A bike insurance plan offers protection against liabilities that arise from injuries to the rider and the pillion as well as third parties, depending on the kind of policy you purchase. In order to purchase the cheapest two-wheeler insurance policy with adequate coverage, it is essential to compare plans between insurers. This facility is available online and can be done right here on the BankBazaar website!
| Bike insurance price list | Best two wheeler insurance | Types of Bike Insurance | Bike Insurance Benefits | Insurance Add-on Covers | two wheeler insurance renewal |
Insurance companies offer several incentives to prospective customers in the form oflong-term bike insurance policies, No Claim Bonus (NCB) benefits, etc. Mentioned below is a representative list of some of the best two-wheeler insurance policies currently available for the period 2017-18.
| Two wheeler Insurance provider | Incurred Claim Ratio | Personal Accident Coverage | No Claim Bonus |
|---|---|---|---|
| Bajaj Allianz Two Wheeler Insurance | 62.20% | Coverage up to Rs.1 lakh for the owner-driver | No Claim Bonus (NCB) benefits |
| Bharti AXA Two Wheeler Insurance | 81.74% | Available as an add-on cover for owner-driver and the co-passenger | NCB of up to 50% and Up to 2.5% discount for installation of security devices |
| Reliance Two Wheeler Insurance | 81.47% | Available as add-on coverage | NCB benefits |
| Liberty Two Wheeler Insurance | 69.62% | Available for the owner-driver | Discounts at renewal and NCB benefits |
| IFFCO Tokio Two Wheeler Insurance | 79.19% | Available | NCB benefits (as high as 50%) |
| ICICI LOMBARD Two Wheeler Insurance | 77.44% | Available | NCB benefits (as high as 50%) |
| Universal Sompo Two Wheeler Insurance | 80.66% | Provides compulsory personal accident coverage for owner driver | No Claim Bonus (NCB) is offered for claim-free experience |
| United India Two Wheeler Insurance | 91.72% | Available for the owner-driver. It can be extended to passengers | NCB ranges between 20% and 50% based on the number of claim-free years. |
| Oriental Two Wheeler Insurance | 68.19% | Available for the owner-driver | For claim-free years, NCB is offered on the premium of the new policy |
| New India Assurance Two Wheeler Insurance | 86.95% | Available for up to Rs.1 lakh for the owner-driver | No Claim Discount is offered at the time of policy renewal and this ranges from 20% to 50% |
| National Insurance Two Wheeler Insurance | 79.68% | Available for owner-driver. It can be extended to passengers | No Claim Bonus is offered for claim-free years |
| Magma HDI Two Wheeler Insurance | 81.71% | Cover of up to Rs.1 lakh is available. It can be extended to passengers | No Claim Bonus is offered for claim-free years (as high as 50%) |
Riding your bike without a valid two-wheeler insurance plan is considered illegal. Two-wheeler insurance policies are designed to offer financial coverage against unfortunate events and accidents that could damage the insured two-wheeler, or bodily injuries to the rider, the pillion, or pedestrians, or damages to the property of a third party. With a proper bike insurance policy in place:
National Insurance offers comprehensive insurance policies that can cover damage to own vehicles as well as a third-party cover too. The company also offers insurance cover for tenures longer than 5 years if the cover does not exceed the fitness certification of the vehicle in question.
Some of its key features are:
Shriram General Insurance’s two-wheeler insurance will cover your vehicle for accidental damage or loss due to theft. They provide comprehensive cover for damages caused by accidents, riots, terrorist acts, and even natural calamities.
Some of its key features are:
SBI General Insurance offers two-wheeler insurance that covers the mandatory third-party liability. It also offers discounts for insuring the vehicle and renewing it without any breaks. However, the policies will not cover any damage that is caused by normal wear and tear.
Some of their key features are:
United India Two-Wheeler Insurance offers two options, the Package Policy and the Liability Only Policy. The difference between the two is that the first one covers damages to your vehicle and third-parties while the second one only covers liabilities to the third party.
Some of their key features are:
Royal Sundaram offers comprehensive two-wheeler insurance that covers you and your vehicle by providing own damage cover and personal accident cover. They can be reached at 1860 425 0000 in case a claim arises.
Some of their key features are:
HDFC Ergo offers 3 options for two-wheeler insurance, single year comprehensive, long term comprehensive and liability only insurance. All options provide personal accident cover and third-party liability cover as well.
Some of their key features are:
Bharti AXA offers bike comprehensive insurance that covers everything from natural/manmade disasters to accidents and third-party liability. They also offer third party liability cover which offers cover for personal injury and damage caused to property.
Some of their key features are:
Magma HDI provides two-wheeler insurance for both new and used vehicles. The policy covers both, third party liability and loss or damage to your vehicle too. It also offers features like NCB and personal accident cover.
Some of their key features are:
The two-wheeler insurance offered by Reliance General Insurance comes with features like cashless repairs and optional cover to replace helmets. The policy can be renewed/taken for up to 3 years at a time. It even offers 3 EMI payments for vehicles that are under repair, as an add-on cover.
