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Lohia Bike Insurance

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Lohia Bike Insurance

Home / Two-wheeler Insurance / Lohia Bike Insurance

The electric two-wheeler industry in India is at a nascent stage. Despite that, there are some stunning electric bikes available in the market. From ultra-stylish to super convenient, there are lots of options available. Lohia Bikes is one such brand that offers good looking and utilitarian scooters. If you are looking to switch from a fuel-driven bike to a Lohia electric bike or already have one, then you might also want to consider buying all-round Lohia Bike Insurance.

The laws regarding electric bikes in India have been upgraded. Some territories (for example, Delhi) also offer incentives for such bikes. The industry is dynamic. Thus, any direct queries regarding Lohia Bikes or its insurance policy need to be discussed with the bike dealer and the insurance company, respectively. For example, if you are not sure if your electric bike must have mandatory insurance or not or how much does mandatory insurance cost, you can clarify it with the insurance company directly to avoid any confusion.

Benefits of buying Two-wheeler insurance for Lohia Bikes
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Purchasing all-around two-wheeler insurance for your bike has a long list of benefits. In short, such a policy helps to save money. Here are some benefits.

1) Liability Cover
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Injury to a third party or damage to their property can cause a lot of hassles. Without an insurance policy, you might have to face legal and financial consequences. However, with such a cover, your insurer offers you the much-needed assistance in such matters.

2) Cover for Repairs
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There are innumerable ways in which an electric bike can get damaged. You can damage it while riding. It can be involved in an accident. Calamities, both natural and man-made can cause trouble. Any of these will require you to repair your electric bike, which can be expensive based on the extent of the damage and the cost of the to-be replaced part. Without insurance, such repairs can be expensive. With insurance, you will just have to pay a fraction while the rest shall be taken care of by the insurer as per the policy’s terms and conditions.

3) Mental Peace
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Along with financial cushioning, a good insurance policy from a reliable insurer also offers the benefit of mental peace. With the insurer by your side, you do not have to worry about trivial things in case of an accident as the insurer will handle the damages to the bike along with other issues.

Insurance Plans for Lohia Bikes
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As electric vehicles were not mainstream a few years ago, the rules regarding them were not well-defined. Thus, it is better to clarify the same before riding the bike on public roads. You can reach out to [email protected] in this regard. Here’s an overview of insurance plans for two-wheelers in India.

1) Third-party Liability Cover
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You can buy this basic plan to insure yourself against third-party liabilities. Such liabilities can occur in cases where third parties such as pedestrians are injured by your insured bike. Another case could be where the insured bike has damaged someone’s property. As you are the owner of the bike, it becomes your liability to cater to those third-party needs.

With third-party bike insurance policy, the insurer will assist you in settling your third-party liabilities. This plan is economical and the premium for it is stated by the Insurance Regulatory and Development Authority of India (IRDAI).

2) Comprehensive Coverage
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The main drawback of the above-mentioned basic plan is that while it covers liabilities, it does not cover damages to the insured bike. This flaw is rectified by the Comprehensive Plan. It can be viewed as an upgrade over the basic plan.

This cover includes the basic cover plus covers damages to the insured bike. This makes the Comprehensive Cover wide-ranging and beneficial in case the bike is damaged and needs repairs. Repairing electric bikes can prove costly and the insurer’s help in this regard can be helpful.

What’s Covered in Lohia Bike Insurance (Inclusions)
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Inclusions of a Comprehensive Bike Insurance policy are crucial to understanding scenarios in which the insurer will come to your rescue. Such a list can differ from one provider to another. Thus, make it a point to go through the fine print. Here’s a list of inclusions that are usually a part of the Comprehensive Lohia Two-wheeler Insurance policy.

What’s Not Covered in Lohia Bike Insurance (Exclusions)
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The following list of exclusions will come in handy while understanding whether you should raise a claim for a particular situation or not. If the situation is included as an exclusion, it means that the insurer will reject the claim. These exclusions shall be mentioned in the Policy Wordings of your bike’s Comprehensive Insurance Plan. Here’s a common list of exclusions.

