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  • Overview
  • Features And Benefits
  • Types of Shriram Electric Bike Insurance
  • Coverages
  • Compare Plan
  • Premium Component
  • Eligibility and Required Documents
  • Buy / Renew
  • Add-Ons
  • Claim Process
  • Policy Download

Overview

Electric bikes, or e-bikes, have rapidly gained popularity as a sustainable and efficient mode of transportation. As these modern two-wheelers are gradually becoming an integral part of our daily lives, it is essential to protect these assets from potential risks. Electric bike insurance, also known as e-bike insurance, offers a tailored insurance policy exclusively designed for these electric-powered vehicles. Shriram General Insurance, a renowned name in the industry, offers suitable e-bike insurance options. Read on to learn more about our product.

Electric bikes overview
What is Electric Bike Insurance?

What is Electric Bike Insurance?

Electric bike insurance, or e-bike insurance, is a type of insurance policy that provides financial protection for electric-powered two-wheelers. Similar to traditional two-wheeler insurance, e-bike insurance covers a range of risks, including accidents, theft, fire, and third-party liabilities. It serves as a safety net for e-bike owners, ensuring they are protected from unexpected expenses arising from accidental damages.

Coverage Options for Electric Bike Insurance

Protect your electric bike with a range of insurance coverages tailored to your needs. Shriram General Insurance offers various options to ensure you have the right level of protection for your valuable asset. Whether you seek coverage against accidents, third-party liabilities, or damages, we have you covered.

Comprehensive Electric Bike Insurance

Comprehensive Electric Bike Insurance

Enjoy all-inclusive protection for your electric bike with this comprehensive insurance plan. It covers accidental damages to your electric two-wheeler, theft, natural disasters, fire, and third-party liability. It also offers add-on covers to enhance the coverage.

Third-Party Insurance Policy

Third-Party Insurance Policy

As a mandatory coverage, this insurance policy safeguards you from financial and legal liabilities arising from third-party injury, death, or property damage. However, it does not cover accidental damage to your e-bike.

Own Damage Cover

Own Damage Cover

The Own Damage (OD) coverage offers comprehensive protection for your electric bike against damages caused by unforeseen mishaps such as accidents, theft, natural disasters, and man-made calamities. But, this type of insurance plan does not cover third-party liabilities.

What Are the Benefits of Buying Electric Bike Insurance?

Electric bike insurance, also known as e-bike insurance, offers a range of benefits to e-bike owners, ensuring a secure and worry-free riding experience. Let's explore the key advantages of purchasing electric bike insurance

Pocket-friendly Premium

Shriram General Insurance offers competitive insurance prices for electric bike insurance policies along with minimal documentation requirements. This makes it easier for e-bike owners to secure comprehensive coverage without straining their budget.

Superfast Claim Registration

With an easy and simple online claim process, filing and processing claims for electric bike insurance is a breeze. The streamlined process ensures quick claim settlements, reducing unnecessary delays and hassles.

Extensive Add-on Options

E-bike insurance policies offer a range of add-on options that allow owners to customise their coverage according to their specific needs. From zero depreciation cover to roadside assistance cover and more, these add-ons enhance the overall insurance coverage of your e-bike.

Comprehensive Plans

Electric bike insurance provides all-around protection with comprehensive insurance. It safeguards your e-bike against damages, accidents, theft, and third-party liabilities, ensuring you are financially protected in various scenarios.

Coverage for Third-Party Liabilities

If your bike is involved in an accident resulting in damages to a third-party property, Third-party bike insurance shall cover such losses. It also covers bodily injury or death of a third-party.

Competitive Preminums

You can raise your claims quickly through our website or My SGI app, making it a hassle-free experience.

  • How to Buy Insurance Online for Electric Bikes
  • How to Renew Insurance for Electric Bike Online

Are you ready to secure comprehensive coverage for your electric bike? Follow these simple steps to buy electric bike insurance online

01

Visit our website or MySGI mobile app.

02

Provide e-bike details.

03

Select the ideal insurance plan.

04

Make the payment online and receive your policy document instantly

Ensure continuous protection for your electric bike by renewing your insurance policy. Follow these straightforward steps for a quick renewal.

01

Visit the Shriram General Insurance website at www.shriramgi.com or MySGI mobile app to log in to your account

02

Choose the policy for renewal.

03

Select the coverage and Pay the premium online for instant renewal.

04

Pay the premium online for instant policy renewal.

Electric Bike Insurance: What’s Not Covered?

While electric bike insurance provides comprehensive coverage for various risks, t here are certain exclusions you must know. Here are some common scenarios that are not covered by electric bike insurance

Intentional Negligence

If the electric bike owner intentionally ignores damage to their e-bike and it worsens before they decide to get it fixed, the insurer will not provide coverage for the resulting damages.

