Bike insurance, often known as bike insurance, is a policy you purchase to protect your motorbike or scooter from any damages that may be caused by an accident, theft, or natural catastrophe. 2 wheeler insurance offers defense against third-party lawsuits brought on by
injury to one or more people. Bike insurance is the best way to cover any costs or losses that may result from damage to the motorcycle. All sorts of two-wheeled vehicles, including motorcycles, mopeds, scootys, and scooters, are protected by the bike insurance plan.
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How can I get bike insurance?
A contract between the owner of the bike and the insurance company defines bike insurance as financial protection for the owner of the bike against any loss or damage that may result from a mishap. In India, third-party bike insurance is required by the Motor Vehicle Act of 1988. When you drive a two-wheeler or motorcycle on Indian roads, your bike insurance protects you from any unintentional injury. To avoid paying an Rs. 2,000 fine, you can purchase or renew two-wheeler insurance online for up to 3 years in under 30 seconds.
7 Justifications for Online Bike Insurance Purchase
Prior to purchasing two-wheeler insurance online and taking advantage of some extra perks, you should take into account the following significant facts:
issuance of a prompt two-wheeler policy Due to speedy online policy issuance, you can purchase two-wheeler insurance there.
Expenses Are Not Additional: There are no additional fees that you must pay.
There is no need for details of previous two-wheeler policies. When bike insurance coverage has been inactive for more than 90 days, you do not need to disclose details about it.
You can renew your coverage without having your policy inspected or having any documentation created.
Easy Coverage Renewal: The website makes it simple to renew your expiring policy.
Rapid Claim Resolution: The experts at Policybazaar assist you when you submit a claim for your vehicle.
Online assistance You can always count on our team to be there for you. If you are stopped somewhere at any time, you need not worry about anything.
Indian Bike Insurance Plan Types
Two main categories of two-wheeler insurance coverage are commonly available in India from insurance firms. You can get both Third Party and Comprehensive Bike Insurance.
For more details, see the list below:
Bike Insurance for Third Parties
As the name suggests, third-party bike insurance shields the rider from all duties under the law arising from injuring a third party. The third person in this scenario could be either tangible or intangible. In case you unintentionally cause damage to someone else’s home or vehicle, bicycle insurance for third parties will shield you from any resulting legal responsibilities. Additionally, it protects you from being held responsible for a third party’s unintentional injury or death.
Anyone who owns a two-wheeled vehicle, including a motorcycle or scooter, is required under the Indian Motor Vehicle Act of 1988 to carry third-party bike insurance in order to travel on public highways in the nation.
Those who disregard the rule will be required to pay huge penalties.
Comprehensive Bike Insurance
Comprehensive bike insurance covers the rider’s legal obligations to third parties as well as any personal damage to his own vehicle. It protects your bike from incidences of
Fire, natural disasters, theft, accidents, man-made disasters, and other related hardships. Additionally, it offers you personal accident protection in case you suffer any mishaps while riding your bike.
Top Two-Wheel Insurance Programs
Plans for two-wheelers start at Rs. 2 per day. At Policybazaar, you can purchase and compare two-wheeler insurance coverage for your motorcycle. You may now quickly and affordably renew your expired bike insurance coverage online from leading insurers.
- Rapid Policy Issue
- No inspection, no additional fees
- Guaranteed lowest premiums on the insurance policy
Your two-wheeled vehicle is like a child to you. Every Sunday, you polish and clean it. You drive it around the city at high speeds. Yes, your car plays a crucial role in your daily life. As a result, it’s crucial to maintain your car safe and secure. By getting bike insurance, you can protect your beloved property and maintain tranquility.
Financial protection from physical damage, theft and third-party liability is offered by bike insurance. Bike insurance is your sole safety net on the highways in India due to the bad conditions of the roads and the lack of driving ethics.
Two-Wheel Insurance Benefits
While operating a motorcycle, scooter, or moped, anything might happen. Today’s lifestyle includes unmanaged traffic issues, morning and evening rush hours, and poor road conditions. Furthermore, rain or heat waves may result in slick roads, mushy or muddy patches, or sticky tar, among other issues. These circumstances could harm the two-wheeler and perhaps hurt the passengers. It is essential to get a current two-wheeler insurance policy in order to be protected from all such situations. Millions of bike owners are shielded from costs that could result from third-party damages by the motor vehicle protection regulations in India, which make third-party bike insurance required.
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Important Elements of a Bike Insurance Policy
Since new competitors have entered the market for two-wheeler insurance, significant changes have occurred. Two-wheeler insurers nowadays have developed a variety of services to entice customers and keep them as clients year after year. Today, purchasing motorcycle insurance online is a simple, hassle-free process. Let’s examine some of the salient characteristics of two-wheeler insurance plans:
Comprehensive and Liability-Only Coverage: The rider may select either a comprehensive or liability-only coverage. According to Indian Motor Vehicle Law, each rider must carry a liability-only policy at the very least. On the other hand, a complete two-wheeler insurance policy also offers personal injury.
Personal accident coverage of Rs. 15 lakhs: Mandatory for bike owners, and is included as a standard benefit in their two-wheeler insurance policy.
The coverage was once limited to Rs. 1 lakh, but recently the IRDA expanded it to Rs. 15 lahks and made it mandatory.
Optional Coverage: By offering greater protection, the supplementary coverage, which is available at an additional cost, greatly facilitates the filing of claims.
Simple registration for online purchases: Insurance companies offer online policy purchases or policy renewals through their websites and occasionally even through mobile apps. This makes it simple for the policyholder to fulfill their needs. The process is swift and incredibly convenient for the consumer because every prior policy claim or supplementary detail is already in the database.
No Claim Bonus (NCB) is Simple to Transfer: If you purchase a new two-wheeler, the NCB discount is simple to transfer. The owner, driver, and rider receive the NCB, not the vehicle. The NCB honors a person’s safe driving habits and the fact that they didn’t file any claims the previous year (s).
Discounts: IRDA-approved insurers offer a variety of reductions, such as a reduction for being a member of a reputable automobile association or a reduction for vehicles equipped with authorized anti-theft systems. Owners with a spotless record also get discounts through NCB.
