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What Bike Insurance Includes and Excludes?

The best Two-Wheeler Insurance policiesprovide comprehensive coverage against a majority of damages and losses. However, there are a few situations and risks which scooter/bike insurance do not cover. This means that you cannot claim compensation against them. When you buyscooter/bike insurance, you must have complete knowledge about all inclusions and exclusions at length. This way, you are aware beforehand what to expect from your policy

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Inclusions Exclusions

Natural Disasters:

For naturally-occurring circumstances that are not in your hands, bike insurance covers it all. For: e.g. floods, earthquakes, cyclones, etc.

Manmade Disasters:

Losses caused Fire, terrorism, riot, strike, etc. are included. Don’t worry about the thieves in your neighbourhood as theft too is covered.

Accidents on Road:

People tend to jump traffic signals causing increase in road accidents. Though you may be a skilled rider, not everyone on the road is.

Personal Accident Cover for owner-driver:

If the owner-driver of the insured bike sustains injury or death, the insurer provides compensation.

Third-Party liability:

Losses/damages to properties or bodily injuries caused to third-party are covered if the accident occurs due to your bike.

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.

Regular wear and tear:

After a period of time, the vehicle is bound to face regular wear and tear as well as losses to due depreciation of vehicle. They aren’t covered.

Malicious Activity:

Losses/Damages won’t be covered if you’re found riding your bike without a valid license, or if the bike’s driven by an underage person

Commercial Activity:

Driving your private vehicle for commercial purpose and vice versa doesn’t make any sense. Your claim is bound to be rejected.

Other reasons:

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

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Bike rides are a delightful experience. We agree. But the experience only gets safer with a power-packed two-wheeler insurance plan.

For Third Party Insurance

Inclusions Exclusions
Compensation for bodily injury, property damage or permanent disability to third parties due to an accident caused by your scooter/bike. Compensation for your bodily injury, property damages, disability or death.
Compensation to survivors in case of death of third parties due to an accident caused by your scooter/bike. After a period of time, the vehicle is bound to face regular wear and tear as well as losses to due depreciation of the vehicle. They aren't covered.

All You Need to Know About Two Wheeler Insurance in India

What is Two Wheeler Insurance?

Two-Wheeler Insurance refers to an insurance plan to seek cover against losses or damages for a scooter, motorcycle or any other Two-Wheeler vehicle as well as the rider. It also safeguards the rider against third-party liabilities arising due to an accident caused by your scooter/bike.

A Two-Wheeler Insurance policy can provide financial compensation in unforeseen situations or risks such as thefts, accidents or natural calamities. Even if you are a cautious rider, an accident can happen on the road. Your vehicle can get damaged, you can suffer injuries,or the accident can cause losses to other vehicles, their riders or bystanders on the road. Similarly, manmade and natural disasters are out of your control ‐ they can strike anytime, causing scratches, dents or any other damages to your scooter/bike.

Your scooter/bike is exposed to both on-road and off-road dangers. A scooter/bike insurance plan protects against all such incidents. Also, scooter/bike insurance is mandated by The Motor Vehicles Act, 1988 in India. By paying a specified amount of premium every year, you can ensure the safety of your scooter/bike, your life as well as third-party vehicles and lives. If at all you need to seek compensation for the losses or damages, you can file a claim with the insurance company. So, scooter/bike insurance provides you cover as well as peace of mind.
These days, scooter/bike insurance online process has made it very convenient for Two-Wheeler owners to purchase or renew a policy.

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What is Two Wheeler Insurance?

Two-Wheeler Insurance refers to an insurance plan to seek cover against losses or damages for a scooter, motorcycle or any other Two-Wheeler vehicle as well as the rider. It also safeguards the rider against third-party liabilities arising due to an accident caused by your scooter/bike.
A Two-Wheeler Insurance policy can provide financial compensation in unforeseen situations or risks such as thefts, accidents or natural calamities. Even if you are a cautious rider, an accident can happen on the road. Your vehicle can get damaged, you can suffer injuries,or the accident can cause losses to other vehicles, their riders or bystanders on the road. Similarly, manmade and natural disasters are out of your control ‐ they can strike anytime, causing scratches, dents or any other damages to your scooter/bike. Your scooter/bike is exposed to both on-road and off-road dangers. A scooter/bike insurance plan protects against all such incidents. Also, scooter/bike insurance is mandated by The Motor Vehicles Act, 1988 in India. By paying a specified amount of premium every year, you can ensure the safety of your scooter/bike, your life as well as third-party vehicles and lives. If at all you need to seek compensation for the losses or damages, you can file a claim with the insurance company. So, scooter/bike insurance provides you cover as well as peace of mind.
These days, scooter/bike insurance online process has made it very convenient for Two-Wheeler owners to purchase or renew a policy.

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Key Benefits and Features of Two-Wheeler Insurance

Buying a Two-Wheeler Insurance plan can work in your favour for a host of benefits it offers:

Covers Damages

When your scooter/bike meets an accident, is stolen or suffers any other damage due to riots, burglary, fire or natural calamities such as floods, earthquakes or storms, you can incur significant financial losses. A scooter/bike insurance policy can help you recover the cost of these damages.

Protects Your Life

A Two-Wheeler Insurance plan also offers personal accident cover to Owner Driver. In case of death or permanent disability due to the accident, the scooter/bike insurance company provides financial compensation to the policyholder or his survivors, as the case may be.

Protects from Third-Party Claims

Even if you drive safely, your scooter/bike can cause accidents. It may damage third-party vehicles, their riders or co-passengers and even bystanders. Such accidents make you liable to compensate their losses. A Two-Wheeler Insurance plan also includes a third-party cover which indemnifies you from all financial and legal responsibilities arising out of these situations.

Saves Your Money

Any damage or loss caused by your scooter/bike can rip apart your savings. If you have taken a Two-Wheeler Insurance policy, you don't have to pay from your pocket.

Ensures Peace of Mind

The knowledge that you are financially protected against damages or losses due to your vehicle gives you complete peace of mind. Moreover, if at all, the claims arise, you don't have to take the stress of locating garages and getting repairs done. The insurance company's network of garages and claim settlement process makes the situation hassle-free for you.

The key features of the Two-Wheeler Insurance plan are:

  • Two types of coverage: Third-party and comprehensive
  • Optional coverage
  • Online scooter/bike insurance renewal and purchase
  • Instant policy issuance on online Two-Wheeler Insurance
  • No-Claim Bonus (NCB)
  • Discounts to lower premiums, especially on online Two-Wheeler Insurance.
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Covers Damages

When your scooter/bike meets an accident, is stolen or suffers any other damage due to riots, burglary, fire or natural calamities such as floods, earthquakes or storms, you can incur significant financial losses. A scooter/bike insurance policy can help you recover the cost of these damages.

Protects Your Life

A Two-Wheeler Insurance plan also offers personal accident cover to Owner Driver. In case of death or permanent disability due to the accident, the scooter/bike insurance company provides financial compensation to the policyholder or his survivors, as the case may be.

Protects from Third-Party Claims

Even if you drive safely, your scooter/bike can cause accidents. It may damage third-party vehicles, their riders or co-passengers and even bystanders. Such accidents make you liable to compensate their losses. A Two-Wheeler Insurance plan also includes a third-party cover which indemnifies you from all financial and legal responsibilities arising out of these situations.

Saves Your Money

Any damage or loss caused by your scooter/bike can rip apart your savings. If you have taken a Two-Wheeler Insurance policy, you don't have to pay from your pocket.

Ensures Peace of Mind

The knowledge that you are financially protected against damages or losses due to your vehicle gives you complete peace of mind. Moreover, if at all, the claims arise, you don't have to take the stress of locating garages and getting repairs done. The insurance company's network of garages and claim settlement process makes the situation hassle-free for you.

The key features of the Two-Wheeler Insurance plan are:

  • Two types of coverage: Third-party and comprehensive
  • Optional coverage
  • Online scooter/bike insurance renewal and purchase
  • Instant policy issuance on online Two-Wheeler Insurance
  • No-Claim Bonus (NCB)
  • Discounts to lower premiums, especially on online Two-Wheeler Insurance.
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Types of Two-Wheeler Insurance

The coverage you opt for does impact your quotes. Moreover, choosing a suitable coverage helps you to make the most of your financial protection.

Third-Party Liability Coverage

This Two-Wheeler Insurance policy safeguards you only against third party litigations. This is the least mandatory insurance amount that every Two-Wheeler owner in India has to buy. However, do note that it does not offer cover to you or your vehicle. So, if something happens to you or your vehicle, there is zero coverage in this plan.
The base premium for third-party liability insurance depends on the cubic capacity of the Two-Wheeler engine. The Insurance Regulatory & Development Authority of India (IRDA) revises the rates for base premium every year.
As per the recent guideline by Insurance Regulatory and Development Authority of India, insurer 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 for Renewal of existing vehicle (Annual) TP Premium for New Vehicle (5 Years Policy)

Less than 75 cc

Rs. 482

Rs. 1,045

Above 75 cc but less than 150 cc

Rs. 752

Rs. 3,285

More than 150 cc but less than 350 cc

Rs. 1,193

Rs. 5,453

More than 350 cc

Rs. 2,323

Rs. 13,034

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.