Racing or Illegal Activities

Accidental damages that occur while participating in racing challenges or events or using your electric bike to engage in illegal activities (defined in the policy) are not covered.

Driving Under the Influence of Alcohol or Drugs

Any damages or accidents that occur while riding the electric bike under the influence of alcohol or drugs will not be covered by insurance.

Unauthorised Riders

If your e-bike is used by a person who is not authorised or licensed to ride, any damages or accidents that occur during such instances will not be covered.

Consequential Damage

The insurer will not cover any loss or damage to the electric bike that did not occur due to direct contact with another vehicle or object while on the road.

Lapsed Insurance Policy

It is crucial to renew the electric bike insurance policy on time. If the insurance policy expires, the insurer will not provide coverage in any form..

How to Calculate Electric Bike Insurance Premium?

Calculating the premium for electric bike insurance is a straightforward process. Here's how you can do it

  • Determine Insured Declared Value (IDV)

    The premium is calculated based on the Insured Declared Value (IDV) of your electric bike. IDV represents the current market value of your e-bike and is fixed by the insurer.

  • Select Coverage and Add-ons

    Choose the type of coverage you want for your electric bike insurance,such as comprehensive or third-party insurance. Additionally, if you opt for any add-on covers, the premium will be adjusted accordingly.

  • Calculate Premium

    Once you select the IDV and coverage options, you can calculate the premium using the formula specified by the insurance company. The formula takes into account various factors, including the IDV, coverage type, add-ons, and other risk-related factors.

  • Use Online Premium Calculator

    Alternatively, you can use the Electric Two-Wheeler Insurance Premium Calculator. Enter the required details, such as your e-bike's make, model, year of manufacture, registration number and select the desired coverage options. The premium calculator will provide you with the estimated premium amount instantly.

How to Calculate Electric Bike Insurance Premium?

How to File a Claim for an Electric Bike Insurance?

Shriram General Insurance makes the process of rasing claims online for your electric bike insurance simple and hassle-free. Follow the below mentioned steps to submit your claim.

  • Step1
  • Step2
  • Step3
step-1

Visit our website www.shriramgi.com or download the MySGI app to access your Shriram account.

step-2

Select the policy to raise the claim for your electric bike insurance and provide details about the damages.

step-3

Upload the necessary soft copies of documents required for quick and efficient claim registration.

Our customer service team will contact you to assist on the claim. Alternatively, you can also call us at 1800-300-30000/1800-103-3009 to raise the claim against your bike insurance policy. Our customer service team will guide you throughout the bike insurance claim process.

Add-ons in Electric Vehicle Insurance

Enhance your electric bike insurance coverage with these valuable add-ons

Enhance your electric bike insurance coverage with our special add-ons. These optional add-ons supplement your base insurance by providing a complete defence against a variety of risks and uncertainties.

Consumables Cover

Consumables Cover

Consumables such as nuts, bolts, grease, AC gas, coolants, ball bearings, etc., are covered under this add-on. Shriram General Insurance covers the expenses related to the repair or replacement of these consumables.

Daily Expense Reimbursement Cover

Daily Expense Reimbursement Cover

As the name indicates, this add-on reimburses the policyholder for the money spent on hiring a private vehicle while their car is in the garage undergoing repairs.

Nil Depreciation Cover

Nil Depreciation Cover

With this add-on, you can enjoy full claim amount without considering depreciation on parts during repairs or replacements after an accident

Personal Belongings Cover

Personal Belongings Cover

This add-on provides coverage for your personal belongings kept inside the insured electric vehicle, protecting them from theft or damage.

Return to Invoice

Return to Invoice

It covers the difference between a vehicle's insured value and its original purchase price in case of total loss or theft.

Hospital Daily Cash Allowance

Hospital Daily Cash Allowance

This cover provides a fixed daily payment during hospitalisation to cover incidental expenses.

These add-ons to your electric bike insurance provide extra levels of safety and customisation, allowing you to adapt the coverage to your exact requirements and preferences. You may enjoy expanded coverage and maximise the benefits of your electric bike insurance policy by selecting these add-ons.

Steps to Download Your Electric Bike Insurance Policy

Downloading your electric bike insurance policy from Shriram General Insurance is quick and convenient. Follow these steps

Steps to Download Your Electric Bike Insurance Policy

Step 01

Visit our website www.shriramgi.com or download the MySGI app.

Step 02

Log in to your Shriram account and choose the relevant policy.

Step 03

Click "Download electric bike insurance policy" to get a copy of your policy document online right away.

Documents Required for Electric Bike Insurance Claim at Shriram General Insurance

When filing a claim for your electric bike insurance with Shriram General Insurance, ensure you have the following documents ready

Policy Document

A copy of your electric bike insurance policy

Claim Form

Duly filled and signed claim form providing details of the incident and other vital information.

