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Know More About Two Wheeler Insurance

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Two-wheeler insurance is the coverage provided by the insurance company to the bike/ motorcycle or its rider against damages that may occur due to accident, theft, or natural disaster. Insurance for your bike may save you from the phenomenal costs arising due to any misfortunate happenings. Two-wheeler insurance offers protection to vehicles of all types i.e. personal, commercial, or mixed.

Why is it important to have two-wheeler insurance in India?

Indian roads are infamous for potholes and unpaved surfaces causing accidents and damages to the bike as well as the rider. Thus, a financial cover is mandatory to drive your bike/motorcycle on Indian roads. Two-wheeler insurance acts as a financial protector against damage to the vehicle, damage to third party property, injury to a rider, or any third person.

Personal Accident Cover

In misfortunate situations where the policyholder suffers partial or permanent disability or dies in the accident, the insurer pays a sum assured up to Rs. 1 lakh.
Financial Security

Financial security provided by the insurance company gives you relief in the financial aspect in case of any damage or theft of the vehicle.
Legal Protection

With so much uncertainty on Indian roads, you can meet with unexpected events any day. With legal coverage, you can protect yourself from issues such as fines and penalties.
Peaceful State of Mind

Peace is what we all are looking for. In worst-case scenarios like bike damage or theft, two-wheeler insurance can be just what you need to provide you peace of mind.

Salient Features of Two-Wheeler Insurance

Two-Wheeler Insurance provides financial security in case of damages caused by/to the vehicle or the policyholder by the insurance company.

Insurance helps you bear the financial burden in case of any damages done by/to your vehicle.
Cashless repairs offered by the network of garages listed by the insurance provider saves you from the burden on your pockets.
You customize additional coverage in your policy package as per your requirement.
Get NCB protection with two-wheeler insurance and affordable premium rates.
Two-wheeler insurance offers protection against natural calamities and manmade disasters like tsunami, flood, earthquake, landslide, riots, fire breakouts, terrorist activities, etc.

Types of Two- Wheeler Insurance

There are two types of coverage offered under our Two-Wheeler Insurance Policy which are as follows:

Third-Party Liability Insurance or Liability Cover
Comprehensive Policy or Package Policy

Third-Party Liability Insurance or Liability Cover:

Third-party liability is mandatory insurance as per the Indian Motor Act, 1988 which covers damage or loss caused by the insured vehicle to the third party or property. It also provides cover for the personal accidents of the vehicle owner. It is important to note that any damage to the insured vehicle will not be covered by the insurance provider.

Inclusions in Third Party Insurance

Third-Party Liability- In case of death or disability caused by the insured vehicle to the third party or person, a particular amount of sum assured is covered by the insurance provider.
Third-Party Property Damage- In case of damage caused by the insured vehicle to any property of the third person, damage covers up to Rs. 8 lakh are offered by the insurer.
Personal Accident cover- Personal accident cover is provided under two categories.
Personal accident cover provided to the bike owner in case of accidental death or partial/ total disability caused due to the accident by the insurer for a sum assured up to Rs. 1 lakh.
Financial coverage to a third party or person in case of accidental death or partial/ permanent disability due to the accident by the insurer for a sum assured up to Rs. 1 lakh.

Exclusions in Third Party Insurance

Any damage to the insured vehicle or policyholder incurred due to the accident will not be covered by the insurance provider.
Any damage or loss of the vehicle occurred outside the prescribed geographical area.
Loss or damage incurred due to war, nuclear attacks, or invasions.
Accidental loss or damage caused by the third party resulting in a consequential loss to the insured vehicle or rider.
Claims made under any contractual dispute or legal issues.

Comprehensive Two-Wheeler Insurance

Comprehensive two-wheeler insurance offers financial security in case of accidental damage or loss to the insured vehicle as well as to the third party by the insurance provider. This type of insurance covers the insured vehicle. If your vehicle gets damaged or stolen, then a comprehensive policy helps in dealing with financial stress incurred due to an unfortunate situation. It also provides accidental coverage to both the insured person as well the third party.

Inclusions in Comprehensive Insurance

Accidental damage or loss caused to the insured vehicle.
Compensation offered by the insurer if the vehicle gets stolen.
Financial liability offered to the third party in case of accidental damage or loss.
Damage caused to the vehicle due to natural or manmade disasters like earthquakes, tsunami, floods, war, terrorist attacks, strikes, fire breakouts, etc.

Exclusions in Comprehensive Insurance

Any mechanical wear and tear due to the aging of the vehicle.
Any form of a mechanical or electrical breakout.
Riding the vehicle without a valid driving license.
Driving under the influence of alcohol and toxic drugs.
Using a commercial vehicle for personal use.

Additional Coverage for two-wheeler insurance:

Add an optional cover to your comprehensive two-wheeler insurance with an extra premium cost to ensure maximum security for you and your vehicle.

Zero Depreciation or Nil Depreciation

Depreciable parts like rubber, plastic, metal, etc. are not covered under comprehensive insurance. It does not pay the complete repair or replacement cost of your bike’s depreciable parts. At the time of claim, this cost is deducted which is to be borne by you. This add-on covers the full cost of replacement or repair for depreciable parts except for tubes and tires

Engine Protector

Any damage incurred in the engine is not covered in the comprehensive insurance. Damage in the engine can occur due to leakage of lubricants, water clogging, or ingressions, etc. which can be protected with this add-on a cover. Repair or replacement of pistons, gearbox, shafts, connecting rods, etc. is also covered under the additional coverage.

Why should you choose your two-wheeler policy online with Policy Ghar?

Choosing the best coverage provider for your vehicle can be a tough task which is simplified by Policy Ghar. Choose your two-wheeler insurer from Policy Ghar and get the following benefits:

Compare the type of coverage provided by the insurer.
Compare Insurance Declared Value (IDV) and premiums.
Compare add- on coverage for additional protection.
Compare Cashless benefits in the network of garages offered by the insurer.
Easy and simple procedure.
Clear and transparent terms and conditions.
Get premiums at an affordable price.
Extensive support from expert insurance advisors.