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Two Wheeler Insurance

Two wheeler insurance / Bike Insurance is a legal agreement between you and the insurance company. This insurance policy protects you from expenses and repair costs that you may face as a result of an accident, theft, or natural disaster or human-made events like riots and legal liability towards a third party/person/property.

Be it a motorcycle, moped, scooter or any other vehicle with two wheels, a comprehensive bike/two wheeler insurance coverage plan will provide ample protection to you, your bike and any other third party involved in an accident. Comprehensive Two Wheeler Insurance or two wheeler insurance plan is the best friend for you and your motorbike.

Two wheeler insurance or bike insurance plan covers your financial damages upto the extent of the:

IDV (Insured Declared Value = Current Market Value of the vehicle).

Why Do You Need Two Wheeler Insurance in India?

As mentioned above, a two wheeler insurance plan is a form of insurance cover for your motorbike. In India, it is mandatory by law as laid down in the Indian Motor Vehicles Act, 1988 to have a basic third party liability only two wheeler insurance plan. To help you understand better, think about the following situation:

  • A bike accident can cost a fortune!
  • Indian roads are not rider friendly at all!
  • There are strict traffic penalties!
  • You can also win a free trip to jail for 3 months
  • There might be legal consequences for unsafe riding!
  • Hospitalization for medical and accidental treatment is expensive!

Therefore, It is better to stay protected at all times.

Key Features of Having a Two Wheeler Insurance Policy

Following are some of the key features of two-wheeler insurance plans:

Feature Cover offered

Own Damage Cover

Offers financial protection against damage incurred by your two-wheeler

Liability Cover

Covers financial obligation against third party and property due to their death, disability and property destruction from an accident

Personal Accident Cover

Rs. 15 lakh cover for you payable in case of death or disability due to an accident.

Add-Ons

Zero depreciation, No Claim Bonus Protection Cover, Engine Cover, Return to Invoice and more for added protection.

What are the Benefits of Two Wheeler Insurance?

There are many uncertainties while riding a two-wheeler. These situations may cause damage to your two-wheeler and even injuries to you. To stay secure from all such incidents, it is important to have valid two-wheeler insurance.

Let’s have a look at the benefits you get from buying two-wheeler insurance:

● Mental Peace:

  • Accidents and damage to your vehicle can lead to huge repair charges. If you have two-wheeler insurance, your insurance company will take care of the unwanted expenses, giving you peace of mind.

● All Vehicle Types:

  • It protects against the damages caused to the motorcycle, scooter, or moped. Also, the vehicles have been improvised and are available with better features.

● Replacement Cost:

  • The increasing demand for bikes has led to a rise in the cost of its parts. Thus two-wheeler policy covers the cost of spare parts, including bolts and nuts or parts such as the gears which have become costlier than before.

● Financial Security:

  • Two-wheeler insurance offers financial support that helps save a lot of money. Even small damages can cost thousands of rupees. A two wheeler insurance plan helps you get the damages repaired without spending much from your pocket.

● Personal Injury due to an Accident:

  • It covers expenses towards any injuries along with damages caused to your vehicle in an accident.

● Roadside Assistance:

  • At the time of purchasing the policy purchase, you can opt for a roadside assistance add-on that will come to your aid in case you need assistance on the road. This includes services such as minor repairs, towing, tyre changing, etc.

Types of Two Wheeler Insurance Policies in India

There are two categories of two wheeler insurance plans offered by insurers in India.

Comprehensive Two Wheeler Insurance
  • Comprehensive two wheeler insurance protects the rider against any own damage to his vehicle in addition to the third-party legal liabilities. It shields your vehicle from incidents of natural calamities, fire, theft, accidents, and man-made disasters. It also includes personal accident cover.
  • Third-Party Two Wheeler Insurance
  • Third-party two wheeler insurance protects the rider against all the legal responsibilities that arise out of causing damage to the third party. The third-party, here, can be property or an individual. It also covers you from your liabilities towards causing accidental injuries to a third-party person, including his death or chronic disability.
  • 18+ Best Two Wheeler Insurance Policies in India - July 2021 (IRDAI Approved)

    Here is a comprehensive list of the best two-wheeler/bike insurance plans, the insurers, their respective Third party Cover and a number of Personal Accident Cover across India.


