Two-Wheeler Insurance
Two-Wheeler Insurance
What is Two-Wheeler Insurance?
Two wheeler insurance/bike 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 bike insurance policy provides coverage for all types of two wheelers, be it a scooty, scooter, motorcycle or a sports bike regardless of its personal or commercial use. Bike insurance 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 bike 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 bike 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 Bike Policies can further be customized by opting for add-ons that help protect your bike in all possible situations.
Types of Two Wheeler Insurance in India
Comprehensive Insurance Policy
A comprehensive bike 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.
Third Party Liability Cover
Third party liability insurance is the most common form of bike insurance which is a bare minimum policy that you must have to drive the car 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.
Factors to consider before buying Two Wheeler Insurance
value
facility
bonus
procedure
Depreciation
Cover
Allowance
features
Assistance
Protector
What is covered in BimaBuy Two Wheeler Insurance
Accidents
Loss & damage to the insured vehicle due to accidents or collisions
Thefts or Fires
Coverage for the damage & losses incurred when your bike is unfortunately stolen or due to accidental fire
Natural Calamities
Expenses related to damages caused by natural calamities such as flood, cyclone, earthquake etc.
Personal Accident
If an accident leads to the death or disability of the car owner
Third party Cover
Financial liability incurred due to the injury/death of a third party or the property
Manmade Calamities
Coverage against various manmade calamities such as riot, terrorist activity, malicious act etc.
Add-on Covers offered by BimaBuy Two Wheeler Insurance
As the names suggests, add on covers stands for additional coverage that are not included in the comprehensive bike 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 bike insurance premium. You have the liberty to select one for multiple add-ons covers. Some of the best add on covers for bike insurance policies are following.
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.
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.
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.
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 .
In case there is a damage which is beyond repair or your bike gets stolen, with this add-on you are eligible to get the complete amount of the original invoice value including the registration & road tax.
The repair or replacement cost of the bike accessories which make your bike look unique and can enhance your driving accessories can be expensive. Opting this add-on will insure your bike accessories and will reduce the burden in case of any loss or damage.
In an unforeseen or unfortunate accident, the fellow bike 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.
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.
Benefits of Two Wheeler Insurance
Having a bike insurance certainly has a plethora of benefits to offer
- Covers third party damages involving your vehicle.
- It pays for the hospitalization expenses in case of an accident.
- Offers cashless payment system. You can repair your vehicle form the network garages of your insurer and avail cashless facility.
- Compensates the costs of repairing the damages caused due to any theft, accident, fire or natural calamity.
- Reduces the financial & legal damage that can arise from a third-party liability.
- With multiple add-ons, get additional benefits in addition to the one that are already included in the policy.
What's not included in the insurance policy
Own damage of the Bike
In case of third party or liability cover, the damage incurred to the insured car 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 valid driving license
The loss or damage occurred when the driver is driving without a valid 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.
Why choose BimaBuy for Two Wheeler Insurance
- Cashless garageservices
- Doorstep pickup &repair
- Quick claimservices
- 24/7 CustomerSupport
- Multiple Add-onCovers
- Instant renewal &purchase
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.
Our FAQ's
Still have question ?
Our client Success Team is always here to help
Zero dep refers to Zero Depreciation. Zero Depreciation cover allows you to nullify the depreciation charges on your car & 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 car policy has expired or es expiring soon, you can renew it by visiting the visiting www.bimabuy.in and opting for renewal of the car insurance. Few simple steps and renewal are done
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 car insurance policy online. Infact it is the fastest means to get your insurance done with zero paperwork.