Do You Need Insurance for an Electric Scooter?

Introduction

Electric scooters are all the rage among 2-wheeler riders, as it provides an option that saves money, is more technologically advanced and improves our environment. But just because they’re different from petrol scooters, doesn’t mean their use isn’t governed by the same laws as petrol scooters. Just like helmets are a must for electric scooter riders’ physical safety, insurance is a must for an e-scooter riders’ financial safety.  In this article, we will talk about the law’s view on e-scooters, insurance coverage for e-scooters, and how you can buy electric scooter insurance online.

What are the laws on E-scooters?

With growing demand for electric scooters, it becomes more important for people making the switch to electric scooters to know the rules around insurance.

As per the RTO and India’s Motor Vehicles Act, 1988, all bike or scooter owners must have insurance. E-scooters are no exception. Rules for Electric scooters are the same as petrol scooters in our country, and therefore, all the mandatories such as a valid Driver’s License, Vehicle Registration and insurance are a must have for anyone looking to ride an e scooter. 

Introduction to electric scooter insurance

In India, road safety is a major issue. Thousands of vehicular accidents occur all across the country, and astronomical losses in terms of vehicular damage are not uncommon. The insurance ecosystem has been put in place to protect customers from these very losses.

With the rise in demand, most insurance providers across the country have taken the progressive step of creating specific electric scooter insurance policies - with different options in terms of insurance coverage for e-scooters:

• Comprehensive Cover: This is the most recommended option for buying electric scooter insurance as it maximises insurance coverage for e-scooters. Comprehensive cover plans give you broad coverage - covering the overall settlement, including vehicle damage, third-party, the insured, and riders, if any, subject to terms and conditions. You can also pick from additional options like depreciation cover, break-down services and more, depending on the service provider’s offering.
• Third Party Cover: This is the bare minimum option of insurance cover you must have for your e-scooter, as per the Motor Vehicles Act, 1988. It gives you basic financial indemnity against damage to others or their vehicles or property. However, it does not cover medical expenses for the rider or own vehicle damage costs for the owner.
• Hybrid options: To bridge the gap between the Comprehensive Cover option and the Third Party Cover option, some insurance providers offer best-of-both-worlds options like ‘Standalone Own Damage Coverage’ or ‘Limited Time Comprehensive Cover’, where the comprehensive coverage wears off after a limited period of time and turns into a Third Party Cover for the remaining duration of the insurance cover.

Do you need insurance for an E-Scooter?

Since e-scooters rules are governed by the Motor Vehicles Act, 1988, insurance is mandatory for your e-scooter. Riding without insurance is considered a punishable offence, and if caught, you could be subject to a fine of ₹ 2,000, imprisonment up to 3 months and suspension of your driving licence.

To avoid this, you can purchase electric scooter insurance online, or directly with your trusted insurance provider.

At Ather, you can purchase Ather Battery Protect™, which is an extended 5 year battery warranty for the battery of the vehicle. However, this does not exempt you from having electric scooter insurance for your Ather e-scooter. There is a fundamental difference between insurance and warranty - an insurance policy is designed to keep your finances safe in case of an accident or other damage to your vehicle, while the warranty only covers a specific part of your vehicle.

Buying a good insurance cover option isn’t just about abiding by the laws. It provides you financial security, so a mishap or unavoidable accident does not eat into your savings. The ultimate gain from a good policy is peace of mind - so you can actually enjoy riding your fantastic Ather e-scooter without the worry about the financial ramifications of an accident constantly gnawing at the back of your head.

How to get insurance for your electric scooter?

Ather representatives at the Experience Centers can recommend you the best options for a worry free ownership experience of Ather electric scooters. One can also buy the insurance online. It’s always a great idea to compare the offerings and premium prices of several insurance providers before settling on one. Examine their coverage options and the electric scooter insurance price carefully, or just ask the team at your nearest Ather Space for their recommendations.

Conclusion

Electric scooter rules mandate that you must have at least a Third Party Coverage electric scooter insurance policy for your Ather electric scooter. But, for complete financial security and peace-of-mind, we recommend comprehensive insurance cover. While it does increase the electric scooter insurance price, it also helps you ride hassle-free.