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Two Wheeler Insurance

Two Wheeler Insurance, also known as bike insurance is a type of insurance cover for your motorbike. It provides complete protection against damages occurring to you and your motorbike via third party liability, natural and man-made disasters, theft, accident, etc. A comprehensive two wheeler insurance plan is a great option to protect a motorbike at all times.

Advantages of Two Wheeler Insurance Policy

  • Starting Policy Rate
  • Pre-negotiated rates for you starting from 600
  • Discount on Policy
  • Up to 80%* discount on premium with a no-claim bonus
  • Owner Cover
  • Owner cover (personal accident cover) up to 15 lakh in case of a bike accident
  • Stolen Bike Cover
  • Covers you against financial hits due to a stolen bike

    Two wheeler insurance buying advantage from Coverfox

    A good bike insurance plan helps you ensure a safe ride every single time. Is two-wheeler insurance your priority? You've come to the right place!

    Coverfox gives you the best insurance policies at the lowest premiums. Our expertise in online two wheeler insurance will help YOU get a policy in 5 minutes or less. Choose between different insurers for your perfect policy. Don't gamble on your bike or loved ones' safety - compare policies with most necessary insurance add-ons. What's more? We have a 95% Claims Assistance Ratio - Our advisors are ready to help you in every step of your bike insurance journey.

    What is Two Wheeler Insurance?

    Two-wheeler insurance is a type of motor insurance applicable only to motorbikes/two-wheelers. It covers damages caused to a two-wheeler and its riders arising out of road accidents, theft or natural disasters, etc.

    • The Motor Vehicles Act, 1988, introduced the concept of two-wheeler insurance in India. The Insurance Regulatory Development Authority of India (IRDAI) regulates all motor insurance products in India.

    • Vehicles running on roads in the country without a valid insurance policy are liable to attract heavy penalties. Hence, every vehicle owner must hold a mandatory third-party liability cover, the minimum coverage offered on car insurance, including two-wheeler insurance.

    It is crucial and necessary to have an insurance policy. It provides financial protection against unfortunate accidents that may damage the insured vehicle, third-party property, and injure the rider, pillion, or pedestrians. With a Two Wheeler Insurance Policy:

    • You Have No Financial Stress: A two-wheeler insurance policy offers you a financial shield against theft or damages caused by your vehicle.

    • Legal Protection: As it is mandatory to possess an insurance policy to ride on Indian roads, make sure you have a photocopy of valid insurance policy at all times to save yourself from paying the penalty.

    • You Get a Personal Accident Cover: The insurance company covers the insured up to the sum of Rs.15 lakh, which is payable if the policyholder suffers total permanent disability or dies an accidental death.

    • You Have Peace of Mind: Since you know you have financial protection against bike accidental damage repair costs, you certainly have peace of mind.

    Salient Features & Benefits of 2 wheeler insurance

    Here are the salient features and benefits of a two-wheeler insurance policy:

    • Two-wheeler insurance comes under the motor insurance category that is a part of the general insurance industry.

    • A two-wheeler insurance policy offers policyholders financial coverage against theft or damage incurred to or by your insured two-wheeler.

    • Without a valid bike insurance policy, you have to bear the entire financial burden in the case of loss or damages arising from an accident caused by your two-wheeler.

    • Two Wheeler Insurance policies also offer coverage against certain specific instances of natural calamities and human-made disasters like storms, earthquakes, landslides, strikes, riots, terrorist activities, explosions, theft, etc.

    • You will be eligible for the pre-decided sum assured in such occurrences, as mentioned in your valid bike insurance policy.

    • To avail of these benefits, the policyholder has to pay a predetermined premium over a certain period to the insurance company.

    • Personal Accident Coverage on bike insurance extends to up to Rs.15 lakh in case of death/disability caused to the insured due to an accident.

    • Available on cost-effective pre-negotiated premium rates, starting from an amount as small as Rs.600.

    • Some insurance companies offer up to 70% discount on premium with a no-claim bonus on their two-wheeler insurance policies.

    Types of Two-Wheeler Insurance in India

    There are two types of two-wheeler insurance policy:

    Third-Party Liability Insurance

    Third-party liability insurance is mandatory in India as per the law. This policy covers only the damages or losses caused by the insured bike to the third party or property. It also provides personal accident cover for the bike owner. However, none of the insurers will cover any loss, damages incurred, or theft of the insured bike.

    Comprehensive Policy

    To protect your two-wheeler completely, you must opt for a comprehensive two-wheeler insurance policy. It provides complete financial protection against ‘own damage’ and any third-party loss or damages caused by the insured vehicle. You don't have to worry if your two-wheeler gets stolen, as a comprehensive policy also covers bike theft.