Add-ons for Lohia Bike Insurance
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You also have an option to go a step ahead and enhance your wide-ranging insurance cover with add-ons. As the name suggests, these are short policies that ‘add-on’ to the coverage. Note that these can only be added to a Comprehensive Plan, not to the Liability-only plan. You do have to pay an extra premium for such plans but they offer valuable services in exchange. The add-ons for electric bikes might vary from those for fuel-driven bikes. Here are some popular two-wheeler add-ons.

1) Zero Depreciation
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Your chances of a higher claim amount increase with this add-on as it does not calculate depreciation of bike’s parts while settling the claim request.

2) No Claim Bonus Protect
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You can raise a claim and enjoy the advantages of your earned renewal discount (No Claim Bonus) with this add-on.

3) Pillion Rider Cover
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Insure your regular bike buddy with this cover. It is a Personal Accident Cover for the pillion rider.

4) Return to Invoice
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Get the invoice value of your bike in case it is damaged beyond repair. Without this add-on, the insurer will offer the bike’s Insured Declared Value and not the higher invoice value.

5) Roadside Assistance
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Get help from the insurance company for situations where the insured bike breaks down on the road.

Claim Process:
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The claim process need not be riddled with hurdles. Digital-first insurers make the process transparent and convenient. Claims can be raised and settled easily via the online method. Here’s how to go about it.

Step 1: Visit the website and lodge a claim or call and let the insurer know about your desire to raise a claim.

Step 2: Share the details.

Step 3: Share documents or any other information requested by the insurance company or the claims inspector (supervising executive).

Step 4: Select whether you want to settle the claim in a Cashless manner or pay first and then reimburse the amount.

Step 5: Complete the formalities depending upon your chosen claim settlement process.

Frequently Asked Questions
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Here are some common queries related to electric bike insurance. For specific questions, please contact the bike dealer or the insurer.


Can the cost of two Comprehensive insurance policies purchased for the same bike model from the same bike dealer be different?

Yes, it is possible that the payable premium for two policies for the same bike model purchased from the same bike dealer be different. This is because one policy might have more add-ons than the other. There can be variances in the Voluntary Deductible as well.

How can I confirm whether my electric bike falls under the mandatory insurance category or not?

There can be some confusion when it comes to insurance for electric bikes. To be on the safe side, simply ask your bike dealer or contact an insurance company. Besides the mandatory aspect, consider Comprehensive Bike Insurance for better coverage.

I am planning to buy a second-hand electric bike, which I plan to use only on weekends. Do I need a Comprehensive Cover for it?

Choosing a Comprehensive Cover is a subjective matter. Overall, it will offer you a wide-ranging cover. For example, even if you are not planning to ride your bike often, it can still be damaged. And a Comprehensive Policy will be helpful in this regard.

Does buying an insurance policy for my electric bike mean that the insurer will pay for the bike’s repair work for all kinds of damages?

An insurance policy is bound by certain terms and conditions. If you fulfil those terms and conditions, the insurer shall pay for the damages. For instance, if the event for which you want to raise a claim is mentioned as an inclusion in your policy, then the insurer should cover it.

I Just want to buy the Zero Depreciation Add-on. Is it possible?

No, it is not possible to only buy add-ons. They are not standalone policies. Add-ons need to be purchased along with a Comprehensive Two-wheeler Plan.

Will my insurance company help me with maintaining my electric bike?

Usually, insurance companies come in the picture when the insured bike gets damaged and needs to be repaired. Expenses made for regular bike maintenance such as oil change and polishing are not covered by an insurance policy unless specified otherwise. 

I do not like the idea of paying insurance premium every year. Can I be done with a one-time payment?

Currently, a lifetime two-wheeler insurance policy is not available.

Who decides the Third-party Premium for electric bikes?

The Third-party Premium for electric bikes is decided by the Insurance Regulatory and Development Authority of India.

I have not purchased bike insurance online previously. Can I do it on my own or do I need the help of an expert like a legal advisor or an accountant?

Buying and renewing two-wheeler insurance is simple. If you can order food online or make basic banking transactions online, you can also buy insurance easily. In case you need help, you can call the insurer’s support team for real-time assistance.

What happens if I buy a policy in Mumbai but the accident takes place in another city?

The insurer will offer insurance coverage as per the policy’s terms and conditions.