Insurance transfers the risk to the insurance company by paying a certain amount at regular intervals called a premium.
Two-wheeler insurance is a similar agreement between you and the insurance company in which your two-wheeler is covered in case of any accident, physical damage to the vehicle, theft or sometimes third party liability in return for a premium.
Two-wheeler insurance includes motorbike insurance, scooty insurance and scooter insurance. In India, two-wheeler insurance companies offer a host of policies and benefits that are highly enjoyed by bikers and other two-wheeler owners.
Biking may be your passion but in order to enjoy this passion without any hurdles, you need to understand the importance of insuring your vehicle. It not only shields you from third party liability, but also from physical damage and theft.
Legal coverage against third-party liability: Your two-wheeler policy will provide protection against legal implications in case your bike hits someone or causes an accident or damages their assets/ properties.
Covers your medical expenses: A two-wheeler policy saves you from financial liabilities in case of bike accidents that result in serious injuries. The policy will take care of hefty medical bills. This is possible if you opt for an additional accidental rider along with your policy.
Covers the pillion rider: If you have a passenger with you 90% of the time, it is highly recommended to get an additional rider covering pillion drivers. In case of emergencies, the policy will not only save you but also your passenger from financial stress.
Road assistance in case of vehicle break-down: There is always a possibility of your bike breaking down midway, where finding immediate assistance becomes exasperating. This type of insurance will provide road-side assistance by providing towing facilities.
Cover the repair cost of your bike: Most two-wheeler insurance companies provide cashless repair facilities within their network of garages. This helps customers save time, money and effort.
Two-wheeler insurance policies do not cover certain causes of damage of the vehicle.
Two wheeler insurance calculators
A two-wheeler insurance calculator is an online device that offers you the policy best suited for the type and age of the two-wheeler you possess. It enables you to compare the policies offered by various insurance carriers in order to select the most suitable coverage for your bike. The tool also helps you calculate the premium you will need to pay based on the following: