Two Wheeler Insurance

Insurance for a two wheeler is mandatory in India. The insurance policy is for the benefit of the vehicle owner as it secures both the vehicle and its owner. Let us try and understand two wheeler insurance better.

Types of two wheeler insurance policies

There are mainly two types of two wheeler insurance policies:

  1. Liability Only Policy, also known as Act Only Policy, covers any property damage or bodily injury to third-party. It also covers the owner of the insured vehicle. According to the law in India, it is mandatory to take this policy.
  2. Package policy, also known as Comprehensive Plan, covers all that included in the Liability Only Policy plus damage to an insured vehicle. This policy is optional.

 Two wheeler insurance premium

The insurance premium of a two wheeler is charged on the basis of:

  • Value and cubic capacity of the two wheeler
  • Age of the two wheeler
  • Place where the two wheeler is registered

What is not covered?

A two wheeler insurance policy does not cover the following:

  • Normal wear and tear and depreciation of the vehicle
  • Mechanical or electrical breakdown
  • Loss or damage to the vehicle or person where the person is driving under the influence of alcohol
  • Theft of vehicle parts that are not covered in the insurance policy

Claim process

In-case of an accident, inform the insurance company immediately, within 24 hours. Your insurance company will guide you further.

Cashless garages

Many insurance companies have a network of cashless garages where you can get your insured vehicle repaired free of cost. Just make sure to inform the insurance company in time. The list of cashless garage networks is available with the company and also on most company websites.

Renewing two wheeler insurance policy

Like your car insurance policy, it is important to renew your bike insurance policy too. It should be renewed in time without causing any break to the policy. Conventional breaking renewal policies require vehicle inspection by the insurance company. Many insurance companies have also come up with online bike insurance renewal where no inspection is required.

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