Some of their key features are:
The two-wheeler insurance offered by Universal Sompo come with the option of third-party liability only or a package cover. They cover everything from damage to your vehicle caused by accidents or natural calamities to your liability to third parties and their property.
Some of their key features are:
There are two kinds of 2 wheeler insurance policies, viz. comprehensive plans and liability-only plans.
| Comprehensive Insurance: | Third-Party Liability Insurance/Liability-only insurance: |
|---|---|
| A comprehensive two-wheeler insurance policy, although not mandatory, is highly recommended for all bikes. This insurance plan offers extensive coverage to the bike and its owner. It also protects policyholder from legal liabilities to third parties in an accident. | A third party liability insurance plan provides coverage against losses or damages caused by the insured two wheeler to a third party or his/her property. Two wheeler Owner may also receive coverage in the form of a personal accident cover, but no coverage will be provided for the theft or any damages. |
It is mandatory as per law to have an insurance policy that covers third party liabilities at least. This is according to the Motor Vehicles Act, 1988. Third party insurance offers this coverage. This third party insurance is most common in motor insurance policies. Any third party involved in the accident will be provided coverage under this policy. IRDAI will be evaluating the damages before deciding if the claim is valid or not. The following are the coverage of a third party two wheeler insurance plan
*Personal Accident Cover is provided in the third-party liability insurance plans offered by some insurers. Refer to the policy document to know more details.
| Loss or damage incurred due to natural and man-made calamities | ❌ |
| Any damage or loss due to theft | ❌ |
| Personal Accident Cover | ❌ |
| Any loss or damage to property owned by a third party | ✅ |
| Any loss or injury to a third-party involved in the accident | ✅ |
Apart from the legal aspects, third party insurance can be very useful in case a third party or a third party property is involved in the incident. The victim in the accident can register a case to claim compensation. This is where third party insurance comes into play. This will cover all liabilities that will arise due to death or damage to third party or third party property.
A third party insurance will cover any damages or injuries incurred by a third party or third party vehicle at the time of an accident. Any damage to property belonging to a third party will also be covered under this policy. This policy will not cover any damages incurred by the vehicle of the policyholder. You will have to purchase a comprehensive motor insurance policy if you wish to get this coverage. Comprehensive insurance policies offer so much more coverage apart from the mandatory third party coverage.
A comprehensive insurance policy covers damage, loss, or theft of your two-wheeler. Comprehensive insurance policies cover any damages incurred by the owner of the two-wheeler. Opting for a comprehensive insurance policy is not mandatory like the liability only cover. Here are the features of a comprehensive two-wheeler insurance plan.
| Loss or damage incurred due to natural and man-made calamities | ✅ |
| Any damage or loss due to theft | ✅ |
| Personal Accident Cover | ✅ |
| Any loss or damage to property owned by a third party | ✅ |
| Any loss or injury to a third-party involved in the accident | ✅ |
Comprehensive insurance policies will not cover any damages caused due to electrical or mechanical breakdown or the normal wear and tear of the vehicle. Coverage will not be provided if the vehicle is driven without a valid driving license at the time of the incident. Damages incurred while driving under the influence of alcohol or any other intoxicant shall not be covered under a comprehensive two-wheeler insurance policy.
Unlike the liability only insurance, there are several add-ons you can opt for to improve the coverage. Roadside assistance return to invoice, pillion rider, and zero depreciation are some of the popular add-on covers available. Even though a comprehensive insurance policy is more expensive when compared to a liability-only policy, the amount of coverage offered under this plan will help you save a lot of money in case you meet with an untoward incident. Comprehensive insurance policies are the best option to choose as the policy offers extensive coverage when compared to liability only policies.
A comprehensive two wheeler insurance policy is the best type of plan available for bikers. It provides comprehensive protection against damages to your vehicle as well as damages to the vehicle or property of a third party. It also protects the policyholder against the theft or loss of his/her two wheeler. However, the premium for a comprehensive policy is much higher than that of a liability-only policy. It is advisable for all inexperienced riders to opt for a comprehensive insurance policy for their bikes.
The following are the key features of a two-wheeler insurance policy:
You can choose the kind of coverage you require from liability only and comprehensive two-wheeler insurance plans. The Indian Motor Vehicles Act has made it mandatory for all vehicles to be covered by a liability only policy. It provides coverage against wear and tear of your two-wheeler. The following are the factors you should consider when purchasing two-wheeler insurance:
Customers who wished to purchase or renew their bike insurance plan, until recent years, would be given a cover note instead of the policy itself. They would receive the original policy document only after a few days as insurers would mail it to their address at a later date. Thanks to advancements in technology and quicker banking facilities, nowadays, you can get a digitally signed policy from the insurance company as soon as you make the payment.
In case you purchase a new two wheeler, transferring the No Claim Bonus is a process that has been made relatively simple by insurance companies. The bonus is transferred in the name of the owner or the driver of the vehicle, and not the vehicle itself. The No Claim Bonus is given to drivers and vehicle owners because of the safe driving practices followed by them and not making any claims in the previous year(s).
