Ola Electric Scooter Insurance

On 15th August 2021, Ola launched its first electric scooter in India. Two models were released, Ola S1 and Ola S1 Pro. When planning to buy this bike, you must also choose the right Ola electric scooter insurance as it is a mandatory purchase. The price of the Ola scooter ranges between ₹85,099 to ₹1.10 Lakhs.

 

 Both the wheels have strong disc brakes and give you a comfortable ride. Being an electric scooter, it has zero emissions and thus does not harm the environment. The scooter can be fully charged within 6 hours and 30 minutes. You also get bluetooth and wifi connectivity that further enhances your ride. 

Below is the table containing the details of Ola electric scooter price and variants:

Each city has its own Ola electric scooter on-road price. Here are a few of them.

You can easily determine the premium amounts for each variant by accessing the Bajaj Markets website.

Here are the details about Ola electric scooter insurance plans.

1. Comprehensive Insurance

Comprehensive coverage will protect your Ola electric scooter in the case of an accident, theft, or loss due to artificial or natural disasters. All third-party liabilities are covered by the comprehensive bike insurance plan. The costs are somewhat more than third-party insurance, but the coverage is well worth the money because it protects your bike fully.

2. Third-Party Insurance

The Motor Vehicle Act of 1988 made third-party two-wheeler insurance mandatory for bike riders. If your Ola electric scooter causes loss or damage to a third-party person or property, your insurance company will cover the costs. Third-party insurance premiums are cheaper and more inexpensive since the coverage supplied is limited.

Here is the list of inclusions in Ola electric scooter insurance.

Comprehensive Insurance Inclusions

• Theft of the bike

• Accidental damage

• Damages caused by natural disasters

• Third-party liability

• Personal accident coverage

Third-Party Inclusions

• Legal liabilities

• Damage done to the third-party

• Physical injuries

Here is the list of add-on plans that you can acquire to boost the value of your Ola electric scooter insurance.

1. Zero Depreciation

The zero depreciation cover in bike insurance will assist you in recouping the cost of repairing your Ola electric scooter depreciated parts. This is a highly popular add-on cover and is best purchased if the replacement of the vehicle parts is pricey.

2. Roadside Assistance

You can purchase the roadside assistance add-on to help yourself in emergencies such as towing, battery jump starting, minor repairs, alternate transportation, accommodation, etc. If your electric scooter breaks down in the middle of the road and cannot be towed to the nearest garage, you can call the insurer for help. The company will ensure that you get the service at the earliest, and if needed, the insurer will also provide accommodation to you.

3. Return To Invoice

The return to invoice protection cover guarantees that if your Ola electric scooter is lost or stolen, you will receive the total amount of the vehicle (the on-road price of the scooter at the time of purchase).

4. Engine Protection

This add-on coverage will be your saviour if your bike’s engine gets damaged by water seepage.

5. Personal Accident Cover

This coverage covers any damage or loss that may occur while accessing or vaulting the Ola electric scooter.

Here are the steps to follow for the same.

• Step 1: To apply for Ola electric scooter insurance, you must select an insurer first.

• Step 2: Next, visit the firm’s website and choose a plan you wish to buy.

• Step 3: Fill in the application form with the required details.

• Step 4: After completing the form, submit it along with the supporting documents.

• Step 5: You need to pay the premium.

• Step 6: Following your payment, your Ola electric scooter insurance will be approved.

 

You may also acquire an Ola electric scooter insurance through the Bajaj Markets platform to ensure a seamless experience and save time. The Bajaj Markets does not provide insurance; several companies on the Bajaj Markets website provide bike insurance through the platform.

You can easily renew your Ola electric scooter insurance online by following the listed steps:

• Step 1: To renew your Ola electric scooter insurance, visit your insurer website.

• Step 2: Next, enter your previous insurance details.

• Step 3: Provide the asked information about your Ola electric scooter.

• Step 4: After completing the form, submit it.

• Step 5: You need to do the payment.

• Step 6: Following your transaction, your Ola electric scooter insurance will be renewed.

The Ola electric scooter insurance claim process works in two ways: Cashless and Reimbursement.

 

Cashless claims are a one-of-a-kind feature that allows you to have your Ola electric scooter repaired without spending any money. You may get your bike fixed at a network garage near you, and the insurer will pay the expenses.

 

On the other hand, if you opt for a reimbursement claim, you can take your Ola electric scooter to your preferred garage and then file a claim for reimbursement based on the original invoices. The claim amount will be delivered to you after subtracting the deductibles.

Here is the list of documents required for Ola electric scooter insurance claim.

• Ola electric scooter insurance documents

• Details about the Ola electric scooter

• Details of the occurrence

• A copy of the FIR in the event of theft

• Original bike repair invoices and receipts in case of reimbursement claim

Ola electric scooter insurance acts as a safety net, protecting you financially and legally from the unforeseen and very unpleasant event of an accident. Therefore, it is advisable that you must purchase insurance and save yourself from these situations.

 

However, safeguarding your precious two-wheeler is just as crucial as understanding the key specs of the bike. So, avoid putting it off to the last moment and head over to Bajaj Markets to get a suitable bike insurance plan now!