Two wheeler Insurance
Starting at only ā¹1.5 per Day*

Bike Insurance is the best solution that can help you cover the financial costs and losses that can arise because of an accident. A two-wheeler insurance policy covers all kinds of two-wheelers such as a scooter, motorcycle, moped, etc. irrespective of their use, which could be commercial or personal.
The concept behind two-wheeler insurance is to bring a financial cover against unforeseen damage that is caused to the two-wheeler, the riders as well as the other people or property involved in an accident.
However, according to a recent survey, it has been seen that 75% of the two-wheelers in India are still uninsured.
There are two types of insurance- one part of the insurance policy provides coverage for the damage done to anyone else due to the accident or his vehicle or property, which is covered under a Third-party liability cover, and the other part provides coverage for the damage done to his own bike, which is covered under OD component.
Bike insurance companies offer three main types of bike insurance policies:
Third-party bike insurance means that in case of an accident of your bike some other person, property or vehicle is also injured, that financial loss will be taken care of by the insurance company. This kind of insurance covers the minimum and is a compulsory requirement of providing coverage against the losses of the third party.
For example, if your scooter hits another personās bike, that bikeās repair cost will be borne by your insurance company. However, the company would not cover the cost of repair to your own two-wheeler.
To understand the difference between a third-party and comprehensive two-wheeler plan, let's take a look at the table given below:
Parameters | Third-Party Two-wheeler Insurance | Comprehensive Two-wheeler Insurance |
What does it cover? | Covers for the monetary losses caused to the other person, property or vehicle | Offers monetary cover for the damages to your own two-wheeler as well as the damage to another person, property or vehicle
|
What does it NOT cover? | Damage to own two-wheeler Or When the damage is caused when the vehicle was being driven-
Two-wheeler theft | Damages that are caused by-
Or when the damage is caused when the vehicle was being driven-
|
The option of an Add-on Cover | There are no add-ons in a Third-party insurance | Various add-ons are available like-
|
Need | Mandatory | Optional, the choice is yours |
This is the latest addition to the category of bike insurance, which allows you to insure your bike for a period of 2 or 3 years together in a single policy. You do not have to go through the trouble of renewing the plan every year. You have this option in both third-party two-wheeler insurance as well as comprehensive two-wheeler insurance.
Having insurance for your two-wheeler shouldnāt just be a mandatory formality, for it also comes in very handy when one gets involved in an accident.
However, if you are contemplating whether to opt for two-wheeler insurance or not, read the benefits of having one:
Let us take a look at what is the scope of two-wheeler insurance:
Basically, a comprehensive bike insurance plan provides overall coverage to all types of accidental risks that might be involved with your two-wheeler.
Both the policies come with a binding personal accident cover that is mandatory to be taken. This covers the owner-driver with any disability or death caused because of the accident and comes with a cover of INR 15 lakhs. In case the owner-driver of the two-wheeler suffers permanent disability or death then 100% of the value, which is INR 15 lakhs, will be paid.
However, when there is a permanent partial disability, 25-75% of the total value is paid, depending on the severity of the disability, according to the table:
Cover For | Percentage of Compensation |
Death | 100% |
Loss of 2 limbs or 2 eyes or 1 limb or 1 eye | 100% |
Loss of sight or 1 eye or 1 limb | 50% |
Permanent Total Disability | 100% |
Comprehensive two-wheeler insurance allows a wide scope of cover, but there are certain expenses that are not covered under it. These are called exclusions and most two-wheeler insurance companies do not cover them.
Drunken Riding | Your insurance company will not accept your claim if you were drunk or intoxicated when the accident took place. |
Unauthorised Riding | Your claim will also not be accepted if the rider does not have a valid Driverās License |
Consequential Damages | The damages that are caused after the accident are called consequential damages and are not covered under insurance |
Negligence | If the accident has happened because of your own inattentiveness, you will not be able to claim the damages. |
Excluded Add-Ons | Even if the company offers particular benefits but you do not have them in your plan, you will not be able to claim them |
Let us now see what are the exclusions, or what all is not covered, in a Third Party two-wheeler insurance:
Own Damages | Third-Party two-wheeler insurance will only cover the damages to the other person/ bike/property. The damages to your two-wheeler will not be covered. |
Drunken Riding | Your insurance company will not accept your claim if you were drunk or intoxicated when the accident took place. |
Unauthorised Riding | Your claim will also not be accepted if the rider does not have a valid Driverās License |
Theft | If your bike is stolen, the third-party two-wheeler insurance will not cover your loss |
If you plan to buy the best two-wheeler insurance online, it is recommended that you draw a comparison between the different plans available and then select the one that provides you with a better cover and also suits your requirements. Comparing the plans online makes the screening process easy and hassle-free.
You may want to consider the following parameters when selecting a plan:
An online premium calculator is a great tool that helps in giving an estimate of the premium that you need to pay. With an online bike insurance premium calculator, it becomes simple and easy to compare the premium that is being offered by different companies which in turn helps you select the best two-wheeler insurance plan.
There are various premium calculators available online, you can look for one in your search engine. Once you find one, you need to enter the following details:
The premium will vary for a single-year policy and a multi-year policy. Some companies do offer discounted premiums on a multi-year policy.
If you follow all the procedures of the claim, claiming the bike insurance will be a piece of cake. You simply need to follow the steps given below:
Depending on the kind of bike insurance plan you have, your claim would be either Cashless or you would pay the expenses first and then be reimbursed.
Given below is a list of the documents that you would have to submit when making a claim for your two-wheeler:
There has been a steady increase in the number of two-wheeler accidents, making a two-wheeler insurance plan all the more necessary. There are a plethora of two-wheeler insurance companies in the country, however, the following two-wheeler insurance companies, which are approved by the IRDAI, offer a comprehensive scope of cover.
