Liability-only cover is mandatory for your Two Wheeler Insurance. However, this will not cover damage to your vehicle. Get a comprehensive policy that covers both personal injury and vehicle damage.
Maintaining a clean riding record can help you get a better premium for your insurance policy. Insurers prefer low-risk riders with no history.
Your two-wheele's make and model will have a major influence on the insurance premium. The more powerful your vehicle (more cubic capacity), the higher your premium will be. .
The city where a vehicle is registered also determines premiums. Two-Wheeler owners in metropolitan cities have to pay higher premiums since the possibility of vehicle thefts and accidents is higher.
The insurance premium amount will always be low if you haven't made any claims in the previous year against your existing policy. So don't bother with those small claims.
Additional protection such as collision cover or vandalism cover will increase your premium amount.
In India, death due to road accidents are constantly on the rise. Gruesome statistics of motor accidents in the country point to the fact that two-wheelers are involved in majority of these deaths. This is reason enough to protect yourself while you are on the roads with a suitable motor insurance policy for your bike. Two-wheeler insurance also safeguards the vehicle from several other risks, apart from accidents.
Two wheeler insurance is a type of motor insurance plan and it comes under the general insurance industry. It is sanctioned and approved by the Insurance Regulatory Development Authority of India (IRDAI). It also offers cover for damages that result from riots, strikes, explosions, etc. The coverage offered to you will depend on the insurance company. A vehicle owner must carry a valid motor insurance policy at all times. The different aspects of two wheeler insurance are as detailed below:
|Two Wheeler Insurance Rate||Types of Bike Insurance||Best Insurance Plan||Features and Benefits||Third Party Bike Insurance||Long Term Bike Insurance|
Two wheeler insurance is essentially a method of protecting your two wheeler from accidents, theft, natural disasters, and other such perils. The owner of the two wheeler will buy an insurance policy from an insurance company. As per this contract, the insurance company offers financial protection to the policyholder in the event of several incidents involving the insured vehicle. This includes accidents, natural disasters, theft, man-made calamities, in-transit damages, and third-party liability claims for loss of life, injuries, and property damage. In return, the policyholder pays a premium to the insurance company.
Bike insurance is purchased for private vehicles, commercial vehicles, and mixed vehicles. Two-wheeler insurance offers excellent protection for all forms of two wheelers including mopeds and motorcycles. When you take it, you can go for additional protection to keep your precious vehicle safe and secure. You can ride your bike with this protective shield if some mishap occurs while riding, you can get immediate assistance from any of the garages that are tied up with your insurance company.
As per the Motor Vehicles Act, 1988, all vehicles in India are mandated to have at least third-party liability insurance cover. Riding a bike without insurance can attract heavy penalties. Apart from being the law, two wheeler insurance is an essential investment as it provides the rider complete peace of mind when he/she is on the road. The protection that the insurance offers against third-party liability claims is noteworthy.
Compensation for such claims can go up to a very large amount and the vehicle owner will be expected to pay it from his/her own pocket if the vehicle was not protected with two wheeler insurance. Insurance companies now offer two wheeler insurance policies with coverage terms of 1, 2, or 3 years. Some insurers offer special discounts on long-term plans with policy term of 2 or 3 years.
|Two wheeler Insurance provider||Cashless Network Garages||Incurred Claim Ratio - Motor Insurance||Third Party Insurance Cover||Personal Accident Coverage||Policy Term||No Claim Bonus||Bike Insurance Online Renewal|
|Bajaj Allianz Two Wheeler Insurance||Available||69.19%||Available||Coverage up to Rs.1 lakh for the owner-driver||1-3 years||No Claim Bonus (NCB) benefits||Available|
|Bharti AXA Two Wheeler Insurance||2500+||89.09%||Available||Available as an add-on cover for owner-driver and the co-passenger||1-3 years||NCB of up to 50% and Up to 2.5% discount for installation of security devices||Available|
|HDFC ERGO Two Wheeler Insurance||4800+||89.43%||Available||Available for the owner-driver under comprehensive motor insurance||1-3 years||Premium discount for long-term two-wheeler insurance plan||Available|
|Reliance Two Wheeler Insurance||430+||91.39%||Available||Available as add-on coverage||1 year||NCB benefits||Available|
|Liberty Two Wheeler Insurance||Available||77.29%||Available||Available for the owner-driver||1-3 years||Discounts at renewal and NCB benefits||Available|
|IFFCO Tokio Two Wheeler Insurance||Available||84.37%||Available||Available||1-3 years||NCB benefits||Available|
|ICICI LOMBARD Two Wheeler Insurance||Available||78.91%||Available||Available||1-3 years||NCB benefits||Available|
|Universal Sompo Two Wheeler Insurance||Available||78.89%||Available||Cover worth Rs.1 lakh for the owner-driver. It can be extended to passengers||1-3 years||No Claim Bonus (NCB) is offered for claim-free experience||Available|
|United India Two Wheeler Insurance||500+||89.77%||Available||Available for the owner-driver. It can be extended to passengers||1 year||NCB ranges between 20% and 50% based on the number of claim-free years||Available|
|TATA AIG Two Wheeler Insurance||Available||79.31%||Available||Available for the owner-driver||1-3 years||For claim-free years, 20% to 50% NCB is offered||Available|
|Oriental Two Wheeler Insurance||200+||126.66%||Available||Available for the owner-driver||1 year and below||For claim-free years, NCB is offered on the premium of the new policy||Available|
|New India Assurance Two Wheeler Insurance||125+||86.95%||Available||Available for up to Rs.1 lakh for the owner-driver||1 year||No Claim Discount is offered at the time of policy renewal and this ranges from 20% to 50%||Available|
|National Insurance Two Wheeler Insurance||Available||84.16%||Available||Available for owner-driver. It can be extended to passengers||1 year||No Claim Bonus is offered for claim-free years||Available|
|Magma HDI Two Wheeler Insurance||Available||78.49%||Available||Cover of up to Rs.1 lakh is available. It can be extended to passengers||1-3 years||No Claim Bonus is offered for claim-free years||Not available|
Insurance companies offer a range of policies to suit different requirements. Owners of two wheelers can choose a policy that best suits their budget and requirements. Insurers in India offer customers two types of two wheeler insurance, which are explained below:
As the name suggests, liability only insurance provides insurance coverage in case of damage caused by the insured vehicle to a third party. Third party insurance is compulsory under Indian law and all two wheelers are required to have this form of insurance.
Liability only insurance covers the legal cost arising out of damage resulting in personal injury, property damage or death to a third party due to the insured vehicle.
Along with covering the cost of damage due to an accident or incident, most insurance companies also offer accidental death cover to the owner of the insured vehicle. This is an additional benefit that is offered to two wheeler owners. This serves as an additional cover in the event the owner is injured, with the insurance company covering the cost up to a certain limit.
Liability only insurance policies provide coverage largely to the third party and does not offer much in the way of protection for the two wheeler or the rider. However, premiums for liability only cover can be purchased from a number of leading insurance companies at an affordable rate. The cover can be purchased for a year and renewed annually.
You can get this type of insurance from all 2 wheeler insurance providers for both private and commercial vehicles. It is the most basic type of vehicle insurance. Whether you have a carrier, goods-carrying vehicle, two wheeler used for delivery of goods, or a passenger-carrying vehicle, you will get coverage for third-party liability under this plan. It covers bodily injury or death to third-party and damage to the property of third-party. This plan can be taken by the owner of the two-wheeler or a lessee who plans to buy a two wheeler on lease.
Under this type of insurance, the declared value of the insured will be fixed according to the depreciation percentage that is mentioned in the showroom price tariff list. It is applicable, if the bike is not older than 5 years. If the bike is older than 5 years, then the declared value of the insured for the bike will be the present value in the market. This applies even to outdated vehicle models that are not manufactured anymore in the market.
With a liability-only insurance plan, you will receive third-party liability cover as well as personal accident cover, depending on the company. You will be required to pay service tax for such plans. There are certain exclusions that come with this plan and they include contractual liability and death caused by or while employing someone who is responsible for reimbursing money under the policy.
This insurance plan includes two types of coverage. The protection offered by one part of this insurance is similar to that offered by the standalone liability-only plan explained above. It protects the bike owner from liabilities to a third party due to accidental injuries, death, or property damage. The other part of the insurance plan protects the insured vehicle from a host of events, including accidents, theft, in-transit damages, natural disasters, man-made calamities, etc. The vehicle owner is also offered Personal Accident cover under this scheme.
Comprehensive two wheeler insurance provides coverage for third party liability as well as protection for the insured two wheeler and rider. Comprehensive two wheeler insurance covers damage to the vehicle arising out of natural and man-made calamities as well as coverage for the owner and rider.
Comprehensive bike insurance provides complete protection in the event of an accident resulting in partial or total damage to the insured vehicle. It also covers the owner and the co-rider (included as an add-on) through personal accident cover.
With a two wheeler comprehensive insurance policy, you can enjoy good protection for your vehicle when it is stolen, damaged, or lost. It also provides personal accident cover to the owner or rider of the vehicle. Apart from this, it will also cover third-party liability. Comprehensive insurance, as the name suggests, is an all-inclusive insurance policy. You will be a smart insurance policyholder if you take such a plan as it will help you in minimising costs. Instead of investing in different types of covers at different points of your life, you can instead take a single comprehensive insurance policy in one go and enjoy maximum benefits.
Many two-wheeler riders tend to ignore the advantages of taking comprehensive insurance as they believe that it is adequate to take only the most basic form of insurance just to meet the compulsory law of having vehicle insurance. With comprehensive insurance, you will get quality coverage for yourself, your vehicle, and damage caused to the external party. It is sometimes more expensive than a liability-only insurance due to the coverage offered by the plan. A number of insurance experts generally suggest the purchase of a comprehensive insurance plan for your scooter or motorbike if you have the sufficient amount of funds to buy it.
Apart from offering all-inclusive coverage at a reasonably good price, it is also very beneficial when you cannot prove your fault due to some unavoidable reason. Moreover, with comprehensive two wheeler insurance, you do not have to be stressed if you will end up paying unnecessary extra costs while getting your motorbike or scooter fixed. Your repair bills will be accurate and hence, you will have peace of mind.
In case your two-wheeler gets damaged during a flood or gets damaged by someone messing with it, you can get your costs reimbursed with your insurance policy.
|Third Party Liability||Comprehensive Cover|
|Damage to third party||Yes||Yes|
|Personal accident cover||No||Yes|
|Loss of vehicle||No||Yes|
It is advisable to buy a comprehensive insurance plan for your vehicle as it safeguards the two wheeler from a wide range of unexpected events. Another advantage of buying comprehensive insurance is the fact that the bike owner can enhance the insurance coverage by opting for suitable add-on covers. The comprehensive two wheeler insurance plan may, however, be more expensive than the liability-only plan.
Comprehensive insurance covers you even when you are the one who is at fault. Whether the damage is caused by you or not, you will get protection with this type of policy. You will receive coverage for damages caused to you, your vehicle, third-party, and the vehicle or property of the third-party. On the other hand, a liability-only cover gives protection solely for injury or death caused to third-party and damage or loss of two-wheeler of the third-party. It does not consider the damage caused to your own two-wheeler. It covers only damages that have been caused to other vehicles.
With comprehensive coverage, you will procure liability coverage along with coverage for your own property. For liability cover, your monthly expenses will be lesser compared to the monthly expenses incurred on comprehensive insurance. However, both the types of insurance are equally helpful to a bike rider. With comprehensive insurance, you may have to pay a higher price, however, the benefits you enjoy with it are really good.
Both the covers work differently and any one may work well for you depending on your circumstance.
If you have taken a loan to purchase your two-wheeler, then you will need to consider your EMIs also while choosing your insurance. If your EMI payments are still going on, then a comprehensive cover will be ideal. This is because you will need other money to pay your EMIs. On the other hand, if you have already paid your two-wheeler loan fully and if you have a reasonably good amount of funds for emergency purposes, then you can go for liability only cover. This is because your monthly expenses for both liability cover and comprehensive cover will be completely different. There will be a huge difference between these prices. Hence, if think you can pay your expenses for your bike repairs with the additional funds that you have accumulated, then you can purchase a basic liability cover
Also, if you think you will be using your two-wheeler very rarely due to reasons such as dependence on office transport or public transport, or any other reason, then you can go for liability insurance as comprehensive insurance may not be too necessary for you.
If you own a bike in India, it is essential to buy a two wheeler insurance policy for it. The insurance plan protects the bike and its owner from financial difficulties arising from accidents, theft, damage to the vehicle from floods, lightning, etc. Insurance coverage is also offered for third-party liability claims. Additionally, the bike owner can get cashless claim settlement facility at hundreds of network garages in India.
