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A perfect way to stay financially protected.
A two wheeler insurance provides financial aid in case of an unforeseen incidents that may cause damages to your bike. Without a two wheeler insurance policy, you have to bear all the financial burden due to any loss or damages that may incur to your bike, and even the loss that may come with the bike theft.
Two wheeler insurance provides financial protection against unfortunate accident that may cause damage to the vehicle or bodily injury to the rider, pillion, pedestrians or damages to the third-party property.
Take charge, stay financially protected and insure your bike now.
Insuring your bike with the right coverage is essential.
Your search to make the right decision for the right type of bike insurance policy ends here. Now, cover your bike garage repair bills with the comprehensive two wheeler insurance policy.
Your search to make the right decision for the right type of bike insurance policy ends here.
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 loss incurred by the insured bike. It also provides personal accident cover for the bike owner. However, none of the insurers will cover for any loss, damages incurred or theft of the insured bike.
Comprehensive bike insurance policy covers own damages as well as the third-party liability. It also covers your bike in case of theft. A two wheeler comprehensive policy provides a complete protection package against any natural calamities (Like Earthquake, Floods, Lightning, etc.) and man-made calamities (Like Riots, Strikes, Terrorism, etc.).
| What’s Included | What’s Excluded |
|---|---|
| Damages that might happen to your bike in an accident. | Damages caused if you were caught riding under the influence of alcohol. |
| Personal Accident Cover - if you (the owner-driver) are injured in a bike accident, the insurer compensates you. | Loss and damages that may be caused because of a war or a nuclear strike. |
| Financial protection to your bike from natural calamities such as floods, earthquakes, etc. | Accident-related damages caused while you were using your two wheeler for illegal activities. |
| 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 valid license. |
| Coverage for damages caused during a man-made disaster. This includes riots, strikes, fire, and terrorism are covered. | Regular mechanical expenses due to consistent wear and tear. |
With 25 insurers and 100+ 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.
Licensed by IRDA IRDA/ DB 556/16
Coverfox offers a simple and instant process to buy and renew two wheeler insurance online.
Automobile Association of India: If you’re a member of the Automobile Association of India, approved by IRDAI, you are eligible for a discount of up to 2.5% on own-damage premium.
Anti Theft Device: If you install an anti-theft device on your bike, as approved by IRDAI, you get an additional 2.5% discount.
Voluntary Deductible Discount: If you decide to pay the minimum amount of money at the time of claim, the insurer offers a discount on the own-damage premium. The advantage is that if there’s no claim, you pay no extra cost and still save money by opting voluntary discount.
| Voluntary Deductible (Rs.) | Discount |
|---|---|
| 500 | 5% on the OD premium of the vehicle, subject to a maximum of Rs 50/- | 750 | 10% on the OD premium of the vehicle, subject to a maximum of Rs 75/- |
| 1000 | 15% on the OD premium of the vehicle, subject to a maximum of Rs 125/- |
| 1500 | 20% on the OD premium of the vehicle, subject to a maximum of Rs 200/- |
No Claim Bonus: it is a discount on the premium of two wheeler comprehensive policy offered by every insurer for every claim-free year. For a first claim-free year, you get 20% discount on the own damage premium for the next year. It’s cumulative and thus, keep on increasing as with the number of claim-free years. This discount can go up to a maximum of 50% discount for consecutive 5 claim-free years.
Save Money: You save money on the third-party premium when you buy a long-term/multi-year policy. IRDAI changes the third-party policy premium every year, and there’s a price hike every year. But with a long-term policy, you lock the third-party premium for 3 years.
Engine CC: The higher the engine cubic capacity (CC) of two wheeler, the higher is the premium. Be ready to shell out money Royal Enfield riders!
Bike Make and Model: The more high-end the bike, the higher is the bike insurance premium you need to pay. That means you, Harley Davidson and Ninja owners!
Year of Manufacture: Since rate of depreciation increases with age, older bikes have lower Insured Declared Value (IDV). And thus, lower premiums and vice versa.
Go for a Zero Depreciation add-on cover for your two wheeler and stay absolutely worry-free
At the time of claim, the two wheeler insurance company does not pay the depreciable cost. Depreciable bike parts such as rubber, plastic, metal are not fully covered. The depreciable cost is deducted at the time of claim repair. And this must be borne by the policyholder.
But with the help of two wheeler zero depreciation add-on cover, you stay covered. You save money even on those depreciable parts at the time of claim repair. Because of this add-on cover, the insurance company pays the full amount of repair and/or replacement at the time of claim. Except tyre(s) and tube(s).
Coverfox has simplified the process of comparing two wheeler insurance policies online.