 
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Comprehensive Insurance

This type of insurance plans covers damage to vehicles and property, injuries and medical expenses of all parties – self as well as third parties involved in an accident. It offers 360-degree coverage. Hence, it is always advisable to take a comprehensive insurance plan.
Note: Both the third-party liability and comprehensive cover plans also include the compulsory personal accident cover for owner-driver with a premium of Rs. 750 per year, 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
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%
 
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Add-On Covers with Your Two Wheeler Insurance Policy

As the name suggests, add-on covers provide extra coverage to your vehicle beyond the standard policy. Basically, it fortifies your scooter/bike insurance policy further. The add-on covers can be purchased at a little extra premium. However, it is an expense worth incurring. You can also take these add-on covers while purchasing Two-Wheeler Insurance online.

Here is an add-on cover available on scooter/bike insurance:

Zero Depreciation cover

Every vehicle goes through wear and tear, so does your Two-Wheeler vehicle. This is called depreciation. Whenever you seek a claim for incurring expenses of repaired or replaced parts, the insurance provider takes the depreciation into consideration. However, with zero depreciation cover, you can avoid paying depreciation. This add-on can save you depreciation on repair or replacement expenses of scooter/bike parts made of glass, fibre, plastic and rubber.

Benefits of Buying Two-Wheeler Insurance Online

These days, you can buy scooter/bike insurance online at your fingertips from anywhere, anytime. The benefits of buying new or renewing Two-Wheeler Insurance online are:

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

  • Easy Process
  • You just have to log onto the insurance company website, enter your personal details, select the 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 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-ons online. You can make an informed decision about scooter/bike 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 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 customers in the form of lower premiums. Online policies also offer various discounts and offers, which reduce the premium amount further. The online premium calculators available on the websites of insurance companies can help you to understand how premium will change if you customize the policy to your requirements.

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

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Benefits of Buying Two-Wheeler Insurance Online

These days, you can buy scooter/bike insurance online at your fingertips from anywhere, anytime. The benefits of buying new or renewing Two-Wheeler Insurance online are:

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

  • Easy Process
  • You just have to log onto the insurance company website, enter your personal details, select the 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 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-ons online. You can make an informed decision about scooter/bike 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 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 customers in the form of lower premiums. Online policies also offer various discounts and offers, which reduce the premium amount further. The online premium calculators available on the websites of insurance companies can help you to understand how premium will change if you customize the policy to your requirements.

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

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Benefits of Two-Wheeler Insurance Renewal/Purchase Online from Bharti AXA

It is always advisable to purchase or renew scooter/bike insurance only from reputed and financially stable insurance providers. Bharti AXA provides the best Two-Wheeler Insurance in India. No matter what your Two-Wheeler brand, model or make is, you can rest assured that Bharti AXA will meet all your insurance needs. When you buy scooter/bike insurance online from Bharti AXA, you can avail the following benefits:

 

Two-Wheeler Insurance Things to Know

There are certain important points that you must bear in mind while buying a Two-Wheeler Insurance policy:


What is IDV?

The Insured Declared Value (IDV) refers to the maximum sum assured determined by the insurance company. This is the amount that you would get in case your scooter/bike is stolen or damaged. Ideally, IDV should be close to the current market value of your vehicle.


What is Third-Party Insurance?

Third-party insurance provides financial coverage to the rider-owner against any legal liability that arises out of bodily injury, death or permanent disability to a third-party or any damage to their property. This is compulsory and minimum insurance that every Two-Wheeler owner has to purchase as per the Motor Vehicles Act, 1988.


What is No-Claim Bonus (NCB)?

No-Claim Bonus (NCB) is the discount that an insurance company offers to the policyholders if they do notraise a single claim during the policy period. The policyholder can accumulate up to 50% NCB discount on renewal premium for every claim-free year till 5 years.

No. of Years Discount
One claim-free year 20%
Two consecutive claim-free years 25%
Three consecutive claim-free years 35%
Four consecutive claim-free years 45%
Five consecutive claim-free years 50%

How is Two-Wheeler Insurance premium calculated?

The premium of scooter/bike insurance depends on several factors:
IDV: Higher the IDV, the higher premium.
Scooter/Bike Model: The Two-Wheeler brand, model, engine capacity and type of fuel used also affect the premium amount. For instance, if it is an expensive, high-end model, it will fetch a higher premium.
Purpose of Vehicle: If you are using the scooter/bike for commercial purpose or long-distances, obviously there would be more wear and tear. So, the premium will be high. On the contrary, the premium will be lower for vehicles used to travel for personal reasons or short-distances.
Owner-rider: The age, occupation, driving experience, lifestyle habits and past driving record also affect the premium.
Security Devices: You can get up to 2.5% discount on own-damage premium if your Two-Wheeler is installed with anti-theft devices approved by the Automotive Research Association of India (ARAI).


What are cashless claims?

The cashlessclaimis a facility offered to the policyholders by the insurance company for easy and quick claim settlement process. If your vehicle needs repairs due to damages caused byan accident, you can take it to any network garage of the insurance provider. The garage will repair your vehicle and charge the bills directly to the insurance company without you requiring paying the cash up front.


