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Two Wheeler Insurance or Bike Insurance is a plan that protects the owner of a bike from any possible damages in case of an accident, theft or natural disaster. Currently, a third-party two-wheeler insurance policy is mandatory under the Motor Vehicle Act 1988.
It is advisable to buy Bike insurance as it will help you to cover any unforeseen expenses arising out of the damage caused to your two wheeler due to accidents, natural calamities or third party accidents or liabilities.
A two wheeler insurance policy protects your bike or scooter against any damages caused due to road accidents, natural disaster, and theft or loss. A bike insurance policy covers damages to your two wheeler and legal liability towards third parties. With us, you can secure your bike at affordable rates.
There are currently three kinds of bike insurance policies available:
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:
Therefore, It is better to stay protected at all times.
Following are some of the key features of two-wheeler insurance plans:
|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.|
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:
There are two categories of two wheeler insurance plans offered by insurers in India.
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 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.
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|
Edelweiss Two Wheeler Insurance
Navi Two-Wheeler Insurance
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.
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
Own Vehicle Damage
No Claim Bonus
Damage from Natural Calamities
Zero Depreciation Cover
Add-ons are the additional covers you can opt for while purchasing your 2 wheeler vehicle insurance. With add-ons you can avail more benefits on top of the ones offered by your bike insurance policies. Given below are some of the add-ons that you can avail for your bike:
Due to passage of time your bike loses value due to depreciation, which can directly reduce the amount of settlement, at the time of claim. When you purchase a Zero-Depreciation Cover you do not have to compromise on the claim amount, as it foregoes the amount of depreciation on the parts made of nylon, plastic and fiberglass. In the event of a claim settlement, the customer receives the full amount due without any deductions for depreciation. It is always advisable to get this add on cover it will help you from any loss in claim, arising from depreciation of your bike or scooter
The No-Claim Bonus Add-on allows you to avail a discount on bike insurance premium for the term where you don’t make a claim on your insurance policy. Not making a claim shows you as a safe driver, and the two-wheeler insurance company allows you to avail for No Claim Bonus (NCB) discount at the time of your two-wheeler / bike insurance renewal. The no-claim bonus discount can range anywhere from 20-50% of your own damage premium.
There can be times where your bike or scooter breaks down in the middle of the road and you will then need to drag the bike to the service center at your own expense, this is where this add-on to your bike insurance protects you. This add-on cover insures you from a variety of unplanned and unforeseen incidents that could lead to a roadside emergency such as towing, lost key assistance, battery jump-starts, replacement keys, and fuel arrangements Tyre changes and small repairs on-site are also included. The add-on is of great benefit if you ride long distances every day, especially on Indian roads.
During the claim settlement of total loss, the bike insurance company pays you the Insured Declared Value (IDV) of your bike. Return to Invoice add-on bridges the gap between the IDV of your two-wheeler insurance policy and its current on-road value. This includes taxes, documentation and other related charges as well. What this add on does is provides the policy holder to get an insurance amount as per the price on which the policy was purchased, you will get the entire amount in scenarios where your two wheeler was damaged due to total loss or theft.
In a case where your bike has met a casualty, it might be possible that your bike is left at the network garage for days at a time. In such a case, a Daily Allowance Cover provides you with a daily travel allowance till the time your bike is repaired and released from the network garage.
When you have an EMI protection cover, your bike insurance company shall pay the EMIs for your two-wheeler if the bike is getting repaired at a network garage after an accident.
The life and power of your two-wheeler depends on its engine. Hence, taking care of the engine is a must. An engine protection cover add-on covers the damage on your engine caused by water ingression or oil leakage, which is usually not covered under the standard two-wheeler / Bike insurance policy.
|Top Plans||IDV Cover Value||NET PREMIUM|
|New India Bike Insurance||GET PLAN|
|United India Bike Insurance||GET PLAN|
|Iffco Tokio Bike Insurance||GET PLAN|
|Digit Bike Insurance||GET PLAN|
|Oriental Bike Insurance|
|MAGMA HDI Bike Insurance||GET PLAN|
Disclaimer: The above mentioned prices are for a 2 year old Suzuki Burgman Street 125, registered in Navi Mumbai & previous policy has not expired.
Buying a two wheeler insurance policy online instantly on Coverfox is easy and simple, just follow the steps mentioned below:
Below is the list of inclusions under a two-wheeler insurance policy:
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.
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.
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.
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.
The Two-wheeler insurance company will provide the IDV to the owner in case the insured bike or scooter is stolen.
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.
It covers losses or damage caused due to self-ignition, fire, or an explosion.