Registration Certificate

A copy of your electric bike's registration certificate

Driving Licence

A copy of the rider's valid driving licence

FIR (if applicable)

A copy of the First Information Report (FIR) in case of an accident

Photographs

Spot photographs of the damages to the electric bike, if available

Other Relevant Documents

Any other documents as required by the insurance company based on the nature of the claim.

Why Should You Buy Electric Bike Insurance from Shriram General Insurance

Choosing Shriram General Insurance for your electric bike insurance offers several benefits:

1

Quick and Easy Claim Process

The claim process with Shriram General Insurance is hassle-free and efficient.

2

Customer Support

Our dedicated customer support team is available between 4:00 am and 12:00 am to assist you with policy-related queries or issues.

3

Affordable Premiums

Enjoy pocket-friendly premium rates for your electric bike insurance policy.

4

Convenient Online Services

With our user-friendly website and mobile app, you can buy, renew, and manage your electric bike insurance policy online with ease.

5

Reputable Insurance Provider

Shriram General Insurance is a trusted and reliable insurance provider with a strong track record in the insurance industry.

Frequently Asked Questions (FAQs)

Here are some commonly asked questions about electric vehicle insurance.

Are add-ons necessary for electric bike insurance?

Currently Independent Financial Advisor(IFA) with tax status as Individual can get empanelled.

How is the premium for electric bike insurance calculated?

The premium for electric bike insurance is computed using parameters such as the Insured Declared Value (IDV) of your e-bike, the coverage chosen, add-ons selected, and other risk-related factors. For a quote, use Shriram General Insurance’s premium calculator or contact customer care.

What documentation is needed to file an insurance claim for an electric bike?

Currently Independent Financial Advisor(IFA) with tax status as Individual can get empanelled.

Electric Bike Insurance features and benefits

In this page, we have provided a comprehensive overview of the features and benefits of our insurance coverage specifically designed for electric bikes. From protection against theft and damage to customised add-ons, we aim to provide peace of mind and safeguard your investment. Explore the unique advantages our insurance offers to electric bike owners.

Electric Bike Insurance features and benefits

Features of Electric Bike Insurance

The following are the key features of Electric Bike Insurance from Shriram General Insurance.

Theft coverage

Theft coverage

Our Electric Bike Insurance offers coverage in the event that your electric bike or its individual parts are stolen.- Partial Theft is not covered

Accidental damage coverage

Accidental damage coverage

In accordance with the terms of the policy, we will pay for repairs or replacement if your electric bike is damaged in an accident.

Personal Accident (PA) coverage

Personal Accident (PA) coverage

If the insured is involved in an accident and regrettably experiences disability or death as a result, we will compensate them or their nominee with a lump sum.

Third-party liability coverage

Third-party liability coverage

Similar to other types of insurance, Electric Bike Insurance includes liability coverage. This means that if you unintentionally cause damage or injury to someone while riding your electric bike, we will cover the costs associated with legal claims and compensation.

Legal protection

Legal protection

A unique feature of our Electric Bike Insurance is legal protection in the event of a dispute with other parties involved in an accident. We help cover legal representation and expenses related to legal proceedings.

Add-ons

Add-ons

We offer a variety of useful Add-ons. Add-ons are optional extensions or additional coverage that you can include in your insurance policy for an extra fee. These can provide further protection and customisation to meet your specific needs.

Benefits of Electric Bike Insurance

The following are the benefits you can enjoy by insuring your electric bike with us.

Pocket-friendly policies

Shriram General Insurance's Electric Bike Insurance offers affordable policies tailored to fit your budget, ensuring that you receive comprehensive coverage without breaking the bank.

Zero paperwork

Say goodbye to the hassle of paperwork with our Electric Bike Insurance. Enjoy a seamless and paperless insurance experience, making it quick and convenient to get coverage for your electric bike.. Required the basic mandatory documents

Easy claim process

Another benefit is, we provide a hassle-free and straightforward claims process, ensuring that you can get the support and compensation you need without unnecessary delays or complications.

Swift claims

With Shriram General Insurance's Electric Bike Insurance, you can expect prompt and efficient claims settlement, ensuring that you receive the necessary reimbursement or repair assistance in a timely manner.

Convenient usage

Our digital infrastructure offers convenient usage, allowing you to ride your electric bike with peace of mind, knowing that you are protected against theft, damage, and accidents.

Peace of mind

Insure with us and you can enjoy the confidence and peace of mind that comes from knowing your electric bike is protected in various situations, allowing you to ride worry-free and focus on enjoying your journeys.

Frequently Asked Questions (FAQs)

This section covers frequently asked questions on our Electric Bike Insurance’s features and benefits.

