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    • *All discounts are provided by Insurers as per IRDAI approved plans.
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What is Two-Wheeler Insurance?

Two-wheeler insurance, or bike insurance, is an insurance policy that helps you to cover against losses/damages that may happen to both you and to your two-wheeler due to events like accidents, thefts, or natural disasters. You will also get protection against damages to any third-party vehicle, property, or person. A two wheeler insurance covers several types of two-wheelers, like motorcycles, mopeds, scooters and more.

Reasons To Have Two-Wheeler Insurance Policy in India

Lack of good roads, rush hours and unregulated traffic problems are a part of today’s life. Moreover, instances of rainfall or heat waves may cause many problems on the road, such as slippery surfaces, mushy or muddy areas, or sticky tar. These situations may cause damages to the two-wheeler vehicle and even injure the riders in the event of accidents. To stay protected from all such incidents, it is important to have a valid two-wheeler insurance. As per the Motor Vehicle Act 1988, motorcycles plying on roads must be covered with at least a third-party insurance policy.

Some of the benefits of buying two-wheeler insurance are:

  • Financial Protection: Two wheeler insurance provides financial cover that helps save a lot of money in case of an accident, theft or third-party liabilities. Even minor damage can cost thousands of rupees. This bike insurance policy helps you get the damages repaired without creating a hole in your pocket.
  • Peace of Mind: A small damage to your vehicle can lead to huge repair charges. If you have two wheeler insurance, your insurer will take care of the unwanted expenses, giving you peace of mind so that you can ride without any worry.
  • Accidental Injuries: When a bike comes under a truck, along with the vehicle damages, there’s severe injury to the rider too. If you have a bike insurance policy, you can be covered under the inbuilt and mandatory personal accident cover of ₹15 lakh, according to the IRDA.
  • Cost of Spare Parts: The rising demand for two wheelers has led to an increase in the vehicle cost along with their spare parts cost. This two-wheeler policy covers the cost of spare parts, including simple nuts and bolts or parts such as the gears or the brake pads, which have become costlier than before.
  • Roadside Assistance: At the time of policy purchase, you can also opt for roadside assistance add-on for emergency assistance. This includes services such as towing, minor repairs, flat tyre, fuel delivery, etc.


A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Benefits of Buying Two-Wheeler Insurance Online

You can consider following points before buying two-wheeler insurance online from Chqbook Insurance and avail some additional benefits:

1

Quick Two Wheeler Policy Issuance

You can purchase two-wheeler insurance at Chqbook Insurance website quickly as it issues online policy within a few seconds.

2

Easy Comparison

You can easily look through benefits and prices of different 2 wheeler insurers on our website and compare them before purchasing the most suitable one for yourself.

3

No Previous Two Wheeler Policy Details Needed

You do not have to provide details of your previous bike insurance policy in case it has been expired for more than 90 days

4

No Inspection or Documentation

You can get your policy issued easily without any inspection and documentation. It is even the same for renewal if it is done before expiry of the previous policy

5

Online Support

You do not need to worry about anything if you're stuck anywhere anytime. Our customer care team is always available to support you on anything that you need related to 2 wheeler insurance.

6

Easy Renewal of Expired Policy

You can easily renew your expired policy on our website with few clicks.

Types of Two-Wheeler Insurance Plans in India

Till September 1, 2018, only two types of motor insurance policies were available where vehicle owners could either buy a third-party cover for their car or buy a comprehensive insurance policy which included OD insurance policy and third-party insurance for one year. The Insurance Regulatory Development Authority of India (IRDAI) issued new guidelines for motor insurance policies for new vehicle owners (i.e.,those who bought vehicles on or after September 1, 2018).

Insurers are now allowed to offer stand-alone annual own damage (OD) insurance policies (including stand-alone own damage policy for fire and/or theft) for cars and two-wheelers, both new and old. However, on and after September 1, 2018, IRDAI allows insurers to offer long-term motor insurance policies and made long-term third-party insurance compulsory for new vehicle owners.