The most basic benefit of 2 wheeler insurance is that it protects the vehicle from damage due to accidents, large or small. Even a small dent or paint touch up would result in a significant drain on the owner’s pocket. Insurance would take care of these expenses at a minimal cost.
Two-wheeler insurance provides excellent protection for the vehicle after it is damaged due to an accident or a natural or man-made calamity. It offers coverage for both partial loss as well as complete loss of the scooter. The insurance policy will reimburse costs incurred on damages caused to your own vehicle as well as third-party’s vehicle. Whether you have a vehicle for personal, commercial or mixed purposes, the policy will provide extensive protection. When you incur extremely high costs on getting vehicle damages fixed (for your vehicle and third-party’s vehicle), two-wheeler insurance is the most viable resolution. It is your responsibility to keep yourself and your vehicle and safe and secure with a two-wheeler insurance policy. With bad road conditions and lack of driving ethics among many people, this form of insurance is indispensable.
in the event that the insured vehicle is involved in an accident, the cost incurred due to damage to a third party would be covered by the insurance company.
Two-wheeler insurance provides protection for liability caused to a third-party. This includes both damages caused to the third-party’s property or vehicle as well as injuries suffered by a third-party. Under third-party liability insurance, your base premium will be fixed according to the cubic capacity of the vehicle’s engine. It is the most common type of insurance among several individuals as it is compulsory as per the laws. A third-party policy will not be seen as a valid policy if the accident occurs outside the geographical limits that are specified in the policy document. It may also be seen as invalid if the rider of the vehicle is not the owner of the vehicle. Most insurance companies have network garages even when you take a third-party liability cover for your motorbike or scooter.
owners of insured two wheelers that cause damage to a third party’s property will not have to pay for the damage caused, as the insurance company would be covering these costs.
Two-wheeler insurance extends excellent support to any rider who has to pay for damage caused to a third-party’s property. This can be his or her vehicle, house, vehicle accessories, etc. When an external party’s property gets destroyed due to your negligence or a fire or any other fault, then the losses that he or she incurs will be covered by your third-party property cover. This type of covers is exclusively given for damage caused to property. It does not include injury caused to a third-party.
In case your vehicle crashes some other vehicle, then the damage caused to the other person’s vehicle will be covered by this insurance policy. It is very important to choose a cover for third-party property damage because if the other person’s vehicle or property is very new with a high value, then it will be difficult to handle these repair expenses without insurance.
vehicular damage caused due to natural or man-made calamities as outlined in the policy document would be covered by the insurance company, including partial or total loss of the vehicle due to such events.
As discussed, two-wheeler insurance offers helps the policyholder in getting the vehicle fixed after an accident or a breakdown. Many insurance companies have tie-ups with major motorbike repair garages for repairing damages caused to vehicles. You will get special prices for repairs when you visit any of these garages. Each company will collaborate with different garages. You will need to find out these specific garages and then choose any of them when you are in need of help.
In the event of an insured two wheeler suffering a breakdown or machinery issue, insurers offer cashless garage facilities at various locations, making it convenient for the vehicle owner to get assistance. Know more about Cashless Two Wheeler Insurance.
A cashless garage facility for two-wheeler insurance is absolutely fantastic. With this feature, you will not be required to pay while your bike is getting repaired. The amount that needs to be paid for your repairs will be paid without cash. You will have to visit any of the cashless garages that are authorised by your insurance provider.
This facility is very beneficial when you meet with an accident or when your vehicle has a sudden breakdown. In such situations, you may not be equipped with instant cash to pay for your vehicle repairs. With a cashless garage facility, you can rely on your insurance company to settle the repair bills fully once the work is done.
Garages can get removed and added from the cashless garage list over a period. You will need to check this list before you choose to go for the repair services. The policyholder will have to fill a certain form before availing the cashless repair facility. He or she will need to complete certain formalities before the repairs are done. These cashless garages provide superior-quality repair services compared to normal garages.
Many two-wheeler insurance policies offer coverage to the rider even if he or she is not the policyholder. This can be a person who is delivering goods for a business or someone who is using a self-ridden hiring scooter. When the rider is a part of an accident, he or she will receive compensation from the insurance policy for meeting his or medical or hospitalisation expenditures.
Bike insurance provides additional coverage for various purposes such as accidental death, permanent or temporary disability caused by an accident, personal accident cover, zero depreciation cover, etc. You will be required to pay an additional premium to your insurer in order to enjoy the additional coverage.
When you meet with an accident, you will be mentally and physically stressed. With a two-wheeler insurance policy, you can control your stress. You will only have to file a claim and then the company will take care of everything else. You do not have to be tensed about burning a hole in your pocket for handling your medical and repair expenses.
Your NCB will get accumulated over the years if you do not make any claim with your insurance policy. With a no-claims bonus over the years, you will receive excellent discounts on your premiums. Many insurance companies allow you to earn NCB for several years. However, some companies tend to set a limit of 5 years for earning NCB.
Almost every insurance company offers immediate access to your insurance policy when you need it. Whether you have met with an accident or your two-wheeler has been damaged due to a calamity or some other reason, you can inform your insurance company and you will get the coverage after your vehicle has been examined. The claims settlement process will be taken care of by your insurance advisor. You can access your policy online or offline.
You can shift your NCB when you are replacing your current motorbike or scooter with a new one. You can move your insurance policy from your existing two-wheeler to the new one and then obtain a no-claims certificate from your insurer. You can then use this certificate when you actually purchase your new vehicle and then procure a discount for your new vehicle’s insurance premium. You also have the option to request a refund. It can be transferred only if the policyholder is the same. It can be moved from one insurance company to another.
For two-wheeler insurance, the premiums will be determined by certain vital factors such as model and make of bike, geographic location, engine capacity, age of vehicle owner, year of vehicle manufacture, voluntary deductible, no-claim bonus, etc. You can calculate your premiums by utilising the premium calculators available on many third-party sites and on official websites of the insurers.
Two-wheeler insurance comes with enhanced or additional coverage if you pay an additional premium. One of the additional covers includes zero depreciation cover in which you do not have to worry about the depreciation factor when you file your claim. Different insurance companies offer riders for accident benefit, permanent disability benefit, etc. when you pay an extra amount.
To get a quote for your two-wheeler insurance, you can visit any of the two-wheeler insurance companies or third-party websites and key in your vehicle details. You will have to enter your bike registration number, your name, your email address, and your mobile number. You can then click the feature for getting a quote. If you are renewing a particular policy, you will have to enter your existing policy number and then request a quote.
You can track the status of your two-wheeler insurance by going to the official website of your insurer or by visiting their office. If you meet with an accident and you are unaware of the status of the other vehicle’s insurance policy, you can visit the website of Insurance Regulatory and Development Authority of India (IRDAI). Here, you only need to key in information regarding the accident and the registration number of the vehicle and you will get details about the insurance status.
The Insurance Regulatory and Development Authority of India (IRDAI) raised the insurance rates for both automobiles as well as two-wheelers with effect from April 1, 2017. Due to this increase in rates, many policyholders rushed to renew their policies before the above-mentioned date. The hike in premium prices was pretty high. Let us take a look at the table to understand the difference in prices.
|Vehicle Engine Capacity||Old Premium Rate April 1, 2016||Revised Premium Rate w.e.f April 1, 2017||Percent Hike|
|Up to 75 CC||569||569||0%|
|76 CC to 150 CC||619||720||16%|
|151 CC to 350 CC||693||887||28%|
|Above 350 CC||796||1,019||28%|
Individuals who own two-wheelers that are below 75CC do not have to be tensed about anything as there is no change in premiums for this vehicle type. This was partly done in order to revise the commission assigned to agents.
Some insurance companies offer long term two wheeler insurance plans that have tenure of 2-3 years. This is useful as the bike owner can buy a suitable plan and not worry about renewal of insurance for up to 3 years.
Two-wheeler insurance is offered by different insurance companies for different tenures according to your preferences and premium payment ability. You can decide your policy term and receive a guaranteed bike insurance cover package. Many insurance companies offer two-wheeler insurance for a long period ranging from 2 to 3 years or even above.
With such a policy, you will be required to renew your insurance policy only once in 2 or 3 years. This is very beneficial as you will not have to worry about remembering to renew your policy on a regular basis. You will not have to go through the renewal process again and again. You can buy most of these long term bike insurance policies online where you only have to choose your policy period and then renew after your policy period is completed.
With long-term insurance, you can enjoy great advantages such as:
Anybody who is permitted to ride a two-wheeler can purchase insurance for two-wheelers. If you have a valid driving license, you can purchase a policy. The policyholder will preferably need to be employed or self-employed to buy the policy. If you are 18 years old and above, you can go for two-wheeler insurance. You will need to meet the minimum income criteria specified by your insurance company.
Most often, your first two-wheeler insurance policy will be a part of your vehicle’s package and this will last for 1 year. You need to renew your two-wheeler insurance policy for subsequent years. It is compulsory to protect your vehicle with insurance when you want to ride on the road.
You can apply for two wheeler insurance online in India or offline. You will get a quote of your premium when you choose the policy term. You may also receive a discount on your premiums depending on your company.
If you want to apply bike insurance offline, you will have to reach out to an insurance agent or insurance advisor who works for a two wheeler insurance company. He or she will assist you by bringing the relevant forms to you. Buying an insurance policy offline is much more expensive because you will have to renewal pay a certain percentage of your premium to the agent. Hence, your premiums will be higher when you apply offline. In an online application, there is no intermediary and hence, the premiums will be less expensive.
If you are applying bike insurance online, you can visit the official website of the company that you choose as your insurer. You can also apply on third-party websites that sell insurance in India. When you choose an online application, you can start off the process by getting a quote from different insurers instantly. Before you decide your insurer, you can make use of the online premium calculator to get an idea about the premium that you will have to pay. You will need to fill your bike registration number, mobile number, and email address in the respective fields. You can then click to buy online.
With no dearth of two wheeler insurance policies from which one can choose, a vehicle owner could end up swimming in policy terms and benefits for days on end while trying to find the perfect policy. Given below is a representative list of some of the best two wheeler insurance policies currently available.
Bajaj Allianz offer customers comprehensive coverage at an affordable cost. Customers can opt for an annual policy or a long-term two wheeler insurance policy with coverage up to 3 years. Customers can enjoy instant claims assistance and transfer up to 50% of the No Claim Bonus from any other insurer. The claim process is hassle-free and smooth as well. The inspection process employed by the insurer is hassle-free; this ensures that you receive great service at the time of policy renewal.
One of the largest insurers in India, Tata AIG offers customers two-wheeler insurance with extensive coverage. The insurance company offers five add-on covers to supplement the coverage offered by the basic policy:
The two-wheeler insurance policy offered by ICICI Lombard ensures that your vehicle is protected from all damages incurred and third-party liabilities. The comprehensive policy tenure can be chosen between 1 and 3 years. However, the third-party liability premium will have to be paid upfront for a period of 5 years. The insurer offers you add-on covers that can protect electrical and non-electrical accessories as well.
One of the highlights of the bike insurance policy from ICICI Lombard is the fact that insurance renewal is a breeze. This implies that there will be no inspection done even if the vehicle has an expired policy. The insurer also has a vast network of more than 2,500 garages where cashless claim settlement can be done.
With a high claim settlement ratio and a large partner garage network, New India Assurance guarantees quick claim settlement and an array of add-on covers to keep both the vehicle and the rider safe and secure. The customer can opt for a liability-only plan or a package policy. Based on the number of claim-free years, the customer can accrue No Claim Bonus between 20% and 50%.
The two-wheeler package policy offered by Oriental Insurance provides extensive coverage to the policyholder. Apart from own-damage cover it also offers a standalone third-party liability insurance policy and a wide variety of add-on covers. Additionally, the company offers various discounts such as Automobile Association discount, anti-theft device discount, etc. Policyholders can accrue an NCB for observing claim-free years.
Bharti AXA offers two-wheeler insurance for durations of 1 year, 2 years, and 3 years. The long-term insurance policy is beneficial as it eliminates the hassle of renewing insurance on an annual basis. The website of the insurance company enables users to shop for bike insurance in a few simple steps. It is also possible for customers to set reminders for policy renewal.
Installing safety devices and having membership in recognised automobile associations ensure lower premium on bike insurance. The insurance company offers two add-on covers under its bike insurance policy, i.e., zero depreciation cover and personal accident cover for passengers.
The two-wheeler insurance policy offered by HDFC ERGO can be purchased for tenures of 1 to 3 years. The company provides 24x7 customer support for the benefit of its customers. When buying bike insurance online through the HDFC ERGO website, there is no lengthy procedures or extensive documentation involved. The reliability of the insurer and its claim settlement history are notable as well. The insurance company has tie-ups with more than 4,800 authorised garages where customers can avail cashless claim settlement service.