    Best Two Wheeler Insurance Plans in India 2020

    Best TWO WHEELER INSURANCE PLANS PERSONAL ACCIDENTIAL COVER Cashless Garages Claim Settlement RATIO THIRD PARTY DAMAGE POLICY TERM NO CLAIM BONUS
    Bajaj Allianz Two Wheeler Insurance Rs 15 Lakh 4500+ 62% Covered 1 Year Availability Yes
    Bharti AXA Two Wheeler Insurance Rs 15 Lakh 5200+ 75% Covered 1 Year Availability Yes
    Digit Two Wheeler Insurance Rs 15 Lakh 1000+ 76% Covered 1 Year Availability Yes
    Edelweiss Two Wheeler Insurance Rs 15 Lakh 1500+ 145% Covered 1 Year Availability Yes
    HDFC ERGO Two Wheeler Insurance Rs 15 Lakh 6800+ 85% Covered 1 Year Availability Yes
    Iffco Tokio Two Wheeler Insurance Rs 15 Lakh 4300+ 87% Covered 1 Year Availability Yes
    Kotak Two Wheeler Insurance Rs 15 Lakh 1300+ 74% Covered 1 Year Availability Yes
    Liberty General Two Wheeler Insurance Rs 15 Lakh 4300+ 70% Covered 1 Year Availability Yes
    National Insurance Two Wheeler Rs 15 Lakh 3200+ 127% Covered 1 Year Availability Yes
    Oriental Bike Insurance Rs 15 Lakh 3100+ 122% Covered 1 Year Availability Yes
    Reliance Two Wheeler Insurance Rs 15 Lakh 430+ 85% Covered 1 Year Availability Yes
    SBI Two Wheeler Insurance Rs 15 Lakh 16000+ 87% Covered 1 Year Availability Yes
    Shriram Two Wheeler Insurance Rs 15 Lakh 2000 69% Covered 1 Year Availability Yes
    TATA AIG Two Wheeler Insurance Rs 15 Lakh 5000 70% Covered 1 Year Availability Yes
    United India Bike Insurance Rs 15 Lakh 2000 120% Covered 1 Year Availability Yes
    Magma HDI Two Wheeler Insurance Rs 15 Lakh 5200+ 90% Covered 1 Year Availability Yes
    ICICI Lombard Two Wheeler Insurance Rs 15 Lakh 4000 77% Covered 1 Year Availability Yes
    Royal Sundaram Two Wheeler Insurance Rs 15 Lakh 3300 95% Covered 1 Year Availability Yes

    Last Update: Table Updated On 5 October 2020

    Disclaimer: The above information has been sourced from the Insurance Company's Website.

    Best Two Wheeler Insurance Companies in India 2020

    Best 2 Wheeler Insurance Companies Add-ons Cover Claim Settlement
    Bajaj Allianz Two Wheeler Insurance Company
  • 24x7 Spot Assistance
  • Zero Depreciation Cover
  • Personal Accident Cover for Pillion Rider
  • Following the completion of repairs at a network garage, the insurer will directly pay the garage.
  • As stated in the policy, the policyholder has to pay the excess, depreciation value, salvage, etc., as mentioned by the surveyor.
  • For reimbursement claims, the policyholder needs to submit the relevant documents to the insurer after repairing it.
  • Bharti AXA Two Wheeler Insurance Company
  • For New Bike: It is 5-year TP, 1-year OD + 5-year TP, and 5-year OD + 5-year TP.
  • For Old Bike: 1-year TP, 1-year OD + TP, 2-year OD, 2-year OD + 2-year TP, and 3-year TP + 3-year OD.
  • Depreciation Cover
  • Upon receipt of all the necessary claim documents, original repair invoice, satisfaction voucher/discharge voucher, and NEFT details, the company would initiate the claim settlement process.
  • A bike insurance claim needs to be reported right away after the incident/accident. In the case of total theft claims, police and insurer’s intimation must be within 24 hours.
  • HDFC ERGO Two Wheeler Insurance Company
  • Zero Depreciation Cover
  • Emergency Assistance Cover
  • share with the nearest network garage.
  • The surveyor will survey and assess all damages/losses.
  • Complete the claim form and provide the related documents.
  • The policyholder will, through SMS/Emails, at each stage of the claim.
  • After the two-wheeler is ready, pay the claim’s share consisting of compulsory deductible, depreciation, etc. to the garage and drive off. The insurer will settle the balance directly with the network garage.
  • After claim intimation, all damages/losses would be surveyed and assessed by a surveyor.
  • Submit the claim form with the documents mentioned in the document form.
  • Fulfilment of claims following receipt of complete documents
  • Claim payment would be via NEFT (if opted) or cheque.
  • Reliance Two Wheeler Insurance Company
  • Nil Depreciation
  • Daily Allowance Benefit
  • EMI Protection
  • Helmet Cover
  • Step 1 - Lodge a claim with the insurer and submit claims documents
  • Step 2 - Vehicle inspection
  • Step 3 - Liability Confirmation
  • Step 4 - Vehicle Delivery Source: Official website of Reliance General Insurance
  • Liberty General Two Wheeler Insurance Company
  • Depreciation Cover
  • Consumable
  • GAP value cover
  • Roadside Assistance cover
  • Engine safe cover
  • Step 1 - Claim registration
  • Step 2 - The insurer will organize a survey inside city limits within 24 hours and outside city limits within 48 hours.
  • Step 3 - After moving the vehicle to a garage, the policyholder must submit necessary documents at the garage for the surveyors to verify.
  • IFFCO Tokio Two Wheeler Insurance Company
  • Personal Medical Cover
  • Zero Depreciation
  • In the event of an accident, etc. As stated in the policy, the claim immediately.
  • For total theft claims, the policyholder must intimate both the police and the insurer within 24 hours of the incident.
  • ICICI Lombard Two Wheeler Insurance Company
  • Electrical/non-electrical accessories
  • The policyholder can also cover the bi-fuel system, such as CNG.
  • For a motor insurance claim, one can avail cashless facility for repairing the two-wheeler in any of the company’s network garages.
  • In case the vehicle is serviced in a garage outside the purview of the company’s network, then the policyholder can claim reimbursement of expenses.
  • Universal Sompo Two Wheeler Insurance Company
  • Engine Protector Motor OD
  • NCB Protector Motor OD
  • Depreciation Waiver/Nil Depreciation
  • Return to Invoice
  • Daily Cash Allowances Benefit
  • Insurance at the manufacturer selling price
  • Loss of Driving License/ Registration Certification
  • Additional Accidental Injury Compensation for Owner driver
  • If the vehicle meets with an accident or injures a third-party or damages third-party property, notifying the insurance company immediately is a must. The insurer’s claims executive shall get in touch with the policyholder and guide them on the procedures and documents necessary to process.
  • United India Two Wheeler Insurance Company
  • Third-party liabilities
  • Provides personal accident cover
  • Get in touch with the policy issuing office of the insurer immediately.
  • For service accidents, including fire/riot losses
  • In case there are any third-party injuries/deaths, the individual
  • After completion of all the formalities, the policyholder can move/tow the vehicle to an authorized workshop
  • Ensuring the non-commencement of repair work until the final surveyor verifies the claims is a must.
  • On completion of the repairs, the policyholder needs to submit the cash bills for partial loss claims.
  • Oriental Two Wheeler Insurance Company
  • Accidental Loss
  • Liability to third parties
  • Personal accident cover
  • The documents required for processing claims would differ depending on the kind of incident leading to the claim. For filing a damage claim, some of the documents required would be - duly-filled claim form, driving license original with xerox copy, bills & cash memo of repairs, etc.
  • New India Assurance Two Wheeler Insurance Company
  • Loss or damage to accessories fitted in the two-wheeler
  • Personal accident cover under private car policies for:
  • 1) passengers 2) paid driverLegal liability to employees
  • Legal liability to non-fare paying passengers in commercial vehicles
  • Submit a duly-filled claim form, copy of registration certificate, and driving license of the vehicle's driver at the accident’s time to the insurer.
  • The two-wheeler will be surveyed by a surveyor, who will submit his/her report to the company.
  • Final bills/cash memos need to be submitted, duly signed by the insured.
  • Salvage of the damaged parts may have to with the insurer following approval of the claim.
  • National Insurance Two Wheeler Insurance Company
  • The policyholder can avail additional cover for loss of accessories, legal liability to paid driver, personal accident to the occupants, and increased legal liability to third-party property damage for up to Rs 7.5 lakhs. The insurer provides the provision of No Claims bonus for claims-free experience.
  • Submit duly-filled claim form to the policy issuing office and documents required/asked for by the insurer.
  • The company would appoint a surveyor for inspection.
  • The payment of claims to the policyholder as a full and final settlement.
  • Magma HDI Two Wheeler Insurance Company
  • Depreciation Reimbursement
  • Return to Invoice
  • Protection of NCB
  • Basic Roadside Assistance
  • In the event of a claim, policyholders must approach MHDI through phone, email, or letter/fax.
  • They would need to submit a duly-completed claim form at one of the company's branch offices. Once the insurer receives the claim form and supporting documents, the company will initiate the claim settlement process.
  • Disclaimer: The above information is available from the Insurance Company's Website.

