Bike Insurance
Bike Insurance

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Bike Insurance

Bike insurance, often referred to as two-wheeler insurance in India, is a policy designed to safeguard you from financial losses in the event of damage to your bike due to fire, natural disasters, or theft. Additionally, it provides coverage if your bike causes damage to someone else's property or injures another person, helping to cover the associated costs.

What Is Bike Insurance?

Bike insurance, or two-wheeler insurance, protects you financially from losses due to accidents, theft, or natural disasters. In India, all bike owners must have at least third-party insurance.
There are three main types of bike insurance. Third-party insurance covers damage to other people’s property and injuries caused by your bike, as required by law. Comprehensive insurance provides broader protection, covering your bike, third-party liabilities, and damages from events like natural disasters or theft. Standalone own-damage insurance focuses solely on protecting your bike from damage.
The cost of insurance can vary based on factors like the bike’s model, year of registration, and any extra features you choose. It’s important to think about your specific needs and pick a policy that gives you enough coverage. Buying bike insurance online makes it easy to compare different plans and get instant quotes, along with options for extra protection.

Why Is Bike Insurance Necessary?

Bike insurance, often referred to as two-wheeler insurance in India, is a policy designed to safeguard you from financial losses in the event of damage to your bike due to fire, natural disasters, or theft. Additionally, it provides coverage if your bike causes damage to someone else's property or injures another person, helping to cover the associated costs.

Avoiding Legal Fines

Riding without valid third-party insurance is illegal and can lead to significant fines. Always carry your insurance policy to prevent legal troubles.

Third-Party Liability Protection

Third-party insurance offers financial protection if your bike causes damage to someone else’s property or injures another person. It’s mandatory for riding legally on the road.

Coverage Against Theft

If your bike is stolen or severely damaged, insurance helps cover replacement or repair costs, easing your financial burden during an already stressful time.

Protection from Disasters

Your bike insurance covers damages from natural disasters like floods and storms, as well as man-made events such as vandalism or terrorism, ensuring your vehicle is protected in various situations.

Personal Accident Cover

If you experience an accident while riding your bike, your two-wheeler insurance can provide coverage for any injuries you sustain, whether major or minor. While dealing with an injury can be stressful, the financial protection from personal accident cover helps ease the burden and addresses any unexpected medical expenses you may face.

Types of Bike Insurance

Comprehensive Bike Insurance

Our bike insurance policy is designed to protect you in various ways. It covers third-party liability, meaning you’re protected if you accidentally injure someone or damage their property. It also provides coverage for theft and damage, so if your bike is stolen or harmed by natural disasters or accidents, you’re covered. Additionally, you’ll have personal accident coverage in case you get hurt while riding. However, please note that the policy won’t cover any damages if you ride under the influence of alcohol or if you’re outside the specified areas

Standalone Own Damage Bike Insurance Policy

Our Standalone Own Damage Bike Insurance Policy is here to help if your bike gets damaged in an accident. While it doesn’t cover third-party liabilities, it does provide financial protection against damage from natural disasters, accidents, and fire. Plus, if your bike is stolen, you’ll receive reimbursement for the loss.

Standalone Third-Party Bike Insurance Policy

Third-party Two-Wheeler Insurance is required by law if you want to ride your bike on the road. Our standalone third-party insurance will protect you if your bike causes damage to someone else's vehicle or injures another person in an accident. However, this policy does not cover any damage to your own bike or theft of your bike.

Third -Party VS Own Damage Vs Comprehensive Bike Insurance:

Point of Difference Third-Party Insurance Own-Damage Insurance Comprehensive Insurance
Definition Covers damages caused to third parties in an accident caused by the insured vehicle. Covers damages to the insured vehicle only due to accidents, theft, fire, or natural disasters. Combines third-party liability and own-damage coverage for the insured vehicle.
Coverage Third-party property damage Third-party injury or death Damage to own vehicle from accidents, theft, fire, or natural disasters Third-party property damage Third-party injury or death Damage to own vehicle Theft, fire, vandalism, natural disasters
Legal Requirement Yes, mandatory by law in many countries (e.g., India). Not mandatory, but recommended if you want protection for your own vehicle. Not mandatory, but highly recommended for full coverage.
Cost The most affordable option. Moderate cost, as it covers only the insured vehicle. The most expensive option, due to extensive coverage.
Exclusions Damage to the insured vehicle Injuries to the driver or passengers Third-party damages Personal injuries or death of driver/passengers Damage caused by driving under the influence of alcohol or drugs Damage due to driver negligence (e.g., driving without a license)
Add-ons Generally, no add-ons available. Some policies may offer add-ons like roadside assistance, engine protection, etc. Wide range of add-ons available, including roadside assistance, zero depreciation, engine protection, etc.

