There are two types of two-wheeler insurance – comprehensive two-wheeler insurance and third party two wheeler insurance. Having a third-party two-wheeler insurance is mandatory by law. However, a comprehensive two-wheeler insurance is more recommended.
Damage or loss to the insured two-wheeler, financial liability to third-party and accident cover for the owner/rider is covered under a comprehensive two-wheeler insurance policy.
Renewing bike insurance is very easy nowadays. You will be notified way in advance about your policy expiry date. You can simply renew your bike insurance online by visiting the insurer’s website and paying the premium. If you wish to renew it offline- you can visit a branch or call the customer care team.
Paying for bike insurance takes a few minutes. You can pay your premium online via net banking, debit card, credit card or even a mobile wallet.
The premium for two-wheeler insurance may vary for each policyholder. There are a few factors that define the premium amount, like bike model and make, year of manufacture, engine capacity, geographic location, the age of bike owner, anti-theft device installation, and voluntarily deductible.
No Claim Bonus or NCB is given by the insurance company if no claims are made during the policy term.
You can find your bike insurance policy number on the Certificate of Insurance that you receive while buying the policy. You also receive regular correspondence from your insurer via emails, letters which has your bike policy number. If you have lost your bike insurance documents, you can file an FIR and apply for a duplicate bike insurance policy document.
Yes, a new two-wheeler can be registered in your current two-wheeler policy by replacing the old one.
Yes, a two-wheeler insurance policy can be cancelled during the policy term. But, you will have to submit the supporting documents to prove you have bought another two-wheeler insurance policy or your two-wheeler’s registration has been cancelled by the RTO.
Yes, if you buy a two-wheeler insurance online, inspection is not required.