    Two wheeler Insurance Policy Third party Cover Personal Accident Cover

    Bajaj Allianz Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Bharti AXA Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Digit Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Edelweiss Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    HDFC ERGO Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    IFFCO TOKIO Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Kotak Mahindra Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Liberty Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    National Insurance Two Wheeler

    Yes
    Rs. 15 Lakh

    New India Assurance Two-Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Navi Two-Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Oriental Two-Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Reliance Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    SBI Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Shriram Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    TATA AIG Two Wheeler Insurance

    Yes
    Rs. 15 Lakh

    United India Two-Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Universal Sompo Two-Wheeler Insurance

    Yes
    Rs. 15 Lakh

    Disclaimer: *The incurred claim ratio is sourced from the IRDAI Annual Report 2018-19. Coverfox does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

    Which is Best Comprehensive or Third Party Cover?

    Here is a comparison of Comprehensive vs Third Party Cover Two Wheeler Insurance Plans:

    What is Covered? Third-Party Comprehensive

    Third-Party Vehicle Damage

    Third-Party Property Damage

    Personal Accident Covered

    Own Vehicle Damage

    Vehicle Theft

    Fire Damage

    No Claim Bonus

    Cashless Claim

    Damage from Natural Calamities

    Engine Protection

    Through Add-on

    Zero Depreciation Cover

    Through Add-on

    NCB Protection

    Through Add-on

    Invoice Cover

    Through Add-on

    What are Two Wheeler Insurance Add-ons?

    An add-on is a rider that can be attached to your comprehensive two wheeler insurance plan. You can purchase numerous riders at the cost of an additional premium. The purpose of an add-on is to enhance the cover offered by your existing two wheeler plan or provide a unique valued added-benefit.

    Zero Depreciation Cover

    • Zero depreciation cover removes any deduction on the account of depreciation at the time of claim settlement, and then the full amount is paid to the insured.

    No Claim Bonus

    • No claim bonus is applicable only if no claims are made within a policy term. NCB Protect allows you to recollect your NCB and get a discount at the time of renewals, even if you file a claim during your policy tenure.

    • Emergency Roadside Assistance Cover

    • This cover allows you to avail of emergency roadside assistance from your insurance company. It includes tyre changes, minor repairs on-site, towing charges, lost key assistance, battery jump-start, replacement key, and fuel arrangement, etc.

    • Return to Invoice

    • If there is a total loss, then your insurance company will pay the Insured Declared Value (IDV) of your bike. This add-on bridges the gap between the IDV and the on-road price of your vehicle.

    Check Two Wheeler Insurance Policy Premium

    Top Plans in July IDV Cover Value OD Premium 3rd Party Premium Zero Dep. PA Cover NET PREMIUM
    New India Bike Insurance
    45,739
    191
    752
    137
    325
    ₹ 1,358 *
    United India Bike Insurance
    45,739
    273
    752
    234
    325
    ₹ 1,457 *
    Iffco Tokio Bike Insurance
    32,435
    380
    752
    77
    350
    ₹ 1,465 *
    Digit Bike Insurance
    40,881
    205
    752
    409
    330
    ₹ 1,645 *
    Oriental Bike Insurance
    40,658
    681
    752
    204
    325
    ₹ 1,792 *
    MAGMA HDI Bike Insurance
    42,829
    358
    752
    256
    750
    ₹ 2,028 *

    Disclaimer: The above mentioned prices are for a 2 year old Suzuki Burgman Street 125, registered in Navi Mumbai & previous policy has not expired.

    How to Buy Two Wheeler Insurance Policy Online on Coverfox?

