Two Wheeler Insurance

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Two Wheeler Insurance

Types Of Two Wheeler Insurance Plans We Offer

We offer two types of bike insurance plans, and a bouquet of add-on covers. Choose the right two-wheeler insurance plan and opt for the coverage based on your requirements. 
For New Bike: It is 5 year TP, 1year OD + 5year TP, and 5year OD + 5year TP. 
For Old Bike: 1 year TP, 1 year OD + TP, 2year OD, 2 year OD + 2year TP, and 3 year TP + 3 year OD.

What Is Covered Under Two Wheeler Insurance

  • Natural Disasters

    • Damage sustained due to floods, earthquakes, cyclones, etc.

  • Manmade Disasters

    • Losses caused by fire, terrorism, riot, strike, etc. are included. Don’t worry about the thieves in your neighbourhood as theft too is covered under two wheeler insurance policy. 
  • Accidents on Road

    • Losses/Damages from road accidents..
  • Personal Accident Cover for owner-driver

    • Two wheeler insurance provides coverage to bike’s owner-driver in case of injury or death from a road accident 

  • Third-Party liability

    • Losses/damages to properties or bodily injuries caused to third-party are covered under two wheeler insurance policy if the accident occurs due to your bike/scooter.

What Is Not Covered Under Two Wheeler Insurance

  • Driving under intoxication

    • Damages caused to the bike if you or anyone else was caught driving under the influence of drugs or alcohol at the time of accident is not covered under two wheeler insurance.

  • Regular wear and tear

    • After a period of time, the vehicle is bound to face regular wear and tear as well as losses due to depreciation of vehicle. These aren’t covered under two wheeler insurance policy.

  • Illegal Activity

    • Losses/Damages that occur if found driving underaged/without valid license will not be covered under two wheeler insurance.
  • Commercial Activity

    • Driving your private vehicle for commercial purposes.
  • Other reasons

    • An expired policy, consequential damages, electrical and mechanical failure, staged accidents, and driving outside geographical limits are other reasons for bike insurance claim rejection.

Depreciation Cover

Depreciation refers to loss of value of bike/scooter with time. This bike insurance add-on saves you from paying depreciation on the expenses of repair or replacement of parts such as fibre glass components, rubber, nylon/plastic parts, tyres and tubes, batteries and air bags, wooden parts.

What Are Benefits Of Buying Two Wheeler Insurance Online?

Convenience

If you are pressed for time or want to buy an instant two wheeler policy, the online facility can come to your rescue. As long as you have internet, you can purchase or renew your bike insurance policy from your desktop, laptop or smartphone in a few clicks.

Easy Process

You just have to log onto Bharti AXA website, enter your personal details, select the two wheeler insurance policy you want to buy or renew and make the online payment. The policy will be delivered to your mailbox instantly in PDF format. You can get the bike insurance policy without undergoing any documentation or inspection process.

Various Policy Options

You can easily compare various two wheeler insurance policies in terms of their benefits, features and add-on online. You can make an informed decision about bike/scooter insurance renewal and purchase.

Different Modes Of Payment

You can buy two wheeler insurance online by paying via credit card, debit card, net banking and e-wallets. The secure payment gateways eliminate risks of fraud.

Lower Premiums

Since you are completing entire two wheeler insurance policy purchase/renewal process online, the insurance company saves cost on paperwork and other administrative formalities. The saving on these costs is passed on to the customers in the form of lower premiums. Online bike insurance policies also offer various discounts and offers, which reduce the premium amount further. The two wheeler insurance premium calculators available on the websites of insurance companies can help you to understand how bike insurance premium will change if you customize the policy to your requirements.

Quick Assistance

It is quite possible that you need help understanding bike insurance policy terms or features, or have several queries. You can easily and quickly seek support from the two wheeler insurance company by signing into online chat rooms. Your doubts will be answered within no time.  

