Compare & Buy Best Two Wheeler Insurance Plans

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Two Wheeler Insurance

Two wheeler insurance is same as your car insurance plan. Firstly, it is necessary to have a two wheeler insurance policy in India and secondly, it saves your money by providing required coverage in case of any damage, repairs that take place because of an accident etc. If you go to a network garage, then you can take advantage of cashless facility as the insurer will pay for the repairs on your behalf. You can buy two wheeler insurance for your bike, scooter, etc.

As it is a compulsion to have a two wheeler insurance policy, it is also necessary to take care that you choose the right one. Each vehicle has its own needs, thus insurance should meet the requirements. To get appropriate two wheeler insurance you must take advantage of free two wheeler insurance quotes that will help you in choosing the best. With the help of our comparison service, you can compare two wheeler insurance policies online and can check benefits and features of the policy. If you compare two-wheeler policies online before buying then rest assured that you will get the desired cover within your budget.

Importance of Two Wheeler Insurance Plan

The Two Wheeler Insurance refers to an agreement that provides the policyholder a cover against any kind of damage that may occur during a mishap like an accident, natural disaster or act of any theft that occur to the bike. No matter if your vehicle is a mix of commercial and personal or personal or commercial, insurance will safeguard your vehicle against all odds. Unforeseen events not only cause harm to your bike, but they also result in the mental, emotional, financial, and legal breakdown the person. This is where the two-wheeler insurance plays the vital role. Any damage that is caused because of the third party is also covered under the same.

Compare Two Wheeler Insurance Online

You can compare various two-wheeler Insurance plans online on PolicyX.com and can get the quote. You will not only get the best policy after policy comparison but you will also be provided complete assistance and guidance regarding any confusion and dilemma. There are so many insurance companies that provide the facility of the 2 wheeler Insurance to their customers; they all have their own profit and loss. Everyone needs a platform like PolicyX where he or she can compare various policy plans and then choose what suits him or her best as per the bike and situation and circumstances in which you ride the motorbike.

The comparison is absolutely free of cost and one can get information like quotes, benefits, exclusions, disadvantages various features and covers of the Two-Wheeler Insurance policy which can otherwise be tiresome if one tries to compare each insurance plan provided by various insurance companies. You can invest all the money that you save for the expense of garage for repair of your bike after any accident. One can also enjoy the cashless repair benefit at anumber of garages.

Comparing online will guide you to choose what suits your motorbike and what fits in your pocket to give you maximum profit. There are insurance plans which start at a minimal rate like Rs.2 per day. One can compare the quote of different plans and buy aninsurance policy easily from our portal. One should make it a point to check the claim settlement ratio of the two-wheeler insurance companies. Companies which have the highest claim ratio are always the first recommendation to buy.

There are few features and covers that an individual need for his or her policy, but the company does not provide them, so one can opt for variousadd-on. There will be a change in the premium amount, but safety is always better than cure. One can opt for add-ons like personal accident cover, cashless hospitalization, medical cover, zero depreciation, cover for the co-passenger on the vehicle and other features as per need and situation of an individual. Therefore, always compare and buy.

Customers have so many confusions and doubts as everyone needs a best plan for their safety. We will help you to understand the basic point like premium payment to the claim settlement, from factors like value for money and cover tenure of the insurance policy offered by different companies like HDFC Ergo two wheeler Insurance, Tata AIG Two Wheeler Insurance, Oriental Two Wheeler Insurance, and other reputable insurance companies. One can get proper assistance from our customer care department.

Importance Of Bike Insurance Renewal

There are different ways in which the policyholder can renew his or her policy. We live in an age of technology, so we can access any insurance company's online website and after filling the correct data and personal details we can renew our policy. Some insurance companies provide facility of the mobile app to the customers. You need to fill the basic information like registration number, manufacturer's name, information regarding vehicle and insurer's name.

