There are primarily two types of two wheeler insurance policies:

1. Third-Party Liability Insurance: This is the minimum mandatory requirement as per the Motor Vehicles Act. It covers damages caused to third parties including bodily injury, death, and property damage.
2. Comprehensive Package Policy: Comprehensive policies provide wider coverage, including own damage along with third-party liability. It protects your two wheeler against theft, accidents, natural disasters, vandalism, and more.

• Covers damages to third parties involved in accidents caused by the insured vehicle.
• Mandatory by law for all motor vehicles.
• Limited coverage; does not cover own damage to the insured vehicle.
• Generally, more affordable compared to comprehensive policies.

• Offers extensive coverage, including own damage, third-party liability, and additional benefits.
• Provides financial protection against a wide range of risks, including accidents, theft, natural calamities, and vandalism.
• Optional but highly recommended for comprehensive protection.
• Typically more expensive than third-party liability insurance due to broader coverage.

Choosing the right two wheeler insurance policy involves considering several factors:

1. Coverage: Assess the coverage provided by different policies. Opt for a plan that offers comprehensive coverage including own damage, third-party liability, and additional riders for enhanced protection.
2. Premiums: Compare premiums across different insurers. While affordability is important, ensure that the coverage provided justifies the cost.
3. Claim Settlement Ratio: Check the claim settlement ratio of insurers. A higher ratio indicates the likelihood of claims being settled promptly and efficiently.
4. Add-on Covers: Evaluate the availability of add-on covers such as zero depreciation, roadside assistance, and personal accident cover for passengers.
5. Customer Service: Consider the insurer’s reputation for customer service and responsiveness to queries and claims.

Financial protection against various unanticipated events, including accidents, theft, natural disasters, and third-party liabilities, is offered by two-wheeler insurance. Here are some key reasons to consider getting two wheeler insurance:

1. Legal Requirement: The law mandates that every motor vehicle, including two wheelers, must have at least a third-party liability insurance cover.
2. Financial Protection: Insurance covers the repair costs or replacement of your two wheeler in case of damage due to accidents, natural disasters, theft, or vandalism.
3. Third-Party Liability: It covers damages or injuries caused to third parties in accidents involving your two wheeler, shielding you from legal and financial liabilities.
4. Peace of Mind: Having insurance offers peace of mind, knowing that you’re financially protected against unexpected events on the road.

Comparing bike insurance plans helps you to:

• Find the best coverage at competitive prices.
• Understand the features and benefits offered by different insurers.
• Assess additional benefits or add-ons provided by various insurance companies.
• Ensure that you get the most suitable policy tailored to your requirements.

Add-ons or riders enhance the coverage of your bike insurance policy. Common add-ons include:

• Zero Depreciation Cover
• Roadside Assistance Cover
• Engine Protection Cover
• Personal Accident Cover for Pillion Rider
• Consumables Cover

• Premium: The amount you pay to the insurance company for coverage.
• Deductible: The amount you agree to pay towards a claim before the insurer pays.
• Insured Declared Value (IDV): The maximum amount the insurer will pay in case of total loss or theft of your vehicle.
• Endorsement: A change or modification made to the insurance policy.

Bike insurance premium is calculated based on factors such as:

• Bike’s make and model
• Age of the vehicle
• Insured Declared Value (IDV)
• City of registration
• No Claim Bonus (NCB)
• Add-on covers opted for

To make a claim on your bike insurance policy:

• Inform the insurance company immediately after the incident.
• Fill out the claim form and submit it along with required documents.
• Follow the process outlined by the insurer for survey and assessment of damages.
• Cooperate with the surveyor and provide necessary information.
• After approval, the insurer will settle the claim amount as per the policy terms and conditions.

Documents required for a bike insurance claim include:

• Duly filled claim form
• Copy of bike insurance policy
• Registration certificate (RC) of the vehicle
• Driving license
• FIR copy (in case of theft or third-party damage)
• Repair estimates and bills

You can renew your bike insurance plan:

• Online through the insurer’s website or mobile app.
• Visit the nearest branch office of the insurance company.
• Through authorized agents or intermediaries.
• Ensure to renew the policy before the expiry date to avoid a lapse in coverage.