    Buying a two wheeler insurance policy online instantly on Coverfox is easy and simple, just follow the steps mentioned below:

    • Step 1: Scroll to the top of the page.
    • Step 2: Enter the details required.
    • Step 3: Select your city and your RTO zone.
    • Step 4: Choose the two-wheeler manufacturer, model & variant of your bike.
    • Step 5: Enter the year of vehicle manufacturer.
    • Step 6: Premium quotes from various insurers will be displayed.
    • Step 7: Select the plan best fitting your needs.
    • Step 8: Choose add-on covers that you want
    • Step 9: Enter the required personal details.
    • Step 10: Pay premium through options like internet banking, debit/ credit cards.
    • Step 11: The policy will be issued and emailed to your registered email id.

    What is Covered Under Two Wheeler Insurance Policy?

    Below is the list of inclusions under a two-wheeler insurance policy:

    • Damage Caused by Natural Calamities
    • Any damage due to natural calamities, such as thunder-lightning, flood, earthquake, cyclone, hurricane, cyclone, typhoon, storm, tempest, inundation, hailstorm, landslide, and rockslides, among others will be covered.

    • Damage Due to Manmade Calamities
    • It offers coverage against various man-made disasters, such as riots, inland waterways, terrorist activity, malicious acts, and any damages caused in transit by rail, lift, road, elevator, or air, among others.

    • Own Damage Cover
    • This cover protects the insured vehicle against any loss or damage caused by the means of natural calamities, man-made calamities, fire & explosion, or theft.

    • Personal Accident Coverage
    • This cover of up to Rs. 15 lakh is available for injuries to the rider that may result in temporary or permanent disabilities. You can also avail optional personal accident cover for the co-passengers.

    • Theft or Burglary
    • The Two-wheeler insurance company will provide the IDV to the owner in case the insured bike or scooter is stolen.

    • Third-Party Liability
    • It provides cover against any legal loss of money that may occur due to injuries to a third party which may have even led to his demise. Likewise, it also protects against any damage caused to any third-party property.

    • Fire & Explosion
    • It covers losses or damage caused due to self-ignition, fire, or an explosion.

    What is Not Covered Under Two Wheeler Insurance Policy?

    Here is a list of exclusions under a two-wheeler insurance plan:

    • Loss from mechanical/electrical breakdowns.
    • Any damage to the tyres and tubes in the normal course of running.
    • Damage caused due to normal wear and tear of the vehicle.
    • Any loss occurred while the bike was being used beyond the scope of coverage.
    • Any consequential loss from regular use.
    • Any damage caused due to the driver who is driving under the influence of drugs or alcohol.
    • Any loss incurred due to war or mutiny or nuclear risk.
    • Loss/damage incurred when the bike was being driven by a person without a valid driving license.

    Why Buy Two Wheeler Insurance Online on Coverfox?

    Mentioned below are some important facts which you can consider before buying two-wheeler insurance online from Coverfox.com and also avail certain additional benefits:

    • Save Money: We do not charge any extra amount!
    • Super Fast Policy Delivery: With Coverfox, get a comprehensive online two-wheeler insurance coverage plan in 5 minutes.
    • Online Claim Settlement: The entire process of claim settlement is fast, convenient and hassle-free.
    • Digital Documentation: All of your KYC documents are digitally stored and secured. There is no need for physical inspection.
    • Previous Policy Expired: No problem, we do not ask details for your previous expired bike plan (more than three months)
    • Customer Support: Call us on 1800 209 9930 and let us handle the rest.
    • Complete Paperless Online Process: Buy, compare and renew best bike cover plans online on Coverfox.

    How to Pay Two-Wheeler Insurance Online?

    Now you can pay for two-wheeler insurance online. It is a simple, fast, hassle-free and convenient method. Here are the steps for the same:

    • Visit the official website of your preferred insurer
    • Click on bike/two wheeler insurance
    • Select the suitable plan and the premium quote
    • Make the payment online via debit/credit/Net Banking
    • Your policy will be delivered to your email ID

    How to Check Two Wheeler Insurance?