Can I customise my Electric Bike Insurance Policy?

Yes, you can customise your Electric Bike Insurance Policy. We offer a variety of useful add-ons that allow you to customise your policy according to your specific needs, providing further protection and convenience.

Are the policies budget-friendly?

Yes, our policies are budget-friendly, ensuring that you receive comprehensive coverage without excessive costs.

Is there any paperwork involved?

No, there is no paperwork involved. With Shriram General Insurance's Electric Bike Insurance, you can enjoy a seamless and paperless insurance experience, making it quick and convenient to get coverage for your electric bike.- Required the basic mandatory documents

Are there any restrictions on the age or type of electric bike covered?

We cover a wide range of electric bike models, regardless of their age or type. However, it is important to review the policy terms and conditions to understand any specific restrictions or requirements.

Types of Electric Bike Insurance

There are multiple Electric Bike Insurance Policies offered by Shriram General Insurance. In this page, we will delve into the different coverage options to help you make an informed decision.

Third-Party Insurance

Third-Party Insurance

Shriram General Insurance provides Third-Party Insurance, also known as Liability Only Insurance. This insurance is mandatory as per the Motor Vehicles Act, 1988. It protects policyholders against legal liabilities arising from third-party property damage or bodily injury/death caused by their insured vehicle. In the event of an accident, this insurance covers the policyholder's legal liability to compensate third parties for property damage, medical expenses, accidental death, or disability caused. However, it does not cover damages to the insured vehicle itself.

Standalone Own Damage Insurance

Standalone Own Damage Insurance

Shriram General Insurance offers Standalone Own Damage Insurance as an optional add-on over mandatory Third-Party Insurance. This policy provides coverage for damages or losses to the insured vehicle caused by accidents, theft, fire, natural calamities (like floods or earthquakes), and malicious acts. With this insurance, policyholders are protected against repair or replacement costs incurred due to these events. However, it does not cover third-party property damage or injury liabilities.

Comprehensive Insurance

Comprehensive Insurance

We also provide Comprehensive Insurance, which combines both Third-Party Insurance and Standalone Own Damage Insurance into a single policy. It offers a comprehensive coverage package that includes protection against damages or losses to the insured vehicle as well as any third-party property damage or injury caused by the insured vehicle. Policyholders are covered for accidents, theft, fire, natural calamities, malicious acts, and third-party liabilities. With Comprehensive Insurance you also have the option to select Add-ons for extra coverage.

Factors to consider while choosing an Electric Bike Insurance

When it comes to choosing the right Electric Bike Insurance Policy from Shriram General Insurance, there are a few considerations to keep in mind.

Coverage options

Evaluate the coverage options provided by Shriram General Insurance for Electric Bike Insurance. Look for policies that offer comprehensive coverage against theft, accidental damage, fire, natural calamities, and third-party liabilities. Consider the specific coverage needs for your electric bike and choose a policy that provides adequate protection.

Premium affordability

Consider the premium amounts associated with each Electric Bike Insurance Policy. Compare the premium rates for different coverage options and ensure they fit within your budget. Factors such as the value of your electric bike, location, and riding history may affect the premium amount. Choose a policy that offers a balance between coverage and affordability.

Add-on covers

Explore the plethora of add-on covers we offer. These additional covers can enhance the protection provided by the base policy. Examples of add-ons may include Zero Depreciation Cover, Road Side Assistance, and Personal Belongings Cover. Assess which add-ons are relevant to your needs and consider their cost and benefits.

Frequently Asked Questions (FAQs)

This section deals with frequently asked queries on the types of Electric Bike Insurance offered by Shriram General Insurance.

What is Third-Party Insurance for electric bikes?

Third-Party Insurance provides coverage against legal liabilities arising from third-party property damage or bodily injury caused by your electric bike. It is a mandatory insurance in India under the Motor Vehicles Act.

What is Standalone Own Damage Insurance for electric bikes?

Standalone Own Damage Insurance is an optional insurance policy that covers damages or losses to your electric bike due to accidents, theft, natural calamities, fire, and malicious acts. It does not include coverage for third-party liabilities.

What is Comprehensive Insurance for electric bikes?

Comprehensive Insurance is a combination of Third-Party Insurance and Standalone Own Damage Insurance. It provides coverage for damages or losses to your electric bike as well as third-party property damage or bodily injury.

What factors determine Electric Bike Insurance rates?

Electric Bike Insurance rates depend on various factors, a few of them are listed below.

  • Model and make of the bike
  • Market value of the two-wheeler
  • Location where it is ridden
  • Rider's age and experience
  • Desired coverage

What types of coverage are offered under Electric Bike Insurance?