Optional covers include increased cover for accessories and spare parts, personal accident cover to protect pillion riders, zero depreciation cover, etc. You can purchase these covers at a nominal fee and increase the level of protection for your vehicle. These covers come in handy in times of unfortunate or unforeseen events.
Insurance companies that are approved by the Insurance Regulatory and Development Authority of India offer discounts for a few factors like membership of reputable automotive associations, lower premiums for vehicles fitted with approved systems such as anti-theft devices, etc. Even those who have two wheelers and have an unblemished record are eligible for discounts in No Claim Bonus.
Bike insurance plans can be purchased and renewed online with relative ease. Many insurance companies also have mobile apps that make it convenient for customers to purchase or renew their policies. Considering the fact that all details of the policy are stored in the database, the renewal process is relatively simple and happens very quickly.
The following are the main benefits of comparing two wheeler insurance policies:
One of the biggest benefits of comparing two-wheeler insurance policies is that it can help you save a lot of money by helping you purchase the most reasonably-priced policy.
When you compare two-wheeler insurance policies, you expose yourself to various options. Reading the features and benefits of the various options at your disposal can help you find the best policy.
When you compare insurance policies, look for add-on covers as they will enhance the level of coverage offered to you.
Comparing the Insured Declared Value (IDV) offered by an insurance company will help you make an informed decision when purchasing a two-wheeler insurance plan.
Read more about 6 Benefits of Two Wheeler Insurance Renewal
Selecting the right two-wheeler insurance policy can be a tedious task as it involves a lot of research and comparison. There are various insurance companies around the country and picking one that caters to your unique insurance needs can be a tough thing to do. Mentioned below are the elements that you must consider while comparing multiple two-wheeler insurance policies:
Two-wheeler insurance policies come in very handy, especially in times of emergencies. Not only does it offer protection against injuries to people and property but also offers accident cover in addition to insurance against wear and tear. A two-wheeler insurance policy can be purchased from an office of the insurance company, through an agent, or online. Portals such as BankBazaar are great options to compare two-wheeler insurance policies online. Here are a few things that must be checked when comparing two-wheeler insurance plans:
The covers for bike insurance are usually of two kinds - comprehensive cover and liability only covers. While a large number of people go for liability only policies due to the fact that they are mandatory under the Indian Motor Vehicles Act, a comprehensive two-wheeler insurance policy is a better option because it offers cover against wear and tear to your own vehicle, irrespective of whether the damages were caused by natural calamities or due to man-made reasons. When comparing policies, it is crucial to first understand what kind of cover you need.
Insurance companies across the country offer add-on features or optional covers that increase the level of coverage provided by the base policy. These covers could be additional features that take care of wear and tear of the two-wheeler, offer accident cover for co-passengers, etc. Some covers like zero depreciation come in handy as they ensure that you do not incur extra costs on depreciation of parts of the vehicle.
Several insurance companies across India are very customer savvy in the sense that they have designed a number of features and benefits that aid customers in the claims process. For example, all insurers have a 24/7 call centre that makes it easy for customers to get assistance at any time. The call centre facility can help you get the best advice on renewals, claims, NCB transfer, etc.
Considering most insurance companies are customer-oriented, their claims process is relatively simple, and you can file claims with no hassles. The entire claims process includes a few steps like intimating the insurer about the claim, filing a FIR with the nearest police station, transporting the two-wheeler to the garage, furnishing the necessary documents along with the claim form, etc. In many cases, the insurer tends to cover all the costs incurred as a result of an accident, with the owner of the vehicle having to bear certain expenses that are not covered by the insurance policy, such as the taxes and service charges. Considering the complexity of the claims process, you can take help from the insurance company.
Insurance companies have made it relatively easy for customers to renew their motorcycle insurance policies online. In case your policy has expired and you do not wish to renew it as you want to purchase another policy, you can do so easily on the website of the company from which you purchased the plan.
When you compare two-wheeler insurance policies, it is advised that you go for companies that provide concessions and discounts for certain factors like membership of reputed automotive associations, no claim bonus (NCB), inclusion of anti-theft systems, etc. Some companies also offer extra discounts on online renewal, purchase of a policy using a credit card or certain apps, etc.
It is very simple to get a quote for two-wheeler insurance policies. Here is how you can check your bike insurance premium rates online:
Most insurance companies have their own two wheeler insurance premium calculators that make it very simple for you to calculate the premium applicable to your bike. All you need to check your premium online is to ensure that your vehicle is registered with the Regional Transport Office, and your premium will be calculated by the system
Considering the number of two wheeler insurance companies in the country, and the quality of products and services offered by each of them, purchasing the right kind of two wheeler insurance plan can be quite difficult. It is for this reason that portals such as BankBazaar are designed, so that you find it easy to make the right choice. Comparing two wheeler insurance plans on online portals is quite simple. You just have to enter the details regarding the two wheeler, like the make, model, the year in which it was purchased, the location of the RTO, etc. After entering these details, you will have to ask for quotes and the insurance policies made available by the top insurance companies will show up on the screen.
