What’s excluded from electric bike insurance?
There are a few things and incidents that the two-wheeler insurance does not cover. For example, you won’t receive any compensation if your bike goes to the garage due to normal wear and tear. Also, there’s no cover if you are driving your e-bike without a license. Plus, theft of your bike’s accessories is excluded.
Tips to decrease the premium of your two-wheeler insurance
Many e-bike users don’t know, but they can reduce the premium of their two-wheeler insurance. Here are a few ways to do it:
1. Install anti-theft device:
Insurance companies don’t mind reducing the premium if a two-wheeler is equipped with an anti-theft alarm or a similar security device. Pro Tip: Get the devices that the Automotive Research Association of India (ARAI) has approved. These devices are easily available online.
2. Avoid making claims for minor issues:
If you don’t make a claim during your previous policy period, the service provider offers a discount known as No Claim Bonus (NCB) at the time of policy renewal. By not making claims for minor issues with your e-bike, you become eligible for this discount.
3. Buy relevant add-ons:
There is no doubt that add-ons increase the benefits of your policy. But, not all of them might be relevant to you and your bile. Select an add-on only if the benefit it offers is useful to you.
4. Renew on time:
There’s typically a window of 90 days to renew your two-wheeler policy. After that, you won’t be able to enjoy the discount against your no claim bonus. Being an early bird has its benefits.
5. Get your bike insurance online:
When you purchase the bike insurance online, you don’t pay anything in the form of commission to an intermediary or an agent. This reduces your premium.
The bottom line
Irrespective of the type of e-bike you use, it is beneficial to get bike insurance. After all, you won’t have to pay for the damages to your bike caused when driving on busy roads. We recommend you read the policy thoroughly to understand what’s included and what’s not. Feel free to contact your insurer’s customer care to clarify the doubts further.