IFFCO Tokio provides two-wheeler insurance with several add-on covers to offer complete protection to your bike. The company has a wide network of 3,400+ cashless garages across the country. The discounts that the policyholder can avail in the form of No Claim Bonus can go up to 50%. It is possible to easily renew two-wheeler insurance online. NCB transfer facility and Quick Claim Settlement (QCS) through a mobile app are some of the noteworthy features of IFFCO Tokio two-wheeler insurance.
Some of the significant features of the two-wheeler insurance policy from SBI General are as follows:
Reliance General Insurance offers instant two-wheeler insurance quotes. The entire new policy procurement process through the website does not require any paperwork. The hassle-free claim settlement facility and quick renewal process of expired policy are highlights of the services offered by the insurer. Insurance renewal also does not require any paperwork when it is done through Reliance General Insurance. The insurer offers cashless garage facility at more than 430 network garages as well.
National Insurance offers motorcycle insurance with extensive coverage. The tenure of the insurance policy can be 1 year, 2 years, or 3 years. The purchase of the policy can be done online in a hassle-free manner. Payments are accepted through debit cards, credit cards, or net banking. Add-on covers are offered for loss of belongings, legal liability to a paid driver, increased liability for third-party property damage, and personal accident protection for passengers.
The two-wheeler insurance policy from Magma HDI provides coverage against natural and man-made calamities, third-party liabilities, and losses/damages to the vehicle. The add-ons that can be purchased with the base policy are personal accident cover, coverage for additional legal liabilities, and bi-fuel kit coverage. The insurer also offers discounts for customers who are members of the Automobile Association of India and for those who have installed anti-theft devices on their vehicles.
United India offers two-wheeler insurance at an affordable cost to its customers. The insurer provides limited coverage through liability-only plans. Advanced coverage is offered under the package policy. The premium rebates offered are the No Claim Bonus, discount for Automobile Association membership, anti-theft device installation discount, etc. Customers can pay extra premium for insurance coverage of CNG/LPG kits or fibre glass fuel tanks that are installed in the vehicles separately.
One of the fastest growing insurance companies in India, Shriram General Insurance offers an exclusive two-wheeler insurance plan that can be purchased/renewed online. The insurance cover offers protection from financial losses when the vehicle is damaged or stolen. The mandatory third-party liability coverage is also offered along with the package policy. Additionally, the insurer offers a nil depreciation cover that protects the vehicle in a comprehensive manner.
The two-wheeler insurance policy from Universal Sompo offers basic cover along with extensions and add-on coverage. Premium discounts are offered when the customer opts for high voluntary deductibles. Installation of anti-theft devices in the vehicle will also ensure lower premiums. Bikes that are specially altered for handicapped, blind, or mentally-challenged individuals are liable to receive insurance premium rebates as well.
With an impressive network of 2500+ partner garages and claim settlement ratio that is above 95%, Liberty General Insurance is one of the notable insurance companies in India. It is possible to buy and renew two-wheeler insurance online at the website of the insurer. Insurance can be purchased for a tenure between 1 year and 3 years.
Two-wheeler insurance is monitored by Insurance Act, Motor Vehicles Act, Transfer of Property Act, as well as insurance contracts that are controlled by the Indian Contract Act. These laws have made it compulsory for any motorbike or scooter owner to have a two-wheeler insurance. With a two-wheeler insurance policy, you will get coverage from the Motor Vehicles Act for several costs that you may incur when you meet with an accident. These costs can include repairs for the vehicle after road collision, flood, theft, natural calamities, strike, riot, etc. The damages caused to your own vehicle are not compulsory for all vehicles in all cases according to the acts governing motorcycle insurance. Coverage for own damage is optional.
A two-wheeler has the potential to cause damage to others when it is ridden on the road. Even when the engine is not on, in case it falls on someone suddenly or on a property, it can cause severe damage. Hence, it is absolutely important to purchase a two-wheeler insurance when you own one. The other property may not be insured. In such cases, it is good to be safe to have insurance at least for your vehicle. Even if you have leased a motorbike, you are advised to take an insurance policy in your name.
Some aspects of two-wheeler damages that are not covered by a basic insurance policy that is required by the laws include legal liability to a rider who is paid, wear and tear of motorbike or scooter, loss of accessories, riding after consuming alcohol or any other intoxicating drug, accident cover for pillion riders, etc. The laws have mandated that you should get at least a basic insurance policy for using your two-wheeler on the road. However, you can also choose to take comprehensive insurance for extensive coverage. If you do not insure your two-wheeler and if your vehicle is involved in an accident, you will be required to pay a hefty sum of money as a fine.
Other than the fact that two-wheeler insurance is made compulsory by law, it is highly important for maintaining safety and to get reliable coverage when the rider is held for any third-party liability.
Riding a motorbike or any other two-wheeler is fun, enjoyable and generates a sense of freedom. However, you need to take a few precautions while riding a two-wheeler. When you are riding a motorbike or a scooter, you need to be extra careful when compared to driving a 4-wheeler. These precautions are simple in nature. You only need to follow the relevant traffic laws sincerely and maintain good road sense. This will help you have a smooth and safe riding experience all your life.
Motorbikes and scooters do not have safety features like cars. Hence, it is very important to follow general safety guidelines to keep the road a safe place for everyone.
Whenever you use your motorbike or scooter, make certain that you are wearing a helmet with good eye wear and a face shield. Without a helmet, there is a higher probability of facing a serious head injury. With a helmet, you can prevent head injuries extensively. Your eyes will also be secured when you wear a helmet. Eyes are very sensitive and hence, it is essential that you take basic measures to safeguard them while riding. Your helmet needs a good visor to keep you safe from dust, fog, rain, and this will, in turn, prevent you from meeting with any accident. A visor will also help you in adapting to different light conditions.
When you are riding a two-wheeler, you need to follow traffic rules diligently. You should remember to ride according to your skill level. Never over speed when you are on your bike. You will have to decide the speed at which you want to ride according to your experience and the traffic on the road. Some people may have been riding a motorcycle for many years and hence, they may tend to go very fast. However, you do not have to follow them. You will need to control your bike carefully while riding on a curvy road or while trying to get out of a traffic jam. You can develop your riding skills with time and then increase your speed. If you are keen about owning a motorsport bike, you need to be very cautious while riding it. You will have to get appropriate gear to ride such a bike. Also, you can go for advanced riding classes to make sure you have a proper riding experience.
You should avoid riding too fast especially on a motorsport bike as it is not good to apply brakes all of a sudden when there you are forced to bring your speed down due to some reason. Shifting gears and accelerating unevenly may hamper your riding experience and can also harm your bike’s quality.
You should also keep yourself away from getting distracted. You will need to be fully aware while riding a two-wheeler. You should ideally avoid listening to music on your earphones while riding as it is very important to hear what’s going on around you when you are on the road. Another individual on the road may try to overtake you from behind and you may not be aware of this with your music on. Hence, keep your music and also your phone away while riding. Taking a call while riding your bike is a very bad idea.
Before you start to ride your motorbike, make sure you check the tyres, headlight, indicators, tail-light, coolant fluids, etc. You will need to see if there are any bulges or cracks in your tire. You should also check if there are any wear and tears in your bike parts. Check your bike mirrors, your rear brakes, and front brakes. The brakes will need to be firm and stable. If you have a geared bike, check your gears and clutch thoroughly. You also need to check your horn before you start your ride.
A two-wheeler is not very stable and steady compared to an automobile. If the weather is rainy, make sure you ride very cautiously as there are more chances for slipping when the roads are wet with slush and mud. Rain may also bring out oil on your road and hence, you should decide to take out your bike only after checking. If you are living in a place where it snows, you should be extremely careful. After it snows, the roads can get wet and dangerous. Hence, it is better to leave your bike at home on a snowy day.
You should also ensure that you wear good footwear with a proper grip. If you wear flip flops or sandals, you may not get the right grip and hence, you may end up slipping or losing control while laying your bike. You might also slide on the road. This can cause serious injuries to you. With strong and good quality footwear, you can protect yourself from tiny rocks, asphalt, etc. that can lead to skidding.
It is true that a motorbike or scooter is lighter and smaller compared to an automobile. Therefore, many people may think that applying brakes at the last minute is a great idea for bikes. However, that is not the case. It is very important to maintain a reasonable amount of space between your bike and another vehicle. This can avoid unnecessary accidents. You need to have good space for your bike in a traffic jam.
You may have had only a couple of drinks and you may think it is not a big deal to get back home riding your bike. Whether you have had 1 drink or 5 drinks, make sure you leave your bike and take an alternative mode of transport. Do not take the risk of riding after intoxication. It can cause harm to you as well as to others on the road. After drinking, you may be drowsy and tired. Hence, you may not have the required ability to react appropriately.
With the introduction of online two wheeler insurance applications, the process for getting a two-wheeler insurance policy is very simple. There is not much paperwork involved and you will receive your policy immediately.
|All types of vehicles||% of discount on own damage premium|
|No claim made or pending during the preceding full year of insurance||20%|
|No claim made or pending during the preceding two consecutive years of insurance||25%|
|No claim made or pending during the preceding three consecutive years of insurance||35%|
|No claim made or pending during the preceding four consecutive years of insurance||45%|
|No claim made or pending during the preceding five consecutive years of insurance||50%|
You can pick the best two wheeler insurance plan by comparing policies between insurers. This can be effortlessly done at neutral financial websites and you can subsequently proceed to buy the most suitable plan. You can also directly approach the branch office of the insurance company and buy the policy. Another alternative is to buy the insurance policy online through the website of the insurer.
Buying motorcycle insurance used to consist of visiting various insurance companies and submitting scores of documents to get quotes and finally comparing the quotes and repeating the process to purchase a policy. However this is a thing of the past thanks to online bike insurance.
Insurance companies now offer two wheeler insurance policies online at the tap of a few buttons with the entire process being facilitated online. Thus, customers can look up policy types, scan through each policy’s features and benefits, submit their documents as well as pay for the policy all from the comfort of their home. Buying a fresh policy can be done by entering the relevant information such as the vehicle registration number, owner’s details and any other information required by the insurer. The premium payable will be reflected on screen and the customer will be provided an option to choose the policy type and any add-on covers, if desired.
On selection, the required documentation can be uploaded or will be collected from the customer’s place of residence/work and processed and the policy can be purchased hassle-free.
Buying a bike insurance policy online has a number of advantages attached to it, as given below:
Add-on covers in insurance provide extra protection to the policyholder, over and above the coverage offered by a comprehensive two wheeler insurance policy. There are several add-on covers offered by insurers and you can purchase the ones that you really need. Some of the most popular add-on covers in two wheeler insurance are zero depreciation cover, personal accident cover for the pillion rider, and 24x7 Spot Assistance.
This cover provides personal accident coverage for pillion riders in case of an accident or any circumstance as outlined in the policy document. This cover provides for insurance in the event of the pillion rider’s partial or permanent disability or death while riding the insured vehicle. The amount that can be claimed would depend on the type of injury suffered by the pillion rider at the time.
Insurance has certain implications when someone rides a bike with another person. If they meet with any accident, then both the rider and the pillion rider will get affected. Most policies do not include pillion rider’s injuries in the basic cover. One will need to take an additional cover for the pillion. It makes a lot of sense to take this cover if you travel with a pillion rider on a daily basis.
This cover would entitle the insured to round the clock two wheeler support in the event of a breakdown or a mechanical failure. Among the services offered are towing facility in the event of a breakdown, accommodation benefit due to the vehicle being unfit to ride, emergency assistance, minor repairs at the site of the accident/breakdown etc.
With this cover, you will get emergency assistance. Many insurers have toll-free numbers. You can contact your insurer by calling them and their team will rush to your accident or breakdown venue. This cover will provide you with towing help, repair services, negotiation of repair costs, etc. Even if you need help at 2 a.m. in the morning, you can count on your insurer for help with this cover.
This would provide coverage to any electrical or non-electrical accessories added to the two wheeler, resulting in the insurance company covering the cost of replacing/repairing them.
Accessories for two-wheelers offer comfort and security when you ride. They also enhance the look of your bike. When any of your bike accessories gets damaged, it is very important to have protection for it because the costs for repairing them will be extremely high. When you buy this cover, you will need to specify the cost of these accessories. In case something happens, you will get your repair costs reimbursed with this cover.