Electric Bike Insurance typically includes coverage for theft, accidental damage, fire, natural calamities (like floods or earthquakes), and third-party liabilities. Optional add-on covers may provide additional protection for accessories, zero depreciation, and roadside assistance.

Electric Bike Insurance coverage options

In this page, we will explore the different coverage options Shriram General Insurance offers for electric bikes. Whether you use your e-bike for commuting, leisure, or delivery purposes, having the right insurance in place is essential for peace of mind. Read ahead to learn more about the coverage options designed by Shriram General Insurance to safeguard your electric bike against unexpected losses and damages.

Electric Bike Insurance coverage options
  • What is Covered?
  • What is Not Covered?
01

Comprehensive Coverage for Electric Vehicles

Protection against any loss or damage incurred by your electric vehicle resulting from various natural and man-made calamities.

02

Coverage for Natural Disasters

Coverage includes fire, explosions, self-ignition or lightning, earthquakes, floods, typhoons, hurricanes, storms, tempests, inundations, cyclones, hailstorms, frosts, landslides, and rockslides.

03

Coverage for Man-made Disasters

Coverage encompasses riots, strikes, malicious and any other violent activities classified as man-made disasters.

04

Protection against Accidental Damages

Coverage includes theft, burglary, accidents caused by external means, and any damages that occur during transit by road, rail, inland waterways, lifts, elevators, or air.

05

Third-Party Personal Coverage

The insurance policy offers unlimited coverage for any liability you might have towards a third party due to accidental death/injuries or property damage caused by your electric vehicle.

01

Accident due to External Factors

This policy does not cover accidental loss or damage to the insured or any person riding an electric bike who is under the influence of intoxicating liquor or drugs, or due to willful negligence.

02

Extended Territory and Invalid license

Loss or liability occurring when the electric bike is used outside the permitted scope of use, or when it is ridden by a person without a valid license, is not covered by this policy.

03

Loss due to Nuclear/Radioactive Elements

Losses arising from nuclear or radioactivity-related incidents, as well as losses caused by war and related activities, are not covered under this electric bike insurance policy.

04

Other Accidental Losses

This Electric Bike Insurance Policy does not cover consequential loss, depreciation, wear and tear, mechanical and electrical breakdown/failure, or breakages.

05

Policy Deductibles

The insurance regulations mandate a compulsory deductible, which is an amount the insured must pay as part of their claim. It's important to note that these mandatory deductibles are the responsibility of the insured and are not covered by the policy.

Frequently Asked Questions (FAQs)

Here are some frequently asked questions about Electric Bike Insurance coverage.

What types of losses or damages are covered under Electric Vehicle Insurance?

Electric Vehicle Insurance typically covers losses or damages caused by natural calamities such as fires, explosions, earthquakes, floods, storms, and landslides. It also includes coverage for man-made disasters like riots, strikes, theft, and accidents caused by external means.

What is the third-party personal liability coverage provided by electric vehicle insurance?

Electric Vehicle Insurance offers unlimited coverage for any liability that you may have towards a third-party due to accidental death or injuries caused by your vehicle.

Is third-party property liability coverage included in Electric Vehicle Insurance?

Yes, Electric Vehicle Insurance includes third-party property liability coverage. In the event that your electric vehicle causes damage to another person's property, the insurer will offer compensation up to a specified amount.

Why is having Electric Bike Insurance important?

Electric Bike Insurance is important for several reasons. It protects your investment in the bike and provides financial coverage against potential losses or damages caused by accidents, theft, or natural disasters. It also helps cover any liability you may have towards third parties in case of accidents or injuries caused by your electric bike.

Compare Electric Bike Insurance Plans

Here is a table comparing Third-Party and Comprehensive Electric Bike Insurance.

Aspect Third-Party Electric Bike Insurance Comprehensive Electric Bike Insurance
Accident-related Damage teable_tick_iconteable_tick_icon
Damage Caused By Fire teable_cross_iconteable_tick_icon
Damage Caused By Natural Calamities teable_cross_iconteable_tick_icon
Damage Caused By Man-Made Calamities teable_cross_iconteable_tick_icon
Damage To Third Party Property teable_tick_iconteable_tick_icon
Injury/Death To Third Party teable_tick_iconteable_tick_icon
No Claim Bonus (NCB) teable_cross_iconteable_tick_icon
Fulfilling Legal Requirement teable_tick_iconteable_tick_icon
Add-On Covers teable_tick_iconteable_tick_icon
Which to choose?

Which to choose?

Comprehensive Electric Bike Insurance offers a higher level of coverage compared to Third-Party Electric Bike Insurance. With Comprehensive Insurance, you are covered for damage to your e-bike, theft of your e-bike, accidental damage, personal accident, third-party liability, medical expenses, and legal expenses. It also provides optional coverage extensions for added protection.