    Two-Wheeler Third Party Liability or Liability Cover

    It is a third party policy that covers any legal liability cover, which may be caused by the insured bike. A third party bike insurance provides financial protection to you in case of damages or injuries caused by your two-wheeler to another person or their property. It is the necessary and mandatory bike insurance policy as per the Motor Vehicles Act, 1988.

    Coverage of Two Wheeler Liability Cover Only are:

    • Third-party Liability: Unlimited Liability cover in case of death or bodily injury to a third party.
    • Third-party property damage: It covers damage to third party property with an amount up to Rs.7.5 lakh.
    • Personal Accident Cover in Bike Insurance: A third-party policy covers a compulsory owner-driver and offers an optional pillion rider cover.
    • Owner-Driver Personal Accident Cover: A Sum Insured of Rs.15 lakh for the owner-driver in case of a permanent total disability or an accidental death on a premium of Rs.50.
    • Optional Pillion Rider Accident cover: Pillion rider personal accident cover up to the sum insured of Rs.1 lakh is available on paying an additional premium.

    Personal Accident Cover Table

    ACCIDENTAL EVENT % OF SUM INSURED
    Death 100%
    Dismemberment of both limbs or loss of sight of both eyes or one limb and one eye 100%
    Dismemberment of one limb or loss of sight of one eye 50%
    Permanent and Total Disability 100%

    Exclusions of Liability Only Cover

    It is essential to read a policy document for all the exclusions to keep yourself safe.

    • Own damage to your two-wheeler is not covered. Any damage incurred to the insured bike due to an accident is not covered. The policyholder will have to pay the repair cost.
    • Accidental damage/loss/liability borne outside the prescribed geographical area.
    • Claims that may be arising out of any contractual liability are also not covered.
    • Accidental loss/damage incurred by the third party that might have resulted from a consequential loss.
    • Loss, damage, liability caused due to war, invasion, and other warlike operations.
    • Any liability caused due to radioactive contamination or nuclear weapons.

    Two Wheeler Comprehensive Insurance

    Two Wheeler Comprehensive Insurance This policy provides complete financial protection against own damages and also any third party loss or damages caused due to the insured vehicle. You don't have to worry if your two-wheeler gets stolen, as a comprehensive policy also covers bike theft.

