Electric Bike Insurance

EV (electric vehicle) two-wheeler insurance covers electric bikes. The EV bike insurance protects the vehicle from damage and loss caused by natural disasters, man-made calamities, theft and more.

Like regular bike insurance plans, electric two-wheeler insurance also has various types, such as third-party, standalone own-damage, and comprehensive. Each option offers a different level of protection, so you can pick one that matches your riding habits and what your e-bike needs.

With e-bike insurance online in place, you can safeguard your vehicle from heavy repair costs, especially since fixing electric bikes can be expensive. Here are some of the crucial benefits of electric two-wheeler insurance.

Legal Compliance

One primary reason to purchase EV bike insurance is to comply with legal requirements. In India, it is mandatory for all two-wheelers, including electric bikes, to have at least third-party insurance.

This law ensures that the responsible party can cover the costs of injury, death, or property damage to third parties in the event of an accident. Having the necessary insurance allows e-bike owners to avoid legal penalties and fines.

Third-party Damage

Another reason to buy electric bike insurance in India is that it provides coverage for third-party liability and property damage caused by the insured vehicle.

If the electric vehicle is involved in an accident that causes harm to a third party or their property, the e-bike insurance will cover the financial liability. It saves policyholders from out-

Theft Coverage

Electric bikes are in demand and gaining popularity because they offer affordable, eco-friendly options. However, with this, it is also an easy and attractive target for thieves.

Vehicle theft is a common occurrence in several cities in India. With the electric two-wheeler insurance, you will receive compensation if the vehicle is stolen.

Accidental Coverage

Accidents are unfortunately quite common on Indian roads. If your e-bike is damaged in a collision, it can lead to additional financial costs.

An electric bike insurance policy helps cover the repair costs. This keeps you protected from sudden expenses and ensures your bike gets back on the road without putting pressure on your budget.

Add-ons Availability

TATA AIG electric two-wheeler insurance plans offer add-ons that provide extra protection and convenience. Options may include roadside assistance, zero depreciation cover, electric surge and battery replacement cover.

These add-ons allow you to customise your policy to your riding needs and provide enhanced peace of mind.

TATA AIG offers a range of two-wheeler insurance plans for your electric vehicles, tailored to your needs. With this plan, you can secure your electric vehicle against various kinds of damage and loss. Let us understand the TATA AIG electric bike insurance plan.

Third-party Bike Insurance Plan

TATA AIG’s standalone third-party long-term two-wheeler insurance (including the 5-year variant) is a liability-only policy that fulfils the legal requirement under the Motor Vehicles Act.

It covers your financial liability if your bike causes death, bodily injury, or property damage to a third party, anywhere in India. It also comes with compulsory personal accident cover for the owner-driver.

Standalone Own Damage Bike Insurance Plan

TATA AIG’s Auto Secure Standalone Own Damage two-wheeler policy covers only the own-damage risk of a two-wheeler and not third-party liability.

The plan covers the loss or damage to the bike and its accessories due to perils such as fire, theft, riot, strike, earthquake, flood, storm, landslide, terrorism, accidents, and damage while in transit, subject to standard depreciation rates on parts.

This bike insurance plan also comes with add‑on covers such as return to invoice, consumables, emergency medical expenses, and roadside assistance.

Comprehensive Bike Insurance Plan

TATA AIG’s bundled comprehensive two-wheeler cover provides coverage for mandatory third-party liability and the vehicle's own damage.

The plan offers coverage for accidental loss or damage to the insured bike and its accessories due to fire, theft, natural calamities, riots, strikes, malicious acts, terrorism, transit, and similar perils, with specified depreciation on parts.

The plan also includes add‑ons such as return to invoice, consumables, emergency medical expenses, and roadside assistance for EV owners who need enhanced coverage.

The workings of the electric bike insurance plan are similar to those of regular bike plans. Let us understand this with an example. Sumit has purchased a comprehensive bike insurance plan for electric scooters from TATA AIG. This policy covers third-party liabilities as well as damages to his own e-bike.

One day, while parking an electric scooter, he accidentally hit another parked vehicle. This minor collision caused damage to his vehicle and other vehicles. But since Sumit has a comprehensive electric scooter plan, both repairs will be covered by the TATA AIG, per his policy terms. This saves him from paying out of pocket and makes the situation much easier to handle.

TATA AIG bike insurance plans come with a range of unique add-ons to protect your electric bikes.

Electric Surge Secure

This add-on will cover the partial, total, or constructive total loss or damage to the electric vehicle, including charging equipment, from arcing, self-heating, electricity leakage, short-circuiting, or water ingress during charging.

