All you need to know about two-wheeler insurance for electric bikes On average, more than a million motorbikes ply on the Indian streets. However, the mechanical two-wheelers give out a lot of fumes in their wake. This not only causes environmental damage but also eats-up non-renewable sources such as petrol, diesel, etc. Fortunately, now there is another option available in the vehicle segment- electronic motorbikes. These e-bikes are not only eco-friendly, as they make use of electricity but also way more cost-friendly in the long run; as they run on electricity.
Teenagers say no to mechanical bikes:Thus, teenagers can now be easily spotted plying the Indian streets on an electronic motorbike or e-bikes. The reason why e-bikes have garnered so much appreciation from the teenagers is mainly due to the fact that motorbikes under 500W do not require them to possess a valid license or an insurance policy. However, in order to increase the safety quotient on the Indian streets; the authorities might make insurance compulsory for all the motorbike owners. Therefore, today in this article, we will be discussing all the important information related to your e-bike insurance policy. What are the insurance flaws on e-bikes:In the past, e-bikes didn’t have any presence in India. Therefore, as discussed earlier, a person neither needed a valid driving license nor two-wheeler insurance to ply on the Indian streets. This often encouraged people, mostly teenagers, to drive unsafely on the roads and get into accidents. Therefore, the lack of public safety is the first flaw of e-bikes. However, thanks to the increase in the influence of westernization; India will soon be adopting the culture of e-bikes and there would be proper mandates to monitor public safety. In fact, the authorities are still
in talks to introduce appropriate mandates and include e-bikes under the common law for motor vehicles. How insurance on e-bikes would work:You would think that the motorbike insurance for e-bikes would be the same as the one for your mechanical two-wheelers; however, as discussed earlier, there is a lot of difference between them. Thus, according to us, these are the factors that would determine the premium amount for e-bikes, and they are here as follows:
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Cubic capacity: The cubic capacity of your motorbike is highly considered by the insurance companies when determining the premium amount. Further, the IRDAI (Insurance Regulatory and Development Authority of India) has even set parameters to determine the premium amount for third-party cover. But the e-bikes function on electricity and do not have any cubic capacity; therefore, the IRDAI would have to work along with the insurance companies and determine the premium amount. Further, the premium amount of motorbike insurance for e-bikes would be lower than the ones for mechanical two-wheelers; as they function on electricity.
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Eco-friendly: The IRDAI and insurance companies alike might offer special waivers and concessions on the premium amount for e-bikes. The reason being, e-bikes are ecofriendly and thus, the authorities might take this move to encourage the riders to purchase them over the traditional two-wheelers.
However, these are just prediction as we would have to wait and watch, as to which story of ebikes would unfold in the near future. Further, whatever may happen, make sure that you drive safely and enjoy your journey!