Electric Bike Insurance

Provides financial protection against demise or injury to a third person due to an accident caused by your electric bike. And it also covers damages to their property or vehicle. However, it does not provide financial security against damages or losses incurred by your e-bike.

Provides financial protection only against damages or losses incurred by your e-bike. It includes coverage against damages caused by fire, road accidents, manmade or natural causes, theft and total loss. However, the e-bike insurance does not cover third-party losses.

It is a combination of Third-party Insurance and Own Damage cover. Hence, it is the most suitable bike insurance plan for our electric scooter or bike. Like the Own Damage Bike Insurance Cover, you also have the option to include add-ons to enhance the coverage in this plan. Add-ons are subject to availability.

ACKO operates on a digital platform. There are no middlemen involved resulting in lower operating costs. The savings are then passed on to the customers through low-cost electric bike insurance.

It is mandatory to insure an e bike or scooter with the Third-party electric bike insurance. Failure to insure your electric two wheeler leads to penalties of up to Rs. 4,000 or even imprisonment based on the severity of the situation.

Whether it is a third-party liability or damages to e-bikes, the Comprehensive Bike Insurance Plan provides financial security during such situations based on the policy’s terms and conditions.

You can raise a claim for minor damages (dents, broken mirrors, etc.) through the online platform. If the claim is approved, ACKO shall settle the claim within a few hours of you filing the claim. For extensive damages, our support team shall guide you through the process.

You can rest assured knowing your electric motorcycle or scooter is insured, and you are financially protected against accidental damage or third-party losses.

When you insure your electric two wheeler with the Comprehensive Bike Insurance Plan or Own Damage (OD) cover, you have access to buy add-on covers that enhance the policy coverage, subject to availability.

Depending on the make and model of the bike, the electric scooter insurance premium will vary. Expensive e-bikes or scooters mean a higher financial liability for the insurer. Hence, the cost of electric bike insurance is higher for premium electric vehicles.

All vehicles depreciate over the years; hence, the market value decreases accordingly. Therefore, the IDV of the e-bike also decreases. The older the bike, the lower the cost. Therefore, premium decreases for older EV bikes and new bikes attract higher premiums.

There are two types of deductibles: voluntary and compulsory. If you opt for a voluntary deductible, the premium reduces, but you must pay more during bike insurance claims.

The NCB is a discount on the renewal for not filing claims during the previous policy period. You can get up to 50% of a discount if you do not file claims for five consecutive years. Hence, the premium is directly proportional to the percentage of NCB you have earned.

If you have taken the effort to secure your e bike with an anti-theft device, the insurer may consider offering a discount on the bike insurance premium.

When you include add-ons like Zero Depreciation Cover, No Claim Bonus Protector, Key Loss Cover, etc., the premium will increase. This means that the more add-ons you include, the higher the premiums will be.

If you modify the electric bike, for instance, if you modify it aesthetically, then it increases the insurer’s liability. Thus, for any such modifications, the premium will become higher.

The location of the insured electric scooter/bike also affects its premium. For instance, if you reside in a location prone to natural disasters or hazardous activities, the premium in such regions will be higher.