One needs to agree to the terms and conditions of the company and then he or she can pay the premium amount easily every time by a simple log-in. One needs to be well informed about the policy details and RC information of the vehicle. You can also visit the nearest branch of the insurance company and can pay a premium with cash, cheque or demand draft. Debit or credit card can also be used. Two-wheeler Insurance policies can be canceled easily during the policy term. You need to submit valid documents such as the registration certificate of the vehicle etc.

One should always insure the vehicle owned by them as the Indian law mandate that any vehicle that is playing on Indian roads should have a third - party insurance. One should choose from the comprehensive coverage, requirements, nature of loss, and the necessity of the Two Wheeler Insurance policy. Indian Roads are full of uncertainty, narrow roads, slippery surfaces that lead to a numerous number of accidents so one needs to be prepared from all directions.

Legal responsibilities, the cost of the spare parts, garage expense result heavy on the pockets. As most of the two-wheeler riders are from middle class, they cannot afford a dent as half of their salaries disappear in its repair, so Bike Insurance is the solution. It guards you against the man-made events and the natural disasters.

Types of Two-Wheeler Insurance Plans

There are two types of two-wheeler insurance plans:

  • Third party liability insurance plan

  • Comprehensive Insurance plan

Third Party Liability Two Wheeler Insurance Plan

Third party liability bike insurance planis crafted according to the stipulations and guidelines of the Motors vehicles Act. The Act describes in detail the categories of third party injury and property damage that can occur and also specifies the amount of indemnity payable against each category of injury or damage.

In case of third party injury or property damaged by an insured bike for liability only cover, the payment of indemnity has to be made by the insurance firm to the third party.

For effecting the transfer of indemnity amount to affected third-party, claim needs to be raised for the same in prescribed claim format by the bike owner and submitted to the insurance company. Claim application should be supported by documents and bills. The insurance company can also assign inspection officer at the spot of the mishap. While settling claim amount insurance company refers to the claim form and documents submitted by the policyholder and the inspection report of the inspection officer (if assigned) and indemnifies for loss or damage as per the stipulations of third party liability cover.

Third party liability bike insurance cover essentially covers:

  • Third party death cover

  • Third party accident cover

  • Third party total/partial/temporary/permanent disability cover

  • Third party property damage cover

Comprehensive Two-Wheeler Insurance Plan

Comprehensive insurance plan is a plan that covers third-party liability as well as provides cover for own vehicle damage and personal accident cover. Comprehensive bike insurance plans can have additional features and benefits which can be includedif thepolicyholder wants to avail these options.

Vehicle cover under comprehensive bike insurance plans includes the following:

  • Damage to vehicle due to fire

  • Damage to vehicle due to natural calamity or occurrence

  • Damage to vehicle due to acts of riots or rampage

  • Damage to vehicle due to terrorist activities

  • Theft of vehicle or vehicle part

  • Damage to the vehicle while inside a carriage or lift

Personal accident cover under comprehensive bike insurance plan includes the following:

  • Cover for death

  • Cover for an accident

  • Cover for total disability

  • Cover for partial disability

  • Cover for permanent disability

  • Cover for temporary disability

  • Cover for limb and eye loss

  • Cover for injury while mounting or standing on the bike

Exclusions of Two-Wheeler Insurance Policy

Any claim process identifies authentic and non-authentic claims. Non-authentic claims are claims for those losses or injuries that cannot be attributable to ordinary external circumstances. If a claim is proven as non-authentic, then such claims are not honored by an insurance company. Incidences of such non-authentic and void claims may include:

  • Driving under the effect of intoxicating substances

  • Disregard of traffic rules

  • Driving a vehicle of poor condition

  • Mishap due to involvement in high-risk driving

  • Mishap due to involvement in riotous driving

  • Mishap due to disregard of terms and conditions of policy

  • Mishap due to over carriage of vehicle

  • Mishap while driving in uncovered terrains (like uncovered mountainous terrain)

  • Mishap outside geographical coverage area

  • Injury due to acts of self-infliction or attempted suicide

  • Participation in adventure sports and activities

  • Claim for injured driver not having a valid license

  • Damage and injury due to nuclear substances

  • Normal wear and tear damages

  • Damage in war or mutiny

  • Claim for injury or loss incurred due to earlier damages

  • Injury or damage due to mechanical or electrical breakdown of bike

Features of Two Wheeler Insurance Plans

Liabilities Only Cover: Bike owners can purchase liability only bike insurance plans being offered by top insurers which will not pay for the damage to own vehicle.