When you purchase a two wheeler insurance policy, you get covered against unforeseen circumstances that could make you incur major expenses. While comprehensive 2 wheeler insurance policies offer basic insurance coverage, going for optional riders or add-on covers will significantly increase the level of protection afforded to you. Most insurance companies offer add-on covers with their bike insurance policies. Each add-on cover has its own benefits, thereby allowing you the luxury of choice to pick only the ones that will suit your unique insurance needs. The following are the optional riders to choose from:
Personal Accident Cover for Pillions: When you supplement your bike insurance policy with a personal accident cover for pillion, your financial liability can be lowered significantly in case of accidents where the pillion rider is injured. This add-on feature provides coverage for the death or permanent or partial disability of the pillion rider.
Roadside assistance: By purchasing the roadside assistance add-on cover, you can avail roadside assistance at any time in case of a mechanical failure or the breakdown of your vehicle. This feature offers facility such as free towing, immediate repairs, etc. and it comes in very handy especially when you are travelling to a remote place where it could be difficult to find help.
Accessories cover: Having this add-on cover will provide coverage for all the accessories of the two wheeler, electrical or non-electrical. In case any of the accessories of the vehicle is damaged, the rider will cover the cost to repair or replace it.
Consumables cover: The consumable cover can be of great help when it comes to receiving compensation for costs incurred on nuts, bolts, engine oil, etc. Since consumables are not covered under basic two wheeler insurance policies, purchasing this optional rider will ensure that you are financially covered for the aforementioned costs.
Zero depreciation cover: Whether you purchase a liability only insurance policy or a comprehensive two-wheeler insurance policy, the whole claim amount will not be settled by either of them. Depreciation is deducted by the insurance company and only the remaining amount is paid out. Supplementing your bike insurance policy with a zero-depreciation cover, however, will eliminate the depreciation factor and you will be eligible for the whole claim amount.
Daily cash allowance: The daily cash allowance add-on cover is ideal for those who commute solely on two wheelers. In case your bike is seriously damaged and is undergoing repairs at a garage, you may have to incur out-of-pocket expenses to travel without it. Adding the daily cash allowance cover to your two wheeler insurance policy will mean that your insurer will give you a certain amount of money per day to meet your travel expenses.
Engine cover: The engine cover can come in very handy if the engine of your two wheeler or the ancillary circuit gets damaged because of flooding or waterlogging. Considering the cost of repairs to engines can extend to several thousands of rupees, the engine cover will cover these expenses and allow you to have total peace of mind.
Return to invoice cover: When you purchase a two wheeler, there is always a risk that it could be stolen. Since the value of every machine depreciates over time, the value of your bike will be relatively lower after a period of, say, six months. However, purchasing the return to invoice cover to supplement your motorcycle insurance policy will mean that you will be reimbursed the actual value of the vehicle in case it is stolen or suffers total loss due to natural calamities or theft.
Since each of the aforementioned riders has its benefits, you can pick as many options as you want to extend the level of protection available to your two wheeler. These riders are available for a nominal fee and come in very handy in times of emergency.
The policy document will cover all the inclusions and exclusions of your motorcycle insurance plan. Generally speaking, the following are the inclusions and exclusions of a two wheeler insurance policy:
The following are the general exclusions of a two wheeler insurance policy:
| Two Wheelers | Premium |
|---|---|
| Not exceeding 75cc | Rs.427 |
| Exceeding 75 cc but not exceeding 150 cc | Rs.720 |
| Exceeding 150 cc but not exceeding 350 cc | Rs.985 |
| Exceeding 350 cc | Rs.2,323 |
The renewal of your 2 wheeler insurance policy can be done with relative ease online. Insurance companies across the country have their own websites where you can login and renew your bike insurance policy. In fact, many insurers have also tied up with mobile payment vendors to make it more convenient for customers to renew their policies. Moreover, the technologically advanced companies have their own mobile applications that make it very simple for bike owners to purchase and renew their policies online. The following are the most common methods to renew your bike insurance policy online:
Since all major insurance companies have their own websites, you can simply log in to them and follow the instructions to renew your bike insurance online. All you have to do is ensure that you enter the correct information regarding your policy as well as your personal details into the system. The old policy must be with you when you are renewing it as it will be easier to refer for details like old policy number. Your net banking details and your debit/credit card must also be kept handy so that information can be entered quicker and your renewal process is smooth and hassle-free. Insurers usually generate digital policies in the PDF format once you pay the premium when renewing your plan. The PDF can be saved on your system but make sure that you take a print out and keep the document with you when you ride.
If you wish to take the old-fashioned route, you can visit a branch of the insurance company to renew your two wheeler insurance policy. While the process of renewing your bike insurance plan at a branch of the insurance company is simple, you will have to take the time out to physically visit the branch. You will have to carry your old policy along with details regarding the vehicle so that you can fill them out in the application form. When you renew your insurance policy at a branch office, the new policy will be handed to you immediately if the premium payment is made by debit card, demand draft, or cash. Paying the premium by cheque will mean that it will take some time to clear so your policy will be sent to your residential address by mail at a later date.