    Driving without valid two-wheeler insurance in India can land you in trouble with the law enforcement authorities. A third-party liability, only insurance policy is compulsory if you want to use your vehicle in India, as per the Indian Motor Vehicles Act, 1988. A two-wheeler insurance policy must mandatorily be carried by you while using your vehicle along with other necessary documents like Driving License, Registration Certificate (RC) of the Two-wheeler and Pollution Under Control Certificate (PUC).

    It is quite natural that one can forget to carry or renew their two-wheeler insurance policy. But, did you know your negligence can cost you a fine of Rs. 2,000/- and a free jail trip for 3 months if you are a repeat offender.

    So, always remember to carry your two-wheeler insurance and ensure that it is valid too. You can quickly check the policy status through these simple methods:

  • 1) VAHAN Portal - If you have misplaced your insurance copy. You can open the official webpage of the Road Transport and Highways Ministry (https://vahan.nic.in/) and click on Know Your Vehicle details to get your two-wheeler insurance policy details.
    • Step 1 - Open VAHAN e-services and click the “Know Your Vehicle Details” button.
    • Step 2 - Enter Bike Number and Verify your login by providing the answer to the logical question.
    • Step 3 - Click the Search Vehicle button.
    • Step 4 - Check the details displayed
    • 2) Policy Copy - You can check the policy document and instantly know about the date till which your insurance cover is active.
    • 3) Insurer Website - If you do not have your policy document with you, but remember the name of the insurance company from which you have brought your previous two-wheeler insurance policy, your work is half done. You can visit the insurer website to check whether the policy is active or not, and download a copy is required. You can also get in touch with the customer care team if you face any difficulties.
    • 4) RTO Office - You can also visit the regional transport office to determine whether the two-wheeler insurance policy is active or expired.
    • 5) IIB Portal - You can also visit the Insurance Information Bureau portal to know the status of your two-wheeler insurance policy. You have to visit https://iib.gov.in/ and click on the v-seva to get the required details.

      So, when you decide to drive your two-wheeler, ensure that you have an active two-wheeler insurance policy.

    Types of Two Wheeler Insurance Claim Settlement Process

    Here are the steps involved in the claim settlement process for cashless and reimbursement claim for your bike:

    Cashless Claim Settlement Process

    • Inform your insurance company about the accident.
    • A survey will be conducted to evaluate the damage.
    • Fill in the claim form and provide the required documents.
    • Then, the insurer will approve the repair.
    • Your bike will be repaired at one of the network garages of your insurance company.
    • After repairs, your insurer will pay the repair charges directly to the garage.
    • You are only required to pay the deductibles or non-covered expenses (if any).


    Reimbursement Claim Settlement Process

    • File the claim with your insurance company.
    • Fill up the claim form and provide all the documents required.
    • A survey will be conducted to evaluate the repair cost.
    • Give your vehicle to be repaired at a non-approved garage.
    • Clear the bill with the garage.
    • Submit all the bills, receipts as well as ‘proof of release’ to the insurance company.
    • Once the claim is approved, the approved amount will be paid to you as a reimbursement.

    Frequently Asked Questions

    • Q. How to check two wheeler insurance status?
      • You can follow any of these steps to check your two wheeler 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
    • Q. 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
    • Q. How to get a copy of my two-wheeler insurance policy online?
      • You can get a copy of your two wheeler 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
    • Q. How to find my two wheeler insurance policy number?
      • You can find your two wheeler 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
    • Q. 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.

    • Q. 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.

    • Q. 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.

    • Q. 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.

    • Q. How to Protect Your Bike in Rain?
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    Buy/Renew Two Wheeler Insurance Plans Online

    Written By: Coverfox - Updated: 2nd July 2021
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    Two Wheeler Insurance: Buy/Renew Best Two Wheeler Insurance Online
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