Two Wheeler Insurance in Hyderabad

Two-wheelers are the go-to option for people in Tollywood's home turf, Hyderabad. Two-wheelers are an affordable option to the people, considering the lack of sufficient public transport in the city. While riding a motorcycle in Hyderabad is a challenge in itself, crowded roads, traffic and inattentive pedestrians make it more difficult. Having two-wheeler insurance is a must and legally mandatory as per the Motor Vehicle Act 1988. Let us understand why you would need a two wheeler insurance in Hyderabad, and how you can get it.

While a Sunday morning ride to Gandipet or Shamirpet sounds like a plan, there are many problems that riders face in the city of pearls. Especially during monsoons, Hyderabad has uncertain rainfall and one huge problem of potholes. To tackle these problems financially, a two wheeler insurance policy is a must. Here are challenges faced by motorcycle riders in Hyderabad:

Traffic & Accident Risks:

Hyderabad has a high density of vehicles in the country. With packed areas like KBR National Park, Charminar, Chaderghat, SP Road, accidents and mishaps are bound to happen. Having a third-party insurance is a must, but also consider having your own damage insurance policy to safeguard your own vehicle.

Thefts and Vandalism:

With rising cases of thefts and robberies in areas like Jubilee Hills, Film Nagar, and Banjara Hills, having insurance against theft in order to at least get IDV for your stolen vehicle makes sense. On the other hand, vandalism incidents around temple areas are getting reported increasingly, make sure to keep your vehicle away from harm.

Monsoons:

Potholes are a major issue during monsoons. Potholes lead to accidents and damages to your vehicles. A good insurance policy will help you financially protect your two-wheeler.

RTO Regulations:

Hyderabad RTO is pretty strict on carrying documents and following traffic rules. Not carrying insurance may lead to fines up to ₹4000 on repeated offences and it is legally required to have at least third-party insurance for your two-wheeler.

Network Garages:

Every insurer has their own set of network garages. Selecting an insurer that has a network garage easily accessible to you would help you from a lot of trouble.

Long rides and daily commutes:

Hyderabad is famous for having scenic spots at the outskirts. This calls for a long ride on your motorcycle. Whether you take your two-wheeler on long rides or use it for daily commuting, the risk of damage is too high, and should not be ignored. Having an insurance policy with zero depreciation makes a good choice for those who frequently use their motorcycles.

Claim Process:

Having a complicated claim process after an accident should be the last concern you should have. Opt for insurers that have a simple and fast claim process and provide excellent support like Coverfox.

In Hyderabad, there are currently 3 types of two-wheeler insurance available. Amongst the three, having a third-party two-wheeler insurance is mandatory. Here are the 3 types of two-wheeler insurance in the city of Hyderabad:

1. Third-Party Two-Wheeler Insurance

A third-party two-wheeler insurance covers damages done to the third party (vehicle, individual or property) during an accident. This type of insurance is mandatory as per the Motor Vehicle Act 1988 and not having it whilst riding the streets of Hyderabad can lead to hefty fines.

Inclusions:

• Only third-party damage is covered. (vehicle and Individual)

Exclusions:

• Own Vehicle Damage
• Personal Injuries
• Drunk or illegal riding

2. Comprehensive Two-Wheeler Insurance

A comprehensive insurance covers third-party damages and damage done to your own bike. As the name suggests, comprehensive insurance can cover every aspect of your bike that needs to be insured by customising the insurance policy with add-ons. Things like natural calamities, theft, engine protections, etc are covered in comprehensive two-wheeler insurance (Depends on the customisation).

Inclusions:

• Third-Party damage cover
• Own bike damage cover
• Protection against theft
• Protection against natural/man made calamities
• Protection as per add-ons (Zero depreciation, engine protection, accessories protections, etc.)

Exclusions:

• Normal wear and tear
• Riding illegally or under influence
• Unapproved bike modifications
• War effects
• Mechanical or Electrical Breakdowns

3. Standalone Own-Damage Insurance

Standalone own-damage insurance focuses solely on covering damages to your bike. This type of insurance is only available if you already have third-party insurance from the same or other insurer. This policy is best for those who already have third-party insurance and want to further protect their bike or two-wheeler.

Inclusions:

• Own bike accident damages
• Natural Calamities
• Man-Made hazards
• Theft
• Fire

Exclusions:

• Third Party Liability
• Damages that have been caused to the bike consequently and not during an accident
• Drunk Riding or Illegal Riding

You can buy two-wheeler insurance online through Coverfox in Hyderabad very easily by:

1. Head over to the Coverfox website
2. Enter your bike’s registration number in the field given
3. Click on the button “Bought a new bike?” in order to purchase a new insurance policy
4. Fill in the RTO registry details
5. Click on “Get Quotes”
6. You will be redirected to a page where you will be presented with different quotes from reputable insurance companies
7. Select the policy that best fits your needs
8. Pay online through the secured payment gateway
9. Your policy will be e-mailed to you on your registered address.

The process of renewing your two-wheeler insurance is simple and fast. To do so, follow these steps:

1. Head over to Coverfox website
2. Enter your registration number
3. Enter your previous policy details
4. Click on Get Quotes
5. Select the new policy that fits your needs
6. Pay online through the secured payment gateway.

If your old policy is from Coverfox then:

1. Head over to Coverfox website
2. Click on Renew here
3. Enter your mobile number to login or use your old policy number
4. Select the new policy that fits your need
5. Pay online through the secured payment gateway.

Your policy will be renewed after the payment and verification of documents.

Documents Required to Buy/Renew Insurance Policy in Hyderabad:

• Proof of purchase of the two wheeler (In case of new vehicle)

• Registration Certificate (RC)

• ID proof

• Address proof

• Driving Licence (DL)

• Previous Insurance policy (Incase of Renewals)

Follow these steps to make a claim for your two-wheeler insurance in Hyderabad:

1. Contact your insurance company at the earliest and inform them about the incident
2. Lodge an FIR if required (In case of theft or severe accidents)
3. Evaluate the damage done through a garage (preferably an authorized garage by your insurance company)
4. Pay the service centre and apply for reimbursement
5. After filling in the necessary forms, submit the required documents
6. After proper verification, you will be reimbursed for the claim amount decided
7. Coverfox also offers excellent customer support if required.

Documents required for filing a claim are:

• Duly signed claim form

• Copy of valid vehicle Registration Certificate (R.C.)

• Copy of valid Driving Licence (D.L.)

• Copy of first two pages of policy document

• FIR for accidental damage

• Original repair bill, cash receipt, and proof of release.

Riding and living in Hyderabad is expensive. You should save money whenever possible to make wealth. Insurance premiums can be expensive if not carefully seen through. Here are a few tips to reduce insurance premiums in Hyderabad.

• Maintain NCBs (No claim bonuses) by avoiding making small/minor claims

• Opt for longer term insurance plans

• Maintain a good driving record

• Renew insurance policy on time before expiry

• Compare different insurers online

• Have proper safety gears installed

• Select high voluntary deductibles

• Bundle Policies (Third party + Own Damage insurance)

• Select only add-ons that you require

Riding on streets of Hyderabad is exhilarating; whether you take Tank Bund sunset rides or just daily commuting, it is crucial to have a two wheeler insurance policy for your prized possession. Insure your bike with Coverfox today. Ride safely.