The garage repair estimate - signed and stamped by the garage.
Original repair invoice and payment receipt - both signed and stamped by the garage.
Claims discharge and satisfaction voucher that is duly signed, including a revenue stamp.
Both the original and a verified photocopy of your driving licence.
The original and a verified photocopy of your vehicle Registration Certificate (RC).
PAN Card
Aadhar Card
Pollution under control certificate copy.
A cancelled cheque/passbook.
Factors Affecting Electric Bike Insurance Premium
Several things come together to decide your electric bike’s insurance cost. Here’s what usually affects the premium:
Bike’s Make and Model
High-end bikes or ones with more expensive parts cost more to insure.
Battery Power and Motor Capacity
The higher the wattage or capacity, the more you’ll likely pay.
Bike’s Age
Newer bikes usually cost more to insure than older ones, especially if they’re still under warranty.
Location
Bikes used in cities with higher traffic or theft rates may have slightly higher premiums.
Coverage Type
A third-party policy costs less, but it doesn’t cover your own bike. Comprehensive plans cost more, but offer wider protection.
Add-On Covers
Adding extras like roadside assistance or zero depreciation will raise the premium a bit but may be worth it for the added peace of mind.
Claim History
If you've never filed a claim, you may get a No Claim Bonus (NCB), which lowers your premium.
Every rider is different, so insurance costs won’t be the same for everyone. But once you know what affects the price, it’s easier to make a smart call.
Why Does Insurance for E-Bikes Cost More?
E-bike insurance can cost more than regular two-wheeler insurance and it’s not without reason. Electric bikes usually have high-end components. The battery, for one, is expensive to replace. So if there’s damage or theft, the claim amount is higher than a standard petrol bike.
Then there’s the repair cost. Not every garage handles electric bikes, and parts aren’t always easy to source. That pushes up labour and service charges, which reflects in the premium too. Plus, many e-bikes are still new to the Indian market. Insurers have limited data on how risky they are to insure. So, to be cautious, they often price the premium a bit higher.
But the good news? You still have plenty of ways to lower the cost like picking the right coverage, using No Claim Bonus, and comparing quotes before you buy.
Get Repairs Without Paying From Your Pocket
Choose cashless claims at authorised garages. No bill handling. No running around. Just quality repairs, and we settle the costs directly. Check the nearest cashless garage now.
Summing Up
Your electric bike isn’t just a ride - it’s a smart, eco-friendly investment. Just like any valuable asset, it deserves the right protection. E-bike insurance gives you peace of mind on every journey, covering unexpected bumps along the way. It can be damage, theft, or third-party liabilities and a good electric bike insurance policy ensures you're never left stranded. So, ride confidently, knowing your e-bike (and your wallet) are both in safe hands. Power up your protection. Insure your e-bike today!
FAQs
Yes, insurance is mandatory for electric bikes (e-bikes) in India if their power exceeds 250W or the top speed exceeds 25 km/h. These e-bikes are treated like regular two-wheelers and must have at least third-party insurance under the Motor Vehicles Act.
Yes, while the core coverage (third-party and comprehensive) remains similar, EV insurance often includes specific benefits tailored for electric vehicles such as battery protection, coverage for charging equipment, and special depreciation rules for EV parts.
Yes, in the event of a claim, the insurer may send a surveyor to inspect the damage before approving repairs or reimbursements. This helps assess the extent of loss and validate the claim.
Usually, a pre-policy inspection is not needed if you are buying a new policy or renewing within the due date. However, if your policy has lapsed or the insurer requires verification, an inspection may be conducted.
You can easily renew your e-bike insurance online through the insurer’s website by entering your vehicle registration number, reviewing policy details, selecting the plan, and making the payment.
There are mainly two types:
Third-Party Insurance: Covers damages to others (mandatory by law).
Comprehensive Insurance: Covers third-party liabilities as well as own damage, theft, fire, natural calamities, and more.
The cost depends on factors such as the insured declared value (IDV), model of the e-bike, coverage type (third-party or comprehensive), and add-ons selected. Premiums for electric bikes are generally lower than for fuel-based bikes.
You can buy e-bike insurance online by visiting the insurer’s website, entering bike details, selecting the coverage type, comparing quotes, and completing payment. The policy is issued instantly.
To compare, look at Premium cost, Coverage inclusions and exclusions, Add-on options, Claim settlement ratio, Network garages, etc. You can use insurance comparison platforms or the insurer's tools to make an informed choice.
Yes, when you sell your e-bike, the existing insurance policy can be transferred to the new owner. Both parties must notify the insurer and submit the necessary documents such as sale deed and form 29/30.
Yes, just like electric bikes, insurance is mandatory for electric scooters if their specifications cross the threshold defined under the Motor Vehicles Act (i.e., speed above 25 km/h or motor power over 250W).
Typical exclusions include regular wear and tear, electrical or mechanical breakdown, riding without a valid license or while intoxicated, Consequential damage, usage outside policy terms (e.g., racing), etc.
SMC Insurance simplifies the insurance buying process by helping you:
Compare plans from multiple insurers
Understand policy features
Choose suitable add-ons
Get transparent pricing
Buy or renew your policy to protect your electric bike today.