Here is a list of exclusions under a two-wheeler insurance plan:
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:
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:
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:
We do not charge any extra amount!
With Coverfox, get a comprehensive online two-wheeler insurance coverage plan in 5 minutes.
The entire process of claim settlement is fast, convenient and hassle-free.
All of your KYC documents are digitally stored and secured. There is no need for physical inspection.
Call us on 1800 209 9930 and let us handle the rest.
Buy, compare and renew best bike cover plans online on Coverfox.
You can make a claim for your Two-wheeler, bike or scooter Insurance online. There are two ways of filing a claim for insurance online; 1) cashless claim and 2) reimbursement. Let’s discuss both the claim processes:
You need not pay a single rupee, the money is given to garage by the insurance company
You can pay the money first, incase of claim & later get it reimbursed by insurance company
Cashless Claim: You can make a cashless claim in case of repair undergoing at one of the network garages. In a cashless claim, the damages are directly covered by your bike insurance provider, and you have to pay nothing out of your pocket.
Reimbursement Claim: If your vehicle covered under the bike insurance policy gets repairs on a garage which is not in the list of your insurer’s approved network garages, then you can file a reimbursement claim for your policy. Under this, you'll need to pay for the repairs upfront and then submit a claim for reimbursement to your insurance company.
With Coverfox, your two-wheeler insurance renewal is faster than ever. You can now get your Bike Insurance renewal online in no time. If you wish to change your bike insurance policy during the renewal process, Coverfox allows you to compare the best bike insurance policies online and choose the one perfectly fitting your needs.
Online bike Insurance policy renewal is simple and takes few easy steps to get it done. All you need to do is keep your policy details ready, and you are good to go. Follow the instructions below to get your bike insurance renewal online:
The documents for your newly renewed bike insurance policy shall be delivered to you via email. You can choose to take out a print as per your requirement.
To ensure you get the most benefits out of your bike insurance policy, you must keep in mind the factors that affect your bike insurance premium. Below are some tips to save a considerable amount on your insurance premium:
When getting a two-wheeler insurance online, the best decision is to first compare bike insurance policies online. Keep a note of the coverage and other benefits offered by various bike insurance companies and choose the one that fits your budget and requirements. By comparing, you will be able to identify which policy offers maximum benefits at minimal premium, to compare and get best deals, visit our Bike Insurance Compare section
Claim Your No Claim Bonus (NCB):
Ensure claiming your No-Claim Bonus (NCB) discount on your bike insurance premium, whether you opt for a two-wheeler insurance renewal or a new bike insurance plan. In either case, for every year when you don't make a claim, an NCB can be availed, which can significantly reduce your bike insurance premium.
Install Safety Devices:
The more secure your vehicle is, the lesser it becomes a liability for your bike insurance provider. Ensure companies offer lower bike insurance premiums if your vehicle is well secured with anti-theft devices. Hence, installing safety and anti-theft devices approved by Automotive Research Association of India (ARAI) will reduce your premium amount.
Know Your Vehicles Age:
Because of depreciation, the market value or Insure Declared Value of your bike decreases as it gets older. As a result, as the age of your car increases, the premium you need to pay decreases.
Choose Suitable Add-on Covers:
Though add-ons can provide some important additional benefits, they tend to increase the amount of your bike insurance premium. You must choose only those add-ons which are crucial, provide benefits to you and fall in your budget.
Renew Your Insurance on Time:
When a car insurance policy is about to expire, the NCB benefit is only valid for 90 days from the policy's due date. To avoid a price increase in premium, make sure to renew your bike insurance as soon as possible.
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:
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
You can check the policy document and instantly know about the date till which your insurance cover is active.
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.
You can also visit the regional transport office to determine whether the two-wheeler insurance policy is active or expired.
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.
Here are the steps involved in the claim settlement process for cashless and reimbursement claim for your bike:
Q. How to check two wheeler insurance status?
Ans: You can follow any of these steps to check your two wheeler insurance policy status:
Q. Why two wheeler insurance policy is mandatory in India?
Ans: 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. How to get a copy of my two-wheeler insurance policy online?
Ans: You can get a copy of your two wheeler insurance policy document via any of the following ways:
Q. How to find my two wheeler insurance policy number?
Ans: You can find your two wheeler insurance policy number via any of the following methods:
Q. What is a personal accident cover in a two wheeler insurance policy?
Ans: 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?
Ans: 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.
Disclaimer: The above mentioned prices are for a 2 year old Hero Honda Karizma R 223 CC, registered in Navi Mumbai & previous policy has expired.