The maximum liability under this add-on is limited to the IDV. This add-on is available with both standalone own damage and comprehensive bike insurance plans.

Zero Depreciation for Battery

This add-on reimburses depreciation deducted on battery replacement under own-damage claims. Covers the first 1-3 claims (as per schedule) during the policy period, with a deductible.

The add-on is not applicable if the battery cost is not included in IDV. It is also available with both standalone own damage and comprehensive bike insurance plans.

Also Read: Zero Depreciation in Two-Wheeler Insurance

RoadSide Assistance

The add-on provides on-spot help for breakdowns such as flat tyres, battery jump-starts, minor repairs, lost keys, emergency fuel up to 5L chargeable, and towing up to 100 km. The add-on is tailored for EVs via battery or charging support.

Also Read: Roadside Assistance

Zero Depreciation Cover

Zero depreciation cover helps you get the maximum payout for your bike repairs.With this add-on, depreciation on parts is not considered, so you receive the full approved claim amount for any damaged components.

Also Read: Zero Depreciation in Two-Wheeler Insurance

Return to Invoice

This add-on pays the invoice price (less depreciation) for a total or constructive total loss, or for theft, plus reimbursement for registration or road tax. The add-on requires first-owner status and lender consent if financed. It is not applicable to imported EVs.

Also Read: Return to Invoice Cover

Consumables Expenses

It covers costs for consumables, e.g., lubricants, filters, nuts/bolts, excluding fuel replaced due to accidents. The add-on is limited to admissible own-damage claims at authorised garages. It also applies to EV maintenance items, such as coolants and oils.

Also Read: Consumables Cover

Additional Third-Party Property Damage

This add-on increases the third-party property damage limit beyond the standard as per the schedule. It is solely for accident-caused damage; aggregate limit per event or period.

Additional Personal Accident Cover

This add-on enhances PA benefits for owner drivers beyond the compulsory Rs. 15 lakh. The maximum sum insured is up to the schedule limit.

Also Read: Personal Accident Cover in Bike Insurance

Emergency Medical Expenses Cover

Emergency medical expenses cover helps pay for the medical costs if you or your pillion rider get injured in an accident involving your electric bike. It reduces out-of-pocket expenses during emergencies and ensures you get timely treatment

Choosing the EV bike insurance plan can be daunting with so many options available. To make the process easier, here are some factors vehicle owners should consider when choosing the right electric bike insurance plan.

Coverage Type

When buying the electric bike insurance plan, the first thing you need to consider is the type of coverage. Deciding which type of coverage you want, whether it is third-party or standalone own damage, or comprehensive coverage, is crucial. Always choose the coverage based on your riding needs.

Insured Declared Value

Another thing to consider is the insured declared value. It is the current market value of your electric bike and determines the maximum amount you can claim in the event of a total loss or theft. Choosing the correct insured declared value at the time of buying a plan is crucial for fair compensation.

EV Specific Add-ons

Electric bikes have components like batteries and advanced electronics that can be expensive to repair. Look for add-ons such as battery protection, zero depreciation or roadside assistance. These extras give better coverage tailored for EVs. TATA AIG offers EV-specific add-ons with our bike insurance plans.

Premium Cost

Lastly, while buying an electric bike insurance plan, it is always good to know the premium cost beforehand. You can use the bike insurance premium calculator to know the estimated premium before buying a plan. This will help you determine whether the plan fits your budget requirements.

Buying an electric bike insurance plan with TATA AIG requires completing a few steps. Here is how you can buy a bike insurance plan with EV-specific add-ons.

• Step 1: Go to the TATA AIG website and head to the “Personal” section and choose “Bike Insurance" under the motor insurance section.
• Step 2: Enter the bike details, such as the vehicle registration number, and then select the “Get Price” option to learn about the different bike insurance policies.
• Step 3: From different bike insurance plans, choose the ones that fit your needs, and also include the EV-specific add-ons.
• Step 4: Complete the CKYC process and make a payment for the chosen electric bike insurance plans.
• Step 5: After making a payment, an electric bike insurance policy document will be sent to your registered email address.

Policyholders whose electric bike insurance plan is about to expire can renew it with TATA AIG by following the steps below.

• Step 1: Go to the TATA AIG website and head to the “Renewal” section and choose the “Bike” option.
• Step 2: Enter the bike's registration number or policy number. After that, click on the “Renew” option.
• Step 3: The existing bike insurance plan details will appear. Review the plan thoroughly, and add EV-specific add-on if not included.
• Step 4: After completing the CKYC process, proceed with the payment for electric bike insurance.
• Step 5: Once done, a renewed electric bike insurance policy will be sent to the email address you mentioned.

