A Comprehensive Guide To Two Wheeler Insurance
Two-wheeler insurance in India is broadly offered as a mandatory-third party cover under liability-only and a package policy that includes third-party liability and damage to your own vehicle also. This guide will serve as an information repository about all things related to two wheeler insurance in India. Not only is a two-wheeler insurance mandatory as per Indian law, but it will also cover you against various risks like accidents and theft or loss of your two-wheeler. A third-party liability policy for two-wheelers will cover the death, bodily injury and damage to property accidentally caused to third party. A comprehensive two-wheeler insurance policy will offer protection against damage and loss to your own vehicle in addition to third-party cover.
With BankBazaar, you can choose the best plan that suits your insurance needs. Subscribe to BankBazaar.com to know all that you have to about two-wheeler insurance in India to make an informed decision.
Insuring two wheeler vehicle is compulsory by law in India. The Motor Vehicles Act makes it mandatory for all owners to insure their vehicle and ensure timely renewal. This applies to two wheelers as well.
We hear stories of sham insurance claims all the time in the news and they are increasing by the day. In most cases,
Two-wheelers on the road are cursed by four wheeler drivers every day because they always seem to be cutting ahead, riding on the pavements and getting home so much faster than their four-wheeled brothers.
The rainy season might be poetic and beautiful, but it’s sure not a walk in the park for two-wheeler owners. Not only is it much more difficult to ride in the rains, but maintaining their pride and joy that is their bike is no easy task either.
You may like to read: Two Wheeler Insurance
In this day and age when you can buy anything from a forty-rupees-nail polish to a diamond necklace worth lakhs online with just some clicks, buying yourself a new ride should be easier than pie. And it is, but how will you make the right choice?
Motor insurance in India is mandatory by law for all vehicles registered and plying on Indian roads. This rule also applies for two wheelers. Noncompliance can lead to enforcement of legal punishments which includes hefty fines and prosecution under various road safety laws such as provisions under the Motor Vehicle Act.
There is some amount of risk when buying any used vehicle. The only way to reduce this risk is to find out as much as possible about the bike before you narrow down and write that cheque.
There are so many things to consider in the process of choosing a used motorcycle. First of all, what kind of used motorcycle do you want? Where should you look to buy it at? What should you look out for when looking at different bikes?
While buying a used two-wheeler, a buyer has to keep certain things in mind like the condition of the vehicle, authenticity of the seller, etc. One of the most important part is the paperwork involved in the process, which finalizes the purchase.
Buying any used vehicle carries some risks. It is best to consult an expert, but you can inspect a lot of the bike yourself.
For some it’s a passion, for others a convenient way to commute. And for some it’s a deliberate effort to reduce traffic on the roads. Whatever the reason behind your purchase of a two wheeler, it is a huge responsibility to own and use a two wheeler.
Timely renewal of your bike insurance benefits in many ways. In not only ensures continuity in cover, but also gives you a sense of security. Having an active motor insurance is also mandatory by law.
People may not understand the bond you have with your bike. She is your pride and joy. (Not to mention a huge investment.) She is also reliable, always available and well, beautiful! So isn’t it important to make sure it is insured?
For most of us, our two wheeler is a sense of pride and an object of necessity. A two wheeler insurance policy is an absolute necessity if you are looking at protecting your vehicle against third party liability, unexpected damage and theft.
Only you know the value of your bike, the real value. It is your blood and sweat. A thing of pride. The basic third party insurance that the law requires you to buy is just not enough when it comes to your hard earned vehicle.
We sure do love our two wheelers. What’s better than our own set of wheels to navigate in the congested Indian roads? Not only is it affordable for most of us (with a little help from the friendly folks at the bank), but it is also convenient and relatively low maintenance.
Though two wheelers are the smartest mode of transport when it comes to avoiding dense traffic, given the rickety state of Indian roads, two wheelers are more vulnerable to road accidents than other vehicles.
Two wheeler riding gives you a rush like no other. Delicately balanced on two wheels, you need a certain amount of skill, practice and also adhere to safety precautions.
Proper bike maintenance is something you must do anyway. Not only is it instrumental in keeping you (and others) safe on the road, but it can also bump down your monthly petrol bills.
Unlike land and property, a two-wheeler or a car is a depreciating asset meaning its value decreases with time. Any two-wheeler owner knows that normal wear and tear of the vehicle with time is unavoidable.
