Two Wheeler Insurance

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What is Two Wheeler Insurance?

Two wheeler insurance/Two Wheeler insurance policy falls under the general insurance category in India. It gives your coverage against the damages caused due to unforeseen events such as road accidents, thefts, fire, or natural disasters. As per Motor Vehicles Act, 1988, two wheeler insurance is mandatory in the India.
You will also get protection against liabilities arising due to damages to any third-party vehicle, property or person. Online Two Wheeler insurance policy provides coverage for all types of two wheelers, be it a scooty, scooter, motorcycle or a sports Two Wheeler regardless of its personal or commercial use.
Two Wheelerinsurance is the ultimate solution to battle with the high costs of damages done to your motor cycle due to an accident.

Why do you need a Two Wheeler Insurance?

People often wonder why vehicle insurance is mandatory in India? With the facts & stats given below the dilemma of getting your Two Wheeler insurance done will resolve.
As per the Road Accident Report of 2019, a total number of 449,002 accidents took place in the country during the calendar year 2019 leading to 151,113 deaths and 451,361 injuries.
Driving in India is a luxury but it has its own perils. Lack of legal enforcements by road authorities, rule breaking, bad road-traffic behaviour can lead to an accident even if you are driving with utmost sincerity. This is the time when Two Wheeler insurance comes into play and gives you coverage against loss & damages caused. Bima Buy offers you wide range of third-party & comprehensive insurance plans at an affordable price online & the best part is that Comprehensive Two Wheeler Policies can further be customized by opting for add-ons that help protect your Two Wheeler in all possible situations.

Types of Two Wheeler Insurance in India

Third Party Liability Cover

Third party liability insurance is the most common form of Two Wheeler insurance which is a bare minimum policy that you must have to drive the Two Wheeler as per the rules and regulations of Motor Vehicles Act of 1988. It covers damages & injuries caused by the insured vehicle, only to a third-party person or property. If a policy holder is considered as the first party, the insurer as the second party and any other person or property involved is the third party.

Comprehensive Insurance Policy

A comprehensive Two Wheeler insurance, is an optional insurance policy that gives you a higher level of protection for your vehicle. It comes with more features & benefits. The best advantage is that it protects your own vehicle against various damages arising from theft, accident, natural & man-made disasters like fire, earthquake, tornado or damage caused by animals, falling objects etc. It includes the third-party liability policy by default.

Factors to consider before buying Two Wheeler insurance

Factors to consider before buying Two Wheeler insurance

What is covered in Bima Buy Two Wheeler Insurance

What is covered in Bima Buy Two Wheeler Insurance

Add-Ons Covers offered by Bima Buy Two Wheeler insurance

As the names suggests, add on covers stands for additional coverage that are not included in the comprehensive Two Wheeler insurance policy. Some of us want additional features and benefits or security to the base policy to enhance the protection of your vehicle. To opt for an add-on cover for your vehicle, you need to pay some extra amount along with your Two Wheeler insurance premium. You have the liberty to select one for multiple add-ons covers. Some of the best add on covers for Two Wheeler insurance policies are following.

ZERO DEPRECIATION

With passage of time, the value of your two-wheeler goes through certain amount of reduction which is known as depreciation. Most insurance companies don’t cover the cost of repair or replacement of the depreciable parts. By opting zero depreciation, you can get the full amount without any deduction.

Engine Protector

Any damage caused to two wheeler’s engine is not covered under the comprehensive policy.
This add-on specifically covers the damages caused to the engine & gearbox post an accident, electronic short-circuiting etc. It also compensates the cost of fixing the damages caused due to leakage of lubricating oil or water regression.

No Claim Bonus

It is an additional discount rewarded on the renewal premium if no claim has been filed by the policyholder during the policy term. It can be either 10% or it can go as high as 50 % on the basis of the claim free years on your policy. This add-on can save your money on your insurance premium.

24/7 Roadside assistance

This add-on provides you round-the-clock services such as refuelling, towing, change of punctured tyre, arranging for a mechanic etc. in case the two wheeler break down anywhere. With this add-on, the insurer you emergency roadside assistance .

Return to invoice

In case there is a damage which is beyond repair or your Two Wheeler gets stolen, with this add-on you are eligible to get the complete amount of the original invoice value including the registration & road tax.

Two Wheeler accessories cover

The repair or replacement cost of the Two Wheeler accessories which make your Two Wheeler look unique and can enhance your driving accessories can be expensive. Opting this add-on will insure your Two Wheeler accessories and will reduce the burden in case of any loss or damage.

Passenger Cover

In an unforeseen or unfortunate accident, the fellow Two Wheeler rider can get hurt (permanent or partial disabilities) or god forbid, in case of the death, this add-on works like an accident coverage for the co-rider.

EMI Protection

As part of the EMI protection cover, your insurer will pay the EMIs of your insured vehicle if it is getting repaired at an approved garage after an accident.

What’s not included in the insurance policy

Own damage of the Two Wheeler

In case of third party or liability cover, the damage incurred to the insured Two Wheeler due to an accident is not covered.

Negligence

The loss or damage occurred as a result of not following the manufacture’s guidelines or manual.

Gradual wear & tear

Everything has an expiry date. Any damage or loss which is due to the life of the parts is not covered.

Driving without driving license

The loss or damage occurred when the driver is driving without a driving license.

Drunken Driving

Any loss occurred when you are involved in drink & drive are not covered.

Not in force policy

If the policy is not in force the loss or damage will not be covered

Benefits of Two Wheeler insurance

Why choose buy Bima Buy for Two Wheeler insurance

Benefits of Two Wheeler insurance

Why choose buy Bima Buy for Two Wheeler insurance

How to file a Two Wheeler insurance claim

Our dedicated claim assistance team is there to help you with all what you need to file a claim. With the legacy of 12+ years we have a claim settlement ratio of 97%. Call our claim settlement team or apply for the claim by signing in into your account.

Frequently Asked questions about Two Wheeler insurance

Zero dep refers to Zero Depreciation. Zero Depreciation cover allows you to nullify the depreciation charges on your Two Wheeler & its parts and allows you to get full settlement of repairs, costs during a claim regardless of any write-offs.

This is not fixed. The limit of filing a claim varies from one insurer company to another.

It means you need not to pay anything to the repair shops. The insurer company will pay the garage for the repair cost.

If your Two Wheeler policy has expired or es expiring soon, you can renew it by visiting the visiting www.bimabuy.in and opting for renewal of the Two Wheeler insurance. Few simple steps and renewal are done.

You have to call our customer care number number ……………… . We will help you from there.

Absolutely yes! You can transfer your NCB from your old insurer to the new insurer.

Yes! As per the Motor Vehicles Act 1988, it is compulsory to have atleast a third-party liability cover.

There are certain types of claims in which the insurer might need you to file the FIR as the copy of FIR might be need to file the claim. Cases such as theft or third party liability claim need to be reported to the police and FIR filing is mandatory.

There is no standard time for the claim settlement. Claim settlement period may vary from one insurer to other. Also, the cause of claim also make a difference in the claim settlement period.

Yes, it is 100% safe to bur or renew the Two Wheeler insurance policy online. Infact it is the fastest means to get your insurance done with zero paperwork.

Below is the list of documents:
1. Signed claim form
2. Registration Certificate of your Two Wheeler
3. Valid driving license
4. Copy of your insurance policy
5. Police FIR(in case of theft, accident, or third party liability)
6. Original Repair bill & payment receipt
7. Proof of release