On the other hand, Third-Party Electric Bike Insurance only provides coverage for third-party liabilities. It does not cover damage to your e-bike, theft, accidental damage, or damages casued by natural/manmade calamities.

However, it's important to note that Comprehensive Electric Bike Insurance is typically more expensive than Third-Party Insurance due to the wider coverage it offers. The choice between the two will depend on your individual needs, budget, and level of risk tolerance.

Frequently Asked Questions (FAQs)

This section covers some frequently asked questions on Comprehensive vs Third-Party Electric Bike Insurance.

What is Comprehensive Electric Bike Insurance?

Comprehensive Electric Bike Insurance provides coverage for your own electric bike in addition to third-party liability. It offers protection against theft, accidental damage, and damage caused by natural and manmade calamities to your bike.

What is Third-Party Electric Bike Insurance?

Third-Party Electric Bike Insurance covers only third-party liabilities, such as damage to others' property or injury to another person caused by your electric bike. It does not protect your own bike.

Is Electric Bike Insurance legally required in India?

Yes, as per The Motor Vehicles Act of 1988, Third-Party Electric Bike Insurance is mandatory in India, while Comprehensive Insurance is optional.

Can I get additional coverage with Comprehensive Insurance?

Yes, Comprehensive Insurance offers optional add-ons such as Depreciation Waiver, Key Replacement, Consumables Cover, etc.

Does Third-Party Insurance offer a No-Claim Bonus (NCB)?

Third-Party Electric Bike Insurance does not provide a no-claim bonus. This feature is exclusive to Comprehensive Insurance.

What are the cost differences between these two types of insurance?

Comprehensive Electric Bike Insurance is typically more expensive due to its wider coverage, including protection for your bike and personal accidents. Third-Party Insurance is less expensive as it focuses mainly on liability to others.

Electric Bike Insurance Premium

A premium is a payment made to an insurer for the purchase of a policy. Shriram Electric Bike Insurance premium is generally calculated based on various factors, such as the policy chosen, cover types, add-ons and policy period. The following components significantly influence our Electric Bike Insurance rates.

Third-Party (TP) Premium

Third-Party (TP) Premium

According to the Motor Vehicles Act of 1988, Third-Party (TP) Insurance is a legal requirement. It covers liability for accidentally caused damages or injury/death to a third party and is calculated based on a bike's engine capacity.

Own Damage (OD) Premium

Own Damage (OD) Premium

The Own Damage (OD) Cover financially protects your electric bike against accidents, natural calamities, theft, fire, malicious acts, and man-made disasters. The premium amount may vary depending on the insurance company you choose.

Compulsory Personal Accident Cover

Compulsory Personal Accident Cover

In response to increasing two-wheeler accidents, the Indian government made Personal Accident coverage mandatory for all motor vehicle owners, with a maximum sum insured of Rs. 15 lakh.

Add-ons

Add-ons

To enhance your electric bike insurance, various add-ons are available. The premium for these depends on the specific add-ons you select, providing additional financial protection. At Shriram General Insurance, we offer useful add-ons that can complement your base coverage.

Frequently Asked Questions (FAQs)

Read ahead to learn answers to frequently asked questions on Electric Bike Insurance premiums.

How is the premium for Electric Bike Insurance determined?

Electric Bike Insurance premiums are calculated based on some of the following factors.

  • Policy type
  • Coverage selected
  • Add-ons
  • Policy's duration.

What role does the bike's make and model play in premium calculation?

The type and brand of your electric bike play a significant role in determining the cost of insurance. Premiums are usually higher for bikes that are more expensive or more powerful.

Are there any location-based factors influencing the premium calculation?

Yes, the location where you reside can indeed have an impact on the insurance premium for your electric bike. Areas that have a higher incidence of theft or accidents may result in higher premiums. Insurance providers consider the risk level associated with specific areas, and this assessment can influence the cost of insuring your electric bike.

Do add-ons add to the premium cost?

Yes, add-ons are optional features that enhance your coverage but may increase the overall premium cost.

Do different insurers have variations in how they calculate premiums?

Yes, different insurance companies may use their own algorithms and criteria to calculate premiums, which can result in variations in the cost of similar coverage.

Electric Bike Insurance eligibility and required documents

Who is eligible to purchase Shriram Electric Bike Insurance online?

  1. Any Indian aged 18 or above possessing a valid driver's licence.
  2. Ownership of an electric bike with a valid original Registration Certificate (RC) is a prerequisite for the convenient online purchase of Shriram Electric Bike Insurance.
  3. Our process is completely paperless, so there's no need for hard-copy submissions. However, you may need to provide certain digital documents, which we'll specify in the next section.

Documents required for Electric Bike Insurance claims

The following are some softcopy documents you may be requested to submit.