Bumper-to-bumper bike or two-wheeler insurance is also called the zero-depreciation cover. This cover is now available for two-wheelers. It is a sort of an add-on cover. With this add-on feature, wear and tear of vehicles will be included in every claim. Generally, vehicle wear and tear is not covered by an insurance policy. Your insurance company will pay the full insured amount without deducting any depreciations.
This type of cover will provide you with coverage for so many unexpected situations that you may across while riding. Since the protection offered by this type of cover is higher compared to other types of insurance and the returns earned by the insurance company are comparatively less, the premiums for this plan are higher. A bumper-to-bumper bike insurance policy does not cover depreciation on the battery or the tyres of a vehicle. The application process for bumper-to-bumper bike insurance is similar to the one for regular bike insurance.
When you are looking to buy two wheeler insurance online, it is advisable to use an online premium calculator facility to understand the extent of coverage you will be receiving for a specific premium. The two wheeler insurance premium calculator tool is available at several financial websites. The tool enables the user to make an accurate assessment of the cost of insuring his/her two wheeler.
With insurance being mandatory for all two wheelers, shopping for the perfect policy that meets all their needs and also doesn’t break the bank premium-wise is at the top of a bike/scooter owner’s mind.
After looking at insurance policies and reading the fine print to narrow down on the one that suits a customer’s needs, he/she will have to also consider how to pay for the policy.
Insurance companies have come to the rescue through two wheeler insurance premium calculators, which allow customers to ascertain the amount they would have to pay towards the insurance premium.
Insurance premiums have been on the upswing and get more expensive with each passing year, making this a very handy and helpful tool.
Premium calculators also allow the customer to get multiple quotes, enabling him to make an informed choice taking into account the cost of the policy as well as its features.
Two wheeler Insurance premium calculator operates on a simple premise, where certain information is to be inputted, based on which the calculator will display the premium cost.
A number of insurance companies have online premium calculators, making it easy for customers to access this information wherever they are.
A premium calculator will require the following information:
Based on the above, the calculator will generate a quote as per the information provided.
It is to be noted that in case of riders being added to the policy, the premium amount will increase commensurate to the rider premium to be paid.
You can calculate the premiums for your insurance by utilising the two wheeler insurance calculator which is available online. You will find it on an insurance company’s official website or on a third-party website.
You will need to enter your vehicle registration number and mention if your policy has expired or not. You will then get multiple quotes with information such as the name of insurer, IDV for the first year, premiums for a 1-year plan, 2-year plan, and 3-year plan.
In certain websites, you will need to enter the brand of your bike and the year of registration. You will also have to choose your city from the list. Accordingly, you will get your premium quote details.
Discount for members of the Automobile Association of India
In India, there are many automobile associations, riding associations, and biking associations. When you have membership with these associations, you can enjoy special discounts on your bike insurance premiums. There are also all-women biker clubs in India. A few of the famous associations that deal in riding and biking include Harley Owners Group (H.O.G.), India Bull Riders, Rolling Wheels Bikers Club (RWBC), Group of Delhi Superbikers (G.O.D.S.), The Bikerni, and many more.
Under bike insurance, when you have coverage for your bike accessories, it is very important for you to know the right value of these accessories before you file a claim.
To arrive at the accurate value, you can browse through several biking websites, bike company websites, etc. You can also ask motorbike accessory dealers and motorbike experts for inputs about values. You should remember to take the depreciation value of these accessories. If you want, you can note down the value of each accessory on a paper to keep track of so many values. However, you need to ensure that these resources are reliable and precise. If not, you may end up valuing them incorrectly and this can hamper your claim process.
Next, you need to add up all the values of these accessories. If you have installed a number of accessories in your bike, you will arrive at a huge value. In that case, you can discuss and negotiate with your insurance company to fix a decent value so that your bike accessories are safely secured. Bike accessories are generally very expensive and hence, it is important that you get good coverage for these parts.
If you have installed good anti-theft devices in your bike, you can ask your insurer for good coverage and your insurer will most likely agree to your amount as the risk involved is low due to the added security given to your bike.
In case you have already received the policy document for your bike insurance, you can compare your accessory value (the one you just calculated) with the accessory coverage mentioned in your existing policy document. If the difference between both the amounts is vast, (if the current accessory coverage is much lesser than the recently calculated value) then you should definitely reach out to your bike insurer and make necessary changes to the accessory coverage.
When looking for a bike insurance plan, the premium amount is something that most customers base their purchase on. Insurance companies issue premium quotes for liability only as well as comprehensive insurance policies. Certain factors play a key role in the calculation of the final quote and insurance premium to be paid. Given below are the 5 major factors affecting two wheeler insurance that insurance companies take into account when calculating a premium quote:
When you select your insurance plan, you would look for the most economical insurance premium. To find a good premium, you must first be aware of the aspects that can determine it. Some of the common aspects include fuel type, manufacturing year, model of bike, location of registration, make of two-wheeler, etc.
You will be required to transfer your bike insurance ownership when you sell your bike to someone else. It is very important to complete this activity. You will need to first inform your insurer and then obtain a no-claims certificate from the company if you have not made any claim.
It is absolutely essential to transfer your bike insurance when you transfer your bike ownership to another person in order to avoid any problems in the future. The process may seem very tedious and unnecessary especially because you are not going to be the owner of the bike anymore. However, it does offer a few benefits that you may have never thought of.
You will need to furnish your current policy number, name of insurer, your name, your address, mobile number, email address, vehicle model, vehicle make, etc. You will have to request a vehicle inspection before you make the transfer.
Transferring bike insurance policy is highly essential as it offers a range of benefits and also helps you avoid unnecessary complications related to external party’s claim settlements which are not associated with you at all.
You can renew or extend your two wheeler insurance policy before your policy expires. You can do this online or by visiting a branch. If you fail to renew your policy within 90 days after it lapses, your no-claims bonus (NCB) will be lost.
The exclusions will depend on your two-wheeler insurer.
When you want to purchase a ebike insurance policy, most insurance companies will not ask you to submit any document. Most two-wheeler insurers believe in having zero documentation or zero paperwork when you make your first purchase. Some insurers may require you to furnish relevant documents only when you renew your policy.
Only when you file an insurance claim, you will have to mandatorily submit certain documents. These documents include:
|Best Two Wheeler Insurance Companies in India:||Top Bike Insurance Plans Offered in India:|
|ICICI Lombard Two Wheeler Insurance||ICICI Lombard Bike Insurance|
|Bajaj Allianz Two Wheeler Insurance||Bajaj Allianz Bike Insurance|
|Reliance General Insurance Two Wheeler Insurance||Reliance General Insurance Bike Insurance|
|HDFC ERGO Two Wheeler Insurance||HDFC ERGO Bike Insurance|
|New India Assurance Two-Wheeler Insurance||New India Assurance Bike Insurance|
|IFFCO Tokio Two Wheeler Insurance||IFFCO Tokio Bike Insurance|
|Bharti AXA Two-Wheeler Insurance||Bharti AXA Bike Insurance|
|SBI Two Wheeler Insurance||SBI Bike Insurance|
|National Insurance Two Wheeler Insurance||National Insurance Bike Insurance|
|Shriram Two-Wheeler Insurance||Shriram Bike Insurance|
Listed below is the process for making a claim:
You can make a two wheeler insurance claim either through online or offline methods. The claim can be cashless claim or a non-cashless (reimbursement) claim.
There are rules that mention that two wheeler insurance claims should be processed effectively within 30 days. There are certain cases when insurers may need to invest more time in additional investigation. In such cases, the insurance company will have to finish everything within 6 months. If the claim is not settled within the 6-month period, then the insurer will be required to pay an interest on the amount due to delay in payment.
When you meet with an accident or when you have a vehicle breakdown, you may have to make a cashless claim. The process is simple.
Under a non-cashless bike insurance claim, you will have to make the payment for your vehicle repairs first. It is the opposite of a cashless claim. It is a reimbursement claim. You will need to file a claim against your own damages as well as third-party damages. Under this type of claim, your insurer will not pay for your damages in the beginning itself. You will need to make the payment from your own pocket. Once the repairs are done, the garage that you have chosen will forward the full bill with the repair expenses to your insurer. Your insurance company will then pay you back to reimburse your expenses.
Under this type of claim, it is not compulsory for you to select an authorised garage that comes under your insurance company's garage network. You can take your vehicle to any garage.
Under two wheeler insurance, claim settlement ratio refers to the percentage of the total number of claims settled and resolved in a certain year to the claims that have been received by an insurer in a year. It can be a year or a different period of time. This ratio plays a very significant role in assessing the performance of an insurance company. Typically, when an insurer's claim settlement ratio is high, the reliability of the company is also high. A customer should always check a company's claim settlement ratio a before selecting a policy. The formula for calculating a company's claim settlement ratio is claims settled in a year divided by the claims that are obtained in a year multiplied by 100.
A claim settlement process is simple and straightforward. Most insurers have a fixed method to resolve a claim filed by a policyholder. In order to have an effective claim settlement process, you will need to ensure that you follow certain steps:
A two wheeler insurance policy covers your vehicle for a variety of damages and losses under the purview of its terms and conditions. However, there are situations when you can make a claim but you should avoid doing so. Let’s have a look at few instances when it’s not advisable to make insurance claims.
For Minor Damages to the Vehicle: Making insurance claims for minor damages may not be a great idea. The insurance company may take considerable time to process your claims and the waiting period for small repairs can be frustrating. Also, you may lose the No Claim Bonus that which insurance companies offer if there is no aim made on the policy in the preceding year.
If the Cost of Repair Is Less Than the No Claim Bonus: No Claim Bonus is a discount that you may avail while renewing your insurance policy if you have not made any claims on the policy in previous years. The NCB ranges from 10% to 50% depending on the number of claim-free years. Thus, if the No Claim Bonus is higher than the cost of repair of your vehicle, it is advisable to not file any claims on the insurance policy.
When a Third-Party Is Proven Liable for the Damage: In case your vehicle incurs losses or damages due to a third party, you may not need to file an insurance claim with your insurer. The person/party who caused the damage to you or your vehicle is liable to compensate you for the losses.
Instances Excluded in the Insurance Policy: There are certain exclusions stated in an insurance policy which may restrict policyholders while making claims. For example, an insurance company is not liable to compensate the policyholder if the vehicle in question meets an accident when the rider is a minor. Thus, it is important to have a clear understanding of the exclusions of the policy before making an insurance claim.
A two wheeler’s value generally depreciates on a yearly basis. This indicates that as your vehicle ages, your vehicle’s actual value will come down. A zero-depreciation cover or nil depreciation cover is an additional cover that will provide you with protection against depreciation of your vehicle. When you file a claim for your bike insurance policy, your bike’s depreciation value will not be deducted from your actual cover.
|Age of the Vehicle||Rate of Depreciation Applicable|
|Less than 6 months||No Depreciation|
|Above 6 months but less than 1 year||5%|
|Above 1 year but less than 2 years||10%|
|Above 2 years but less than 3 years||15%|
|Above 3 years but less than 4 years||25%|
|Above 4 years but less than 5 years||35%|
|Above 5 years but less than 10 year||40%|
|More than 10 years||50%|
In the field of bike insurance, a constructive total loss is a situation in which the repair expenses for a particular vehicle is higher than the present value of the vehicle. When the repair costs are extremely high i.e. 75% or higher, then it is not a total loss, but a constructive total loss. This means that it is not completely sensible to retrieve your vehicle’s condition. In the case of a total loss, the vehicle would have had repair costs of more than 75% as per the vehicle’s IDV.
IDV (Insured Declared Value) is the highest amount that can be claimed under vehicle insurance policy for reimbursing costs that result from an accident or theft.
If you dread the idea of getting your vehicle inspected to buy or renew a motorbike insurance policy, you can avoid it by going for an online purchase. When you renew your policy online, you will not need any physical inspection. The documentation process will also be simple and minimal. On the other hand, if you go for an offline policy renewal process, you will be asked to get your vehicle inspected before the renewal is done. You only need to click a few buttons and your renewal will be done in a few minutes.
When you make an online renewal, you need to note that the policy will be made active only after 3 days after you buy the policy. Therefore, if anything happens to you while riding within these 3 days, then you will not be covered by this policy.
When you do not carry your bike insurance with you while riding, you will be required to pay certain penalty charges. The Central and State Motor Vehicle Rules have made it mandatory for every bike owner to have an insurance policy. This policy will safeguard you against financial liabilities that you owe to a third-party. When a traffic police asks you to show your insurance policy document, you will need to furnish it. In case you do not have it, you may have to face certain penalties.
Some of the penalty charges include:
A two wheeler insurance policy can be of great help in case of damages caused to the motorcycle due to an accident or any other incident covered in the policy. However, if the cost of insurance is what you are concerned about, the following are the ways in which you can save on your two-wheeler insurance premium.