Mr.Rajan was all set to buy a new two-wheeler - he had done his research, picked the dealer carefully after reading reviews, arranged for funds and had kept all documents ready for the registration.
According to the Indian Motor Act, two wheeler insurance is compulsory in the country legally, as with any other automobile. Bikes and scooters being the most favored transportation means due to convenience, low maintenance and reasonable price has the maximum number of buyers.
The options for bike insurance are almost too large to fathom. If you are looking to find a new insurance or to renew a policy, there are so many options available out there; but it’s not always about trying to get the cheapest premium.
Buying a two-wheeler has become more of a necessity than luxury given the problems with transportation. Having your own motorcycle spells freedom, convenience and availability at all times.
It is a known fact that two wheelers are way more vulnerable to road accidents than other vehicles. To ensure continued protection of your bike/scooter from accidents and other dangers, it is of utmost importance to buy a comprehensive two wheeler insurance policy. Hence, every two wheeler owner in India, for his own safety and as per law,
Precious is the moment when a two wheeler showroom dealer is finalising on the discounted price of the jazzy two wheeler you have chosen! You are looking for as much reduction as possible in the two wheeler’s price tag and you think you have built a rapport with the two wheeler dealer in an attempt to do so.
As the owner of a two wheeler, you will come to realise that your pride and joy is a significant drain on your finances. From regular repairs and maintenance to unforeseen situations like accidents, you will have to shell out a tidy sum of money to keep your bike or scooter in good condition.
Grace period is the additional time allowed by your insurance provider for you to renew the policy and pay premium. Just like grace marks allow you to pass if your grades in a particular subject are
When you buy a new vehicle, it comes with an insurance cover as it is mandatory to have a motor insurance – at least a third-party insurance – in India. This insurance cover is annual in nature, and has to be renewed every year.
Insured Declared Value or IDV is the maximum sum assured provided by the insurer in case of total loss or theft of your two-wheeler. IDV is the vehicle’s current market value and is granted to you in case of total loss or theft of your vehicle.
Having bought your dream bike or scooter, you would want to ensure its safety and keep it in pristine condition. However, amid all the weaving through traffic and squeezing through the tightest of corners,
Two-wheelers have been considered as the best means to commute because they cut through narrow lanes and traffic jams in addition to offering fuel efficiency. Although two-wheelers have the potential to save a good amount of time and money,
Given the congested riding conditions in Indian cities, where traffic moves at a snail’s pace, a two wheeler can is often the most suitable form of commuting. Not only are they easy to maneuver through traffic, but also require far lesser space for parking, making them
When it comes to ease of commuting, a two-wheeler trumps the convenience of a car any given day. Being easy to maneuver and requiring far less parking space, two-wheelers are not only incredibly easy to use but also help cut down
No Claims Bonus (NCB) is a discount you can avail on the premium payment for motor insurance if you make no claim during the period of the insurance policy. This is applicable for both car insurance and two-wheeler insurance, but only in comprehensive policies
As per market research, most two-wheeler drivers never bother to buy an insurance even though two-wheeler insurance is mandatory, and an accident without insurance cover could set their bank balance off by lakhs of rupees.
If you think you do not need a two-wheeler insurance then you should stop using your two-wheeler. However, if you are on the road, a two-wheeler insurance is a necessity. With Indian roads becoming increasingly unsafe over time,
Insuring your Bike is mandatory by law in India. The cover offered by a standard insurance policy is valid for one year from the time of activation. The insured member is required to renew the policy before expiry to ensure continuity
When you buy a new vehicle, it comes with an insurance cover as it is mandatory to have a motor insurance – at least a third-party insurance – in India. This insurance cover is annual in nature, and has to be renewed every year. But, did you know that more than 2/3rd of motor insurance
You are driving your scooter in an inebriated condition. You are not able to focus, your vision is blurred. You do not see a speedbump on the road and drive over it at high speed. You lose control of the vehicle and fall off. Your scooter falls apart in several places and you are severely hurt.
The world of insurance has its own set of jargons which need a good understanding for comprehending the policy document. Knowing the most important terms also means better equipment at the time of buying/renewal or claims.