Comprehensive Two Wheeler Insurance

This type of two wheeler insurance provides coverage to you and your two-wheeler called own-damage or OD, as well as third-party liability. It provides financial protection against losses caused by accidents, thefts and natural disasters. You should get comprehensive two wheeler insurance policy for a 360-degree cover.

The OD premium would vary depending on your two wheeler’s cubic capacity, make-model, year of manufacture, engine capacity, and geographical location.

Note: Both the third-party liability and comprehensive cover plans also include the compulsory personal accident cover for owner-driver with a premium of particular amount, for which the owner-driver is liable to receive a sum assured amount of Rs. 15 lacs in case of:

TYPE OF INJURY COMPENSATION LEVEL
Death 100%
Loss of two limbs or sight of two eyes or one limb and sight of one eye. 100%
Loss of one limb or sight of one eye 50%
Permanent total disablement from injuries other than named above. 100%

Third-Party Liability Coverage

This type of two wheeler insurance provides coverage for only third-party injuries as well as their damaged property. This is the minimum two wheeler insurance cover that you need to get as per the Indian Motor Vehicle Laws. However, remember that this plan does not cover you against damage to your own scooter/motorbike or any injuries that you may sustain. 

The base premium for third party liability insurance depends on the cubic capacity of the two wheeler’s engine. The Insurance Regulatory & Development Authority of India (IRDAI) revises the rates for base premium every year. As per the recent guideline by Insurance Regulatory and Development Authority of India, insurers are directed to offer five year third party liability for new two wheelers. Hence, the policy for a new two wheeler vehicle will cover the TP premium for 5 Years. 

As of 16th June 2019, the third party insurance premium rates are as mentioned below:

Engine Capacity TP Premium Rate for annual renewal  TP Premium for 5 year policy
Less than 75 cc ₹428 ₹1,045
Above 75 cc but less than 150 cc ₹752 ₹3,285
More than 150 cc but less than 350 cc ₹1,193 ₹5,453
More than 350 cc ₹2,323 ₹13,034


For Electric Two Wheelers

Engine Capacity One Year Policies Long-Term  Policies
Not exceeding 3 KW ₹410 ₹888
Exceeding 3 KW but not exceeding 7 KW ₹639 ₹2,792
Exceeding 7 KW but not exceeding 16 KW ₹1,014 ₹4,635
Exceeding 16 KW ₹1,975 ₹11,079

Note: There is compensation up to Rs1 lakh for third-party property damage for a two wheeler. If there is a case of injuries/death, it will be taken into the court tribunal.

What Is Two Wheeler Insurance

A small misjudgement on the road can lead to a major accident. Two wheeler insurance covers you from the damages to your scooter and motorbike in such a situation. It also covers you against any injuries that you may sustain while riding your bike. The two wheeler insurance policy will also pay for any third-party damages caused by your two-wheeler in an accident. That is not all; your bike insurance will also protect you against financial losses from damage or loss of your two-wheeler because of a theft or a natural disaster. While you may be a cautious rider, lot of situations are out of your hand. You cannot predict when a natural disaster may occur or a manmade disaster catches you unaware.

A road accident can happen at any time leading to not just damage to your bike but also injury to you or by-standers. Your two-wheeler is at risk both on and off road. Your bike insurance policy protects you against all such incidents. Further, the Motor Vehicle Act, 1988, mandates that all scooters/motorbikes on public road get at least third-party two wheeler insurance. By paying a reasonable premium towards your two wheeler insurance policy you ensure the safety of your scooter/motorbike, yourself, and any third-party property and life as well. All you have to do in the hour of need is reach out to your insurer, and be assured that you will find the financial support you need.

Two wheeler Insurance Blogs

Two Wheeler Frequently Asked Questions

Policy's Coverage

You Can Enhance Your Two Wheeler Insurance With Our Depreciation Cover Add-On

What Are Benefits Of Buying Two Wheeler Insurance Online?

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