Choose the Right Motorcycle: Analyse your need for a two-wheeler and choose the vehicle that best suits your requirements. Insurance premium for commuter vehicles costs lower than that of high-end sports bikes and premium motorcycles. The place where your vehicle is registered, cubic capacity of the vehicle, and accessories installed in the vehicle also contribute to the cost of insurance.
Choose the Right Motor Insurance Policy: A third-party liability insurance policy costs considerably less than a comprehensive motor insurance policy. However, as it offers a limited coverage, it is always recommended to opt for a comprehensive insurance policy.
Select the Right Add-On Covers: Add-on insurance covers add significant value to the coverage offered by your bike insurance policy. However, you must select only those add-ons which you truly need. Each add-on cover makes your vehicle insurance policy costlier.
Timely Renewal of Insurance Policy: A lot of motor insurance companies offer several types of discounts on the timely renewal of motor insurance policy. Lapse of policy may put you at the risk of riding uninsured and you may end up paying more when you buy a new insurance policy.
No Claim Bonus: No Claim Bonus (NCB) is simply an incentive that motor insurance companies offer to policyholders who practice safe riding and have not made any claims on their insurance policy in the preceding year. You can avail an NCB up to 50% depending on the number of claim-free years. This may reduce the cost of two-wheeler insurance in a significant way.
Choosing a Higher Deductible Value: Every time you make a claim, a certain percentage of the claim has to be borne by you. This contribution is known as compulsory deductible or voluntary contribution. If you choose a higher deductible value at the time of buying the insurance policy, the premium cost will be reduced. However, you may end up spending more from your pocket at the time of claim.
Voluntary Contribution: If a damage or loss is caused to the two-wheeler as a result of any mishap, a certain percentage of the claim has to borne by the policyholder. A policyholder may choose to increase his/her voluntarily contribution in case of any mishap and reduce the premium amount substantially.
Avoid Making Smaller Claims: It is advisable to not make claims on your motor insurance policy for small damages caused to the vehicle. Doing so will restrict you from availing No Claim Bonus which can bring down the cost of insurance significantly.
Buy a Multi-Year Two-Wheeler Insurance Policy: The Insurance Regulatory Authority of India (IRDAI) now allows insurance of motor vehicles for a period of up to three years as against traditional motor insurance policy which is valid for one year. Insurance companies offer several discounts to those who buy a long-term two wheeler insurance policy which can significantly reduce the insurance premium. Also, it will save you from the hassles of yearly policy renewal for a longer period.
Install a Vehicle Anti-Theft Device: Installing an anti-theft device in your vehicle may reduce the risk of theft. Hence, two-wheeler insurance companies offer a certain percentage of discount to bike owners who have anti-theft devices installed in their motorcycles.
Get a Membership of a Motor Riding Group/Organisation: Some insurance companies offer concessions and special discounts to vehicle owners who are members of a riding group or a recognised automobile organisation. The same would help you save on your two-wheeler insurance cost.
Compare Different Policies Online: There are multiple third-party websites where you can compare two-wheeler insurance policies based on the premium, coverage, and other factors. You may also find good deals if you wish to switch to a new insurer for your two-wheeler. After making the comparison, you may choose the insurance policy that best serves your needs.
GST has a pretty extreme impact on the premiums of bike insurance. The new GST for these premiums will be around 18% as per the new GST update. GST has been introduced in order to eliminate double taxation effectively. Bike insurance policyholders will be impacted negatively as the GST on premiums has increased from 15% to 18%. This increase will have an impact on the purchase of new policies and renewal of existing policies.
The Insurance Regulatory and Development Authority of India (IRDAI) raised the premiums for both two wheeler insurance and automobile insurance from April 2017.
|Two wheeler premium||2016||2017|
|Higher than 75CC but not higher than 150CC||Rs.538.00||Rs.619.00|
|Higher than 150CC but not higher than 350CC||Rs.554.00||Rs.693.00|
|Higher than 350CC||Rs.884.00||Rs.796.00|
Premium rates for bike insurance are usually set by checking the prospective policyholder’s details. Some of the details that will be assessed include your age, income, your vehicle make and model, your residential location, how often you use your two-wheeler, your gender, your credit history, your riding history, your riding experience, your marital status, etc.
Having bought a two wheeler insurance policy, two wheeler owners have to ensure they renew the policies regularly to avoid penalties or fines. Most motorcycle insurance policies are renewable annually, meaning vehicle owners have to keep track of policies and renew them before they lapse. You can alsorenew lapsed insurance policy.
Nowadays, multi-year two wheeler insurance policies are also gaining in popularity, with policy tenures of up to 3 years. You can opt for long term motorcycle insurance policy.
In both cases, though, the policy has to be renewed or a fresh policy has to be purchased from another insurer.
The hassle of long queues or spending half the day at the insurance company’s office with a large sheaf of documents is a thing of the past now.
With online transactions becoming the norm nowadays, insurance companies too have streamlined their processes, allowing customers to buy and renew insurance products online.
Most insurance companies offer online renewal of bike wheeler insurance policies, with many also setting reminders so customers do not miss renewal deadlines, which could cause them inconvenience.
Two wheeler insurance renewal online can be done in a few minutes, and is a quick and efficient way to stay insured. Customers have to merely log in to their insurance company’s website and initiate the renewal process.
Customers can opt to change their coverage type as well, depending on their coverage requirements.
Information such as the existing policy number, policy type, vehicle registration number and owner details would have to be provided for verification and authentication purposes.
Once the policy has been selected, the premium can be paid through net banking, debit/credit card.
Once the payment has been realised, an acknowledgement will be sent to the customer within a matter of minutes.
The new policy can also be saved/downloaded or printed, providing the owner a ready reference to the terms, if required.
An additional hard copy will also be mailed to the policyholder by the insurance company.
It is essential for customers who purchase bike insurance to go through the policy document very carefully to understand the extent to which they are covered. Knowing what exactly is covered by your two wheeler insurance policy will not only keep you aware of your coverage, but can also help in saving time and effort which would otherwise be wasted when making claims. Here, we will look at some of the main inclusions and exclusions of a two wheeler insurance policy.
A two-wheeler insurance policy is not just an instrument to avoid fines and penalties on the roads but is an important contingency plan that helps you in unfortunate incidents involving your vehicle. Here are a few tips that will help you choose the best two-wheeler insurance plan.
The most important step in getting the right insurance policy is to purchase the right vehicle. While doing so, it’s important to take into consideration the usability of the vehicle, its maintenance cost, and other associated costs. The insurance cover for sports bikes and premium motorcycles is generally more than that of a commuter vehicle. This is primarily because the spare parts of premium vehicles cost pretty high and the risk associated with riding such vehicles also remain on the higher side.
Based on the bike you own, the usability of the vehicle, and your riding style, you may determine the kind of coverage you need from your bike insurance policy. Some insurers also allow you to customise your policy based on your specific needs.
Once you determine the coverage that you need, you may identify an insurance provider who understands customer needs and offer them industry best products. You may read the yearly reports released by IRDA which includes market share of insurance companies, the claim rate, and other important factors. You may also read online reviews to identify a few insurers that may provide you the best coverage possible. There are multiple third-party portals which you can use to conduct your research.
Once you identify a few insurers, you may compare the available options using any of the reliable insurance portals on the Internet. The comparison can be done based on multiple factors ranging from premium, coverage to add-on insurance covers available, inclusions and exclusions of the policy, amongst other factors.
The IRDAI now allows insurance companies to offer motor insurance policies for a period up to three years. In India, a lot of people tend to forget the date of insurance renewal and a multi-year insurance policy can save them from the hassles of yearly policy renewal. Also, you may avail certain discounts and offers if you opt for a long-term vehicle insurance policy.
Add-on insurance covers certainly enhance the scope of coverage to a great extent. Though it may increase the amount of insurance premium, it will certainly offer you an extended coverage which does not come under the standard policy. However, you should only opt for the add-ons that you really need. Adding unnecessary covers will unreasonably increase the cost of insurance.
In the past decade, the insurance industry has seen a lot of new players offering innovative insurance products. The advent of the Internet has opened up new possibilities that both customers and insurers are benefitting from. Selling the insurance policies online reduces the operating cost of the insurance companies in a significant way. The benefits of reduced operating cost eventually pass down to the customers who get several discounts and offers when they purchase a bike insurance policy online.
Another important factor to keep in mind is to buy the policy only from a reliable source. Every year, thousands of people fall prey to online fraud. There are a lot of fake insurance sellers on the Internet who claim to offer heavy discounts on purchase of insurance policies from them. As a customer, you should avoid believing in unrealistic offers and buy the policy from a trusted source.
If you are renewing your bike insurance policy, you may avail the No Claim Bonus if you have not made any claim on your policy during the preceding year.
Commuting on a daily basis by two-wheelers is the most cost-efficient mode in India. The fuel costs for using a bike are very low compared to other modes of transport. A two-wheeler is also easy to use on Indian roads especially when the traffic situation is pathetic. Hence, you can save a lot of money when you use a bike. When you have a bike, it is very important to have an insurance policy and it is also important to get a good premium. Your premium payment should be lesser than the actual damage expenses. You should make it a point to do proper research before you actually purchase a plan.
A two-wheeler insurance policy can be cancelled at any time upon submitting a request for cancelation to your insurance provider. However, you will be required to show a replacement insurance policy for your vehicle. Other situations when you may cancel your two-wheeler insurance policy is when you sell your vehicle, transfer its possession, or the vehicle is out of use. On cancellation of the policy, the insurance company may charge you a nominal cancellation fee and the initiate a refund for the unutilised premium value of your insurance policy. Though you will be eligible for a refund only if you have made no claims on your insurance policy in the running year.
Here are few reasons why you may cancel your two-wheeler insurance policy:
Purchase A New Vehicle Insurance Policy: Once your old insurance policy is cancelled, you should immediately buy a new insurance policy to enjoy continued coverage while using your vehicle. Driving without an active motor insurance may expose you to a high degree of risk and may also attract penalties and fines.
Two-wheelers make our daily commute more convenient especially when we have to travel through the crowded streets during peak traffic hours. However, the risk element while using two-wheelers also remain quite high. India reports one of the highest rates of road accidents in the world with a majority of them involving two-wheelers. According to the statistics revealed by Save LIFE Foundation, over 10 lakh people in the past decade have lost their lives in road accidents. The possibility of accidents cannot be completely eliminated. A large number of accidents lead to serious injuries to the vehicle driver, passengers, and other commuters on the roads. These accidents can also be fatal.
Though it is important for a two-wheeler rider to adopt safe driving practices, they should also have a contingency plan to minimise the financial and legal losses in case of an unfortunate event involving the vehicle. A motor insurance policy in such instances can be very helpful. The expenses incurred on repair and retrieval of the vehicle can be extremely high and an insurance policy can cover a significant part of the same in case of an accident.
In case of accidents, vehicle owners may also need funds to cover the medical expenses for treatment of injuries. There may also be certain legal and financial liabilities that may arise due to a damage, loss, or death caused to a third party. The liability in such cases can be unlimited. Therefore, the Motor Vehicles Act, 1988 makes it compulsory for each motor vehicle in India to have a minimum of third-party liability insurance policy.
A third-party liability insurance policy provides coverage against loss or damage caused to a third party or their properties. However, the coverage offered by this policy is limited to third-party liability and does not cover own damage. A comprehensive two-wheeler insurance policy, on the other hand, provides a greater scope of protection in a range of instances involving your two-wheeler. Though it is expensive compared to a third-party liability policy, it is certainly worth spending on considering the benefits it offers. Mentioned below are some of the instances covered by a comprehensive motor insurance policy:
In India, all vehicles that meet the prescribed pollution standards are granted the Pollution Under Control (PUC) certificate. A PUC certificate indicates that the smokes emitted by a motor vehicle do not cross the emission limits set by the concerned authority in India. It ensures that the vehicle is safe to operate on the Indian roads and causes minimum harm to the environment. The Motor Vehicles Act lays out a framework that aims to keep vehicle emissions in check and bring down the negative effects of the same on the environment.
It is compulsory for all motor vehicles in India to have a valid Registration Certificate (RC), two-wheeler insurance/vehicle insurance certificate, and a PUC certificate. The person riding a two-wheeler should also carry his/her driving license at all times and must produce it whenever asked by the concerned officer. The pollution levels in many Indian cities have already crossed the danger mark. This is why it is important to maintain minimum levels of emissions and contribute to a sustainable environment.
As per Motor Vehicles Act 1989 (rule 115), the vehicle owner/driver must carry the PUC certificate at all times and should produce the same whenever asked to do so by a Sub-Inspector of Police or Inspector of Motor Vehicles.
