Compare & Buy Best Bike Insurance Plans

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Two Wheeler Insurance

Two wheeler insurance is the 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 the required coverage in case of any damage, repairs that take place because of an accident. 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 the 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 the benefits and features of the policy. If you compare two wheeler policies online before buying then rest assured that you will get the desired policy within your budget.

Importance of Two Wheeler Insurance Plan

The Two Wheeler Insurance refers to the insurance policy that provides a cover that provides the policy holder a cover against any kind of damage that may occur during a mishap like an accident, natural disaster or act of any thief that occur to the bike. The 2 wheeler Insurance plan is one solution to all the problems and worries that you face for your motorbike.

No matter if your vehicle is a mixed commercial and personal or personal or commercial, insurance will safeguard your motorbike against all odds. Unforeseen events not only cause harm to your motorbike, but they also result in your 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 and can get the quote for the same. You will not only get the best policy after the policy comparison at PolicyX but the policy holder will 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 the customers; they all have their own profit and loss. Policy holder needs a platform like PolicyX where he or she can compare the various policy plans and then choose what suits him or her best as per the bike and situation and circumstances in which the policy holder ride the motorbike. One can enjoy the best out of rest policy in the easiest manner only at the PolicyX online web portal.

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 that will cause a headache if one try to compare each two wheeler Insurance plan provided by various insurance providing companies. You can invest all the money that you save for the expense of garage for repair of your bike after any accident. The policyholder can also enjoy the cashless repair benefit at a number of garages.

The policy will guide you to choose what suits your motorbike and what fits in your pocket to give you maximum profit. There are numerous Insurance plans which start at a minimal rate like Rs. 2 per day. One can compare the quote of the different policies and buy a Insurance policy easily at PolicyX. 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 various add - on. There will be a change in the premium amount, but safety is always better than the cure. One can opt for add - ones like Personal accident cover, cashless hospitalization, medical covers and zero depreciation, cover for the co passenger on the vehicle and other features as per need and situation of the individual. Then, always compare.

The policy provides you one platform for the solution of all confusions. Customers have so many confusions and doubts as all want the best plan for their safety. The policy will help you to understand the basic point like premium payment to the claim settlement, from factors like value for money and the 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.

Bike Insurance Renewal

There are different ways from which the policy holder can renew his or her policy. We live in the age of technology, so we can access the insurance company's online website and after filling the correct data and personal details we can renew our policy. Some insurance companies provide a facility of the mobile app to the customer. You need to fill the basic information like registration number, manufacturer's name, information regarding the 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. One needs to be well informed about the policy details and RC information of the vehicle. The policy holder can visit the nearest branch of the insurance company and can pay the premium with the cash, cheque or demand drafts. Debit card and a credit card can also be used. Two wheeler Insurance policies can be canceled easily during the policy term. You need to submit the valid documents such as the registration certificate of the vehicle has canceled the insurance policy by the Regional Transport office.

One should always ensure the vehicle 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 in the pockets and result in mental pressure for the customer. As most of the two - wheeler riders are from middle class, they cannot afford a dent causing half of their salaries disappear, so the Bike Insurance is the solution. It's not only guards 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 two wheeler insurance plans are 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. The Act also specifies the amount of indemnity payable against each category of injury or damage.

Bike insurance companies provide for covers against each category of third party injury or damage in their liability only bike insurance policy of amount as specified by The Motors and Vehicle Act. In case of third party injury or property damage by a bike insured for liability only cover, the payment of indemnity has to be made by the insurance firm to the third party.

For affecting 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 policyholder and submitted to the insurer company. The 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 two wheeler 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 two wheeler insurance plan that covers third-party liability as well as provides cover for vehicle damage and personal accident cover. Comprehensive plans can have additional and optional features and benefits which can be included if the policyholder wants to avail the additional cover options. Let us now talk about the other covers that are available in a comprehensive bike insurance plan.

  • 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 bike while inside a carriage or lift

Personal Accident cover under comprehensive insurance plans

These are optional covers. Insurance companies are offering different types of optional covers and assistance to their policyholders and these may include:

  • Roadside repair assistance

  • Towing assistance

  • Accommodation cover and assistance

  • Alternate conveyance arrangement cover

  • Interior and remote territory cover

  • Legal assistance and cover

Exclusions of Two Wheeler Insurance Policy

Top Insurance companies have developed a foolproof and methodical claim process and categorized application format requiring submission of supporting documents. The claim process is such that to quickly identify 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 the insurer 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

  • 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 license or 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: Owners can purchase from liability only insurance plans being offered by top two wheeler insurers.

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

Additional Covers: It 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 two wheeler insurance. Top insurance companies are offering insurance plans 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 insurance policies for three years.