Since many insurance companies have launched their own mobile apps or tied up with mobile payment vendors, renewing your bike insurance policy is as easy as it gets. The applications request certain information such as the registration number of the vehicle, the name of the manufacturer, the make and model of the vehicle, etc. The apps also need details of your policy, such as the name of the insurer, the policy number, etc. By filling in these details and paying the premium, your motorcycle insurance policy can be renewed quickly and without any hassle.
Purchasing the right two wheeler insurance can be somewhat tricky considering the number of options at your disposal. There are also a number of mistakes that people make when purchasing two wheeler insurance. If you are looking to buy bike insurance online, here are a few common mistakes you must avoid:
A lot of people across India tend to purchase second-hand bikes because of how economical it is over the purchase of a new two wheeler. However, they tend to forget to transfer the insurance policy when doing so. In this case, the buyer and the bike will be uninsured and a new policy must be purchased. It is important to remember to transfer the insurance policy of the vehicle from the previous owner of the vehicle to your name. Else, purchase a new policy in order to avoid penalties.
In case you go through an entire policy year without meeting with accidents or making claims, your insurer will reward you for your diligence by way of a No Claim Bonus. What this feature essentially does is lowers your premium for the following year. Most of the insurance companies in India have a certain rate by which they lower your premiums. If you don’t make a claim for one year, the NCB offered to you will be 20%. Being claim-free for two years will offer a discount of 25%, while being claim-free for three years will open up a discount of 35% for the following year. Going four years without making claims will give you a discount of 45%, and five claim-free years will offer you a discount of 50%. The No Claim Bonus for going more than five years without making a claim will depend on the insurance company. In case you meet with a minor accident, see if you can cover the costs yourself as it will help you save more by accumulating your claim-free years.
Since No Claim Bonus can be crucial in helping you save money on premiums, it is important to protect it. It is also crucial to remember to choose the right NCB percentage. Remember the rates offered by your insurer and select it when renewing your policy. Choosing a lower rate will reduce the benefits for which you are eligible, while choosing a higher rate will make it look like an attempt at fraud, thereby making it crucial for you to choose the right NCB rate.
Not all people who own bikes remember to renew their two wheeler insurance policy on time. Riding around with a lapsed policy means you have no valid coverage. So far as the law is concerned, you are already committing an offence by riding with an expired two wheeler insurance policy. What’s worse is that if you meet with an accident and get injured, or if there are damages to your vehicle or third parties, you will have to bear all the expenses out of your own pockets. Make sure you renew your bike insurance policy online before it expires in order to avoid penalties and legal and financial liabilities.
The IDV, or Insured Declared Value of your vehicle, is the highest sum assured that will be provided to you as reimbursement by your insurer in case your vehicle is stolen or suffers total loss. Basically, when you purchase a bike insurance policy online, the IDV will be the prevailing market value of the two wheeler. Insurance companies calculate the IDV of a vehicle by taking into consideration a few factors such as the current value of the manufacturer and depreciation based on the age of the two wheeler. It is important to note that the higher the premium, the higher your IDV and vice versa.
In case your two wheeler has met with an accident or stolen, it is essential to report the same to the insurance company at the earliest. Most insurers have a timeframe of 24 hours to 48 hours from the time of the accident to be informed about it. Make sure you call the company as soon as the accident occurs or notice that your bike has been stolen to have a smooth and hassle-free claim process.
At the time of purchasing bike insurance online, it is crucial to furnish all your personal details correctly as omittance of details can be construed as an attempt at insurance fraud. If you provide incorrect information, the company may not entertain your claims and you will have to cover the expenses out of your own pockets.
When you renew your two wheeler insurance policy, make sure that you enter the right name as per your official records such as the previous policy documents and the RC. A small spelling mistake could turn into a major problem as your policy will be considered invalid.
In case of your untimely demise due to an accident, your family members can only avail the benefits of the policy if they are mentioned as nominees when you had purchased the bike insurance. It is important to name a nominee at the time of purchasing insurance as your family members will benefit in case of an untoward incident.
As mentioned earlier, the failure to mention the right personal details could render your two wheeler insurance policy void. Similarly, the hypothecation details you mention at the time of purchasing a policy could land you in trouble at the time of filing claims. In order to avoid such a problem, make sure that the hypothecation details you enter are accurate.
If you are looking to purchase a new two wheeler insurance policy, or migrate from your current insurer to a new one, there are a few things to consider before making your final choice. The following are a few factors you need to check when selecting a two wheeler insurance company:
Authenticity
First and foremost, look for the authenticity of the company on the website of the Insurance Regulatory and Development Authority of India. All insurance companies have an IRDAI registration number which validates the authenticity of the policy as well as the company.
Rejection ratio
The rejection ratio of an insurance company is basically the ratio of claims rejected by the company to the claims settled. Companies with lower claim settlement ratios are better options as they have fewer issues at the time of settling claims. Checking the rejection ratio of a potential insurer is crucial to ensuring that you have a smooth and hassle-free claims process in the future. A simple Google search will help you find the best insurance company in this regard.
Financial standing
The financial standing of a company is also crucial and must be checked before you pick an insurer. The financial standing of an insurance company will help you determine the capability of the company when it comes to settling claims. You could run an internet search to find the financial standing of a company before choosing it as your insurer.