Two-wheeler insurance is mandatory in India, and you could buy either a third party liability insurance or a comprehensive insurance policy that also covers damage to the your vehicle and yourself. Most policies have to be renewed annually,
Insuring motor vehicle in India is mandatory by law. The Motor Vehicles Act in enacted in various states and union territories dictates further rules in this regard. The statutory obligation of having an active insurance as long as the vehicle is plying on the roads
Comprehensive two-wheeler insurance policies cover most of your expenses, however some add-ons supplement the policy to make it even more beneficial. Some of the basic add-ons on the comprehensive policy are cover for accessories,
Buying two wheeler insurance, besides being required by law, has a whole host of benefits. The biggest of these is providing cover in the event of an accident or untoward incident involving your precious two wheeler. Other advantages would depend on
Buying or renewing your two wheeler insurance policy seems to get more complicated every time. With the number of variables and factors that go into the calculation of a two wheeler insurance premium, it seems like all that Math you learned in high school
It is not an uncommon sight to see indian women riding two wheelers on the road. Gone are the days when the female population of India would shy away from owning a two wheeler and riding confidently on the road. Girls today are
With owning a bike comes the inevitable insurance policy. And when there’s an insurance policy, there’s a renewal date looming somewhere in the distant horizon. And for some of us, try as we might, that renewal date slips by in a flurry of juggling work,
Walking past the showroom, your eye is caught by the stunning bike in the display. You have to have it, and the elation once you bring it home is something you will never forget. Your dream bike is finally yours and
The Indian automotive industry is one of the largest in the world with over 70% of it being dominated by two wheelers of varying capacities. Despite this massive statistic, over 75% of the country’s two wheeler owners are guilty of not owning
In a country like India that charts startling two wheeler accident figures, having vehicle insurance is highly essential to save yourself from bankruptcy. But, as you may already know, bike dealerships offer a standard insurance policy when you buy a two wheeler
Indian roads are among the most notorious in the world as it claims over 1.5 lakh lives each year and most of it is due to people’s lack of traffic sense. The central government previously failed to take the necessary steps however it has decided to crackdown on traffic offenses
Pakodas and chai are great during the monsoons, but if the biker in you needs a little more to make the most of the rainy season, here are five destinations near the city that are certain to sweep you off
Insurance for motorcycles that require a high level of maintenance can often be expensive. The most common error made by individuals is that they first purchase a vehicle and then go around trying to find the best insurance policy to cover
Super bikes are expensive. Not like ‘it’s a bit out of your range’ expensive but more like ‘save up a few years’ salary to buy it’ expensive. Their exorbitant pricing is often justified because these bikes often feature state-of-the-art, trademarked technologies that an average
Motorcycles, mopeds and all kinds of two wheelers are relatively important modes of transport, especially in metropolitan cities where an increasing number of individuals are purchasing two wheelers to avoid traffic jams and blocked roads
As a two-wheeler owner, an individual’s responsibility doesn’t just end with them purchasing the vehicle. Among many other things, they should also shoulder the responsibility to renew their vehicle’s insurance policy once their existing one voids out
A vast majority of motorcycle enthusiasts want their bike to look and sound like the Harley Davidsons, Suzuki Hayabusas, and the Yamaha R1s. To rebuild the bike in their own image, they resort to various forms
If you have a two-wheeler, you must also have an insurance policy to go along with it. But, do you know what your vehicle’s IDV is? In this page, you will learn everything about your vehicle’s IDV and how it affects your insurance
Indian motorcycle industry has come a long way since the dawn of the millennium. While the early 2000s were ruled by two-wheelers like RXs, RDs, and the Samurais targeted at the male populace, things have changed for the better a decade and a half later
Sales in the two-wheeler market has seen a significant spike in the recent past. This is primarily due to the affordability and convenience that this form of transport offers. Almost race-worthy, enhanced models of motorbikes have also entered the market,
It is not uncommon for a two wheeler insurance company to deny claims. There are obligations and stipulations that must be fulfilled by the policyholder so that there are no concerns when filing for claims. Following are the main reasons
Before filing for a two wheeler insurance claim, it is essential to go through the fine print on your policy document to understand what costs are covered and those that are excluded. Many times, policyholders have their claims rejected as they are not covered for
Comprehensive cover is the best thing you can get from your two wheeler insurance policy. Regardless of how inexpensive a third party insurance might be, not only is it a practical option, but also an advisable move to purchase comprehensive insurance policies as they will ensure