    Coverage of Two Wheeler Comprehensive Policy are:

  • Own Damage
  • Third-party cover
  • Third-party liability cover
  • Third-party property damage cover
  • Personal Accident Cover (Personal Accidental Cover for the owner-rider & Optional Pillion Rider Cover)
  • Damages caused by,

  • Fire, explosion, self-ignition, or lightning
  • Earthquake, flood, typhoon, hurricane, storm, tempest, inundation
  • Cyclone, hailstorm, frost, landslide, rockslide
  • Burglary, theft, riot, strike, malicious act
  • Accident by external means, terrorist activity
  • Any damage in transit by road, rail, inland waterway, lift, elevator or air.
  • Exclusions of Two Wheeler Comprehensive Cover:

  • Any damages incurred when the policy is not active or expired
  • Any mechanical wear and tear due to aging
  • Any mechanical or electrical breakdown
  • Riding without a legal and valid license
  • Riding under the influence of alcohol, drugs, or any intoxicants
  • Using private two-wheelers for commercial purposes
  • Difference between Two Wheeler Liability Cover and Comprehensive Insurance

    Let us see an example to understand the difference between a liability cover and comprehensive cover.

    Amit and Sanjay bought a new Honda CB Unicorn self-start 150cc bike in Jan'17. The on-road price in Mumbai is Rs. 80,000. Amit insured the bike with only a Third-party cover. Third-party premiums consider Engine CC, so the premium is Rs. 770. While Sanjay bought a Comprehensive policy (covers own damage + third party liability cover), which cost him Rs. 1,200.

    In June, both met with a minor accident, and the total repair cost turned out to be Rs. 6,000 (approx.). Because Amit had bought only a third party policy, the entire repair cost incurred will be borne by him. The insurance company will pay only third party property damage costs—nothing for any damages incurred on the bike. Since Sanjay had bought a comprehensive policy, the insurance company will pay the repair cost (after deduction for the depreciable parts).

    KEY POINTS AMIT SANJAY
    Premium Paid Rs.770/- (only third-party) Rs.1,200(Comprehensive)
    Third-party Paid by the insurance company Paid by the insurance company
    Own- Damage Repair Cost Rs.6,000/- Not paid by the insurance company Paid by the insurance company
    Total Money Invested Rs.770 + Rs.6,000 Rs.1,200
    Net Savings (Rs.) 0/- More than approx. Rs.3,000

    The total money paid by Amit is Rs. 6,770, whereas Sanjay paid Rs. 1,200. On face value, Amit saved money on the premiums paid. However, he had to face a considerable loss that came along with the bike damage. The total loss borne by Amit is Rs. 6,770. Note: All the prices are indicative and are subject to change.

    The Coverage Difference Table between Comprehensive and Third Party Liability Cover

    COVERAGE COMPREHENSIVE POLICY THIRD PARTY POLICY ONLY
    Third Party Liability Covered Covered
    Third Party Property Damage Covered Covered
    Personal Accident Cover Covered Covered
    Own Damage Covered Not Covered
    Vehicle Theft Covered Not Covered

    Add-on Covers of Two-Wheeler Insurance

    By default, when you purchase a two-wheeler insurance policy, you get covered against accident-related repairs.

    A comprehensive two-wheeler insurance plan offers basic bike insurance coverage, while third-party two-wheeler insurance provides basic bike insurance coverage for third party expenses. If you want to enhance the bike insurance cover for your existing two-wheeler insurance plan, buying add-ons or rider options will increase the level of protection. Many insurers offer good rider options that can be attached to a bike insurance plan.

    Note

    Rider add-ons come at the cost of an additional premium which you pay for your bike insurance plan. Here is a list of add-on covers for your bike insurance plan

    Engine Cover

    If your city of residence is prone to seasonal flooding and waterlogging, the engine cover will come in very handy. Engine cover protects against damages (circuit) to the engine. Such injuries can cost several thousands of rupees. Engine cover provides for such expenses.

    Roadside Assistance

    Roadside assistance is the support given in case of a mechanical failure or the breakdown of your bike in the middle of the road/highway. When you purchase roadside assistance rider for your bike insurance, you will be entitled to facilities such as free towing, immediate repairs, etc. If you plan for a bike trip or traveling to a remote location, this rider is a must-have.

    Daily Cash Allowance

    For individuals who commute on a bike daily, this rider is an ideal option to add in a two-wheeler insurance plan. In case of severe damage to your bike, you might have to incur out-of-pocket expenses to travel without it.

    Accessories Cover

    All bikes come with some additions. Bike insurance policies do not cover accessories. Having this add-on cover will provide coverage for all the two-wheeler accessories- electrical or non-electrical. This rider covers the cost to repair or replace the addition.

    Personal Accident Cover Pillions

    This cover will lower your financial liability in case of accidental harm to the pillion rider. Pillion is the person who sits behind you in a bike. This add-on provides coverage for the death or permanent or partial disability of the pillion rider.

    Consumables Cover

    Consumables include nuts, bolts, and engine oil, etc. Such items are usually not covered under regular bike insurance policies. Since depletion of consumables happens periodically, having this rider will ensure your financial protection for the costs mentioned above.

    Return to Invoice Cover

    Purchasing return to invoice cover is an add-on to your bike insurance plan is beneficial. Return invoice cover reimburses the vehicle's actual value when it is stolen or suffers a total loss due to natural calamities or theft.

