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Electric bikes or e-bikes, as they are popularly known, used to have a futuristic tone to it. But not anymore. In 2020, such bikes are common. They might not flood the roads yet, but brands are making them and people are buying them. In some cases, friendly regulations are also proving helpful to create awareness about this new way of commuting. Such bikes are stylish as well. For example, Revolt bikes have a stunning design. It would be difficult to distinguish the e-bike from a fuel-driven one just by looking at it. This article is all about Revolt Bike Insurance. Read ahead for details.
You must have come across the benefits of insuring your bike while going through the article. If you have missed the same, here’s a section that highlights these benefits directly. Note that these are generic benefits. For precise benefits, contact your insurer.
Riding a bike without insurance can get you in trouble in India. The police officers often ask for insurance papers. If you do not have a valid insurance policy, you will have to pay a fine. By insuring your vehicle online, you can avoid this fine. It just takes two minutes to buy or renew your bike’s policy online. Thus, do not ride without an active cover and avoid associated penalties.
Injury caused by the insured bike to a pedestrian can lead to legal hassles. Similarly, an out of control bike can damage someone’s property as well. A Third-party bike insurance cover insures you against such situations.
There are multiple ways due to which your e-bike can be damaged. It can be damaged due to vandalism, fire, or flooding. Worse, it can be stolen as well. An Own Damage bike insurance cover, that is a part of the Comprehensive Coverage, will insure you against such terrible situations.
An insurance cover is like a stress reliever. In case of damages to the bike, you simply have to call the insurer and they will take care of things. You do not have to worry about the repair costs. A good insurer ensures smooth claim settlement. Thereby, ensuring less tension and more satisfaction.
A few years ago, there was a lot of confusion over the regulatory aspect of e-bikes. Some were not needed to be registered and the mandatory insurance rule did not apply to them. But the updated Motor Vehicles Act requires e-bikes of a certain type to be registered and insured. Just like you have two options to insure a fuel-driven bike, you also have the following two options to insure an e-bike.
Such a cover insures the policyholder against liabilities that can arise in case a third party gets injured or a third party’s property gets damaged because of the bike. Not purchasing this cover can lead to monetary penalties as per the situation.
The above-mentioned plan offers a basic cover. With that, you can stay safe against penalties. But it does not insure your bike if it gets damaged. The all-round cover offers such a feature. It comes with an Own Damage Cover. Here, the insurer will not only cover third-party liabilities but also pay for repairs in case the insured bike gets damaged.
An insurance policy is like a contract. And every contract has its terms and conditions. The inclusions are a crucial part of the terms and conditions. They state the situations where the insurer is liable to cover the policyholder. Listed below are generic inclusions of a Comprehensive Two-wheeler Policy. For precise inclusions, please go through the respective Revolt Two-wheeler Insurance Plan’s Policy Wordings as they can vary from insurer to insurer.
Insurance in the form of Third-party Liabilities.
Insurance for the bike if it is damaged due to fire.
Insurance for the bike if it is damaged due to vandalism and riots.
Insurance for the bike if it is damaged due to natural calamities.
Just as the policy has inclusions, it also has exclusions. The insurer will not offer insurance cover in the following situations. Make it a point to check these exclusions in the Policy Wordings before buying. It is also a good idea to go through them before raising a claim.
No insurance cover if the policy has expired.
No insurance cover if the owner/rider was riding without a valid insurance policy.
No insurance cover for riding the Revolt bike in an intoxicated state.
No insurance cover for raising a claim against non-purchased add-ons.
No insurance cover for Consequential Damages.
Add-ons are an interesting feature of bike insurance. You can look at the add-ons as small and specific covers. They either offer services or prove helpful in receiving a better pay-out amount while settling claims. You have to pay extra to purchase each add-on. And they can only be bought with a Comprehensive Plan. All insurers might not offer the entire add-ons catalogue for e-bikes. It is best to check with the insurer in this regard. Here’s a generic list of bike insurance add-ons for your understanding.
Ideal for those who often ride pillion. This add-on offers Personal Accident Coverage to the person sitting behind the bike rider.
Bike parts depreciate over time. This is considered while settling claims. However, with the Zero Depreciation add-on, such costs won’t be calculated and you will receive a higher claim amount.
Get the invoice value of your bike in claim settlement for a stolen bike or in the case of damage beyond repair.
Apart from the ones mentioned above, you can also go for Consumables Cover, Loss of Key Cover, and Roadside Assistance Cover.
Here’s an overview of the bike insurance claim settlement process for Revolt Bikes.
Step 1: Let your insurer know about the incident.
Step 2: Share details and answer questions posed by the insurer.
Step 3: Submit documents if necessary.
Step 4: Comply with the claims executive and select either a Cashless process or a Reimbursement process.
Step 5: In a Cashless method, settle the claim by paying the deductibles and in a Reimbursement method submit all receipts and receive the money in your bank account.
Your interest in Revolt Bikes shows you know the power of technology. The right technology can be transformative. Just as technology has brought about a change in terms of fuel-driven bikes to electric bikes, it has also brought about a change in the form of online bike insurance. Acko is a digital-first insurer that offers bike insurance policies online. Here are some of the top benefits of insuring your Revolt bike with Acko.
Why waste time on filling forms and submitting documents when you can insure your bike in two minutes via Acko’s website and app? The process to insure your bike online is as easy and simple as ordering food from your mobile.
Zero Commissions ensure that the price of a policy is low when you purchase it directly from Acko. Also, being a digital-first insurance Acko spends less on physical infrastructure as compared to major traditional insurers. This creates a cost advantage that is transferred to the customers in the form of low premiums.
With a super responsive claims team, you can rest assured after buying Revolt Electric two-wheeler insurance policy from Acko. If you want to raise a claim, you can do it via the website. No hassles, total convenience.
Below are some of the most commonly asked questions about Revolt bike insurance:
If you are confused about insurance requirements, you can speak with your bike dealer or email your query on [email protected] with your bike’s model.
Bike insurance is crucial. Without it, you will have to pay a fine. Also, you will have to pay for repair expenses in case of damages.
Not all disasters are covered by insurers. For example, damage due to nuclear activities is not covered. You can check out the inclusions and exclusions of your e-bike’s policy for better clarity.
Insurance policies usually last for a year. This means the policy’s coverage is only valid for a year or during the time the policy is active. After that, you have to renew it. No bike insurance policy offers lifetime coverage.
Usually, such a service will not be provided unless you have a Roadside Assistance add-on that offers such kind of coverage. It is best to discuss this with the insurer. If not the insurer, the bike manufacturer might offer such a service. Revolt Bikes do offer such assistance via their app.
If the reason for bike damage is covered by the policy, the insurer will pay for it. There is no guarantee as such. Whether the insurer will pay or not depends upon the cover’s inclusions, exclusions, and terms and conditions.
Yes, such kinds of changes can be made easily while renewing the policy. You can also pick a different insurer in case you find a lucrative offer or are dissatisfied with the current one’s services.
In this case, the insurance policy shall cover the losses if the policy is active, the rider holds a valid Driving License and does not violate any rules and regulations. Other terms and conditions shall also apply while accepting and settling the claim.