Comprehensive Cover: Bike owners can also opt for personal accident cover and bike cover along with third-party liability under a single plan.

Additional Covers: Bike owners can also include the optional covers as per their requirement and make their insurance plan more comprehensive.

Nominal Premium: It takes very little to get an adequate bike insurance. Top insurance companies are offering bike insurance starting from Rs.2 premium per day.

Short Tenure: Most bike insurance policies are for one or two years though some insurance companies are also offering same for three years.

Individual Cover: Bike insurance plans can be for a single bike belonging to an individual.

Group Cover: Group bike insurance cover can be availed for a set of bikes by family, company, corporate or any legal entity. Insurance companies may offer attractive discounts on group bike insurance, and per head premium can cost lesser.

Quick Purchase and Renewal: Bike insurance policies can be purchased online or offline with very little documentation. You can get your bike insured in no more than half an hour.

No Claim Bonus: No claim bonuses are applicable for subsequent renewals. No claim bonus is a percentage of the amount deducted from premium amount for policy renewal and no claims being raised during past policy tenures.

No Claim Bonus Transfer: If bike insurance policy needs to be transferred to another insurer then the applicable no claims bonuses can also be transferred easily.

Discounts: Insurance companies are offering discounts on bike insurance policies. Discounts on premium can be given for long-term policy of over two years and one-time premium payment. Discounts may also be given for companies for installed security features on the bike and for agroup bike insurance plan.

Customer Support: Top insurance companies are offering all-time customer support and assistance to customers. Policyholders who have suffered injury or damage can call up the insurer or PolicyX.com and get needed support instantly.

Auto Renewal: Bike insurance plans can have auto-renewal options under which a policy gets automatically renewed at the end of the policy tenure. This feature is beneficial for those who tend to forget renewal dates.

How to Choose Best Two-Wheeler Insurance Plan?

While finalizing your bike insurance policy make sure of the following:

  • Insurance company should be an IRDAI authorized

  • Insurance company should have transparent records

  • Financial soundness and abilities of the insurance company

  • Capabilities and performance of the firm in two wheeler insurance segment

  • Customer support and assistance provided by the insurance company

  • Claim settlement reputation of the insurance company

  • Insurance plan should cover your basic and specific requirements

Policy X.com uses the latest financial technology to aggregate insurance sector information on its portal. If you are using PolicyX.com platform for your insurance purchase you will get the following benefits:

  • Latest information of top insurance companies

  • Historic and latest performance records of companies

  • Instant premium calculator and quotes

  • Staff assistance and recommendations

  • Your own PolicyX.com login account

  • Secure financial transactions

  • Claim tracking and settlement

  • Easy renewal or transfer of insurance policy

  • Easy monitoring and tracking of insurance and investments

  • Rich online maneuverability experience

  • Part of premium is donated to education for the underprivileged

  • Being a PolicyX policyholder, you can avail free one-time portfolio planning service.

Calculating Two-Wheeler Insurance Premium Online

PolicyX.com provides you with a quick online bike premium calculator on its portal. Using an insurance aggregator portal is the best way to get two wheeler insurance premium online.

  • Log on to www.policyx.com and on the topmost panel select motor and then bike insurance.

  • Enter the following details in the respective boxes

    • Bike make

    • Variant (fuel/cc)

    • Registration number

    • Registration year

    • New bike policy/Renewal

    • Basic personal details (Name, city, email, phone)

  • Click to get quotes.