  • Driving Licence
  • Registration Certificate with Fitness Certificate
  • Optional Insurance Copy
  • Duly filled and signed Claim Form
  • Estimates, Bills, Payment Receipt, and Discharge Voucher
  • Signature ID proof (Insured)
  • FIR (If filed or necessary)
  • Customer's bank details with a cancelled cheque for NEFT claim payment
  • Customer's bank details (for Premium over 25,000/-)
  • Other documents (As requested by the claims team based on the vehicle type and accident severity)

Frequently Asked Questions (FAQs)

Below are commonly asked queries regarding Shriram General’s Electric Bike Insurance eligibility and required documents.

Who is eligible to purchase Shriram Electric Bike Insurance online?

Any Indian aged 18 or above possessing a valid driver's licence.

What is a prerequisite for the online purchase of Shriram Electric Bike Insurance?

Ownership of an electric bike with a valid original Registration Certificate (RC).

Do I need to submit hard-copy documents for this insurance?

No, the process is completely paperless. You'll only need to provide certain digital documents.

How to Buy or Renew Electric Bike Insurance

  • Buy Shriram Electric Bike Insurance Online
  • Renew Shriram New Electric Bike Insurance

You can purchase Shriram Electric Bike Insurance via our website/mobile app by following these three simple steps.

1

Step 1 :

You will be requested to share the following details.

  • Mobile Number & Electric Bike Registration Number
  • Vehicle Manufacturer & Model details
  • Year of Manufacture
2

Step 2 :

Next, we'll ask for your name, email ID, and address. In this step, you will also get to choose your desired policy cover and add-ons.x

3

Step 3 :

Finally, make the payment online using your debit card, credit card, or net banking. After the transaction is processed, you'll receive your Shriram Electric Bike Insurance Policy.

Renewing your insurance with us is a breeze! You can do it quickly and conveniently through our website or mobile app. Just follow these three easy steps.

1

Step 1 :

Enter the following details from your Registration Certificate (RC).

  • Year of Manufacture
  • Manufacturer & Model
  • Registration Number & State
  • Previous Insurance Policy Details
  • Change of Ownership Documents (if applicable)
2

Step 2 :

Choose the perfect electric bike policy and add-ons that suit your insurance needs. We offer a range of options to customise your coverage.

3

Step 3 :

Complete your renewal by making an online payment. We accept debit cards, credit cards, and net banking. Once your payment is processed, you'll receive your renewed policy in no time

Frequently asked questions

Still got questions? Dive into our FAQ section to get your queries answered.

How can I purchase Shriram Electric Bike Insurance?

You can purchase Shriram Electric Bike Insurance online through our website or mobile app in just three simple steps. Provide the required details, choose the policy cover and add-ons, and make the payment.

Can I customise my electric bike insurance coverage?

Yes, you can customise your electric bike insurance coverage by selecting suitable policy options and add-ons that meet your specific insurance requirements.

How can I renew my Shriram Electric Bike Insurance Policy?

You can renew your Electric Bike Insurance with us easily through our website or mobile app. Just follow the three-step process: enter the necessary details, choose your policy and add-ons, and make an online payment.

Can I renew my insurance policy if I have changed the ownership of my electric bike?

Yes, if you have changed the ownership of your electric bike, you can still renew your insurance policy. However, please provide the necessary change of ownership documents during the renewal process.

Electric Bike Insurance Add-Ons

We offer a range of Add-ons to enhance your electric bike coverage, providing comprehensive protection on all fronts.

Consumables

Consumables

This covers the cost of replacing items or substances in your insured vehicle that have limited life or are consumed during usage, such as bolts, screws, engine oil, and more.

Cover of loss of driver licence and registration certificate

Cover of loss of driver licence and registration certificate

If you lose your original driving licence or registration certificate, we provide compensation up to ₹500 or the actual expense to obtain a duplicate copy (whichever is lower).

Daily expense reimbursement

Daily expense reimbursement

If your vehicle is in a garage for more than three days for repairs covered by the policy, we will reimburse you for the cost of hiring alternative transport. This ensures that you can continue with your daily activities without any additional cost to you.

Hospital Daily Cash Allowance

Hospital Daily Cash Allowance

In case of hospitalisation due to an accident involving your insured vehicle, we provide a daily cash allowance of ₹1500 for a maximum of 30 days post-discharge.

Personal Belongings Cover

Personal Belongings Cover

If your personal belongings are damaged or lost while using your vehicle, we compensate you for the loss, including items like clothes and other personal belongings.

Motor Protection Cover

Motor Protection Cover

We provide the assistance of an advocate to guide and defend you in police and court proceedings arising from a motor accident involving your insured vehicle.

