Know what you are buying! Before you make your mind about your policy, it is recommended to go through our FAQs to understand the different aspects of a bike insurance policy.
What is Two Wheeler Insurance?
Two Wheeler Insurance covers damage to your bike caused by natural and man-made calamities. The Motor Vehicles Act, 1988 makes it mandatory for every vehicle owner to have a motor insurance policy for their vehicle. Driving without insurance for your two-wheeler is punishable under the law.
How is the premium calculated?
The factors taken into consideration by the insurance company while determining the premium rates are the IDV, bike model/make, zone of registration, year of make, age of bike and cubic capacity. You are entitled to avail the No Claim Bonus upon renewal if you have not filed a claim during the preceding year.
What is Third-party Bike Insurance?
Third-party bike insurance covers your legal liability to a third party when your two-wheeler is at fault. However, it does not cover damages caused to your vehicle or injuries you have suffered because of the accident. To drive on the Indian roads, you must at least have a third-party liability cover.
What is Comprehensive Bike Insurance?
Comprehensive Bike Insurance covers your bike against damages and losses suffered due to accidents, theft, and natural & man-made calamities. It covers legal liabilities arising due to i) death of the third party, ii) injuries caused to the third party and iii) property damage suffered by the third party as a result of your insured vehicle.
What are the documents required to file a Two Wheeler Insurance claim?
Your policy papers will mention all the documents that need to be submitted while filing a Two Wheeler Insurance claim. The common ones include filled-up claim form, copy of driver’s license, copy of registration certificate of the vehicle, FIR (in the event of third party death, demise or property damage) and repair bills and payment receipts.