Choosing bike was probably not that easy. After all, so many options. However, choosing an insurance policy won’t be that complicated. In fact, it’s easy, simple, and straightforward. No matter which or what type of two wheeler (scooter, scooty, bike, cruiser, sports bike, etc.) you ride, get a cover for your two wheeler. But with so many two wheeler insurance companies offering different premium, the ideal way is to compare before buying one.
Unique Benefits of Comparing Two Wheeler Insurance Policies
After entering the basic details of your vehicle, all you have to do is click on – Get Quotes, based on the entered details, Coverfox will fetch quotes from different insurers for you. It’s that easy. Within a minute, policies offered by the different insurer will be displayed on your screen. You can check the details and compare various plans. It’s instant and simple.
Steps to Compare Two Wheeler Insurance Policies Online
Things You Should Consider While Comparing Two Wheeler Insurance Policies
Forgetting renewal date is just human! Having so many things on mind, it’s easy to slip the renewal due date.
Do not worry. Or fret. With Coverfox’s support, you can simply renew the expired two wheeler insurance policy without any hassle.
Renew expired two wheeler insurance policy with Coverfox:
Before you renew the insurance, there are a few things you need to keep in mind.
As you enter your two wheeler details, quotes from different insurers will be displayed. Before renewal, ensure you compare Insure Declared Value (IDV) offered by various insurer.
Renewing also lets you evaluate the cover you’ve been offered v/s the other plans in the market. Browse through and pick one that matches your needs!
Select add-ons that are best suited to your needs and include them in your policy. They might be an added expense, but they enhance the policy benefits!
During a policy renewal, you can get previous mistakes rectified by providing the right information – remember, proper policy details are vital for speedier claims!
| Insurance Company | Add-on Cover | Special Features | Policy Term Year(s) |
|---|---|---|---|
| Bharti AXA Two Wheeler Insurance | Personal Accident Cover for Occupants Zero Depreciation | Instant policy 2500+ Cashless garages 24x7 Claim Assistance Renew expired policy without inspection | 1 year, 2 years,3 years |
| Bajaj Allianz Two Wheeler Insurance | Depreciation Shield Engine Protector Consumables | Instant policy Hassle-free claim settlement with 24x7 support service 4000 garage network Renew expired policy without inspection | 1 year, 2 years,3 years |
| HDFC Ergo Two Wheeler Insurance | Zero Deprecation Emergency Road Assistance No Claim Bonus Protection* | Instant policy Best claim settlement with 94% Multi-year insurance policy Renew expired policy without inspection | 1 year, 2 years,3 years |
| IFFCO Tokio Two Wheeler Insurance | No add-on covers | Instant policy Transfer up to 50% of No Claim Bonus Quick claim settlement process | 1 year |
| Kotak Two Wheeler Insurance | Zero Dep | Instant policy Backed up by Kotak Mahindra Bank Ltd. Efficient and quick claim settlement procedure Renew expired policy without inspection | 1 year, 2 years, 3 years |
| New India Assurance Two Wheeler | Nil Depreciation | Instant policy Pays towing charges up to Rs.300 Complete support for claim settlement | 1 year |
| Oriental Two Wheeler Insurance | Nil Depreciation Cover for loss of Personal Belongings | Instant policy Optional pillion rider cover Cashless service across country Renew expired policy without inspection | 1 year |
| Reliance Two Wheeler Insurance | Nil Depreciation Personal Accident Bundle | Instant policy Simple and easy claim settlement process 159 network garages Renew expired policy without inspection | 1 year |
| United India Two Wheeler Insurance | Zero Dep | Instant policy Quick renewal and claim settlement process | 1 year |
| Universal Sompo Two Wheeler Insurance | Nil Depreciation cover Return to Invoice Daily Cash Allowance Manufacturer's Selling Price / On Road Price Loss of Driving License Additional Accidental Injury Compensation(Owner) Winder PA Benefit (Owner) Accidental Hospitalization cover for Family Hospital Daily Cash Additional Accidental Injury Compensation (Family) Driving - Train Protect (Cover for Child parts of Engine, Differential and Gear Box) Cost of Consumables Road side Assistance for Two Wheelers Engine Protector NCB Protector | Instant policy Concession for designed/modified vehicle owned by blind, handicapped and mentally challenged persons Fast and hassle-free claim settlement process | 1 year |
General two wheeler insurance plans are designed for one year and have to be renewed annually. However, a multi-year two wheeler insurance policy is unique. This policy allows two wheelers to be insured up to three years consecutively at one time.
Policyholders don't have to renew the insurance contract each year. This is because they receive a policy certificate for a maximum of three years cover.
Benefits of multi year two wheeler insurance plan:
Required steps and supporting documents:
In case of Accident
In case of Two wheeler Theft
In case of Third Party Claims
"My first experience with Coverfox was an absolute delight. Their positive response and effective actions changed my opinion of the entire insurance segment. Hope they keep it up!"
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