    Zero Depreciation Cover

    One must understand that irrespective of the two-wheeler insurance purchased (whether liability only insurance policy or comprehensive bike insurance policy), either of them does not settle the whole claim amount. All insurers ensure that they deduct the depreciation value and pay the remaining amount. With zero depreciation cover, the depreciation factor is eliminated, making you eligible for the

    Two Wheeler Insurance Inclusions and Exclusions

    WHAT’S INCLUDED WHAT’S EXCLUDED
    Damages that might happen to your bike in an accident Damages caused by you while riding under the influence of alcohol.
    Personal Accident Cover - Injuries (the owner-driver) sustained in a bike accident result in insurer compensation. Exemptions include loss and damages caused by a war or a nuclear strike from insurance policies.
    The financial protection of your bike from natural calamities such as floods, earthquakes, etc., is essential under insurance. All Accident-related damages caused while you were using your two-wheeler for illegal activities are also not considered for insurance.
    In case your two-wheeler gets stolen, your insurer will pay an amount equal to your bike’s IDV. Damages caused or losses incurred to your two-wheeler while you were riding without a valid license.
    Coverage for damages caused during a man-made disaster comes under insurance coverage. This includes riots, strikes, fire, and terrorism are covered. Exemptions also include the regular mechanical expenses due to consistent wear and tear of bike usage.
    Coverfox logo

    Why Compare Two Wheeler Insurance policies online?

    Things You Should Consider While Comparing Two Wheeler Insurance/Bike Insurance Policies:

    • Compare the type of Coverage (Third Party Liability or Comprehensive)
    • Compare Insured Declared Value (IDV)
    • Compare Premium
    • Compare Add-on Covers
    • Compare the cashless network garage list.

    How to Compare Two Wheeler Insurance Plans Online?

    With so many insurance companies in India offering the best two-wheeler insurance policies, it isn't easy to buy the right type of insurance policy. Trust Coverfox with making your decision super simple.

    Coverfox provides a smooth and easy to use comparison platform. All you have to do is enter your two-wheeler details such as make, model, variant, RTO location, and purchase year. Once all these details are entered, and you click Get Quotes, you can see the top insurers' insurance policies. You can easily compare all the features, components, and the premium quoted. With Coverfox, two-wheeler insurance comparison is instant and simple.

    Steps to Compare Two Wheeler Insurance Policies Online

    • Enter your two-wheeler details - Vehicle number. (If you don't know the number, then enter the model, make, and the variant of your two-wheeler)
    • Enter the registration details of your two-wheeler - RTO Location
    • Declare if your previous two-wheeler insurance policy has expired or not
    • Finally, click on Get Quotes

    Why Choose Two-wheeler Insurance by Coverfox?

    With Coverfox, individuals can choose from a wide range of policy options that differ based on premiums, sum insured levels, features, benefits, etc. Applicants can enter their insurance requirements regarding their vehicles and get a complete list of the best-fit policies. The entire process of finding the right two-wheeler insurance policy will hardly take a few minutes and last just a few clicks. In case of any doubts or queries, users can get in touch with a Coverfox agent by dialing toll-free number 1800 209 9930.

    Unique Benefits of Comparing Bike Insurance Policies Online

    SAVE MONEY Compare two wheeler insurance from top insurers to save money
    BEST PLAN Compare to get the best plan for your two-wheeler
    INSURED DECLARED VALUE Compare Insured Declared Value offered
    ADD-ON COVERS Compare add-on covers offered by various insurers

    Renewal of Two Wheeler Insurance Online in India

    Benefits of Renewing Bike Insurance Online

    Having a bike insurance plan is an excellent way of taking care of the expenses you could suffer in case of damages incurred to or by your bike, which you would otherwise pay from your pocket.

    Renew your Two Wheeler Insurance Online and Get the Following Benefits:

    • No Inspection of your Bike is needed to renew a policy.
    • Requires No Paperwork
    • Never lose your insurance policy. A soft copy of your insurance policy is always in your inbox.
    • Get complete support at the time of claims.
    • Get easy access to the nearest garage by instantly knowing the list of Cashless Claim Garage Network of your insurance company.

    How to Renew Bike Insurance Online

    If your policy is active or expired,

    • Check Insured Declared Value Offered: As you enter your two-wheeler details, quotes from different insurers will be displayed. Before renewal, ensure you compare Insured Declared Value (IDV) offered by various insurers.
    • Evaluate your cover: Renewing also lets you evaluate the cover you’ve v/s the other market plans. Browse through and pick one that matches your needs!
    • Know your add-ons: Select add-ons that are best suited to your needs and include them in your policy. They might seem like an added expense, but they enhance the policy benefits!
    • Check all the information: Before paying the premium, it is advisable to ensure all the vehicles and the owner’s details are correct.

    Coverfox Advantage,

    • No inspection: Without inspection and documentation, Coverfox helps you to renew your two-wheeler expired policy.

    • No extra or hidden costs: It usually entails no additional or hidden charges. It comes at the same price as it costs to renew a regular two-wheeler insurance policy.

    • Instant: You will receive the policy within minutes.

    • The best part: As mentioned earlier, no documentation is involved. You don't have to provide previous policy details if the policy has expired for more than 90 days.

    Buy Multi-Year Two-Wheeler Insurance Plan

    A multi-year two-wheeler insurance policy allows two-wheelers to be insured up to three years consecutively at one time. You don't have to renew the insurance each year. It is because you receive a single policy that is valid for three years.

