If you care about your two wheeler, you need two wheeler insurance. This insurance ensures that during loss, calamity, accident, etc. all costs involved are covered by your insurance.One of the primary reasons one should buy two wheeler insurance is to protect oneself from third party liability cost. This basically means that if there is injury or loss of life during an accident, all costs involved (both injury and repairs) will be covered by insurance. Also, two wheeler insurance offers risk coverage towards physical injury as while driving a two wheeler the rider and driver are both more exposed to danger than in a four wheeler. Moreover, in India having two wheeler or four wheeler insurance is compulsory (Motor Vehicles Act)
There are generally two types of policies:
- comprehensive ones that cover against all type of wear and tears to the vehicle and its riders
- liability -only policies that cover only against injuries arising from third party.
Opt for the Long Term Two Wheeler Insurance policy:
- One time premium for 3 years.
- Lock-in the same Third-Party rates for 3 years.
- Long Term discounts.
What is covered under your two wheeler insurance policy:-
- Loss or damage to your vehicle against natural calamities -Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
- Loss or damage to your vehicle against man-made calamities -Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
- Personal Accident Cover -Coverage of ₹ 1 lakhs for the individual driver of the vehicle while travelling, mounting or dismounting from the Two Wheeler. Optional personal accident covers for co-passengers are also available.
- Third Party Legal Liability -Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.
What is not covered under your two wheeler insurance policy:-
- Normal wear-and-tear of the vehicle
- Mechanical and electrical breakdown
- Vehicle being used other than in accordance with the limitations as to use. For example, if you use your two-wheeler for remuneration purposes
- Damage to / by person driving without a valid driving license
- Loss or damage caused while riding under the influence of alcohol or any other intoxicating substance
- Loss or damage due to depreciation of the vehicle’s value
- Consequential loss – if the original damage causes subsequent damage / loss, only the original damage will be covered
- Compulsory deductibles – a fixed amount that gets deducted at the time of the bike or scooter insurance claim
- Damage to Tyres & Tubes unless the vehicle insured is damaged at the same time in which case the liability of the Company shall be limited to 50% of the cost of replacement
- Loss or damage to the accessories by burglary housebreaking or theft unless the vehicle is stolen at the same time