The cost of electric bike insurance depends on several factors, such as the type of plan, battery capacity, add-ons selected, and more. Let us understand these factors which affect the electric bike insurance price.

Type of Coverage

Generally, the type of coverage selected influences the electric bike insurance price. If you have selected the basic third-party bike insurance plans, the premium will be lower. Comprehensive bike insurance plans offer enhanced coverage, resulting in higher premiums.

Battery Capacity

In the case of electric bikes, battery or motor capacity also matters. Bikes with more powerful motors or larger battery packs tend to have higher insurance premiums. This reflects the higher risk or replacement cost involved with larger or more powerful e-bikes.

Add-ons Included

Adding extra features to your insurance policy, such as zero depreciation cover or a no-claim bonus protector, will increase the premium. While these add-ons provide additional coverage, they also raise the overall cost of your insurance.

Insured Declared Value

The IDV of electric bikes directly affects the premium. A higher IDV means the insurer will pay more if your bike is stolen or damaged beyond repair, which leads to a higher premium.

A lower IDV reduces the premium but also lowers the compensation you receive in the event of a total loss.

Geographical Location

Where you live also impacts your insurance premium. If you reside in an area prone to natural disasters, such as floods or earthquakes, or in a high-risk area, your premium may be higher due to the increased risk of damage or theft.

The IRDAI has decided the third-party bike insurance rates for electric vehicles based on the battery capacity. Here are the rates based on the battery capacity.

Filing an electric bike insurance claim with TATA AIG is a simple process. Policyholders can either file a cashless claim or a reimbursement claim. Here are the steps for both procedures.

Cashless Claim for Electric Bikes

• Step 1: To initiate the cashless claim process, notify the TATA AIG representative about the incident via the self-service portal or using the helpline number (022 6489 8282).
• Step 2: Next, find the network garage in your area using the garage locator tool. Take your vehicle to that garage for repair.
• Step 3: Provide the vehicle policy document to the network garage owner. After that, a surveyor will be assigned to assess the damage to the electric vehicle.
• Step 4: The surveyor will prepare a report, and based on that, we will approve or reject the cashless claim request.
• Step 5: If the claim is approved, the garage owner will start the repair process. Once the repair service is complete, you can take your vehicle home. We will settle the bills with the garage directly.

Reimbursement Claim for Electric Bikes

• Step 1: For a reimbursement process, you need to notify us about the incident by calling the helpline number (022 6489 8282) or using a self-service portal.
• Step 2: After that, take your electric vehicle to any garage of your choice for repair. Pay the repair bills and collect all the repair invoices and receipts.
• Step 3: Start by filling out the reimbursement claim form and submit it to the TATA AIG claim portal along with other documents.
• Step 4: We will verify the claim form and other documents, and based on that, we will approve the claim.
• Step 5: If the claim is approved, we will send the reimbursement amount directly to your bank account.

To file a claim for EV bikes, you need to submit the documents mentioned below in the correct format and size.

• Duly signed and filled claim form.
• Original electric bike insurance policy document.
• Copy of the bike’s RC, driving licence, etc.
• FIR report in case of theft, major accident and third-party damage.
• Original repair bills and estimates.
• Photographs or video proof.
• Any additional documents requested by the TATA AIG representative

Also Read: What are the Documents Required for a Bike Insurance Claim?

An electric bike insurance plan is essential for anyone who owns an e-bike or e-scooter. Electric vehicles are more expensive than petrol bikes mainly because of their high-value components, such as the battery, motor, and charging system.

If any of these parts get damaged, the repair costs can be quite high. With the right electric bike insurance plan, you can protect yourself from these unexpected expenses and keep your rides worry-free.

Not just this, having 3rd-party bike insurance is necessary while driving on Indian roads, whether you own an electric vehicle or a regular bike. Driving without it can invite a fine ranging between ₹2000 to ₹4000 from the authorities. Considering this, it is best to buy electric bike insurance in India.

TATA AIG offers customised, affordable bike insurance plans for your electric vehicles, so you can choose the coverage that fits your needs and riding. For instance, our comprehensive bike insurance plans cover third-party injury and property damage caused by the insured vehicle, and they also take care of your electric bike’s own damages.

Furthermore, our plans also include EV-specific add-ons, such as electric surge protection and zero depreciation on the battery, to enhance electric vehicle coverage. Secure your electric vehicle with our affordable electric bike insurance plans.