    Benefits of Multi-Year Two-Wheeler Insurance Plan:

    Save up to 20–40% upfront on premium - IRDAI hikes the premium’s a third-party liability portion by 20% each year. Multi-year insurance saves you against the hike of third-party premium and service tax.

    • ELIMINATES YEARLY RENEWAL - Renewing your policy once for three straight years is stress-free compared to renewing your two-wheeler insurance policy annually.

    • Protection for long-term - Ride safely and happily by enjoying the long-term financial security for three years. Also, you receive one policy document that is valid for three years.

    • EASY CANCELLATION OF POLICY - In the case of a multi-year policy, if the policyholder cancels in the first year, he can get a refund of second and third year premiums.

    • BIG DISCOUNTS OFFERED - At times, insurance companies offer upfront discounts on multi-year two-wheeler insurance policies. If your vehicle sells, you save on your premiums.

    • PROTECT ACCUMULATED NO-CLAIM BONUS - If you are eligible for 25% NCB, it's applied on the premium of all three years.

    New Bike Owners Have to Buy Long-term Cover for Five Years

    As per the Supreme Court directive, passed in July 2018, a five-year upfront cover has become compulsory on two wheeler insurance policies. This new regulation has been implemented since 1st September 2018 and is applicable for all two-wheeler purchased on and after 1st September. It implies that every new two-wheeler owner would have to shell out a lump sum towards their bike insurance policy on purchasing a vehicle. However, one benefit of this regulation is that it saves two-wheeler owners from the burden of annual renewals.

    This move’s primary reason is to improve third party liability penetration only covers two-wheelers that have been on the roads for a few years. It has that once two-wheeler ages, and it has been a few years since its purchase, owners often skip renewing their two-wheeler insurance annually or buy one that is not sufficient to cover risks. This new regulation will not only ensure that newly purchased two-wheelers in India are sufficiently protected against threats, but also safeguard third party vehicles and pedestrians from injuries and accidental death caused by new two-wheelers.

    Own-Damage Two Wheeler Insurance Policy

    Own Damage Two-Wheeler Insurance helps you stay covered against damage caused to your bike and not the third party involved in the accident. In case of an accident, Own Damage Two-Wheeler Insurance cover compensates you for the expenses incurred to repair or replace parts of your two-wheeler damaged in the accident. A bike insurance policy can be of three kinds.

    • Third-Party Cover: This is a mandatory cover. It is compulsory by law (Indian Motor Vehicles Act, 1988) as Third Party Insurance provides cover against damage to a person or property by your insured vehicle. However, TP Insurance does not cover expenses and hospitalization bills borne by you.

    • Own Damage Cover: Own Damage cover reimburses the expenses owing to bike damages due to natural events such as earthquakes, fires, hurricanes, etc. or due to an accident or human-made disasters.

    • Comprehensive Cover: This is like a 360-degree plan as it provides complete cover for damages against your vehicle, third party vehicle, and third person and property. In addition to the various types mentioned above, there are rider options or add-ons available. Rider options are additional features that enhance the advantages of a two-wheeler insurance plan. You can add a rider to a policy at the cost of an additional premium. You can add multiple riders. Each rider will either enhance an existing feature of your current system or bring other features.

    FAQs On Two Wheeler Insurance

    (1) How to check bike insurance status?

    You can follow any of these steps to check your bike insurance policy status:

    • Login with your registered user ID and Password on the insurer’s official website
    • You can also down the mobile app of the insurer
    • Many insurer’s also provide SMS and missed call facility
    • Contact the customer service department via phone or email
    • Contact your agent/broker who sold you the policy

    (2) What is IDV in two-wheeler insurance?

    IDV is the Insured Declared Value of your two wheeler. It is the:

    • Maximum value an insurer will compensate you for complete total loss or theft of your bike
    • It is the current market value of your vehicle
    • It is fixed during the time of policy purchase
    • It is subject to depreciation

    (3) How to get a copy of my two-wheeler insurance policy online?

    You can get a copy of your bike insurance policy document via any of the following ways:

    • Login to your insurer’s website and request for a new policy document
    • Contact the customer service via email and phone for the same
    • You can also visit the insurer's branch and raise a request in person
    • You can download a soft copy from the mobile app of the insurer

    (4) How do I raise a bike insurance claim?

    Please follow these steps to raise a bike insurance claim:

    • Contact your family members and your bike insurer immediately
    • In case of a severe accident, contact the police as well
    • Intimate a claim with your insurer via phone or email
    • File a FIR at the nearest police station
    • You can send your bike to the nearest cashless garage
    • The surveyor will inspect your bike for damage assessment
    • Post assessment, your insurer will settle the claim directly
    • Ensure that you submit all the relevant forms, documents, bills and invoices

    (5) What is cashless and reimbursement claim?

    Cashless and Reimbursement are two methods of claim settlement.

    • Under the cashless claim facility, the claim is directly settled by the insurer with its network garage. You need not pay from your pocket
    • Under the reimbursement facility, you can service your bike at any garage and raise a claim for reimbursement post the repairs. You need to submit all the relevant documents and bills for the cost of repairs.

    (6) What does the surveyor check during the claim process?

