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Frequently Asked Questions
What is Two Wheeler Insurance?
Two wheeler insurance is an insurance policy required to provide protection to your two-wheeler against any damage which might result in a financial loss. In addition to it, any third party liability which has arisen due to the use of your two-wheeler is covered under two wheeler insurance. As per the Motor Vehicle Act, it is mandatory to buy a Liability only policy without which one cannot use the vehicle on road.
What is covered in two wheeler insurance?
- Loss or Damage to your vehicle against Natural Calamities
Fire, explosion, self-ignition or lightning, earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, rockslide.
- Loss or Damage to your vehicle against Man-made Calamities
Burglary, theft, riot, strike, malicious act, accident by external means, terrorist activity, any damage in transit by road, rail, inland waterway, lift, elevator or air.
- Personal Accident Cover
Coverage in the range of Rs.1 – 15 lakhs can be provided for the individual owner/driver of the vehicle while driving or traveling, mounting or dismounting from the two-wheeler. Optional personal accident covers for co-passengers available.
- Third Party Liability:
Protection against legal liability due to accidental damages resulting in the permanent injury or death of a person, and damage caused to the surrounding property.
What is not covered in two wheeler insurance?
- Normal wear and tear and general aging of the vehicle.
- Depreciation or any consequential loss.
- Mechanical/ electrical breakdown.
- Damage to tires and tubes unless the vehicle is damaged at the same time, in which case the liability of the company shall be limited to 50% of the cost of replacement.
- Vehicles being used otherwise than in accordance with limitations as to use.
- Damage to/ by a person driving any vehicles or cars without a valid license.
- Damage to/ by a person driving the vehicle under the influence of drugs or liquor.
- Loss/ damage due to war, mutiny or nuclear risk.
What are the various types of policies?
There two types of insurance policies – comprehensive and third party liability. Comprehensive insurance ensures complete protection to your two-wheeler due to any impact damage, fire, theft, earthquake, etc. In addition to this, it provides cover against any third party liability in terms of death, bodily injury and third party property damage.
However, third party liability, which is the mandatory cover, protects your vehicle against third-party liability against person and property.
Is third party liability a mandatory policy?
Yes, the Motor Vehicle Act states that every motor vehicle plying on the road has to be insured, with a Liability Only policy at the very least.
What are the various long term policies available for Two Wheeler insurance?
There are various long term policies available as below: -
For brand new two-wheeler
As per the Supreme Court directive, the customer can choose from the mentioned options:
- Liability only policy for a policy duration of 5 years. This policy provides coverage against third party liability in terms of death or injury or third party property damage
- Package policy for a policy duration of 5 years. This policy provides a comprehensive cover to protect your vehicle due to any impact damage, fire, theft, earthquake, etc. In addition to this, it provides cover against any third party liability in terms of death, bodily injury and third party property damage.
iii. Bundled policy for a policy duration of 5 years. This policy provides cover to own damage for one year and 5 years for the third party section.
For one-year-old two wheeler
You can choose from the mentioned options:
- Package/Liability policy for up to 2 or 3 years policy duration
What is Zero depreciation cover or bumper to bumper coverage?
Zero depreciation is an add-on cover available at an additional premium for 1-year policies. It offers complete coverage to your two-wheeler without factoring into depreciation.
For instance, if your vehicle is badly damaged, then you don’t need to pay for any depreciation charge and will be eligible for full claim amount subject to terms and conditions of the policy.
How does an emergency assistance program work?
Emergency assistance is an add-on cover available at an additional premium for 1-year policies. It has multiple benefits like breakdown assistance, tire replacement, towing, fuel replacement, etc which can be availed during the policy duration. Customers need to call up the customer care number mentioned on the policy for availing these benefits.
What happens when I wish to renew my expired policy?
You can easily renew your expired policy online. No inspection is required and you may simply buy the policy online. Once the payment is made, you will receive the policy copy.
What happens to my No Claim Bonus while renewing an expired policy?
No Claim Bonus is valid up to 90 days from the previous policy expiry date. If the policy is not renewed within 90 days, No Claim Bonus will become 0% and no benefit shall be passed on to the renewed policy.
How do I register my claim?
Please call us at +91 – 9008800011 or write to us at email@example.com, our customer service team will be happy to help you with the claims procedure.