LightSpeed Electric Bicycle INSURANCE

Purchasing an electric vehicle is as exciting as purchasing a regular vehicle, if not more so. An electric bicycle has many electronic components that differentiate it from a regular bicycle, thereby increasing the need to protect your bicycle with an insurance. Having a bicycle insurance in India is all the more important because the chance of theft is quite high in crowded zones across the nation. The cost of getting an electric bicycle insurance in India by itself is quite low. And this inexpensive investment can now be made using the LightSpeed website itself. We will handle all the tedious paperwork involved in getting your electric bike an insurance cover within no time. Having looked far and wide for the very best ebike insurance, LightSpeed has collaborated with Perilwise to help you protect your electric bicycle against theft, accidental damage, and more.

The policy protects against ‘Accidental damage to the e-cycle’, ‘Liability for third-party’ and ‘Personal accident’.


A) Loss of or Damage to the LightSpeed E-cycle caused by:

  • by fire explosion self-ignition or lightning;
  • by burglary housebreaking or theft;
  • by riot and strike;
  • by an earthquake (fire and shock damage);
  • by flood typhoon hurricane storm tempest inundation cyclone hailstorm frost;
  • by accidental external means;
  • by the malicious act;
  • by terrorist activity;
  • whilst in transit by road rail inland- waterway lift elevator or air;
  • by landslide rockslide.

provided that the liability of the insurance company in respect of loss or damage to any one vehicle in any one period of insurance will not exceed the sum insured set against such vehicle in the schedule.

B) Personal Accident Cover: [Rider of the Vehicle – Named Basis]

Capital Sum Insured: Rs. 1 lakh

  • 100% of CSI for Death, Loss of Two Limbs or sight of both eyes or one limb and sight of one eye.
  •  50% of CSI for Loss of one Limb or sight of one eye.
  • 100% of Permanent Total Disablement from injuries other than named above.

Geographical area: India
Excess: 0.5% of the claim amount subject to a minimum of Rs.2500/- for each and every claim
Insured’s Declared Value / Insured Value: 95% Invoice Value

  • Limitations as to Use / Exclusions
  • consequential loss, depreciation, wear and tear, mechanical or electrical breakdown failures or breakages ;
  • damage to Tyres and Tubes unless the vehicle insured is damaged at the same time in which case the liability of the company shall be subject to a deduction for depreciation.
  • loss of or damage to accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time; and
    any accidental loss or damage suffered whilst the insured or any person driving the vehicle with the knowledge and consent of the insured is under the influence of intoxicating liquor or drugs.
  • The policy covers the use of the vehicle for any purpose other than Hire or reward, Carriage of goods other than personal luggage, organized racing, Pacemaking, Speed testing, Reliability Trials, Any purpose in connection with Motor Trade. Outside India.

Special Conditions

  • The Pedal Cycles / e-Bicycle should be securely locked when left unattended.
    Claims procedure

In case an unfortunate loss covered by the policy occurs we request you to take the following steps to get prompt service
1. Intimate Insurance Company at “Claims Hub Chennai: Motor OD-Hub, Regional Office, # 134, Greams Road, Chennai – 600006. Tel: 044 28291204 / 18004252363″

2. If there are any third party injuries/deaths/ theft of vehicle make sure to inform the nearest Police Station about the accident and also full details of injuries/deaths or damage to any Third Party Property as the case may be.

3. Contact the nearest Office of ‘United India Insurance Company Limited’ or contact Perilwise at 044-24765674 or at
Please keep the following details handy while intimating a claim
a) Policy Number
b) FIR must for Theft, Burglary and TP claims.
c) Repair estimate
Basic claim Documents
1. Duly filled and signed claim form
2. Purchase Invoice
3. Policy Copy
4. Repair estimate
5. Copy of police FIR / panchnama is required for TP injury/death / property damage
6. Copy of FIR lodged at the nearest police station for Burglary/Theft
7. No trace report confirming that the stolen vehicle is not traceable for Burglary/Theft
8. Subrogation cum Indemnity on judicial stamp paper for Burglary/Theft
9. NOC from financer, if applicable

Get in touch with LightSpeed Customer Care on +91-9512025250 or Perilwise Insurance Broking Pvt Ltd – Ph: 044-24765674 – Email: or United India Insurance Company Limited’ Claims Hub Chennai

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