So you’ve bought that swanky new bike and are all set to burn rubber with it. Before you rev that engine and embark on that epic road trip of a lifetime comes the most important post-sale decision you have to make- buying
When you are involved in a motorcycle accident, after the initial feeling of anxiety and confusion settles, you will have to focus on the next steps to be taken. In line with this, it is important to stay composed and contact your insurance
Using a two-wheeler to commute on Indian roads has a charm of its own. A two-wheeler is the only vehicle that can help you cut through the peak-hour traffic in ease. Most individuals prefer this mode of transportation for their daily commute
For every two-wheeler owner, a comprehensive insurance policy is absolutely necessary. Having one doesn’t just help him/her claim reimbursements for any repairs but also allows them to resolve any legal obligations brought about
Although we have already borne witness to several iterations of the R1s, CBRs, and the Hayabusas, the concept of racing bikes is still in its infancy in India. A contributing factor to this is that, until recently, a large portion of prospective
The primary objective of a two wheeler insurance is to offer protection against damage to the vehicle and liability to third party. But when you start to consider the various types of auto insurance available in the country today,
If you own a comprehensive two-wheeler insurance and have already made some claims, you’d probably know that it doesn’t always pay the entire expense you have incurred. So how then, as a two-wheeler owner, can you make sure to safeguard
The Indian government has made having third party insurance for two-wheeler owners mandatory. A third party insurance, to begin with, is basically a form of liability insurance purchased by a person to protect themselves against any claims made by a third party.
Purchasing a two wheeler insurance policy may seem like a fairly straightforward endeavour, but customers still make common mistakes that can be so easily avoided. Following are five of the most common errors made when purchasing a two wheeler insurance policy:
Driving condition on the roads of India have become worse than ever before. Traffic in cities has reached astronomical levels of congestion. Driving to anywhere has become stressful and annoyingly time-consuming with traffic moving at snail’s pace at
Every individual who wishes to take his vehicle out on an Indian road must ensure that the vehicle is insured. In most cases, two wheeler insurance is offered to customers who purchase the vehicle at the showroom itself. Once the insurance has expired,
If you have only just bought a two-wheeler, there’s no need for you to worry about buying a two-wheeler insurance policy. This is because the dealership will offer a policy along with the bike, albeit at an additional cost.
Every new object you purchase needs care and attention, and so much more if said object is a vehicle. If you have purchased a two wheeler and absolutely love it, you will want to take good care of it to ensure that it lasts you for a really long time
A comprehensive two-wheeler insurance policy usually has two types of covers bundled together; i.e., own damages cover and third-party liability. Some comprehensive policies also include the personal accident cover as part of the basic plan.
The introduction of the Insurance Repository System by the Insurance Regulatory and Development Authority (IRDA) has facilitated the propagation of paperless transactions in the insurance sector. The completely digital method of policy purchase
In India, the most desired mode of commutation is a two-wheeler. The convenience that it offers in getting ahead of traffic in bumper-to-bumper situations, its ability to zip through narrow lanes, and the savings it provides through
Although a bike is one of the most preferred mode of commute for an average Indian, in terms of safety, it poses may risks to the rider. The convenience that it offers in traversing peak-hour traffic situations is negated by the alarming bike accident
With climate change threatening the very fabric that makes earth what it is, people—who were otherwise oblivious to its ill-effects—are rather keen on adapting to the latest and the best green trends to salvage
The Indian automotive industry is going through a revolution of sorts with more and more companies going the extra mile to come up with ergonomically-sound vehicles. Among the many sub sectors, the motorcycle industry in
India is among the few nations on the planet where every second person has a two wheeler. The two wheeler industry grew by almost 13%, and that figure is on the rise ever since. Following is a list of the best performing two wheeler companies in
If you are looking to transfer the ownership of a bike or scooter, you can draft an application and present it at the office at which the particular two wheeler is registered. To be eligible for a two wheeler ownership transfer,
For many, a two-wheeler is the first vehicle that they would purchase in life; so the sentiments associated with one are beyond comparison. When you zip across the road on your new two-wheeler, you would be invoking senses that are
A two wheeler insurance policy is a lifeline for those who own a bike/scooter as it contains registration and insurance information pertaining to their vehicle. If you happen to lose or misplace your insurance documents, filing a claim becomes next to