Electric scooters have become increasingly popular in recent years as a convenient and eco-friendly mode of transportation. However, many people are unsure about what type of insurance they need to protect themselves and their electric scooters.
In this article, we will discuss the different types of insurance available for electric scooters and the importance of having coverage to protect yourself and your investment.
We will also provide tips on how to find the best insurance policy for your electric scooter and the laws and regulations that may apply to your area. Whether you’re a new electric scooter owner or just considering one, this article will provide valuable information to help you make an informed decision about your insurance needs.
Is insurance mandatory for electric scooters in India?
In India, electric scooters are considered two-wheelers and are governed by the Motor Vehicles Act, of 1988. According to this act, it is mandatory for all vehicles, including electric scooters, to have a valid insurance policy.
It’s also important to note that, having an insurance policy for your electric scooter not only protects you against financial loss in case of an accident but also protects you against legal liabilities and fines.
The Act makes it mandatory for all vehicles to have a third-party liability insurance policy, which covers any damages or injuries caused to a third party as a result of an accident involving the vehicle.
Insurance for unregistered Electric Scooters in India
Electric scooters with a top speed of up to 25 km/h do not constitute motor vehicles. These low-speed electric scooters do not require registration and do not require a driver’s license either.
In India, non-registered electric scooters are not mandatory to have insurance. However, some insurance companies may offer coverage for electric scooters as a rider or add-on policy to a regular motor vehicle insurance policy.
It is recommended to check with your insurance company or an insurance broker to see if they offer coverage for electric scooters and the terms and conditions of such a policy. Additionally, some companies may also offer specific insurance for e-scooters, these are policies that are designed for e-scooters and can provide more specialized coverage.
It is important to research and compare different policy options and to understand the coverage provided before purchasing insurance for your electric scooter.
Cost of Insurance for Electric Scooters In India
The cost of insurance for electric scooters can vary depending on a number of factors, including the make and model of the scooter, the driver’s record, and the location. However, it can be more expensive than traditional gasoline-powered scooters because they are relatively new technology and the cost of repairs can be higher.
Some insurance companies may also offer discounts for electric scooters because they are considered to be less environmentally harmful. Additionally, the cost of insurance for electric scooters can also depend on the coverage options you choose. For example, a comprehensive coverage policy may cost more than a third-party liability policy.
Best Insurance Companies For Electric Scooters in India
In India, there are several insurance companies that offer coverage for electric scooters. Some of the top insurance companies for electric scooters in India are:
- Bajaj Allianz General Insurance: They have a specific policy for electric two-wheelers, which provides coverage for third-party liability, personal accidents, and more.
- HDFC Ergo: They offer a range of insurance policies for electric two-wheelers, including third-party liability insurance and comprehensive coverage.
- ICICI Lombard: They offer a range of insurance policies for electric two-wheelers, including third-party liability insurance and comprehensive coverage.
- Royal Sundaram: They offer a range of insurance policies for electric two-wheelers, including third-party liability insurance and comprehensive coverage.
- TATA AIG: They offer a range of insurance policies for electric two-wheelers, including third-party liability insurance and comprehensive coverage.
It’s important to note that, insurance policies and pricing can vary between insurance companies, and it’s best to shop around and compare quotes from multiple providers to find the best coverage and rate for your electric scooter. It’s always recommended to check with local authorities and insurance companies to determine the specific requirements for your area.
