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Two Wheeler Insurance Inclusions and Exclusions
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Whether you buy a brand new or a pre-owned bike, buying a two-wheeler is always exciting. However, buying a two-wheeler also means that you have to fulfil a few responsibilities too. Apart from being a cautious rider, you must also know that, if you want your two-wheeler to run on the road it has to have a valid insurance policy. Having two-wheeler insurance is required not just to comply with the legal norms but also has immense benefits.
Understanding the basics of your two-wheeler insurance is no rocket-science. Most people find terms and conditions to be difficult to understand, but it isn’t really so. If you are aware of the various inclusions and exclusions of your two wheeler insurance policy, making a claim can be a smooth process. In this article, we are going to discuss the primary facts about the inclusions and exclusions of your two-wheeler insurance.
What are Two Wheeler Insurance Inclusions and Exclusions?
The inclusions and exclusions in a plan are dependent on the kind of coverage that you have opted for. Traditionally, there are two types of insurance plans:
1. Third-Party Liability Two-Wheeler Insurance Plan
2. Comprehensive Two-Wheeler Insurance Plan
Let us read about these plans and their coverage in detail.
Third Party Two Wheeler Insurance
As per the Motor Vehicle Act, 1988 it is mandatory to have third-party liability bike insurance. Under this policy, the insurance company will pay for the financial liabilities that arise when your bike causes injury or death of a third person or damage to a third-party.
In third-party insurance, there are three parties involved in the process:
- You-the owner-rider and policyholder.
- The insurance company.
- Any other individual or property apart from the 2 mentioned above.
Inclusions Under Third Party Two Wheeler Insurance
Third-Party Insurance is the most basic kind of insurance. In the following scenarios, the liabilities will be paid by the insurance company:
- The loss of life of a person who dies due to an accident with your bike.
- If a person gets physically hurt or injured, the liability of the injury will also be taken care of by the insurance company.
- If a property suffers damage due to an accident with your car, the loss becomes your liability. Your third-party insurance plan will pay for these losses too.
Exclusions Under Third Party Two Wheeler Insurance
Excursions are the conditions for which an insurance company does not cover the damages. A company may have its own set of exclusions, however, the most common ones are listed below:
- Natural Disasters
Damages that occur due to natural or man-made disasters.
- Invalid Driver’s License
If the bike was being driven by a rider who is without a valid driver’s licence.
- Drunken Riding
If the rider was riding under the influence of alcohol or any other kind of intoxication.
- Outside Geographical Limitations
When the policyholder was riding a bike outside India.
- Consequential Damages
Consequential losses are not covered under third-party insurance.
- Expired policy
An expired or invalid policy will not fetch you any benefits.
- Contractual Liabilities
No contractual liabilities are covered.
- Malicious Acts
If the damage has occurred during any illegal act.
- Against Usage Limitations
Damages that are caused when the bike was used against its usage limitations, for instance, a privately owned bike cannot be used for a commercial purpose.
Inclusions and Exclusions Under Comprehensive Two Wheeler Insurance
As the name suggests, a comprehensive two-wheeler insurance policy would provide you much wider cover, that too against almost every type of accidental damage to your two-wheeler. Comprehensive two-wheeler insurance policy is a combination of 2 kinds of covers - own-damage and third-party liabilities.
Inclusions Under Comprehensive Two Wheeler Insurance
Let us take a look at the cover that is provided by Comprehensive Bike Insurance policy
1. Own-Damage Repair Cost
When your two-wheeler is involved in an accident, the cost of repair will be carried by the two-wheeler insurance company:
- Collision/crash with a person or object or vehicle.
- Damages that are caused due to natural disasters such as floods, landslides, earthquakes, cyclones etc.
- Damages that are caused due to man-made disasters such as vandalism, riots.
- If your bike catches fire, the company will cover the losses.
2. Third-Party Liabilities
A third-party liability insurance comes into play when you injure a person or cause damage to something that belonged to somebody else while riding your bike. It includes:
- Third-party liability that covers injury and death.
- Loss of property of the third-party.
- Personal Accident cover for the owner-rider.
God forbid if your two-wheeler gets stolen the insurance company would cover the loss by paying you the bike’s IDV.
Exclusions Under Comprehensive Two Wheeler Insurance
1. Drunken Riding
If you are found to be riding under the influence of any intoxication you would not be able to make a claim.
2. Unauthorised Driving
Unless you/rider have a valid driver’s license, a claim cannot be made.
3. Intended Accident
If you cause deliberate damage your two-wheeler, the company will not accept the claim.
4. Illegal Use
If you have damaged your bike when using it for some illegal activities the claim would be rejected.
5. Consequential Damages
The damages that are caused to your bike after an accident has taken place will not be covered.
6. Careless Riding
The damages that occur because of your negligence are not included in the coverage.
Depreciation is the normal wear and tear of the two-wheeler and is not covered under a vanilla insurance policy.
8. Expired policy
An expired or invalid policy will not fetch you any benefits.
9. Excluded Add-On Covers
You would be covered only against the add-on that you have bought with your policy.
4. Personal Accident Cover
Whether you opt for a third-party or comprehensive two wheeler insurance policy, you must have a valid personal accident cover along with the insurance policy. As per the IRDA's regulations, a vehicle owner must have a Personal Accident Cover of INR 15 lakhs.
Add ons for your Two Wheeler Insurance
Two Wheeler Insurance Inclusions and Exclusions FAQs
1. Do inclusions and exclusions really differ from one insurance company to another?
Most of the insurance companies have almost similar policies when it comes to inclusions and exclusions, however, it is recommended that you go through the specifics of the policy offered by the company before purchasing.
2. Can I check the list of inclusions and exclusions in my two-wheeler policy?
Yes, all two-wheeler insurance companies list all the policy details in their brochures and policy papers. However, you can check the same from the official website as well.
3. Why do insurance companies have exclusions in their policy?
Exclusions help the insurance companies to keep the premiums fair and just. They eliminate the possibility of covering certain risks that the company is unwilling to take. Sometimes risks occur naturally and cannot be covered such as depreciation. Damages that are illegal or violate the law are also excluded from the policy.
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