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Two Wheeler Insurance- The smart and safe way to go about

Updated on: Jan 13th, 2022


7 min read

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Due to rising traffic volumes across all cities in India, the chances of suffering an accident have increased significantly for a two-wheeler owner. Similarly, there is a requirement of protection against instances like theft or natural calamities. In such a situation, only comprehensive Two-wheeler insurance can offer the desired levels of security. Here we will be explaining the importance and benefits of two-wheeler insurance which make it the smartest and safest way to go about.

What is a Two-Wheeler Insurance?

In simple words, a two-wheeler insurance policy offers protection against any foreseen or unforeseen damages that may happen to a motorbike or its rider due to instances such as accident, theft or natural calamities. The statutory authorities and government have been trying to raise awareness regarding the benefits of bike insurance policy. Yet, many two-wheeler owners tend to ignore it. When a policy is in effect, it reimburses the bike owner against any expenses incurred due to any of the acceptable clauses in the policy document. The insurer will not reimburse any damage that takes place due to a reason not covered by the policy.

How to subscribe to a two-wheeler insurance policy online

Subscribing to a new policy or renewing an existing policy has become effortless with the help of the several online platforms offering comprehensive insurance policies. Though the process might differ across specific providers; the standard process involves the following steps: –

  • Log-on to the website/app or platform of the provider you prefer.
  • Browse to the section “Two-wheeler insurance.”
  • If you have an existing policy and want to renew it, select the renewal option. Now, you need to provide the details related to your existing policy in the relevant fields.
  • To subscribe to a new policy, select the new policy option, and then provide the details of your motorbike as mentioned in the RC.
  • After filling out the necessary details, you will be able to see the insurance premium you need to pay.
  • If you are satisfied with it, then proceed towards making the payment using any of the online payment channels.
  • Once you have completed the online payment process, you will be redirected to the insurer website and will be able to download the policy and other documents. The same would be mailed to your registered email id as well.
  • If you face any difficulty, you can call on the customer care number and a representative will assist you.
  • After completing the online payment successfully, your bike insurance policy comes into effect immediately.
  • Always remember to renew your policy before the expiry date otherwise if the policy lapses, you are left unprotected.

Benefits of having a two-wheeler insurance

  • Compliance with the guidelines of statutory authorities and safety from any fines.
  • Protection against unforeseen damages and expenses.
  • Personal accident cover in case of permanent disability or death.
  • You enjoy significant peace of mind as you are safe from exigencies.
  • Protection against third-party liabilities.

Types of Two-Wheeler Insurance

Though there are several types of specific bike insurance policies from different companies available in the market, they can be broadly classified into two categories: –

  • Comprehensive Policies that offer protection to the bike and the rider(s) against all types of damages.
  • Liability-only policies that offer coverage against injuries from actions of a third-party.

With the rapid integration of technology in the insurance sector, we can see a trend where customers prefer to purchase two-wheeler insurance online. Keeping up with the customer demand, many insurance companies and online aggregators are now offering the facility of subscribing to two-wheeler insurance online.

Coverage of Two-wheeler insurance policies

Two-wheeler insurance policy offers you coverage against: –

  • Loss or damage to the vehicle due to man-made calamities like accident, theft, burglary, etc.
  • Damage to the vehicle or loss due to natural calamities like fire, flood or earthquakes.
  • Protection against legal accountability due to death, injury or damage to property.

Why subscribe to two-wheeler insurance online

When you purchase the respective insurance product online, the benefits accrued are multiplied. Here are the significant benefits of buying two-wheeler insurance online: –

Instant Coverage: When you buy your bike insurance policy online, you enjoy the benefit of instant coverage. You get a digitally signed copy of the complete policy on your email almost instantly. This is a significant improvement over the earlier days when you would only get a cover note, and the original policy was mailed to you after several days.

Plenty of options: When you subscribe to a two-wheeler insurance policy online, you can access several insurance products. Many of them are customizable and enables you to choose a product which meets your requirements in the best possible manner.

Additional covers: You can access, compare and subscribe to several optional covers to enhance the coverage of your policy. Optional covers like personal accident cover, zero-depreciation cover, reimbursement for spare parts etc. make sure that you do not incur any unforeseen expenditure during claim settlement.

Discounts and Bonus: Insurers who have been approved by the IRDA, offer you several discounts and bonus on subscribing of online two-wheeler insurance policies. There are discounts available for members of specific associations, discounts for installation of the anti-theft device, No-claim bonus and several other benefits on online insurance policies for two-wheelers.

Easy Transfer of No Claim Bonus: If you observe safe driving practices, your insurer would easily transfer your NCB, when you purchase a new vehicle. In effect, NCB is offered to a driver and not to the vehicle. This will help you save money while subscribing to a new policy online.

Easy renewals: When you purchase a motorbike insurance policy online, you have to provide all the relevant details to the insurer. This makes the renewal process a hassle-free experience as you can quickly renew using the website or mobile app of the insurer without filling-up long forms. Any discounts or bonus will be automatically deducted from the premium amount. Two-wheeler insurance is a must for every two-wheeler owner. Other than the fact that it has been made mandatory by the government, the benefits that it offers are quite extensive. So, you must make sure at all times that your motorbike has an active insurance policy in place.

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