  • Standalone Third Party Two Wheeler Insurance Policy: The standalone third-party two-wheeler insurance policy will help you in the event of an accident, where your vehicle causes damage to a third-party property or injuries to a third-party person. Third-party two-wheeler insurance is a mandatory if you want your bike to ply out on the roads. However, damages to your bike or theft of the bike are not covered under a third-party policy.
  • Standalone Own Damage Two Wheeler Insurance Policy: A Standalone Own Damage Bike Insurance Policy is helpful where an unfortunate accident can leave your bike damaged. While the Own Damage cover cannot include third-party liabilities, your bike can receive financial protection against damages to it caused by natural or man-made disasters.
  • Comprehensive Two Wheeler Insurance Policy: Also known as Package policy or Bundle policy are of different types sold by different insurers. You may find packages like;

> Long term Comprehensive Cover: with 3 years TP + 3 years OD cover.

> Bundle Cover: with 3 years TP + 1 year OD cover,

                            Or 5 years TP + 1 year OD,

                            Or 1 year TP + 1 year OD

Difference Between Third Party Cover and Comprehensive Cover

Third Party Insurance Policy Comprehensive Insurance Policy
This is the fundamental two wheeler insurance coverage that includes financial liabilities arising from third party damages. This type of coverage protects you, your vehicle along with third party person/property from the financial damages caused due to an accident.
It’s mandated under the Motor Vehicles Act Not a mandatory requirement under the Motor Vehicles Act of 1988
Third party insurance is cheaper than comprehensive two wheeler insurance, due to narrow fixed coverage. Due to the wide coverage, this type of insurance is more expensive as compared to third party two wheeler insurance.
Does not cover own damage to the vehicle or Personal Accident cover to the owner-driver. Does not cover any kind of deliberate damage like damage caused by driving under the influence of drugs/intoxicants, damage caused by illegal racing, etc.
Add-ons are not available Coverage can be enhanced with two wheeler insurance add-ons

 

Covered Offered By Two-Wheeler Insurance Policy

1 Own Damage Cover

This cover protects the insured vehicle against any loss or damage caused by the means of natural calamities, fire & explosion, man made calamities or theft.

2 Legal Third-Party Liability

It offers coverage against any legal financial loss that may occur due to third party property damage or bodily injury, which may have even led to his/her demise.

3 Personal Accident Coverage

PA cover up to ₹15 lakh is available for injuries to the rider/owner that may result in temporary or permanent, partial or total disabilities. The cover applies when the person is travelling, mounting, or dismounting from the vehicle. The insurers offer optional personal accident cover for the co-passengers with different cover options.

4 Losses & Damages Suffered Due to Natural Calamities

Any loss or damage caused to the insured vehicle due to natural calamities, such as lightning, earthquake, flood, hurricane, cyclone, typhoon, storm, tempest, inundation, hailstorm, and landslide and rockslides among others will be covered.

5 Losses & Damages Suffered Due to Man made Calamities

It offers coverage against various man made calamities, such as riot, a strike by outside means, malicious act, terrorist activity and any damages caused in transit by road, rail, inland waterway, lift, elevator or air, among others.

1 General wear and tear, consequential loss, and mechanical/electrical breakdown of the two-wheeler due to age.
2 If the vehicle is used outside the determined geographical borders.
3 Damage caused due to war, war-like operations, mutiny and nuclear perils.
4 Damage caused to the bike for unauthorized activities like racing, reliability trials, speed tests, etc.
5 Own damage cover for the bike in case of a third-party liability-only cover.
6 Personal accident cover for the owner-driver in case of a 3rd party liability policy.
7 Riding the vehicle without a helmet or valid driving license.
8 Driving a bike under the influence of intoxicants and narcotics.
9 If you use the bike under restricted usage conditions, such as driving in a flood-prone area (contributory negligence).

Popular Add-Ons In Two-Insurance Policy

Zero Depreciation Cover

An insurer settles the claim amount after deducting the depreciation value of your vehicle. This cover eliminates any depreciation deduction at the time of claim settlement and the full amount is paid to you.

