About two wheeler insurance
A two wheeler insurance policy assists you in providing financial coverage against loss or damage caused by you or your vehicle.
Without a valid bike insurance policy, you have to bear all the financial burden due to any loss or damage caused by your two wheeler.script async src=”https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-8155621400671570″ crossorigin=”anonymous”>
Why is two wheeler insurance necessary in India?
As per Indian Motor Vehicles Act, 1988, all motor vehicles running on Indian roads should have valid insurance policy. It is illegal to ride your two wheeler on Indian roads without third party liability cover. A liability cover is mandatory for riding your bike on Indian roads.
Having an insurance policy is important and necessary as it provides financial protection against unfortunate accidents which could cause damage to the insured vehicle or third party property, physical injury to the occupant or rear seat occupant or pedestrian.
With two wheeler insurance policy
You will not have any financial stress: Two wheeler insurance policy provides financial shield in case of theft of your vehicle or any damage caused or caused by your vehicle.
You are legally protected: As it is mandatory to have an insurance policy for riding on Indian roads, it is recommended that you keep a photocopy of the valid insurance policy to avoid paying the penalty.
You will get personal accident cover: In case of accidental death or total permanent disability, the two wheeler policy holder is covered with sum assured up to Rs. 1 lakh.
Your mind will calm down: Because you know that you are financially safe against the cost of repairing the damage caused by a bike accident, your mind will definitely calm down.
Types of two wheeler insurance in India
Inclusion and exclusion of two wheeler insurance in India There are generally two types of two wheeler insurance policies:
Third party liability insurance or liability cover only
Comprehensive policy or package policy
Third party liability insurance
Third party liability insurance is legally mandatory in India. This policy only covers the loss or damage caused to the third party or property by the insured bike. It also provides personal accident cover for the bike owner. However, none of the insurers will cover the loss, damage or theft of the insured bike.
Comprehensive policy that covers your losses and third party liability. It covers your bike even if it is stolen. A comprehensive policy that provides complete protection against natural disasters and man-made disasters such as earthquakes, floods, lightning, riots, riots and terrorism.
Two-wheeled third party liability or liability cover
Coverage and exclusion cover two wheeler liability only
The third party policy covers any legal liability, which may be due to the insured bike.
Third party bike insurance gives you financial protection in case of damage or injury to another person or their property due to your two wheeler. This is a basic and compulsory bike insurance policy as per the Motor Vehicles Act 1988.
Coverage Two wheeler liability cover only:
Third party liability: Unlimited liability cover in case of death or bodily harm to a third party
Third Party Property Damage: Covers third party property damage up to Rs. 7.5 lakhs
Personal Accident Cover in Two Wheeler Insurance: The third party policy covers the compulsory owner-driver and covers the occupant in the alternate rear seat.
Owner-Driver Personal Accident Cover: In case of permanent total disability or accidental death for the owner-driver, a sum insured of Rs. 1 lakh at a premium of Rs. 50.
Accidental cover for optional rear seat rider: Personal accident cover for rear seat rider is available on payment of additional premium up to Rs. 1 lakh.
Personal accident cover table:
Exclusion of liability cover only
The damage to your two-wheeler is not covered. Any damage to the insured bike due to an accident is not covered. – – – – The policyholder has to pay the repair cost.
Accidental damage / loss / liability arising out of the prescribed geographical area.
Claims arising out of a contractual obligation.
Accidental loss / damage inflicted by a third party which may result in consequential loss.
Loss, damage, liability due to war, invasion and other war operations.
Any direct or indirect liability for radioactive contamination and nuclear weapons.
Two wheeler comprehensive insurance
Third party cover
Third party liability cover
Third party property damage cover
Personal accident cover (personal accident cover for owner-rider, optional rear seat occupant)
Coverage is a comprehensive two wheeler policy:
Self-harm: Comprehensive two-wheeler insurance policy provides financial protection against any damage caused by any man-made or natural disaster.
For instance, if your bike gets burned or stolen, you will be compensated under a comprehensive policy.
For example, if your bike is burned or stolen, you will be compensated under a comprehensive policy. Comprehensive bike insurance policy covers the cost of repairing a bike’s damage and the liability of a third party. Wide two wheeler and