Any motor vehicle that uses non-renewable fuel requires a PUC certificate. There are thousands of emission testing centres across India that conduct vehicle emissions test and provide PUC certificates. A PUC certificate for a new two-wheeler is valid for a period of 1 year. After expiry of its validity, it should be renewed every 6 months.
The charges to get PUC test done ranges between Rs.60 and Rs.100. If your vehicle exceeds the prescribed emission standards, the PUC testing in-charge may intimate the same to the concerned RTO.
A Pollution Under Control certificate (PUC) remains valid in the whole of India. It includes the following details:
Riding a two-wheeler or any other motor vehicle in absence of a PUC certificate is a punishable offence in India as per Section 190(2) of the Motor Vehicles Act. The same could attract a penalty of Rs.1,000 for first-time offence and Rs.2,000 for every consecutive offence. The vehicle rider must be able to produce the PUC certificate whenever an authorised officer demands it.
All motor vehicles in India should meet the following emission standards to obtain a PUC certificate:
|Vehicle||Hydrocarbons (in PPM)||Carbon Monoxides (In %)|
|Two/three-wheeler vehicles (2 to 4-stroke engine) manufactured on or before 31 March 2000||9,000 PPM||4.5|
|Two/three-wheeler vehicles (2-stroke) manufactured post 31 March 2000||6,000 PPM||3.5|
|Two/three-wheeler vehicles (4-stroke) manufactured post March 31 2000||4,500 PPM||3.5|
|Four-wheeler vehicles manufactured as per the Pre-Bharat Stage II Norms||1,500 PPM||3|
|Four-wheeler vehicles manufactured as per the Pre-Bharat Stage II, Stage III, or norms prescribed thereafter||750 PPM||0.5|
With improving prospects in the Indian insurance industry, numerous unauthorised insurance companies have started to offer fake insurance policies that hold no substance. Each year, thousands of people fall for this scam only to realise that they have been cheated. Here are a few ways you can avoid such scams and purchase a genuine insurance policy for your motor vehicle.
Identify a Credible Insurer: To begin with, you must research a bit and identify a trusted insurance company. You may go through the annual report released by the Insurance Regulatory Authority of India (IRDAI) and look for insurers based on their claim settlement ratios and other factors.
Don’t Blindly Believe in Offers: A lot of fake companies lure customers by offering them heavy concessions on buying a motor insurance policy. As a vehicle owner, you must not believe in unrealistic offers and claims, and do a thorough research before purchasing the insurance policy.
Get in Touch With the Insurer: You may call up the customer care or visit the nearest branch of the insurance company. Get all your doubts clarified and make sure they are a reliable source to purchase your motor insurance policy from.
Read the Policy Document Carefully: A lot of times, we don’t bother to read the policy document which may have hidden terms and conditions that may come as obstructions while making claims. It is important to read the policy document carefully to avoid future difficulties.
Check NCB, IDV, and Deductibles: While buying a two-wheeler insurance policy, it is important for you to know the extent of coverage your insurer is offering and your share in the claim. You should also read through the policy regarding No Claim Bonus.
Check the Authenticity of the Policy Document: When you buy a bike insurance policy, it is important for you to check if the insurance certificate has all the important elements. It must be signed with an official seal by the insurer and must clearly state the important dates pertaining to the insurance policy.
The probability of a bike getting stolen is always higher than that of a car. The recovery rate for stolen two-wheelers is also quite low as they can be easily dismantled and sold in the black market. While a third-party insurance policy does not offer you coverage against vehicle theft, a comprehensive insurance policy does offer coverage against vehicle theft. The policy compensates for the loss of vehicle to the extent of the IDV of the vehicle. Losing your motorcycle can be a huge loss if you do not have a comprehensive insurance policy.
To file a claim for a stolen two-wheeler, the following steps should be followed:
File the FIR: In case of a theft or accident claim, an FIR must be filed at the nearest police station. A copy of the FIR is a must to file an insurance claim.
Contact the Insurance Company: Once you file an FIR, you may contact your insurer, notify them about the theft of the vehicle, and provide other details such as policy number, vehicle registration number, and more.
Submit Necessary Documents: Once you file an FIR and intimate the insurer about the loss of the vehicle. The following documents are required to be submitted to the insurance company along with the original keys of the vehicle to make the claim:
As the rate of retrieval of stolen two-wheelers is low in India, the insurance company does not delay the claim settlement more than an extent. However, the insurer must obtain a ‘No Trace Certificate’ from the police and submit it to the insurer.
Once all the documents are submitted to the insurer, the claim will be processed and settled within 60 to 90 days.
The following are some of the misconceptions that a lot of people may have about a motor insurance policy:
A lot of people think that a two-wheeler insurance policy covers the vehicle under all circumstances causing loss or damage to the vehicle. The same is not true. The insurance policy document clearly states the coverage offered by the policy and there are certain exceptions which are not covered under the policy. For instance, damage to the vehicle driven by a person under the influence of alcohol or drugs is not covered under the insurance policy.
Many people have a misconception that a bike insurance policy provides for the total claim made by a policyholder. Even in case of a total loss of the vehicle, the insurance company is only liable to reimburse a maximum amount as equivalent to the Insured Declared Value (IDV) of the vehicle. Also, in case of other insurance claims, there is a certain percentage of deductible that the policyholder must pay from his own pocket.
Technically, you are a law abiding citizen if you have a basic third-party two-wheeler insurance policy. Traffic cops cannot impose fines on you if you have the said insurance policy. However, the third-party insurance is only limited to helping you in case a damage or loss is caused to a third party due to your vehicle. It would not offer you any help in case of an accident that results in own damage. This is why it is always recommended to buy a comprehensive insurance policy that offers a greater scope of coverage against a variety of incidents involving your motorcycle or scooter.
A regular motor insurance policy does not cover the losses or damages caused to the vehicle used for a commercial purpose. For a commercial vehicle, a person must get an insurance policy for a passenger carrying vehicle or a goods carrying vehicle.
A regular two-wheeler insurance policy does not automatically cover the co-passenger. To avail the same, a two-wheeler owner should opt for a ‘Pillion Rider Add-On Insurance Cover’.
It’s a wrong notion among many that a vehicle is completely replaced in case it is completely destroyed or is considered to be in a state of ‘Total Loss’ in the insurance terminology. In case of total loss of the vehicle, the insurance company only provides the Insured Declared Value of the vehicle.
A two-wheeler insurance policy should not be looked at as a statutory obligation. While buying or renewing a two-wheeler insurance policy, one must carefully understand the inclusions and exclusions of the policy and the hidden terms and conditions which may come as hindrances while making claims. Here are a few common mistakes that you must avoid while buying a motorcycle insurance policy:
Choosing a Bike Insurance Policy with the Lowest Premium: A cheap insurance policy may not be the best. While it may save you from fines and penalties that need to be paid in the absence of a vehicle insurance policy, it may not serve its true purpose in times of need. You must choose a motor insurance policy that covers you sufficiently in case of any unfortunate incident involving your vehicle.
Overlooking Hidden Terms and Conditions: It is important for a person to carefully go through the terms, and conditions, and exclusions of the policy before making a purchase. A policy may have conditions that may restrict you while making insurance claims.
Improper Selection of Add-On Covers: Add-on insurance covers significantly enhance the coverage offered by a motor insurance policy. However, buying unnecessary add-on covers may increase the cost of insurance and may not serve the purpose.
Buying a Policy Offline: While it is not wrong to buy a motor insurance policy from an insurance broker, there are a few drawbacks of buying a policy offline. A lot of insurance agents tend to push those policies to the customers which offer them a higher profit margin. This may restrict your choices. On the other hand, you may compare different bike insurance policies online based on several factors and buy a policy in a matter of a few minutes with minimum documentation.
Choosing a Smaller Deductible: If you are someone who rarely uses their vehicle or has an alternate mode of transportation, you may choose a higher deductible to reduce the cost of your motor insurance policy. Choosing a smaller deductible may unnecessarily add to the cost of insurance.
Buying an Insurance Policy from an Unreliable Source: While the Internet is a great medium to buy a two-wheeler insurance policy, there are many fake websites that offer huge discounts to lure customers on purchase of motor insurance policies that may rarely serve the purpose. Thus, it is important for a person to identify a reliable and credible source to buy an insurance policy from.
Not Renewing Insurance Policy on Time: Failing to renew a bike insurance policy on time may push you into the risk of riding without any coverage. Buying a new insurance policy after your policy is expired also becomes a costly affair.
Not Availing No Claim Bonus: If you ever switch your motor insurance policy to a new insurer, it is important to get a No Claim Bonus Certificate from your existing insurer. The same would help you avail considerable discount from your insurer.
Failing to Get Motor Insurance Policy Transferred While Buying a Used Two-Wheeler: A lot of people do not know that while buying a second-hand two-wheeler, it is mandatory to get the insurance policy transferred in their names. This could restrict vehicle owners from making any claims on their vehicle insurance policy.
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ANS: The status of a two wheeler insurance policy can be checked through the website of the insurance company or by contacting a branch and providing details such as the policy number, policyholder’s name etc.
ANS: Using an uninsured two wheeler or one whose insurance has lapsed will result in a fine of Rs.1,000.
ANS: A two wheeler insurance policy is valid for 1 year, 2 years or 3 years depending on the tenure of the selected policy.
ANS: Expired bike insurance can be renewed by choosing a bike insurance policy, having the vehicle inspected, filling the form and paying the requisite premium.
ANS: Yes. Anyone can buy a two wheeler insurance online, or from an offline source, for a vehicle that may not necessarily be their own.
ANS: When it comes to modified 2 wheelers, the 2 wheeler insurance only applies to vehicles that have been modified for use by handicapped individuals. In such instances, a discount of 50% is applicable on the own-damage premiums, as offered by many Indian insurers.
ANS: Incidents that resulted in third party property damage, bodily injury to self, bodily injury or death of third party and theft must be reported to the nearest police station and an FIR generated. This document will be crucial in the ensuing claim process.
ANS: If you wish to buy a two wheeler policy online, there is only minimum documentation which you are required to provide. You will be required to provide the details of your previous two wheeler insurance policy, the Registration Certificate details of your vehicle.
ANS: An insurance policy holder, you are entitled to a No Claim Bonus (NCB) only at the time of renewal of your policy, after it has expired following a full 12 month period. In case you have not made any claims on your policy while it was active, you are entitled to a No Claim Bonus, which will be provided to you based on a pre-determined tariff. You can earn a No Claim Bonus on the Own Damage section of your policy which covers all classes of vehicles. NCB is not applicable on Motor Trade Policies which cover road transit risks, road risks, and internal risks. Also, it is not applicable on motor policies which only provide cover against fire or theft related risks.
ANS: Many insurance providers now allow customers to apply and generate a policy online. If you have applied for your policy online, you can easily log on to the insurance provider's website and click on your profile. Here, a soft copy of your insurance policy will be available which will also serve as a valid policy document.
ANS: A policy holder can generally make a Personal Accident Claim only if the policy is in their (policy holder's) name, making the policy holder the registered owner of the vehicle and has a paid driver / unnamed passenger / owner-driver Cover.
ANS: Some of the common factors which canaffect or reduce your two wheeler policy premium are:
ANS: A Cashless Claim does not involve any physical exchange of cash during claim settlement. The insurance company directly pays the garage (if it is under the insurer's garage network) for the charges involved in the repair of the vehicle.
A Non-Cashless / Reimbursement Claim is one where the policy holder has chosen a garage which is not part of the insurer's listed network of garages. Here, the policy holder will be required to make bear the cost of repairs done to the vehicle, which will be later re-imbursed to the policy holder by the insurance provider, on submission of the original receipts or bills.
ANS: Yes, insurance providers usually allow policy holders to obtain additional cover for any accessories which may have been fitted later on. All you need to do is send your insurance provider a written request for the same and also share the details of the accessories which you have gotten fitted. Cover for accessories is likely to add to your existing premium cost.
ANS: In case of an accident where repairs to the vehicle cost more than the present value of the vehicle itself, such an event is termed as a Constructive Total Loss.
ANS: Yes, you will be eligible to make a claim even if your policy has expired, if the damage took place during the policy tenure.
ANS: Nil Depreciation is a special component of motor insurance policies wherein the cover entitles you to a full (100%) replacement on the parts of the vehicle which have undergone depreciation at the time of settlement of the claim. This does not include tyres and tubes. Nil Depreciation cover may be provided by the insurer only on select models of vehicles, with/without an age limit.
ANS: If the damage sustained by your vehicle following an accident is minimal, it is advisable not to make a claim as it will help contribute towards obtaining a No Claim Bonus for a claim-free year. Further down the line, if you haven't made any claim on your insurance policy for a few years, it can reduce your insurance premium by half.
ANS: If you plan to move to another location or change your job, your insurance policy remains more or less unaffected. You will need to provide your insurance provider with the updated details regarding your job, address, contact details, etc. Also, another thing which might change is your insurance premium. Insurance premiums are determined, among other factors, on the basis of the zone of the vehicle. All major metro cities like Mumbai, Pune, Delhi, Hyderabad, Bangalore, Kolkata, Ahmedabad, and Chennai are categorized as Zone A cities. Rest of the cities are categorized under Zone B. So, in case you are moving from a Zone b city to a Zone A city, then your insurance premium is likely to increase.
ANS: Electrical accessories may be defined as any accessories which are powered electronically. Electrical accessories which are not part of the vehicle's standard equipment and have been fitted additionally, can be easily covered by payment of an extra premium.
Non-electrical accessories may include accessories like seat covers, foot rests, etc., which are not factory fitted. These can also be covered on the payment of an extra premium.
ANS: When you have a motorcycle insurance, you can add an endorsement to your car insurance policy. It will have to be filed when a change in the policy is made. This endorsement document will provide you with basic protection when you make any changes and this document will serve as proof. When you modify your policy terms due to certain reasons, you will be required to make an endorsement. You will need to make an endorsement when you make certain changes to your policy details such as agreed value clause, change of vehicle, lease agreement, installation of anti-theft device, when your two-wheeler is laid up in the garage for repairs, change in hire purchase agreements, new discounts from automobile associations, and additional discounts for modified bikes for handicapped or blind people.
ANS: Yes, you can obtain a personal accident cover with your two-wheeler insurance. This will provide you (owner as well as rider) with compensation for injuries caused by an accident or a death caused by an accident. You will be required to pay an additional premium in order to secure this benefit. It also offers compensation for permanent or temporary disability caused by an accident. When you meet with an accident, you may have high hospitalisation bills. With this cover, you can get reliable compensation to cover your daily hospitalisation bills. This cover also offers non-stop roadside assistance along with professional support for filing claims accurately.
ANS: If your motorbike has been stolen or lost, you will first have to get in touch with your insurance company and the police. To file a claim for loss or theft of bike, you should have a third-party cover and fire and theft cover or a comprehensive cover in your policy. You will need to file a First Information Report (FIR) with the police instantly after you realise that your bike has been stolen or lost. You will then need to fill your claim form with relevant details regarding your vehicle policy. Next, you have to submit your documents with your driving licence, registration certificate of your bike, a letter written to the RTO about the theft, and your FIR. Then, the police will provide the final ‘non-traceable’ report. Once, the claim is accepted, you will have to move the RC of the vehicle in favour of the insurer. You will also have to give your keys and provide a letter of subrogation to your insurer. You will then have to give your payment receipt and repair bills to your insurance company. According to the surveyor’s report, a particular amount will be returned to you within a period of 7 working days.
ANS: You can purchase LTTW (long-term two-wheeler insurance) by going to the official website of any insurer that offers such policies. You will have to choose your policy period for 2 or 3 years and then select your coverage type. You will first have to enter relevant personal details in order to compute your premiums according to your policy period and type of coverage. If you have a regular policy, you can switch to a long-term policy while renewing your existing policy. You can then buy it by making a one-time payment.
ANS: The tenure of a bike insurance policy typically ranges from 1 to 3 years. It depends on your insurer and the policy period that you choose for your insurance plan.
ANS: Bike inspection is the physical examination of the condition of your two-wheeler. It is mostly mandatory for buying a policy when you buy through offline methods. When you buy a plan offline, you will be expected by your insurer to go through the vehicle examination process. You will also need to go through a bike inspection process compulsorily when you are renewing your policy. You may also need it when you modify the type of your coverage. It is also needed when you make any modifications to your vehicle or when you make any modifications to your policy details.
ANS: Yes, you can purchase your bike insurance policy online by going to a third-party website or the official website of any two-wheeler insurer. The online purchase process is simple and self-explanatory.
ANS: Yes, you can renew your two-wheeler insurance policy by visiting your insurer’s website or by going to a third-party website. You will have to enter your policy number and your vehicle registration number. You will also have to key in your personal details and then get quotes for your renewal. You can then choose your existing insurer or pick a new insurer according to your preference and convenience.
ANS: If you lose your insurance policy, you should instantly inform your insurance company. You will also have to notify about the loss by visiting the closest police station. You will need to file an FIR and keep a copy of the FIR with you for further procedures. You will have to provide accurate details regarding your policy.
Next, you have to apply for a duplicate bike insurance policy. You will need to specify the reason for this application. You will be required to pay a fee while applying for the duplicate policy. In case you had a joint policy document, then all the policyholders of the policy will need to apply together for the duplicate document.
Next, you will be required to sign an indemnity bond. This bond is made on a non-judicial stamp paper for the duplicate insurance policy. Apart from you, two witnesses can sign this bond (individuals who are not your family members) to enhance the credibility of your bond. This bond will have the policy number and the full name of the policyholder. You may also be asked to furnish a surety bond to prove that you are financially secure.
You may also be recommended to circulate an advertisement in a newspaper which states that you have lost or misplaced your two-wheeler insurance documents. You may also send a copy of this particular advertisement to your insurance company. Once your application is accepted, the insurer will evaluate your case thoroughly and then provide you with a duplicate insurance policy after proper verification. The terms and policy details will be retained as before. You will receive it most likely in a week. On this new bike insurance policy, the word ‘DUPLICATE’ will be mentioned in bold.
ANS: In order to procure age discounts for your bike insurance, you will be required to show your proof of date of birth such as driving license, electoral ID card, or passport. For occupation discounts, you can show documents such as your most recent payslips, your offer letter from your employer, your employment letter, etc.
ANS: You will be required to provide very basic information when you want to apply for two-wheeler insurance. The details will include your name, mobile number, email address, residential address, vehicle model, vehicle make, year of registration, vehicle variant, engine number, and chassis number.
ANS: No, you will have to transfer your two-wheeler insurance policy of your old bike to the new owner. You will have to take a new policy for your new bike. If you have earned a no-claim bonus for your old bike’s policy, you will be allowed to transfer it to your new bike’s new policy. It is essential to transfer your present insurance to the new owner and buy a new one for your new bike.
ANS: The government and road vehicle laws have made insurance compulsory only for death, injury, and property loss of the third party. There is no compulsion for you to buy a comprehensive two-wheeler policy. However, if you do take a comprehensive policy, you will receive extensive protection for you, your vehicle damages, damages caused by fire or theft, and damages caused to third party. You can go for comprehensive coverage if you want to save on your repair costs. Without comprehensive coverage, you may end up paying very high expenses on your vehicle maintenance.
ANS: Yes, you can procure your no-claim bonus on an expired policy within 90 days after your policy lapses. Your no-claim bonus will not be given to you if you do not renew your bike insurance policy within 90 days after it expires.
ANS: Yes, you can change your two-wheeler insurer according to your preference. You can change your insurer while renewing your policy. If you purchase a new bike also, you can cancel your present policy and shift to a new insurer. If you are selling your old bike to someone, you will need to transfer the policy to the new owner and then you can change your insurer for your new bike.
ANS: You can change your motorcycle insurer while renewing your present policy or while renewing an expired policy. You can do this on the official website of a bike insurer or on a third-party website. You will have to first find a quote for your policy. You can do this by selecting the option ‘renew an expired policy from other insurance company’ or ‘renew an existing policy from another insurance company’. You will then have to furnish your vehicle registration number. You will have to provide your personal details such as mobile number, email address, etc. You will then get a quote and then you can decide if you want to go ahead with the policy or not.
ANS: Theft is generally covered under bike insurance when you take comprehensive coverage. You will need to check your coverage details to get a clear idea. In India, there are 2 types of coverage and they include liability only insurance and comprehensive insurance. If you have a liability-only insurance policy, theft will not be covered under your policy. If you have taken a comprehensive insurance policy, you will get coverage for theft as it covers damages or losses caused due to natural calamities as well as man-made calamities. Theft of vehicle or vehicle parts is a man-made calamity.
ANS: If your bike gets stolen, the sum assured will depend on your policy’s insured declared value (IDV). The IDV is the amount that is arrived at after deducting the depreciation from the bike manufacturer’s listed selling price.
ANS: No, the comprehensive policy usually does not cover the pillion rider. It covers only damages caused to you, your vehicle, and your property, damages caused by fire and theft, damages caused to third party. You will have to take an additional cover for getting protection for the pillion rider.
ANS: Yes, if you own a bike, you must get a bike insurance policy. It is compulsory in India as per the law if you want to use your bike on the road. It is also important as it helps you in receiving reliable protection when your bike gets damaged. It will cover your losses and costs when your vehicle suffers damages or when you suffer from bodily injuries due while riding your vehicle. Moreover, it offers coverage for damages caused to third-party. This is the most basic type of coverage and the mandatory type of coverage. Hence, you definitely need to get a bike insurance.
ANS: A voluntary deductible is the surplus part of your two-wheeler insurance claim that will not be covered by your insurer. It is typically a standard amount that will be mentioned in your policy document and you will be required to pay this amount on your own. In two-wheeler insurance, your voluntary deductible will be determined according to your bike’s cubic capacity (CC). You will need to note that if your deductible is high, your premium will be low.
ANS: If your two-wheeler policy has expired, your premiums will be fixed according to your vehicle’s age, your vehicle’s make, your no-claims bonus, etc. If you have let your two-wheeler policy be invalid for a period of more than 90 days, your no-claims bonus will be cancelled. Hence, your new premiums will be high as you will miss the discounts.
ANS: You should evaluate the situation and then decide if you should inform the police. When a damage is caused to another person, another person’s property, an animal, another person’s vehicle, etc. you will need to inform the police instantly. You will have to file an FIR by narrating the incident. If the accident has resulted in a bad road blockage situation, you will have to inform the police. If you do not provide your details to the police on time, you may get into a troublesome situation and this is absolutely not advisable. It is very important to call the police right after an accident for insurance purposes. Whether you are at fault or the other party is at fault, it is always recommended to call the police. It is recommended to get in touch with the nearest police station.
ANS: Under a long-term two-wheeler insurance policy, the types of losses or events that are not covered include the normal exclusions. Some of them are electrical or mechanical breakdowns, nuclear risk, ordinary wear and tear of vehicle, depreciation of vehicle parts, riding under the influence of alcohol or any other drugs, damage caused by mutiny and war, etc.
ANS: Your bike policy’s Insured Declared Value (IDV) is the highest sum assured that is allotted by your insurer in case your vehicle gets stolen, damaged by fire or an accident. It will be fixed according to your bike’s listed selling price which is fixed by bike manufacturer. This selling price will be quoted for your insurance plan when your policy period begins or when you renew your policy. In the IDV, your insurance costs and registration expenses will not be added. If you have added extra accessories in your vehicle that are not factory fitted, your IDV will be computed exclusively for these accessories. It will not be counted in your regular IDV. Your vehicle make, model, variant, and state of registration will determine your IDV. You will have to negotiate with your insurer to obtain a good IDV for your vehicle. It should be close to your bike’s market value so that you receive good compensation for the losses suffered by you. IDV is a major element that helps in fixing your two-wheeler insurance premium. If you have a lower IDV, your premium will be low.
ANS: The law states that you must lodge a complaint and file a claim for your insurance regarding an accident within 48 hours. Though the event took place when your policy was active, you filed your claim only after it lapsed. Hence, it is invalid. You should have lodged your claim right after the accident took place and renewed your policy on time before it lapsed.
ANS: Whenever you take an insurance policy, you should always make sure your name in the policy is the same as the name in the registration certificate of the vehicle. This is mandated by the law. Hence, before you apply for a cover, you must transfer the name of vehicle ownership and registration to your name. You will need to make this change and then continue to pay your premiums. In this plan, if your base policy does not have a personal accident cover, you will be required to take an additional cover from your insurer in order to receive this coverage. Most two-wheeler insurers offer this as an additional cover.
ANS: You will obtain a basic third-party cover whenever you take a long-term bike insurance policy as it is the most basic type of cover. The IRDAI generally increases third-party premiums on an annual basis. With a long-term cover, you can skip these premium hikes successfully.
ANS: When your vehicle gets damaged due to an accident or fire or theft, you may have a constructive total loss or a total loss. If your vehicle repair expenses are higher than 75% of the insured declared value, you will incur a constructive total loss.
ANS: Yes, you will be eligible for premium discounts when you install an anti-theft alarm at a later stage. This discount is applicable only on the damage that is caused to your own vehicle. It is not given on damages caused to the third party. You will typically receive a discount of 2.5% on a premium of up to Rs.500 for your two wheeler insurance. The discount will depend on your insurer.
ANS: You can buy two wheeler insurance online by registering on the official website of any insurance company or by visiting any third-party website that deals in insurance. You will have to select new policy or policy renewal. You will have to furnish details regarding your vehicle features, your personal details while applying.
ANS: You can calculate your two-wheeler insurance premium by using an online premium calculator. You will have to enter your vehicle registration number, name as in vehicle registration, your vehicle make, model, body type, vehicle manufacturer, fuel type, etc.
ANS: You can claim your two-wheeler insurance by first informing your insurer about the damages caused to your vehicle. The reason for the damages can be accident, theft, fire, etc. Next, you will need to send your vehicle for repair. You will have to fill your claim form with full details and give an estimate regarding your expenses. Your insurer will then make arrangements for examination of the vehicle. You will have to present relevant documents for the examination process. Now, you and your insurer will need to negotiate and then agree upon a claim amount. Accordingly, your claim will be settled.
ANS: It is very important to have your bike insurance policy number. In case you do not have it, you can find it by going to the official website of your bike insurer. You will need to enter your vehicle engine number, registered mobile number or chassis number. You may have to enter any 2 criteria to arrive at your policy number. After you click ‘Search’, you will obtain your policy number.
ANS: You can pay your bike wheeler insurance premiums online through multiple modes. You can choose from net banking, debit card, credit card, Standing Instruction (SI), Electronic Clearing Service (ECS), etc. and make your payment.
ANS: Bike insurance is mandated by the law as it is very important to keep you safe and secure when you use your vehicle on the road. It will protect you against losses suffered by the third party involved in an accident. It is compulsory in India for an insurer to cover third-party risk when a damage is caused.
ANS: When shifting between insurers you can preserve your accrued NCB by procuring an NCB retention letter from the first insurance company. This letter entitles you to preserve the NCB for up to 90 days within which you should purchase a new insurance policy for your two-wheeler. You can get the NCB attached to the new insurance policy at the time of purchase. In case you do not get your vehicle insured within 90 days, you may lose out on the NCB benefit that you have accumulated over the years.
ANS: The NCB will be transferred to the new insurance company at the same rate as the previous insurer. The No Claim Bonus will be available as long as you show evidence in the form of an NCB retention letter/renewal notice/a written declaration to that effect.
ANS: The key differences between a one-year two-wheeler insurance policy and a long term policy are as follows:
|Long term policy||One year policy|
|The tenure of the policy can be 2 or 3 years||The policy is valid for a duration of 1 year only|
|In case there is a premium hike after 1 year, there is no impact on the policyholder. Effectively, the premium for this policy remains the same throughout the tenure||Hike in premium is likely to be effective every year based on regulatory changes|
|The NCB is reduced after a claim, but is not reset to zero||Even if there is 1 claim, the NCB is reset to nil|
With the adventure touring scenario gaining rapid popularity in India, Japanese motorcycle giant, Suzuki, had been planning to launch their popular adventure tourer, the V-Storm 650XT, in India. The plan was finally realised recently and the Suzuki V-Storm 650XT has been launched with a price tag of Rs.7.46 lakh (ex-showroom). The adventure tourer is likely to lock horns with the Kawasaki Versys 650 which is a popular catch in India at present.
The V-Storm 650XT carries the design line of the Suzuki V-Storm 1000. Being an adventure tourer, the V-Storm 650XT comes with pannier mounts, a manually adjustable windscreen, and a fuel tank capacity of 20 litres. It sports an informative instrument console with an analogue tacho and 2 digital screens. As the motorcycle is more off-road oriented, it gets 19-inch front wheels and 17-inch rear wheels (aluminium rims and steel wire spokes), long-travel 43mm telescopic forks on the front end, adjustable rear monoshock, knuckle guards, adventure tyres from Bridgestone, and a belly pan. The braking system is taken care of by Tokico in the front and Nissin in the rear end. It also gets a 2-stage traction control and ABS. The 650XT is powered by a 645cc, liquid cooled, four-stroke, V-twin mill that churns out 71 PS of power at 8,800 rpm and 62.3 Nm of peak torque at 6,500 rpm. The kerb weight of the motorcycle is 216 kg and it is expected to follow the CKD route in India along with the Suzuki GSX-S750 and the Suzuki Hayabusa.
Earlier, Kawasaki had launched the first and only mass production motorcycles, the Kawasaki Ninja H2 and the Kawasaki Ninja H2R, which offered supercharged engines. The Intermot 2018 which is currently being held in Cologne, Germany, witnessed the updated 2019 Kawasaki Ninja H2.
The motorcycle doesn’t come with too many changes on the outside. However, the power figures have received a boost of almost 15.5%. A new airbox, air intakes, an ECU remap, and updated spark plugs now help the H2 to deliver a hefty 231 hp. These updates will be implemented in the H2 SX (the sports touring sibling of the Kawasaki Ninja H2) as well. The 2019 updates also include the Brembo Stylema series front brake callipers for improved pad cooling and gentler initial bite. The Kawasaki H2 now shares the TFT colour dash from the SE version of the H2 SX which can be connected through Bluetooth via Kawasaki’s Rideology app. The new H2 now also comes with self-healing Highly Durable Paint that is definitely a great feature considering the mirror-like coating on the H2 which is highly prone to have visible scratches. The paint heals itself under heat and absorbs minor inconsistencies on the paint surface. The 2019 Kawasaki Ninja H2 is priced at Rs.34.50 lakh in India (ex-showroom).
Italian automaker, Ducati, has recently launched the latest and the smallest variant of the Panigale. The youngest member of the Panigale family is called the Ducati 959 Panigale Corse. The motorcycle has been launched in India at a price of Rs.15.20 lakh (ex-showroom).
The Ducati 959 Panigale Corse gets a base which sports the iconic red colour of Ducati which is also their signature colour. However, it comes with a decal which is inspired by the Ducati Desmosedici GP18. Bookings have been initiated in all Ducati dealerships across the country. The Ducati 959 Panigale Corse is powered by a 955 cc, Superquadro, L-Twin engine that can deliver 150 PS of max power at 10,500 rpm and 102 Nm of peak torque at 9,000 rpm. The engine is mated with a 6-speed gearbox. The motorcycle gets a host of electronics including a dual-channel ABS from Bosch, Ducati Quick Shift (DWS), Ducati Traction Control (DTC), Ride-by-Wire (RbW), and Engine Brake Control (EBC). It comes with 3 pre-set riding modes as well- Race, Wet, and Sport. However, the Indian customers who are planning to buy the Ducati 959 Panigale Corse will not be happy to know that the motorcycles sold in India will not have the Ohlins suspension kit, lithium battery, and the Akrapovic exhaust system.
Japanese motorcycle giant, Suzuki Motorcycles, recently unveiled the latest iteration of the Suzuki GSX-R1000 and the Suzuki GSX-R1000R supersport at the Intermot 2018 which is being held in Cologne, Germany. The current generation of the GSX-Rs made their debut in 2016 and now both the motorcycles get some smart upgrades based on the customer feedback received by Suzuki. In addition to the new cosmetic revisions, the upgrades include new hardware onboard. The changes implemented on the litre-class superbike is correspondent to the change of rules in the World Superbike Championship (WSBK).
The 2019 iteration of both the motorcycles will now get an adjustable swingarm pivot which is a major benefit for professional racers, as well as, track day enthusiasts. On the cosmetic end, the colour of the exhaust has been changed. Although the exhaust muffler retains the same bulky size, but the change of colour from silver to matte black has helped reduce the visible bulk. Another major issue, as quoted by most GSX-Rs customers, were the rubber hoses for the braking system. The 2019 GSX-R1000R now comes with steel braided hoses for the brakes. This is expected to reduce the front brake fade and improve the feel of braking. However, the GSX-R1000 will not receive the updated hoses. A bi-directional quickshifter has also been added to both the motorcycles as a standard. The motorcycles also receive updated tyres from Bridgestone. The 2019 Suzuki GSX-R1000 and the Suzuki GSX-R1000R are expected to enter the Indian market in the first half of 2019 and the expected price tag to be carried by them is Rs.19.80 lakh (ex-showroom).
Indian Motorcycles revealed the production versions of the much-awaited FTR 1200 and 1200S at Intermot, the prestigious motorcycle fair in Cologne, Germany. The standard variant is priced at Rs.9.56 lakh and the S variant is priced at Rs.11.04 lakh. Both the variants come with 3 modes of riding - Rain, Sport, and Standard. Standard features are the stability control lean sensitive system, wheelie control, and traction control. The engine is V-twin motor 1203 cc with 112.5 Nm torque, 120PS power, and 6-speed transmission. Both the variants are distinguished from each other with a blacked out theme for the base and a gold finish for the S variant. Common distinctive features include the teardrop-shaped fuel tank, rounded LED headlamps, and exposed frame. These flat-track motorcycles will be on sale in the US in early 2019. The India launch is expected to follow that.
Suzuki sold a total of 63,140 units in September, making for an increase of 24%, as compared to the 50,808 units sold last year. The Access 125 and the Burgman Street 125 were largely responsible for the exponential jump in sales. Other catalysts for the increase were the sales of the Intruder and Gixxer. Suzuki is launching the Intruder’s special edition as well as the new V-Strom 650. The V-Strom will be assembled in India and will compete with the Kawasaki Versys-650.
The Suzuki Katana has been one of the most iconic motorcycles from the house of Japanese giant, Suzuki. The company had thrown hints on the revival of the Katana earlier and turned it into a reality at the Intermot 2018. The Intermot 2018 which is up and running at Cologne, Germany recently witnessed the unveiling of the iconic Suzuki Katana. The 2019 Suzuki Katana pays homage to it ancestor which made its debut back in 1981. Ever since its launch in 1981, the Katana has been one of the most popular sports bikes ever. The new iteration of the Katana shares its underpinnings with the Suzuki GSX-S 1000, the naked street monster. The production model of the Katana borrows a lot of cosmetic elements from its concept model which was showcased last year.
The 2019 Katana will share the same 999 cc-engine which is found on the Suzuki GSX-S 1000R. It is a liquid-cooled, inline-four engine which is capable of delivering 150 horses at 10,000 rpm and a peak torque of 108 Nm at 9,500 rpm. The engine is mated with a 6-speed gearbox along with a slipper clutch. However, the motorcycle was anticipated to be powered by a 700 cc turbocharged engine. Other features on the Katana include a 3-stage traction control which can be turned off. The 2019 Suzuki Katana will go on sale in Europe by early 2019 and is expected to be launched in India by the end of 2019.
Italian motorcycle giant, Ducati, has revealed the latest range of the 2019 Ducati Scrambler at the Intermot 2018 which is being held at Cologne, Germany. The 2019 Ducati Scrambler range consists of 4 different motorcycles from the Scrambler shed. They are Scrambler Full Throttle, Scrambler Desert Sled, Scrambler Cafe Racer, and Scrambler Sixty2. They join the Scrambler Icon with a number of upgrades both in terms of equipment and features.
The new range of Scramblers receives muscular side panels that are made of thicker gauge aluminium and black-painted engine. They also get brushed cylinder head fins. All 4 versions get an updated headlamp with DRLs, a new instrument console which is fully digital along with fuel gauge and gear position indicator. The 2019 Ducati Scrambler range comes with cornering ABS as a standard. They also get a hydraulic clutch control with adjustable levers. All the motorcycles will also get the Ducati Multimedia system. The Full Throttle, Desert Sled, and the Cafe Racer are also seen sporting new skins. Although there a bunch of other cosmetic changes, the Scramblers will be powered by the same engine. A 803 cc, L-Twin, air-cooled engine that juices out 73 brake horsepower at 8,250 rpm and 67 Newton-metres of peak torque at 5,750 rpm. The engine is mated with a 6-speed transmission system. The new 2019 range of Scramblers is likely to be launched in India sometime next year.
BMW Motorrad will be launching the new R 1250 GS that will be replacing the R 1200 GS offered by the same company. The R 1200 GS was one of the bestsellers for the company on a global scale. The bike was launched in 2004 and had an update in 2013.
The 2019 BMW R 1250 GS will have a 1,245 cc boxer motor instead of the 1,170 cc engine that was seen in the outgoing model. The engine will generate 136 hp of peak power at 7,750 rpm and reach maximum torque of 143 Nm at 6,250 rpm. The Variable Valve Timing technology is another noteworthy addition to the bike. This technology is expected to deliver better fuel efficiency and increase the refinement. Other significant changes to the bike include a new camshaft drive with a toothed chain, twin-jet injection valves, better oil supply, and a revamped exhaust system.
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