Stepwise Procedure

You have several options to buy scooter/bike insurance. You can request an insurance advisor to visit your home/office, you can visit the branch of the insurance company,or you can buy online. If you are purchasing online car insurance, it can be done in a few simple steps.

Step

01

Choose ‘buy’ or ‘renew’ option under Two-Wheeler Insurance on the company website.

Step

02

Enter yourvehicle and personal details in the online form.

Step

03

Select add-on covers as you need and discounts as applicable. This willgive you the final premium amount.

Step

04

Fill in complete details. Check the summary. Make the payment.

Step

05

The policy will be delivered instantly in PDF form in your email.

Note:Before issuance of policy, vehicle inspection may or may not be conducted depending on the credibility of your vehicle and your driving records.

How to Renew Two-Wheeler Insurance Online

Remember that scooter/bike insurance renewal needs to be done a few days before it expires. If there is a time lag between the expiry and scooter/bike insurance renewal, you won't be able to get insurance benefits in the interim.
You can do scooter/bike insurance renewal online by following the online process as mentioned on the insurance company website. Just make sure you keep your personal, vehicle details and old policy details handy. You would be required to fill this information in the online form. Since you are making an electronic payment, also keep the creditcard or net banking details ready so that you can pay timely before the login session expires. After you receive the insurance policy in the PDF form in your mailbox, save it on your computer in a secure location. It is also advisable to take a printout and file it with your other important documents. .

How to Renew Two-Wheeler Insurance Online

Remember that scooter/bike insurance renewal needs to be done a few days before it expires. If there is a time lag between the expiry and scooter/bike insurance renewal, you won't be able to get insurance benefits in the interim. You can do scooter/bike insurance renewalonline by following the online process as mentioned on the insurance company website. Just make sure you keep your personal, vehicle details and old policy details handy. You would be required to fill this information in the online form. Since you are making an electronic payment, also keep the creditcard or net banking details ready so that you can pay timely before the login session expires. After you receive the insurance policy in the PDF form in your mailbox, save it on your computer in a secure location. It is also advisable to take a printout and file it with your other important documents. .

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Buy Two-Wheeler Insurance for 2 & 3 Years Now

Most people tend to forget the renewal dates of their Two-Wheeler policies. In spite of reminder emails and alerts from the insurance company, they may still fail to renew it on time. The good news is that you can now buy Two-Wheeler Insurance for 2 and 3 years at a stretch. You can also do Two-Wheeler Insurance renewal online for these many years. Also, according to the latest announcement from IRDA following a Supreme Court order, it is mandatory for scooter/bike owner to buy long-term third party insurance. The benefits of buying a long-term policy are:

More Savings

IRDA revises third-party premiums every year. The hike in premiums can cost you more. However, a long-term policy saves you from this hike. What is more, you even get a discount of 10% and 20% on 2 &3-year policies.

Long-Term Protection

You can peace of mind on-road and off-road knowing that you and your vehicle are protected for 2-3 years. The insurance company gives you a single policy document with a straight validity of 2-3 years.

Avail Better NCB discounts

Even if you make a single claim, NCB becomes zero percent in a single-year policy. However, in a long-term policy, NCB reduces to the previous percentage slab and does not become nil in spite of making a claim.

No More Yearly Renewals

There is a huge risk to your life and vehicle if you drive it during the policy lapse period. 2 &3-year policy ensure that you don't have to worry about annual scooter/bike insurance renewals.

More Savings

IRDA revises third-party premiums every year. The hike in premiums can cost you more. However, a long-term policy saves you from this hike. What is more, you even get a discount of 10% and 20% on 2 &3-year policies.

Long-Term Protection

You can peace of mind on-road and off-road knowing that you and your vehicle are protected for 2-3 years. The insurance company gives you a single policy document with a straight validity of 2-3 years.

Avail Better NCB discounts

Even if you make a single claim, NCB becomes zero percent in a single-year policy. However, in a long-term policy, NCB reduces to the previous percentage slab and does not become nil in spite of making a claim.

No More Yearly Renewals

There is a huge risk to your life and vehicle if you drive it during the policy lapse period. 2 &3-year policy ensure that you don't have to worry about annual scooter/bike insurance renewals.

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Get in touch with Bharti AXA today to buy the best Two-Wheeler Insurance or get a scooter/bike insurance quote.

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FAQ's

  • Car Insurance after GST

Goods and Services Tax, popularly known as GST, is a reform for our economy’s indirect tax plan. Car insurance premium includes 15 percent as the service tax. It will be increased to 18 percent after GST

  • Is it possible to opt for an add-on without a policy?

No, it is not possible to opt for an add-on without a policy. Our add-ons are available only in addition to our motor insurance policy.

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