Premium pricing
Despite the fact that two wheeler insurance is a standard product, different companies charge different premiums. It is essential to compare the premium associated with an insurance policy against the cover it offers. Make sure you don’t choose the plan with the lowest premium because it may not offer adequate coverage. Even if the premiums are high, they are worth it because the policy will come in handy in times of accidents.
After-sales service
Considering the fact that pricing is competitive across the two wheeler insurance sector, you will likely find a good plan for your bike. However, after-sales service is one of the most crucial factors to check when choosing an insurance company. Check if the company you prefer offers post-sales service, and what kind of services you can avail. Many companies provide roadside assistance which can be very beneficial in case your bike breaks down in a remote location. Reading through the reviews written by people who have purchased bike insurance policies from the same company can help you make an informed decision.
Add-on covers
Optional riders or add-on covers go a long way towards enhancing the level of protection offered by your two wheeler insurance policy. It is important to check if the company you prefer has an extensive range of add-on covers to supplement your bike insurance policy. Some companies only have a limited number of add-ons, while others have several different options. Choosing a company which has multiple options can be beneficial in the long run as you can avail added protection for your two wheeler.
Considering the number of new vehicles that are entering Indian streets every day, two wheeler insurance has become more important than ever in the country. Some of the major cities have seen a significant rise in the number of vehicles that are registered, thereby contributing to a rise in the number of two wheeler insurance policies purchased.
New Delhi, the capital of India, is one of the most populous cities in the country. The number of vehicles on the roads of Delhi is quite high, and the city is home to a large number of two wheeler insurance companies that offer bike insurance for scooters as well as motorcycles.
Mumbai, the capital of Maharashtra, is the most populous city in the country. It is also home to a large fleet of vehicles due to the large number of students and employed professionals in the city. The city has a several two wheeler insurance providers, and considering the traffic and risk of accidents in Mumbai, having two wheeler insurance in the city is crucial.
Bangalore is the capital of Karnataka and is home to more than 10 million people. Known as the Silicon Valley of India, Bangalore has attracted millions of people from across India thanks to an influx of jobs in the IT sector. A rise in two wheelers in the city was inevitable with the rise in population as most people want to have their own vehicles to get around. Two wheeler insurance in Bangalore has become necessary due to the number of accidents on the city’s roads.
Previously known as Madras, Chennai is the capital of Tamil Nadu. It is the largest economic, educational and cultural centre of South India. Not only is Chennai home to several million students and working class individuals, it is also one of the most visited cities by overseas tourists. As such, the streets of the city are always crowded and the incidence of road accidents is quite high, making it essential to have two wheeler insurance in Chennai.
Kolkata, or Calcutta as it was previously known, is the capital of West Bengal and is the principal educational, cultural and commercial centre of East India. It is also considered the cultural capital of India and is one of the most populous cities in the east of the country. Given the number of bikes in Kolkata, two wheeler insurance in the city is crucial as it can significantly lower your liability in times of emergencies.
The Insurance Regulatory and Development Authority of India, which is the regulatory body for the insurance industry in India, issues a registration number to insurance companies. This number is called the IRDAI registration number. The number is issued to insurers following mandated and rigorous stipulations set by the IRDAI. If an insurance company does not have the IRDAI registration number, it is probably a fraudulent organisation. The IRDAI registration number essentially serves as a mark of legitimacy and authenticity of an insurance company.
The website of an insurance company will have its IRDAI registration number. It is usually present in the footer of most insurer websites. You can also find this number in the advertisements, brochures, and policy documents of the company. Another place to find the IRDAI registration number of an insurance company is the website of the IRDAI. Here are the IRDAI registration numbers of some of the popular two wheeler insurance providers in the country:
The best insurance companies are those that have the highest incurred claim ratio and provide the best customer service. These two factors along with cashless claim settlement facility are the important factors to look at the time of picking an insurer. Listed below are some of the best insurance companies in the country:
The following are the main benefits of purchasing two wheeler insurance online:
Insurance Information Bureau of India has rolled out data that reveals that around 60% of the vehicles on the roads in India are not insured. The data also shows that most of them are two-wheelers (motorcycles and scooters). The report by the bureau also disclosed that around 52% of two-wheeler owners do not get their vehicles’ insurance renewed after the first year.
Third-party motor insurance is compulsory by law in the country. In spite of this, a lot of two-wheelers are uninsured even now. Insurance Information Bureau data determined the figure of uninsured vehicles on Indian roads are 57%. Of this, over 60% are two-wheelers.
22 December 2020
The Madurai Bench of the Madras High Court ordered the state government to provide counselling on a continuous basis to the husband of the Sattur woman, who was transfused with HIV-infected blood at a hospital in 2018.
The woman informed a bench consisting of Justices N. Kirubakaran and B. Pugalendhi that her husband continued to not meet her and their children.
17 December 2020
The state government of Andhra Pradesh announced that Fastag will be mandatory for large and small vehicles in the state in effect from 1 April 2021. The order was issued by the Ministry of Road and Transportation.
4 December 2020
TVS Motor Company has reported its financial reports recently for the second quarter of FY21. The overall revenue generation for the automaker has been Rs.4,617 crore which shows a hike of 6% when compared to the Rs.4,353 crore mark which was recorded for the second quarter of the previous financial year.
The profit after tax or PAT has come up to Rs.196 crore which is lower by 23% when compared on an YoY basis. Amidst the challenges which the automobile sector has been facing owing to the pandemic conditions in the country, the automaker has been improving consistently since July 2020 and has sold over 2 lakh units in the month of July followed by 2.77 lakh units in the month of August. During this period, the total number of units sold by the Chennai based two wheeler company is 8.34 lakh units as opposed to the 8.42 lakh units which were recorded in the last year during this same period.
19 November 2020
The new Ducati Multistrada 950 S has been launched in the country at Rs 15.49 lakh. The Euro 5, BS6 compliant 937cc engine produces 113hp and 96Nm. The bike features Ducati's signature Multistrada design language which is evident in the sleek LED headlamps, the prominent beak and minimal rear. The 950 S will be sold in the country in only the the traditional 'Ducati Red' option even though the company had introduced a new ‘GP White’ paint job in the international market with deliveries to begin in the second week of November.
17 November 2020
Hero MotoCorp, Bajaj Auto and Ducati posted record sales for the month of October. Hero MotoCorp reported sales and dispatch of 806,848 units of motorcycles and scooters in the month. This was the highest ever sales in any single month for the company. Pune-based Bajaj Auto has reported strong sales in the month of October 2020. It registered total motorcycle sales of 268,631 units. Of this, the sporty nine-model Pulsar family contributed 63 percent of total sales. The numbers are the best-ever monthly sales for Bajaj Auto. Ducati registered record third quarter global sales despite the complex global situation. TVS posts strong growth in the month of October. TVS Motor Company, has reported a total two-wheeler sales of 301,380 units in the month while Suzuki India recorded a 3 percent increase in sales in October. Yamaha India posted that their sales grew by 31 percent during the ongoing festive season.
10 November 2020
The Triumph Trident 660 is aimed at a bigger audience and the automaker plans to make it more accessible worldwide.
With the new 660 cc engine powering the Trident, the British automaker might be making its way into working on a new 660 platform of motorcycles as well. The motorcycle draws its power from a 660 cc, inline three cylinder engine which churns out 81 hp of max power and 64 Nm of peak torque. The British two wheeler giant has also said that the engine is not the one which is found under the hood of the Street Triple S and comes with 67 new components. It gets a 6-speed gearbox with a bi-directional quick shifter. Triumph is aiming to work on a middleweight adventure bike and a adventure sport bike as well. The first offering from the 660 cc platform, the Triumph Trident 660 has been revealed recently and is expected to go on sale in India by 2021.
5 November 2020
English automaker Triumph had teased the Trident prototype back in the month of August this year. The new entry level, naked sport motorcycle will be making its way to the Indian shores in the upcoming year.
The Triumph Trident 660 has been unveiled by the automaker recently and in set to be launched in India through the CKD method next year. The motorcycle draws its power from a 660 cc, inline three-cylinder engine which churns out 81 hp of max power and 64 Nm of peak torque. The British two wheeler giant has also said that the engine is not the one which is found under the hood of the Street Triple S and comes with 67 new components. It gets a 6-speed gearbox with a bi-directional quick shifter. The Indian price of the motorcycle has not been announced yet. However, if it is closer to the UK price, it can be expected to come with a price tag of Rs.7 lakh. Once it is launched in India, it will lock its horns against the likes of the Kawasaki Z650, the Honda CB650, and the Yamaha MT-07.
3 November 2020
The much awaited Aprilia RS 660 super sport motorcycle has been finally launched in the international market. The middle weight full faired bike is powered by a parallel twin engine.
The motorcycle has a sleek and sporty design line which is heavily motivated by the design cues from the elder sibling Aprilia RSV4. Powering the bike is a 659 cc, parallel twin engine which is derived from the V4 engine of the Aprilia RSV4. The engine is compliant to the Euro5 emission norms and can churn out 100 hp of max power at 10,500 rpm and 67 Nm of peak torque at 8,500 rpm. The twin cylinder engine has a 270 degree firing order. It is also packed with a plethora of modern electronics such as the Aprilia Performance Ride Control (APRC), cornering ABS, adjustable wheelie control, traction control, engine braking control, quick shifter, cruise control, and so on.it also features a set of 5 riding modes which include Commute, Individual, Dynamic, Time Attack, and Challenge.
29 October 2020
Japanese auto giant Honda has recently launched the Honda H’ness 350 which is a direct contender in the 350 cc, cruiser motorcycle segment which is currently lead by the Royal Enfield Classic 350. The motorcycle was much anticipated ever since it was teased.
