Dharmendra Verma
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28 Jun
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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.
| Pre-negotiated rates for you starting from 600 | |
| Up to 80%* discount on premium with a no-claim bonus | |
| Owner cover (personal accident cover) up to 15 lakh in case of a bike accident | |
| Covers you against financial hits due to a stolen bike |
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.
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.
There are two types of two-wheeler insurance policy:
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.
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 | 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 2 Wheeler Insurance Companies | Add-ons Cover | Claim Settlement |
|---|---|---|
| Bajaj Allianz Two Wheeler Insurance Company | ||
| Bharti AXA Two Wheeler Insurance Company | ||
| HDFC ERGO Two Wheeler Insurance Company | ||
| Reliance Two Wheeler Insurance Company | ||
| Liberty General Two Wheeler Insurance Company | ||
| IFFCO Tokio Two Wheeler Insurance Company | ||
| ICICI Lombard Two Wheeler Insurance Company | ||
| Universal Sompo Two Wheeler Insurance Company | ||
| United India Two Wheeler Insurance Company | ||
| Oriental Two Wheeler Insurance Company | ||
| New India Assurance Two Wheeler Insurance Company | ||
| National Insurance Two Wheeler Insurance Company | ||
| Magma HDI Two Wheeler Insurance Company |
Disclaimer: The above information is available from the Insurance Company's Website.
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:
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.
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:
Damages caused by,
Exclusions of Two Wheeler Comprehensive Cover:
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 |
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.
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
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 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.
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.
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.
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 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.
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.
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
| 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. |
Things You Should Consider While Comparing Two Wheeler Insurance/Bike Insurance Policies:
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
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.
| 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 |
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:
How to Renew Bike Insurance Online
If your policy is active or expired,
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.
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.
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 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.
(1) How to check bike insurance status?
You can follow any of these steps to check your bike insurance policy status:
(2) What is IDV in two-wheeler insurance?
IDV is the Insured Declared Value of your two wheeler. It is the:
(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:
(4) How do I raise a bike insurance claim?
Please follow these steps to raise a bike insurance claim:
(5) What is cashless and reimbursement claim?
Cashless and Reimbursement are two methods of claim settlement.
(6) What does the surveyor check during the claim process?
The three important functions of the surveyor are:
(7) What is NCB in Two wheeler insurance
An NCB is a No Claim Bonus. It is:
(8) What is an insurance premium?
Insurance premium is the amount you pay:
(9) What are the factors which influence my two-wheeler insurance premium while buying online?
Your bike insurance premium depends on the following factors:
(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:
(11) How is the two wheelr insurance premium affected
The premium of your bike insurance plan is affected by the following:
(12) What is Long term two wheeler insurance
A long term two wheeler insurance is a type of bike insurance that:
(13) What are the factors which influence my two-wheeler insurance premium while buying online?
Your bike insurance premium depends on the following factors:
(14) How to find my bike insurance policy number?
You can find your bike insurance policy number via any of the following methods:
(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:
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Yes, you can change your current two wheeler insurance provider and buy a policy from another insurance company.
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).
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
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.
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.
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.
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.
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.
Read Top Bike Insurance Article's
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