E-scooters (electric scooters) are hitting the market with such a boom that it’s becoming a demanding choice for every teenager these days. Due to their accelerated speed, good battery backup and other features, e-scooters are becoming more efficient to commute shorter distances.
As per the Motor Vehicle Act of 1988, it’s mandatory to have at least two-wheeler third-party insurance before plying on the road. In the case of electric scooters, the government is yet to announce specific rules and regulations as they are still in the adoption phase in the country. Therefore, not all two-wheeler insurance rules apply to e-scooters because there exist two categories – one that’s less powerful and the other that runs at a speed of more than 25KMPH. Before availing any kind of insurance for e-scooters, it’s crucial to look out at the following points for better protection:
Consider the Following Points Before Taking Insurance
Scrutinize your Needs
It becomes very important for the rider to research all schemes and products of any insurance policy before availing any of them. The owner/rider must make clear about their all requirements whichever best suits them. If the rider lives in the outskirts away from the traffic then instead of going with comprehensive insurance, he/she may opt for third-party insurance due to less probability of any contingency situations on the road.
Compare Policies Online
There are many insurance companies that keep on polishing and renewing their policies by introducing new products, adding extra benefits, and some other add-ons. They even provide self-customization services on their websites for their online customers. So, it’s imperative to compare such schemes online in order to avail the best suitable one that meets one’s all needs.
Ask for Quotes
Shortlisting the best policy for oneself through online research is not just enough. Further verification is still needed on the basis of one’s own articulation. It’s imperative to ask for quotes from the insurance company for which one has chosen the policy. Quotes can be easily obtained by sharing one’s personal details and vehicle information with the company. Compare the quotes and choose the best that suits one’s needs.
Pay Online
After finalising the bike insurance policy, make the payment online. On successful completion of the payment, the insurance company will share all the policy-related documents in your email along with the manuals about how to use their insurance product.
Most Common Insurance Policy Options
Third-Party Insurance Policy
Third-party insurance covers only third-party liabilities and is applicable to only two-wheelers. In case of any contingencies on the road where you hurt someone or damage any third-party property, this policy will cover the expenses – medical expenses in case of an injury caused to a third party as well as other damages caused to the victim’s vehicle or property. This type of insurance policy prohibits any expenditure if the damage is to your own scooter.
Comprehensive Insurance Policy
As the name suggests, this is a more inclusive two-wheeler insurance policy. A comprehensive two-wheeler insurance policy provides optimum cover for the insured vehicle against any man-made or natural disaster. Apart from third-party liabilities, this insurance policy covers your scooter’s repair expenses in case of accidents, theft and malicious damage.
Own Damage Insurance Cover
This insurance policy provides coverage only against the damages that are caused to your electric scooter due to road accidents, natural causes, man made causes, and loss due to theft.
Key Takeaways
As we know, fossil fuel and other non-renewable natural resources are declining at a fast rate plus the harmful emissions due to motor vehicles are a big problem, especially in India where environmental pollution is at its peak. Therefore, increased adoption and promotion of electric vehicles are much needed. If you embrace the technology and want to do your bit in saving the environment, then make sure you buy a suitable insurance policy to protect your bike and have a safe and stress-free riding experience.