After the launch program, the price tags of the motorcycle have finally been revealed. The Honda H’ness CB350 is available in 2 different trims – the DLX and the DLX Pro. The DLX has been priced at Rs.1.85 lakh, while the DLX Pro has been priced at Rs.1.90 lakh. The motorcycle comes with a host of features which are first in its segment. The DLX Pro comes with some additional features over the standard DLX variant. These include a dual-tone paint scheme, a dual unit horn setup, and the Honda Smartphone Voice Control System. The Honda H’ness CB350 will be lcoking its horns against the Royal Enfield Classic 350, the Benelli Imperiale 400, and the Jawa twins.
20 October 2020
TSuzuki Motorcycle dismissed any plans to enter the two-wheeler commute segment in India. The automobile company announced the launch of Access 125 and Burgman Street Scooters in India priced at Rs.78,600 and Rs.84,600 respectively.
Suzuki has decided that it will extensively focus only on 125cc scooter and 150cc motorbike segment in India and has no plan to introduce anything in the 100cc segment.
15 October 2020
The demand for two-wheelers have suddenly increased as people are rushing to purchase or renew their two-wheeler insurance policies as it is easier to commute using their own vehicles so as to avoid the risk of coming in contact with Coronavirus in crowded public transport during the pandemic.
While the data for number of people looking to buy two-wheelers is not available for public, insurance and two-wheeler industry officials said there was an increase in sales of two-wheelers and insurance for the months of August and September.
Hero MotoCorp Ltd, sold 355,595 two-wheelers during the month of July and 328,068 units in August. Honda Motorcycle and Scooter India (HMSI) sold 201,432 units in July and 223,496 in August.
TVS Motor Co.’s picked up from sales of 124,144 units in July to 139,963 in August. Sales of Bajaj two-wheelers improved from 93,371 units in July to 100,000 units in August.
13 October 2020
British automaker Triumph has just revealed the concept model of the upcoming Trident motorcycle. First showcased in the month of August 2020, the motorcycle is now in its near production form and is facing the final stages of testing.
It gets a brand new stell frame and will be powered by an inline 3 cylinder motor. That said, this is going to be the first motorcycle in its segment which will come with a 3 cylinder engine. All its competitors, such as the Kawasaki Z650 and the Yamaha MT-07 are powered by twin cylinder motors, while the Honda CB650 is powered by an inline-4. The bike is expected to be launched in India by early 2021. The experts are expecting the price tag with which the bike will be marked to be around Rs.6.5 lakh to Rs.7 lakh, ex-showroom.
8 October 2020
Motor insurance sales saw a 15.73% decline between the months of April and August. The main reason for the reduction in sales was the relaxation that was offered by state governments due to the coronavirus outbreak. Crop and health insurance businesses have seen their sales go up by 3.59%. According to the information provided by the IRDAI, motor business premium reduced to Rs.22.253 over the last five months that ended on 31 August 2020. At the same time last year, the premium was at Rs.26,406 crore. Sales are expected to remain low as the lockdown restrictions are still applicable in select cities. In the months between April and August, health insurance premium has seen a 12.97% increase.
6 October 2020
Benelli had to stop selling a number of motorcycles from its lineup after the implementation of the BS VI emission norms. However, now the Italian two wheeler giant which is owned by China has come up with BS VI compliant engines for some of its motorcycles.
Out of these, the Imperiale 400 is the first and the latest addition in the lineup. The rest of the models are likely to be under development right now and can be expected to hit the Indian market soon. The TRK 502 is one of these models which is en route with a new emission norm compliant engine. If it enters the Indian market as a rebadged version of the QJMotor motorcycle, it is likely to feature a host of new features and updates. These include a revamped tank along with a handful of other cosmetic changes. The headlamp cluster will also be a single unit, LED cluster with the possibility of a full-colour LCD instrument console.
29 September 2020
The news in regard to a new Ducati Multistrada launch was broken last year in the month of September. Recently, some spy images of the Ducati Multistrada V4 have surfaced online. The motorcycle is due to be launched in 2021.
The spied motorcycle was spotted in a near-production form. The engine powering the motorcycle will be a V4 engine. However, there are confusions in regard to the engine being a retuned engine from the Ducati Panigale V4. Some sources have reported that it will not be the same engine. In terms of the appearance, the new bike gets a double sided swingarm as opposed to the Mutistrada 1260 which has a single sided one. It also comes with bigger fore wheel. The bike is seen with wire spoked wheels in the recent images. However, there have been leaks of the bike earlier in which it had alloy wheels.
25 September 2020
British automaker Triumph is all set to launch the Rocket 3 GT on 10 September 2020 in India. As the name of the motorcycle suggests, the GT version is a cruiser version of the Rocket 3 which already had rolled out the street-oriented roadster version earlier.
One of the major differences on this machine is the stance. The handlebars are pulled back and the seat height has been lowered. The foot pegs have also been repositioned and have been made more forward set. Powering the Triumph Rocket 3 GT is the same 2,500 cc, liquid cooled engine that churns out 167 hp of max power at 6,000 rpm and 221 Nm of peak torque at 4,000 rpm. The GT version is expected to be slightly more expensive than the Triumph Rocket 3 R. The motorcycle also comes with Brembo M4.32, four-piston calipers, fly screen, heated grips, and adjustable backrest for the pillion.
24 September 2020
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