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

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

Quick Purchase and Renewal: Two wheeler insurance policies can be purchased online or offline with very little documentation. You can get your auto 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 the 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 vehicle and for a group two wheeler insurance plan.

Customer Support: Top two wheeler 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 the needed support instantly.

Auto Renewal: Bike insurance plans can have auto-renewal options under which the 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

With so many insurance plans and best two wheeler insurance companies, it is indeed difficult to choose an insurer and insurance plan. PolicyX.com provides a customer portal where bike owners can purchase two wheeler insurance plan same as direct purchase price. PolicyX.com is not a product portal for any particular insurance company. It is entirely a customer portal that enables customers to best manage their investments and insurances and make choices that best fit their specific purposes and preferences.

Policy X.com provides you with a two wheeler insurance calculator and you can get your insurance quotes in a jiffy by feeding in some basic vehicle details.

You can also seek assistance in choosing your bike insurance plan from PolicyX.com staff by mailing to them at helpdesk[at]policyx.com or you may also call them at 1800 4200 269.

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

  • The insurance company should be IRDA authorized

  • The insurance company should have transparent records

  • The financial soundness and abilities of the insurance company

  • The capabilities and performance of the firm in two wheeler insurance segment

  • The customer support and assistance provided by the insurance company

  • The claim settlement reputation of the insurance company

  • Insurance plan should cover your basic and specific requirements

Choose a plan that is best fit for you. For example, a top ranking insurance company with sound abilities may be providing top-rated insurance services in the metros but may have limited presence in your area. You may be a person who needs to travel by your bike often to remote areas or difficult terrain. Or it may be that you may seek a comprehensive insurance plan with additional coverage such as legal assistance and coverage. In such cases of special requirements be sure to take the plan that best addresses your need pack.

Policy X.com uses the latest financial technology to aggregate insurance sector information on its portal. If you are using the Policy X.com platform for your insurance purchases you benefit in the following ways:

  • Latest information of top rated 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 the PolicyX.com 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

Top insurance companies offer a hassle-free and seamless claim settlement process. The claim settlement process differs as per the type of insurance. Bike insurance has its own specific claim process. If you have met with an accident involving another party or vehicle, do not lose temper or get into a brawl. Keep your calm and do first things first. Should you face a condition covered under your bike insurance plan then you can raise a claim for the same by the following procedure:

  • Attend to self and injured person care: In case of any injury, it is foremost important to seek medical treatment for yourself or any other person who has got injured including thethird party.If you are not in good condition yourself then first get into a condition in which you can help others.

  • Note down colliding vehicle details: In case of collisions note down the colliding vehicle’s vehicle number if you are in a condition to do so.

  • Register an FIR: Accidents and thefts need to be reported to the police. Go to the nearest police station and register an FIR and keep a copy of FIR

  • Immediately contact your insurer: If you are the policyholdercall your insurer at the helpline numbergiven on your bike insurance paper. Give details of your policy number, date and time of themishap. If you are the driver and not the policyholder contact the owner of the bike who is the policyholder.

  • Follow insurer instructions: You may be assigned an inspection officer at the mishap site. If inspection officer is not assigned proceed with vehicle repair.

  • Repair of Bike at the networked garage: You can call up networked garage staff at the site or seek towing assistance from your insurer if your policy mentions so. You may also tow your bike yourself to the nearest networked garage.

  • Raise cashless claim: In the networke dgarage, you can raise acashless claim for repair of your vehicle. Follow the cashless claim procedure as mentioned in your policy. The amount is settled directly between garage supervisor and your insurer.

  • Repair of the bike in the not networked garage: Several times reaching a networked garage may not be feasible. In that case get the repair bills from the non-networked garage or repair centre from where you have got your bike repaired and follow the claim settlement process for non-networked garage repair as mentioned in your policy.

  • Documents required for claim process: Whether you raise a cashless or a post-payment claim you need to submit, it 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)

Why Choose PolicyX for Your Two Wheeler Insurance Policy?

It is a fact that we all love our vehicle be it a scooter, scooty or a motorcycle. It aids us in our daily commute, which might be for fun or some official work. While we use it on a daily basis, it's become essential to buy insurance coverage for the same. Not just because it is mandatory and but also because it can help us in saving a lot of money in terms of repairs that the vehicle needs to ensure in case of a mishap.

At PolicyX.com we help our consumer in choosing the best two wheeler insurance plans with just a few clicks. Here you will get free insurance premium quotes that will assist you in comparing different Bike policies from top brands. By taking advantage of our free and unbiased comparison service, you can compare free quotes and can buy the desired plan easily. If you are looking for the most cost effective two wheeler insurance policies, then you can buy the same at our portal. We provide free instant quotes from top insurance companies in India. By using our free comparison service you can save up to 60% on insurance premiums. Insurance papers along with the renewal application form.

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