Two Wheeler Insurance

An Easy and Simple Way to gather all the information about Two Wheeler Insurance

What is Bike Insurance?

Bike insurance is a legal contract between the bike owner & insurance company in which the insurer provides financial coverage to the bike owner against any loss or damages to the bike due to several unforeseen circumstances. The policy covers all types of electric bikes, scooters, mopeds from various unforeseen damages.

Types of Bike Insurance Plans

Broadly, there are 3 types of two-wheeler insurance policies offered by general insurance companies in India. See below for more information:

Third-Party Bike Insurance
Third-party bike insurance covers the policyholder against all the legal obligations causing damage to the third party in an accident or collision. This policy offers compensation for the damages/injuries caused to a third party/vehicle/person/property up to ₹ 7.5 Lakhs.
The Indian Motor Vehicle Act 1988 mandates anyone who owns a two-wheeler must have valid third-party bike insurance while riding on public roads.
Own-Damage Bike Insurance
Own-damage bike insurance is a standalone own-damage (OD) that covers the damages caused only to the insured bike due to theft, accidents, fire, etc.
For extensive protection, it is advisable to have this policy in addition to mandatory third-party insurance. Moreover, riders can enhance an own-damage two-wheeler insurance policy to get additional coverage.
Comprehensive Bike Insurance
A comprehensive bike insurance policy covers both third-party liabilities and own damages in a single policy. The policy protects the insured bike from several unforeseen circumstances, such as damages caused due to fire, natural calamities, theft, accidents, man-made disasters, and related adversities.
Additionally, it allows you to pay an extra premium to buy riders or add-ons to enhance the policy coverage.

Reasons to Buy Bike Insurance Policy

The need of a two-wheeler insurance policy is enumerated below:

Financial Protection
A bike insurance policy provides financial cover for accidental damage, theft, damages due to natural & man-made calamities, and third-party liabilities. Hence, it helps the bike owners to repair vehicle damages without burning a hole in their pocket.
Coverage to all Types of Two-Wheelers
All types of 2-wheelers can be covered against accidental damages including scooters, motorcycles, e-bikes, or mopeds.
Add-on Covers
Add-on covers or optional covers are offered at an extra premium to enhance the policy coverage. The common add-ons available are zero depreciation cover, NCB protection cover, roadside assistance cover, pillion rider cover, etc.
Cashless Garages
Cashless garage or network garage is a facility offered by the insurer to repair the damaged two-wheeler without paying any upfront cost. In case of damages to your own vehicle, you can opt for the nearest cashless garage and repair your insured two-wheeler.
Compulsory Personal Accident Cover:
Bike owners can also avail of personal accident cover of ₹ 15 lakh under their two-wheeler insurance policy. This mandatory add-on cover is available with both third-party and comprehensive bike insurance policies.

Frequently asked Questions about two Wheeler Insurance Plan

We know you are having a lot of doubts in your mind related to 2-wheeler insurance plan, but you do not worry as we are here to give an instant answer to your problem.

How I can check for the status of my 2-wheeler insurance plan?

Checking the status of the 2-wheeler insurance is very much easy. Follow all the steps below to have a quick idea about it.

Using your login details, login to the official website of insurance services provider
You can access all the services with the help of the mobile app

Is there any way to get the photo copy of the insurance policy?

Yes, you can easily have a photo copy of the insurance policy online. To get all the details you have to login to the official website of the insurance services provider.

How to get claim for the insurance?

To get the claim of your 2-wheeler insurance, you need to consult with the insurance services provider. In some of the case, you have to consult with the police.

What are the benefits of getting 2-wheeler insurance online?

Paying for the policy is very much easy with the help of the internet banking
While choosing 2-wheeler insurance online, then there will be less paper work.

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KYC Documents Required to Buy/Renew Bike Insurance

As per the recent guidelines, all the general insurance companies have to complete the KYC of the customers to sell their two-wheeler insurance policies. Here is a list of mandatory documents that you need to submit to buy or renew your 2-wheeler insurance policy: