Apollonia 
The electric bike market is rapidly growing, with a projected Compound Annual Growth Rate (CAGR) of 42.95% between FY 2020 and FY 2024. Despite government incentives to boost electric bike purchases, consumers often need more knowledge about essential considerations, such as selecting the right electric bike and obtaining suitable electric bike insurance.
Importance Of Electric Bike Insurance
Contrary to common misconceptions, obtaining electric bike insurance is affordable and crucial. Comprehensive coverage becomes imperative due to the costly components within electric bikes, which can significantly increase replacement and repair costs in the event of accidents. Claims are subject to terms and conditions set forth under the motor insurance policy. *
Factors To Consider When Buying An Electric Bike
For a successful electric bike purchase, several factors should be considered:
- Budget: Determine financial constraints as electric bikes can be a substantial investment.
- Warranty And Battery Life: Given the cost of replacing electric bike batteries, understanding warranty terms and opting for lithium-ion batteries for superior performance is crucial.
- Travel Range And Charging Time: Performance hinges on travel range and charging speed, with more expensive models offering over 100 kilometres of travel and fast charging capabilities.
- Reliability: Electric bikes are designed for short commutes, so their reliability for more extended trips should be carefully assessed.
- Electric Bike Insurance Quote: Given the substantial costs of electric bikes, obtaining motor insurance is advisable. Online purchase options often provide affordable quotes.
Saving Money On Electric Bike Purchases In India
While electric two-wheelers have a higher upfront cost, there are ways to save money:
Tax Advantages: Electric bikes enjoy lower GST rates, providing buyers with tax benefits and reducing the overall cost. **
Bike Insurance Policy: Unlike expectations, electric scooter insurance is more cost-effective than traditional fuel-powered two-wheelers. Online purchases can further reduce costs.
Registration Costs: Low-speed electric scooters may not require registration, saving money on registration fees. Electric bikes with specific power outputs and speed limits may not require a license.
Government Policies Supporting Electric Bikes
The Indian government actively promotes electric bikes to reduce pollution and dependence on imported fuel. Key initiatives include:
Electrification Mandate: The government aims to electrify all two-wheelers with a displacement capacity under 150cc by March 2025.
Incentives For Delivery Providers: In Delhi, the government incentivizes delivery service providers to switch to e-vehicles by offering up to ₹30,000 in incentives.
Elimination Of Road Tax And Registration Fees: Telangana and Delhi governments have waived road tax and registration fees for new e-bike purchases, with an additional incentive for discarding fuel-powered two-wheelers.
Charging Infrastructure: To address reliability concerns, the government plans to establish charging stations within a 3-kilometer radius, ensuring convenient travel experiences.
Concerns about do electric bikes need license in India add a practical aspect to the allure of electric bikes in India. The rule is simple: if your electric bike’s motor exceeds 250 watts or its top speed goes beyond 25 kmph, a driver’s license is a must. However, there’s a convenient exception— electric scooters without license in India are ones whose output is of 250 watts or a speed limit of 25 kmph. Adhering to these regulations ensures a smooth and legal experience for electric bike enthusiasts.
* Standard T&C Apply
** Tax benefits are subject to change in prevalent tax laws.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