Name of the Company & Plan | What makes it the best |
Bajaj Allianz Two Wheeler Insurance |
|
Bharti AXA Two Wheeler Insurance |
|
HDFC ERGO Two Wheeler Insurance |
|
Reliance Two Wheeler Insurance |
|
Oriental Two Wheeler Insurance |
|
The policy tenure of two-wheeler insurance can be for 1 or 2 or 3 years, after the completion of which you need to renew the policy. Renewing the policy has been made very easy and can be done online in no time. All you need do is visit the official website of your two-wheeler insurance company, enter the bike details, enter the details of the existing policy, select what you want in the plan, pay the premium and it is done. Renewing a lapsed or expired policy online is a safe and quick way and you can do it at your convenience.
Given below is a list of the documents that you would need when renewing a lapsed/expired two-wheeler insurance policy online, along with a duly filled Insurance Renewal Form:
You would also require a debit/credit card to pay the premium. You can also make the payment through net banking.
While renewing an Expired Two-wheeler Policy
Since your two-wheeler insurance comes with an expiry date, renewing it timely is extremely vital. This careless slip-up can not only make a huge dent in the wallet, but it is also illegal. Ideally, you need to renew your bike insurance plan before it expires. However, if your two-wheeler policy has expired:
Remember:
Timely Renewal
It is imperative to renew a lapsed policy within a period of 90 days otherwise No-Claim Bonus and all the other benefits will be considered invalid.
The poor road condition of our roads along with negligent and rash riding often leads to accidents that can cause injury not only to the rider but also the people, damage to a property, and death. To compensate for the losses or damages done to the victim or its property by the insured vehicle, two-wheeler insurance has been made mandatory.
Two-Wheeler Insurance Companies Offer An Array Of Add-On Options To Their Customers. The Most Popular Ones Are:
Insured Declared Value Or Idv Is The Upper Limit Of The Compensation That You Would Receive In Case Of Repairing Damages, Vehicle Theft Or Total Loss At The Time Of Claim. This Value Is Fixed By The Insurance Company Based On The Condition Of Your Two-Wheeler.
In Case Of Theft Of Your Bike, File An Fir At The Earliest And Inform The Insurance Company About The Same. Along With The Copy Of Your Fir, Submit The Following Documents To Make The Claim:
Having A Personal Accident Cover Is Mandatory. The PA Or The Personal Accident Cover Comes With Both Third-Party Two-Wheeler Insurance And Comprehensive Two-Wheeler Insurance. It Covers Any Disability Or Death That Is Caused Because Of The Accident And Comes With A Cover Of Inr 15 Lakhs. In Case The Owner-Rider Of The Two-Wheeler Suffers Permanent Disability Or Death Then 100% Of The Value Will Be Paid And When There Is A Permanent Partial Disability, 25-75% Of The Total Value Is Paid.
A TP Or A Third Party Two-Wheeler Insurance Covers The Liabilities That Are Suffered By The Other Party Because Of Your Bike. It Is A Formality That Is Mandatory Under The Motor Act. Comprehensive Two-Wheeler Insurance, On The Other Hand, Will Cover Not Only The Damages To Your Bike But Also The Third Party. It Is An Optional Formality.
As The Name Suggests, A Single Year Two-Wheeler Insurance Comes With The Policy Tenure Of 1 Year, And Multi-Year Two-Wheeler Insurance Comes With A Policy Tenure Of More Than A Year. If You Purchase A Two-Wheeler Insurance Plan For Your Bike For A Tenure Of 3 Years, You Are Free From The Hassle Of Renewing It Every Year For The Coming 3 Years. As Compared To Single-Year Two-Wheeler Insurance, Multi-Year Two-Wheeler Insurance Is More Advantageous As You Can Save Almost 20-40% On The Premium Apart From The Other Lucrative Discounts. Also, Even When You Opt For Multi-Year Two-Wheeler Insurance, The Idv, I.E The Insured Declared Value Will Remain The Same Which Is Again Beneficial, Otherwise Every Year The Idv Will Reduce. The Table Shows The Rate Of Depreciation:
Age Of The Two-Wheeler | Percentage Of Depreciation |
Up To 6 Months | 5% |
6 Months To 1 Year | 15% |
1 - 2 Years | 20% |
2 - 3 Years | 30% |
3 - 4 Years | 40% |
4 - 5 Years | 50% |
When You Buy A Bundled Two-Wheeler Insurance Plan, It Provides You With A Cover For Third Party Claims For A Period Of 3 Years And A Cover For Your Own Damage For A Period Of 1 Year.
From 1 September 2019, Two-Wheeler Owners With Third-Party Insurance, Have Been Allowed To Buy Standalone Own Damage (Od) Insurance. This Policy Cover Provides Insurance To The Two-Wheeler Against Theft As Well As Own Vehicle Damages. It Is A Yearly Product That The Policyholder Has To Renew Annually And Can Only Be Bought Along With A Valid Third-Party Only Bike Insurance Plan.
When You Do Not Make A Claim Throughout The Policy Tenure, You Get A Discount On The Own-Damage Component Premium Under A Comprehensive Plan, When You Renew The Policy. This Discount Is Called A No-Claim Bonus (Ncb). The Discount Generally Increases With Claim-Free Years And Can Be Between 20% To 50%.
Claim-Free Period | No Claim Bonus |
After 1 Year | 20% |
After 2 Years | 25% |
After 3 Years | 35% |
After 4 Years | 45% |
After 5 Years | 50% |