Electric scooters are getting more popular in India as citizens look for a convenient way to get to work, run errands and travel around town. However, with all of the safety concerns surrounding this new technology and when considering theft, there is a need to know the best insurance that will protect against losses pertaining to theft or third-party liability. If you own an electric scooter, you'll want to understand the insurance policies that cover them and the available types.
This article will cover everything you need about electric scooter insurance online policies.
What exactly are electric scooter insurance online policies?
Electric scooter insurance is the same as a standard bike insurance plan. Its primary goal is to financially protect you from harm or loss caused by third-party liabilities as well as your own damage. This insurance plan also covers theft, natural disasters, man-made disasters, and complete loss.
What are the types of electric scooter insurance policies?
Here are the types of e-scooter insurance policies that are available in the nation:
1) Third-party coverage
This insurance policy covers the insured against any third-party liability that may arise if the insured scooter damages or causes harm to any third-party or third-party property.
2) Own-damage coverage
This insurance policy covers the insured against any damage or loss sustained by the insured vehicle caused by any natural disaster, man-made events or theft.
3) Comprehensive coverage
This insurance policy offers both third-party and own-damage coverage. Apart from that, you can also include specific add-on covers that increase your base coverage.
E-scooter insurance coverage inclusions
Here are the inclusions in an electric scooter insurance online policy:
• Damage or loss sustained in a road accident.
• Damage or loss sustained due to vehicle theft
• Damage or loss sustained due to fire.
• Damage or loss sustained due to natural disasters.
• Damage or loss sustained due to man-made calamities.
• Damage or loss sustained by the driver in an accident (if personal accident cover is purchased)
• Damage or loss sustained by any third party by the insured car (if third-party liability cover is purchased)
E-scooter insurance coverage exclusions
Here are the exclusions in an electric scooter insurance policy:
• Damage or loss sustained by the insured vehicle (if the own-damage cover is not purchased)
• Damage or loss sustained when driving without valid paperwork.
• Damage or loss sustained when driving while intoxicated.
• Damage or loss sustained, which are consequential after an accident.
• Damage or loss sustained, which is intentional.
• Damage or loss sustained under conditions which are not covered by the policy.
The bottom line
As more people are riding electric scooters across the country, you can bet that insurance companies will be increasing offerings as they seek to tap into a potential growth area. For individuals looking to buy a vehicle, one of their first considerations will likely be insurance coverage. Even if a person is not concerned with loss due to theft or damage, they would probably need some kind of liability protection to cover the legal obligation set by the Motor Vehicle Act. Drivers must have at least a third-party insurance policy coverage while driving on Indian roads.
Disclaimer: The content provided is for education and informational purpose only, none of the information contained in our blog amounts to any form of opinion or advice. Please go through policy related documents carefully or consult an expert before making any insurance-related decisions.