Who should buy Bike Insurance Policy?

Every scooter or bike owner must have a minimum of third-party two-wheeler insurance. According to the Motor Vehicles Act of 1988, it’s mandatory for all two-wheeler owners in India to hold bike insurance. If you don’t have a policy, be cautious—failing to comply can result in hefty penalties! Having at least a third-party insurance policy ensures that any losses incurred by another person—such as injuries, property damage, or even fatalities—are covered, preventing you from having to pay out of pocket.

What Is Covered under Two-Wheeler Insurance Policy?

  • Third-Party Death: If an accident involving your two-wheeler results in the death of a third party, compensation will be provided to the affected party or their family as per the policy terms.
  • Road Accidents: Your two-wheeler will be covered for any damages sustained in accidents or collisions, whether you're at fault or not.
  • Natural Calamities: Protection against damages caused by natural disasters like earthquakes, floods, cyclones, or storms, ensuring your bike is covered in such events.
  • Man-Made Disasters: Coverage includes damages caused by man-made incidents such as riots, strikes, terrorism, or vandalism, providing financial protection in the event of such incidents.
  • Damage During Transit: If your bike is damaged while being transported by road, rail, air, or water, the policy covers the cost of repairs or replacement due to transit-related damage.
  • Fire/Explosion: Damages caused by fire, explosion, or self-ignition of your two-wheeler are included in the coverage, ensuring you are protected against such risks.
  • Theft of Your Two-Wheeler: In the event of theft or burglary of your two-wheeler, the policy compensates you based on the current market value of the bike, depending on the terms of the insurance.

What Is Not Covered in Two-Wheeler Insurance Policy?

  • Drunk Driving: Claims will not be accepted if the insured was riding the two-wheeler under the influence of alcohol or any other intoxicating substance.
  • Driving Without a Valid Driver’s License: If the insured was operating the vehicle without a valid driver’s license, the policy will not provide coverage for any claims.
  • Wear and Tear/Depreciation: Normal wear and tear or depreciation of parts (like tires, brakes, battery, etc.) is not covered under the policy.
  • Man-Made Disasters: Coverage includes damages caused by man-made incidents such as riots, strikes, terrorism, or vandalism, providing financial protection in the event of such incidents.
  • Consumables: Consumable items such as engine oil, brake fluid, air filter, nut bolts, and other similar parts are not covered under the insurance policy.
  • Mechanical/Electrical Breakdown: Coverage does not extend to damages arising from mechanical or electrical failures or any breakdown not caused by an accident.
  • Riding Under the Influence of Drugs: If the insured was riding under the influence of drugs, claims related to accidents or damages will be denied.
  • Damage in War/Nuclear Attack: Damages resulting from war, nuclear attack, or similar catastrophic events are excluded from coverage.
  • Damage to Tyres/Tubes Except in Accidents: Tyres and tubes are generally not covered unless they are damaged during an accident.
  • Damage Incurred Outside Covered Geographical Boundaries: The policy will not cover damages if the two-wheeler is involved in an accident outside the geographical limits defined by the policy.

Two-Wheeler Insurance Add-On Covers

Enhance your two-wheeler insurance with these additional coverages for added protection.

Additional Third-Party Property Damage Cover

Enhance your coverage with this add-on for additional third-party liability reimbursement. While comprehensive and third-party two-wheeler insurance cover basic liabilities, this add-on provides extra protection for damage to property in your custody, as long as it results from an accident involving your insured vehicle, up to the specified limit.

Consumables Expenses

With this add-on, we will reimburse you for the costs of replacing or repairing certain bike consumables damaged in an accident. This includes items like screws, nuts, washers, bearings, engine oil, gearbox oil, brake fluid, lubricants, and distilled water, but excludes fuel. The coverage applies to consumables that are damaged due to risks outlined in Section 1 of your policy.

Depreciation Allowance

You’ll be reimbursed for the depreciation deducted on replaced parts.

Emergency Medical Expenses Protect

With this add-on we will cover emergency medical expenses for injuries sustained by you or any other rider while the vehicle is in use.

Return-to-Invoice Cover

If you're the first registered owner and have this add-on, we will cover the costs for total loss, theft, or constructive total loss of your vehicle. We’ll also handle the road tax and RTO registration fees for the insured vehicle.

Pillion Protect

A pillion passenger will receive compensation for injuries or death while using the vehicle.

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