    The three important functions of the surveyor are:

    • Inspect the level of damage occurred to your bike
    • Assess the damage for the claim
    • Submit the assessment report for processing the claim further

    (7) What is NCB in Two wheeler insurance

    An NCB is a No Claim Bonus. It is:

    • A discount given on the premium amount during the time of renewal
    • Applicable only if you have not made any claim in the previous year
    • It can be transferred from one insurer to another

    (8) What is an insurance premium?

    Insurance premium is the amount you pay:

    • To protect your bike from third party liability damage or own damage
    • To get the comprehensive cover for your bike
    • It can be paid on an annual/semi-annual/monthly basis

    (9) What are the factors which influence my two-wheeler insurance premium while buying online?

    Your bike insurance premium depends on the following factors:

    • IDV or Insured Declared Value
    • Location/Place of Registration
    • Bike Model/Type/Variant
    • Voluntary Deductible
    • Type of Insurance Cover
    • Engine Capacity CC
    • Fuel Type - Petrol or Diesel

    (10) Can I cancel the policy during the tenure of the policy

    Yes, you can easily cancel your bike insurance policy. You can do the same by:

    • Submitting the cancellation form at the nearest RTO
    • Inform your bike insurance provider
    • Post cancellation, the insurer will refund the premium amount
    • The refund is only applicable incase there have been no claims in the past

    (11) How is the two wheelr insurance premium affected

    The premium of your bike insurance plan is affected by the following:

    • Age and Insured Declared Value of the Vehicle
    • Depreciation with increasing age

    (12) What is Long term two wheeler insurance

    A long term two wheeler insurance is a type of bike insurance that:

    • Has a validity of 2 to 3 years
    • You need not have to worry about annually renewals or rise in premium amount
    • You get a discount on the premium amount
    • Your IDV and third party liability of the vehicle remains intact

    (13) What are the factors which influence my two-wheeler insurance premium while buying online?

    Your bike insurance premium depends on the following factors:

    • IDV or Insured Declared Value
    • Location/Place of Registration
    • Bike Model/Type/Variant
    • Voluntary Deductible
    • Type of Insurance Cover
    • Engine Capacity CC
    • Fuel Type - Petrol or Diesel

    (14) How to find my bike insurance policy number?

    You can find your bike insurance policy number via any of the following methods:

    • By looking in your policy document
    • The policy details are also sent via email
    • Contact your broker/agent/distributor who sold you the policy
    • Login to the official website of the insurance provider
    • Contact the customer service team via email or telephone

    (15) What are the benefits of buying a two-wheeler insurance policy online?

    Here are the top 5 benefits of purchasing a bike insurance plan online:

    • Quick online payment via netbanking/internet banking
    • Instant policy delivery
    • Complete paperless buying process
    • Cashless facility available
    • You can easily compare, buy and renew with add-ons from top insurers

    Read More Two Wheeler Insurance FAQ's

    • Zero Depreciation Cover
      Why two wheeler insurance policy is mandatory in India?

      As per the Indian Motor Vehicles Act, 1988, all vehicles plying on the Indian roads must have a third party liability cover. The liability bike insurance policy is mandatory to ensure that in case of a road accident, the person being injured or property being damaged by your vehicle is compensated.

    • Engine Protection
      What is a personal accident cover in a two wheeler insurance policy?

      When you buy a mandatory third-party two wheeler insurance, you get a personal accident cover of up to Rs.1 lakh for a premium of Rs.50. A pillion rider/passenger accident cover is optional and can be opted by paying an additional premium.

    • NCB Protection
      What is No Claim Bonus (NCB)?

      A No Claim Bonus is a discount on the own damage premium under the comprehensive policy given by the insurance company on renewal if there were no claims lodged in the previous year by the policyholder.

    • Invoice Cover
      How to increase NCB?

      A No Claim Bonus increases with every claim-free year. NCB is cumulative in nature, so it means you can increase the percentage of discount for every claim-free year.

    • Zero Depreciation Cover
      How two wheeler insurance premium is calculated?

      The premium of liability insurance cover is calculated on the vehicle's engine capacity (cc). The premium of comprehensive cover is calculated on the vehicle’s make, model, variant, RTO location, and the age of your vehicle.

    • Engine Protection
      Who decides the two wheeler insurance premium?

      The third party liability insurance cover premium for your two wheeler is decided by the IRDAI. The premium for liability cover changes every year. Whereas, the premium for comprehensive two wheeler insurance is decided by the insurance company from whom you are purchasing the insurance policy.

    • NCB Protection
      Is there a personal accident cover in bike insurance?

      When you buy a liability cover, a personal accident cover is provided for the rider-owner on a premium amount of Rs.50 for a sum insured of Rs.1 lakh. There are many insurance companies that provide optional personal accident cover of higher sum insured on paying an additional premium. Moreover, there’s an optional pillion rider personal accident cover, which can be opted by paying an extra premium.

    • Invoice Cover
      What happens if I ride without a two wheeler insurance?

      A third party liability cover is mandatory as per the Indian Motor Vehicles Acts, 1988 for all the vehicles plying on the Indian roads. If you are riding a bike without two wheeler insurance you would be charged a fine of Rs.2000, and/or be imprisoned for 3 months. It is therefore suggested not to ride your vehicle without an insurance policy.

    • Zero Depreciation Cover
      What is cashless two wheeler insurance policy?

      At the time of claims with a cashless two wheeler insurance policy, you can opt for cashless garage service through any of the authorised network garage of your insurer where you can get your two wheeler repaired without paying any cash.

    • Engine Protection
      What is the effect of GST on bike insurance?