The premium calculation is based on the following:

  • Bike Initial Declared Value (IDV): IDV is actually the cost of the vehicle to the owner. It is the amount required to replace existing vehicle with a totally new vehicle. Higher IDV implies higher premium.

  • Depreciation: New bikes have no depreciation amount. Older bikes have larger depreciation amounts and premium increases as depreciation increases.

  • Bike age: Old bikes may cost more premiums due to depreciation and greater risk of bike malfunction.

  • Cubic capacity of bike: Bikes with larger cubic capacity have larger insurance premiums

  • NCB applicable: This is in case of renewals. NCBs are deducted from the premium amount, and the premium is lowered.

  • Discounts applicable: Applicable discounts on premium like discounts for installation of high security and anti-theft devices are deducted from the premium and premium is lowered.

Documents Required for Bike Insurance

New insurance purchase: Bike insurance purchase requires fewer documents. Just fill the application form and attach the registration copy of your bike

Renewal of insurance: You would need to attach registration copy of your bike, old insurance papers along with the renewal application form.

Claim Process

Claim settlement process differs as per the type of insurance. Bike insurance has its own specific claim process. Whether you raise a cashless or a post-payment claim you need to submit the following documents to your insurer along with the claim form:

  • Copy of your bike insurance policy

  • Copy of your bike registration certificate

  • Your or the driver's driving license copy

  • First information report registered at the police station

  • Medical bills (for personal accident cover claim)

  • Bike repair bills (for bike repair in non-networked garage)

Insurance Calculator

Customer Reviews

"long term bike insurance"
- "Great"

Freedom to choose long term bike insurance policy Read More..

Pooja Sen, Pune
Reviewed On 18-03-2018
"Additional coverage"
- "Great"

A zero dep policy is good by paying additional premium Read More..

Ravinder , Noida
Reviewed On 15-03-2018
"insurance policy online"
- "Great"

A good website to compare and buy insurance policy online. Read More..

Neeta Gaur, Kolkata
Reviewed On 12-03-2018
"Easy accessibility"
- "Great"

Any two wheeler insurance is easily accessible at the time of need Read More..

Raja Goswami, Indore
Reviewed On 08-03-2018
"Riders are covered"
- "Great"

I did not know that two wheeler insurance policy also provides coverage to the riders Read More..

Shantanu Tripathi, Chennai
Reviewed On 06-03-2018
"Car Insurance is must"
- "Great"

one might sustain a car accident but the damage caused to the vehicle can be huge. So car insurance is must Read More..

Jacob, Pune
Reviewed On 02-03-2018
"car insurance purchase made easy"
- "Great"

Comparing and buying car insurance is made easy these days. Thank you policyx Read More..

Raghunath Singh, Noida
Reviewed On 27-02-2018
"Pay little today and reap large benefits tomorrrow"
- "Great"

A car insurance gives you complete peace of mind. At the time of crisis you can reap the benefits of having a car insurance while paying little today Read More..

Roshan Joshi, Chandigarh
Reviewed On 23-02-2018
"Buying Car insurance online"
- "Great"

Its and easy and effortless job buying car insurance online these days. Also, one gets to compare plans between insurers and buys a policy. Read More..

Taaliya, Delhi
Reviewed On 22-02-2018
"Third Party Coverage"
- "Great"

It is mandatory to have car insurance in India. It comes in handy when you have third party liability coverage also Read More..

Chetali Verma, Gurgaon
Reviewed On 18-02-2018
"Fantastic"
- "Great"

Even bike insurance is available online. This is tremendous Read More..

Nimit Patel, Ahmedabad
Reviewed On 07-01-2018
"ok site"
- "Satisfactory"

ok site Read More..

Nisha, Other
Reviewed On 07-01-2018
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Aggregate Rating for Motor Insurance    [ 68  ]