Personal Accidental Cover

Personal Accidental Cover

It is mandatory to have personal accident cover as per the law. This add-on provides coverage of up to ₹15 lakhs for bodily injury or death of the owner-driver in case of an unfortunate accident.

Road Side Assistance

Road Side Assistance

In the event of accidents or breakdowns, we offer immediate assistance, including breakdown support over the phone, tire repair service, battery jump-start assistance, and towing to the nearest network garage.

Zero Depreciation

Zero Depreciation

This add-on covers the depreciation costs that would usually reduce your claim amount during vehicle repairs. With this add-on, your claim amount remains unchanged by any depreciation costs.Exclusion- Loss or damage to Tyres and Battery of the insured vehicle.

Frequently asked questions

This section provides answers to frequently asked questions regarding Shriram’s Electric Bike Insurance Add-ons.

What are consumables in vehicle insurance?

Consumables refer to items or substances in the insured vehicle that have limited life or are fully/partially consumed during usage, such as bolts, screws, engine oil, and more. They need to be replaced to complete vehicle repairs after an accident.

Is Personal Accidental Cover mandatory?

Yes, as per the law, it is mandatory to have Personal Accident Cover. This add-on provides coverage of up to ₹15 lakhs in the event of bodily injury or death of the owner-driver as a result of an unfortunate accident.

What assistance is provided under Road Side Assistance?

Road Side Assistance offers immediate help in case of accidents or breakdowns. It includes breakdown support over the phone, tire repair service, battery jump-start assistance, and towing to the nearest network garage, among other services.

How to Claim Electric Bike Insurance

Experience a seamless process as you effortlessly initiate an Electric Bike Insurance Claim with us. It only takes three simple steps.

1

Step 1 :

Raise a claim There are multiple ways you can initiate a claim with us. You can visit the Shriram General Insurance website, dial our dedicated helpline at 1800-300-30000/1800-103-3009, or utilise the user-friendly MYSGI App. Rest assured, our dedicated customer service team will promptly reach out to you and provide guidance throughout the entire insurance claim process. Your convenience and peace of mind are our top priorities.

2

Step 2 :

Submit the required documents

  • Motor and chassis number
  • Details of the accident
  • Accident date and time
  • Vehicle’s kilometre reading
  • First Information Report (FIR) if applicable
  • Two-wheeler Inspection Address
3

Step 3 :

Claim Settlement If your documents are in order and your claim is approved, we will begin the process of transferring the applicable claim settlement amount to your account right away.

Frequently asked questions

You can find answers to commonly asked questions in this section.

How long does it take to settle a claim?

We strive to settle claims quickly and efficiently. The exact duration may vary depending on the complexity of the case and the required legal proceedings. Our team will keep you informed throughout the process.

What if my claim is rejected?

If your claim is rejected, our claims team will provide you with a detailed explanation. You can reach out to them for further clarification or assistance in appealing the decision.

Can I track the progress of my claim?

Yes, you can track the progress of your claim by contacting our customer service team. They will provide updates and answer any questions you may have.

Is FIR mandatory for raising an Electric Bike Insurance claim?

An FIR is mandatory only if a third party incurs injury, death or property damage as a result of an accident.

If the incident is not a criminal case, you can file an Electric Bike Insurance claim. Provide alternative supporting documents such as accident details, date and time, electric bike motor and chassis number, and vehicle's kilometre reading. Contact our customer service team for guidance on specific requirements based on the nature of the incident. They will ensure a smooth claim process.

Download Electric Bike Insurance Policy

Steps to download your Electric Bike Insurance Policy Accessing your Electric Bike Insurance Policy with Shriram General Insurance is a breeze with just two simple steps.

1

Step 1 :

To access your Shriram Two-Wheeler Insurance account, simply visit our website or use the MYSGI App. Once you're on the homepage, conveniently locate your account at the top by scrolling up.

2

Step 2 :

To obtain your policy document, enter your two-wheeler insurance policy number and click the "Download" button.

Frequently Asked Questions (FAQs)

Read ahead to find answers to frequently asked questions on downloading Shriram’s Electric Bike Insurance Policy.

Can I use the MYSGI App to download my Electric Bike Insurance Policy?

Yes, you can use the MYSGI App to download your Electric Bike Insurance Policy. Simply follow the steps listed on this page.

Can I access and download my Electric Bike Insurance Policy from any device?

Yes, whether you are using an internet-connected computer, laptop, smartphone, or tablet, you can visit the Shriram General Insurance website or use the MYSGI App to log in and download your policy document.

Is it expensive to insure an electric bike?

Yes, you can download your Electric Bike Insurance Policy multiple times if needed. Once you have accessed your account and downloaded your policy document, you can save it on your device and retrieve it whenever required. However, it's always a good practice to ensure you have the latest version of your policy document to have the most up-to-date information.

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