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Best Insurance for Two Wheelers

Two wheeler insurance/Bike Insurance is a policy purchased to protect your motorbike or scooter from damage caused by an accident, theft, or natural catastrophe. Two-wheeler insurance protects you against third-party liability resulting from injury to one or more people. Bike insurance is an excellent way to cover the financial costs and losses that may come as a result of motorbike damage. The bike insurance policy protects all forms of two-wheelers, including motorcycles, mopeds, scootys, and scooters.

What exactly is two-wheeler insurance?

Two-wheeler insurance is a type of general insurance that protects the insured two-wheeler and its owner/driver against bad events such as road mishaps, accidents, or natural catastrophes that may necessitate an unexpected expenditure for the owner. Coverage is available for a variety of two-wheelers, including motorcycles, scooters, and Activas.

A two-wheeler insurance policy relieves the owner/driver of the insured two-wheeler, the insured vehicle, or any third party or their property of the financial and legal burden that may result from scenarios involving damages or loss.

Two-Wheeler Insurance Types

Essentially, two-wheeler insurance policies are divided into two sorts, each of which provides a unique set of benefits and incentives to policyholders.

Important Factors to Consider Before Buying Two Insurance Plans

Even the most seasoned investors might be confused by the sheer number of two-wheeler insurance service providers and plans available in the market. As a result, it makes sense to examine a few critical considerations when purchasing a two-wheeler insurance coverage.

Here are three such variables to examine when purchasing two-wheeler insurance policies

  • Two-wheeler Insurance Coverage: This is one of the most important factors to consider when purchasing a two-wheeler insurance policy. Personal accident coverage of up to Rs. 15 lakh is available with two-wheeler insurance. It also provides complete coverage against third-party legal liability and vehicle damage. In the event of an accident, you can use cashless repair services at registered garages.
  • Online Services: A two-wheeler insurance policy can be purchased effortlessly online. You can also renew your existing insurance coverage on the move, from anywhere, at any time.
  • Premium: Another important factor to consider when purchasing a two-wheeler insurance policy is the premium. It is quite simple to obtain two-wheeler insurance rate estimates online. Using two-wheeler premium online calculator tools, you can quickly determine the premium amount.

FAQs about Two-Wheeler Insurance

  • Is it required for me to purchase insurance for my two-wheeler in India?

    Yes, it is required by the Motor Vehicle Act 1988 to have at least a valid third-party insurance coverage when riding a two-wheeler on Indian highways.

  • Third-party Insurance provides what kind of coverage?

    A third-party insurance policy will cover:

    • Legal responsibility resulting from an accident involving your covered vehicle that causes permanent harm and/or death to a third party.
    • Legal liability stemming from an accident involving your covered vehicle that causes property damage to a third party.
  • What is the punishment if my two-wheeler is not insured or my insurance has expired?

    Driving without valid insurance (at least third-party insurance) is prohibited and can result in a fine of up to Rs. 2000 or potentially 3 months in jail, or both.

  • Is hospitalisation covered by a two-wheeler insurance policy in the event of a personal accident?

    It seems prudent to protect yourself against any financial liabilities that may occur as a result of an unexpected accident. In Comprehensive Two-Wheeler Insurance Policies, Personal Accident (PA) coverage provides compensation in the event of death or permanent complete disability. You can also choose to cover the pillion passenger.

  • What are the two-wheeler insurance policy's exclusions?

    The following are the exclusions from the two-wheeler insurance policy:

    • Normal deterioration
    • Any accidents or damages to third parties caused by the driver's carelessness
    • Mechanical or electrical failure
    • Accidents or damages occur when the owner/driver of the two-wheeler is under the influence of alcohol/liquor/drugs.
    • Depreciation in the insured vehicle's value
    • Losses or losses resulting from war or nuclear dangers