      Prior to the implementation of GST, service tax and cess was 15% tax on the two wheeler insurance, but after GST, you will have to pay 18% tax on the two wheeler insurance policy purchase.

    • NCB Protection
      What to do if you lose your two wheeler insurance?

      If you have purchased online, you can simply login to the account and download a copy to take a print of it. Or check your registered email id. If you haven’t purchased online, request your insurance provider with your bike details and engine chassis number to reissue the policy.

    • Invoice Cover
      How to renew two-wheeler insurance?

      You can easily compare and renew your two-wheeler insurance policy online. You have to enter your two wheeler’s detail to check the premium quotes. Enter your make, model, variant, RTO location or just enter the number of your vehicle, once the premium quotes from the top insurers are fetched you can choose the best policy for your vehicle.

    • Zero Depreciation Cover
      Can I change my current two wheeler insurance provider?

      Yes, you can change your current two wheeler insurance provider and buy a policy from another insurance company.

    • Engine Protection
      What is compulsory deductible in two wheeler insurance?

      The compulsory deductible amount is the mandatory amount the policyholder pays on the approval of claim. This is not dependent on the garage repair bill. It is dependent on the engine capacity (cc).

    • NCB Protection
      How to buy two wheeler insurance for a second hand bike?

      Buying a second hand two wheeler insurance can be a tricky thing. However, we have written an article so that you can avoid all the possible mistakes. Read - Buying Bike Insurance: Mistakes you Will Never Make Again

    • Invoice Cover
      Will the premium for my two-wheeler increase after a claim?

      Once you make a claim for your two-wheeler, you lose out on NCB (No Claim Bonus). Hadn’t you raised a claim, you could have availed NCB, thus reducing your premium in the next policy year. But if you did, sadly, the premium automatically increases the following year.

    • Zero Depreciation Cover
      How do I claim insurance for my bike or two-wheeler?

      To file a claim with a two-wheeler insurance company, first get in touch with Insurer’s claim team representatives via call or email. The representative will inform you about the various documents that need to be submitted to get the claim process moving. The kinds of documents required along with the filled-up claim form will differ depending on the type of claim filed.

    • Engine Protection
      What is first, second and third party insurance?

      In an insurance policy, the insured or the policyholder is referred to as the first party. The first party is eligible to receive the pre-determined sum assured from his/her insurance company, which is known as the second party, in the case of a loss, injury or accident that may be caused by you to any another entity is known as the third party.

    • NCB Protection
      Is it possible to renew bike insurance online?

      Yes, most leading insurance companies offer their policyholders the convenience of renewing their two-wheeler insurance policy online. You can renew your bike insurance online.

    • Invoice Cover
      What is Insured Declared Value or IDV in two-wheeler insurance?

      IDV, or Insured Declared Value, is the maximum sum assured that an insurance company would offer against a two-wheeler in the event of theft or major damage, or total loss of the insured vehicle due to an accident. This sum assured is usually equivalent to the prevailing market value of the two-wheeler, at the time of its purchase.

    Buy Two Wheeler Policy Confidently

    With 12+ two wheeler insurers and numerous products to choose from, Coverfox works actively to find a plan that is ideal for you. We mean, the best one. From providing you with all the right information to offering unbiased comparisons, we do it all. Hey, you don't even need to engage with the insurer yourself.

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    Two Wheeler Insurance: Compare & Renew Bike Insurance Online 4.5 / 5 ( 313 reviews )
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    Dharmendra Verma
    Nice Product
    I like this product this is one of the best product.
    28 Jun
    ASHWINI PRASHANTBHUJBAL
    Waiting fro Policy Document
    I have not received hard copy of car policy no. 131300/31/2020/1651 renewed on 4th April2019. Hope I will receive hard copy from coverfox for this policy in next few days.
    07 Apr
    Neetu
    Good Tool
    Please don't send too much promotional sms as insurance is not something which anyone buy on daily or monthly basis. A customer hardly buys insurance once or twice a year.
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    ANUJ NARAINNAG
    Great User Experience
    Sometimes system error puts us in trouble like error in make and model of vehicle etc. But Coverfox people help us to rectify the same without any hassel Thank you very much
    30 Mar
    ABHAEY ASHOKKKULTHE
    Coverfox is a preferred renewal platform
    I need to renew all my future insurance policies through COVERFOX. I do not find the option to enter my present policy details so that coverfox can intimate me for renewal.
    30 Mar
    Balakrishna PrasadU
    Chat experience can be improved
    Good but call centre and chat executive we're not very helpful. Need to reduce background noise in c.c, also cc executive didn't give call back. As I am New to this platform.
    30 Mar
    Ajay Gupta
    Best online site for insurance
    I always use coverfox for my bike’s insurance as the process is very smooth. The team never disappoint me, they give best quotes.
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    Online easy - Two wheeler insurance company
    I was searching online bike insurance as I was not satisfied with my previous insurance. I got coverfox on google, it contain Multiple options for bike's insurance as per our requirement.
    15 Mar
    Rajendra
    Thanks coverfox
    I have booked insurance from coverfox and I really thanks to insurance team for providing such a best policy for me. I will definitely recommend this to my friends.
    12 Mar
    ANJAN BHATTACHARJEE
    Facing Technical issues
    Your system should be more user friendly and sometimes techninal error is coming and you need to concentrate on your techinal part so that customers can get more comfortable.
    12 Mar
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