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Ola Electric entered the Indian electric scooter segment with its impressive range of vehicles, including the cool-looking Ola S1 and Ola S1 Pro. If you have purchased or thinking of buying one of this fantastic electric scooters, you should insure it with an insurance plan that offers wide-ranging benefits. Here are the details of Ola Electric bike insurance and the benefits of online electric bike insurance.
The purpose of insuring your electric scooter is to protect yourself against financial loss arising from third-party liabilities and damages incurred by your scooter. Therefore, it is important to choose Comprehensive Insurance since it comes bundled with third-party bike insurance (Third-party Liability Plan) and Own Damage (OD) cover. The latter provides financial security against damages arising from accidents, natural and man-made calamities, fire, etc. It also covers vehicle theft and damages beyond repair (total loss). You should also consider adding add-on covers to enhance the base plan’s coverage.
Get insurance for Ola Bike Models/Variants: Ola S1 and S1 Pro Insurance
Here are the main types of bike insurance plans for Ola Electric scooters.
To ride an Ola electric scooter in India, you must insure the scooter with this type of insurance plan since it is mandatory as per The Motor Vehicles Act, 1988. The plan provides financial protection against third-party liabilities that include damages to their vehicle or property or injury/death of a third-party caused by the insured scooter. However, it does not cover damages to your electric scooter.
For wide-ranging benefits and coverage for your electric scooter, you should opt for this plan since it includes both Third-party Liability Plan and Own Damage (OD) cover components. The OD component provides a financial shield against damages to your electric scooter and losses incurred by your vehicle. The policy covers damages due to an accident, man-made or natural calamities (flooding, rioting, etc.), fire and even offers coverage in case of vehicle theft. You also have the option to include add-ons to increase the coverage.
Here are the coverage details of the Comprehensive Plan for Ola Electric scooters.
Damages to the third-party vehicle or property
Damages to the Ola scooter in case of an accident
Coverage for demise or injury to a third person
Damages caused due to flooding, earthquake, etc.
Damages caused due to riots, vandalism, etc.
Theft of the scooter
Damages that are not repairable (total loss)
Note: It is mandatory to buy the Personal Accident (PA) cover separately when you purchase or renew the insurance plan. It offers financial protection to the policyholder in case of death or disability caused by accident.
Here are the exclusions under the Comprehensive Bike Insurance Plan for Ola Electric scooters.
Riding the Ola scooter without valid documents
Damages caused due to negligence or illegal racing
Damages caused due to regular wear and tear over time
Riding the bike under the influence of intoxicating substances
Damages caused outside the specified geographical limits
Damages caused due to mechanical or electrical failure
Here are the add-ons that you can purchase with the Comprehensive Plan for Ola Electric scooters subject to availability.
Zero Depreciation Cover
Engine Protection Cover
Roadside Assistance Cover
Outstation Emergency Cover
Personal Belongings Cover - Theft/damage
Key Protect Cover
Here is why you should insure your Ola Electric scooter with ACKO bike insurance.
Being a digital insurance company, we follow the direct-to-customer approach; hence, there are no middlemen. This results in lower operating costs. These savings are passed on to you through low-cost bike insurance plans.
Claims for negligible damages such as dents are settled within a few hours. You can get your electric vehicle repaired at a garage of your choice. For significant damages, our support team shall guide you through the entire process.
Raising a claim against your policy is easy and hassle-free. Visit our website or mobile app to access your account and the policy, answer a few questions, upload pictures of the damaged vehicle to submit your claim.
Here are the steps you need to follow to register your claim with ACKO.
Step 1: Visit our website or mobile app and access your account.
Step 2: Against your policy document, click on “Claim Now”.
Step 3: Answer a few questions about the damages and upload photos of the damages to the Ola Electric scooter to file your claim.
ACKO shall settle minor claims within a few hours. As for significant damages, our support team will help you with the process for a smoother experience.
Also, read: Electric Bike Insurance
Ours is an online platform; hence, you need not fill out paperwork or submit physical documents to insure a two-wheeler. All you need to do is visit our website or download our mobile application and provide a few details of your scooter. You can choose the type of insurance plan for the Ola Electric scooter and pay the premium online to insure your electric scooter instantly.
For wide-ranging benefits and wholesome insurance coverage, it is better to choose Comprehensive Insurance since it includes the mandatory Third-party Liability Plan and Own Damage (OD) cover. You also can select valuable add-ons to further increase the coverage of the base plan.
At ACKO, you don’t have to submit physical documents to insure your Ola electric scooter. The process is completely paperless.
Yes, you can buy bike insurance for a brand new Ola Electric scooter from ACKO. Visit our website or mobile app, and select a quote on a brand new two-wheeler. Select the plan as per your needs, pay the premium and get your brand new Ola Electric scooter insured at ACKO.