No Claim Bonus Protect

NCB is applicable only if no claims are made in a policy year. NCB Protect allows you to save your NCB and get a discount benefit during renewals even if you make any claim during the previous policy year.

Return to Invoice

In the event of total loss due to any accident, the insurers will pay the Insured Declared Value (IDV) of your two wheeler, which is the current market value of the vehicle after deducting depreciation. RTI covers this gap between the invoice price of your vehicle and the IDV, including registration and taxes, allowing you to get the entire purchase value as the claim amount.

See More Add-ons

Factors Affecting Two-Wheeler Insurance Premium

Your two wheeler insurance premium is determined and will also be affected on the basis of several factors like:

1 Type of insurance policy

Third-party plans are the most basic and cost effective,
but they offer limited cover. In case of comprehensive insurance, your choice of add-ons will also influence the cost of the policy.

2 Insured Declared Value

The age of the bike is inversely proportional to the market value of the vehicle and thus it is related to IDV. Older vehicles means lower IDV and thus lower premiums.

3 Age of the vehicle

Higher the age of your vehicle, lesser the premium amount that you will be required to pay. Your vehicle value decreases with age because of depreciation.

4 Make and Model of the vehicle

If you own a basic bike model, the bike insurance
premium amount will lower but with higher variants and models the premium amount will increase.

5 No Claim Bonus

No Claim Bonus allows you to receive a discount on your
premium at the time of renewal if you have not made any claims. Thus, NCB reduces the premium that you are required to pay.

6 Geographic Location

The place where you will be riding your bike affects your premium as certain places, such as metropolitan cities, have higher risk exposure. The premium amount will increase with increased risk exposure.

7 Installed Safety Device

If a bike is fitted with a safety device such as a burglar
alarm, then the insurance provider offers a lower premium since the bike is safe from theft and hence, carries less risk than a bike without a safety alarm.

8 Engine Capacity

The cost of the third party component of your plan depends heavily on the cubic capacity of your bike. The higher the cubic capacity, the more premium you have to pay for a third party bike insurance policy

9 Deductible

While Compulsory deductibles are mandatory but do not affect the premium of the two wheeler insurance policy majorly, the Voluntary deductibles can
facilitate a huge difference when it comes to bike insurance premium calculation as it lowers the premium amount.

10 Add-ons

The add-on option is available with the comprehensive two-wheeler insurance policy. These are the additional benefits which tend to increase the cost of the premium as they are not a part of the policy itself.

Tips To Save On Two-Insurance Premium

There are several ways through which you can save on your two-wheeler insurance premium without compromising on your policy coverage. Check them out below:

Tip #1: Avoid small claims

No Claim Bonus is rewarded for every claim-free year. You can reserve your NCB to avail discounts on your renewal premium by not making small claims

Tip #2: Know your vehicle's age

It is important to be aware of the year of manufacture of your bike. This is because older motorcycles attract lower premium rates due to having a lower Insured Declared Value (IDV).

Tip #3: Install authorized safety devices

You should consider safety devices that can enhance the safety of your bike. Insurers will offer your premium at a discounted rate.

Tip #4: Choose the CC of your 2 wheeler wisely

Choosing the engine cubic capacity (CC) of your vehicle is important because higher CC attracts a higher premium. Thus, you need to choose the engine CC wisely.

Tip #5: Opt for a higher voluntary deductible

Deductibles decrease the insurer’s liability towards the claim amount as you need to pay a certain share of the amount from your own pocket. Therefore, if you opt for a high voluntary deductible, your insurer will acknowledge it by offering lower premium rates.

How to Claim Two-Wheeler Insurance Online?

There are two ways of filing a two-wheeler insurance claim online with your two-wheeler insurance online.

Cashless claim is a facility where the claim amount will be directly paid to the network garage where the repairs are done.

Step 1: Inform your insurer about the accident or mishap

Step 2: Survey will be conducted by the insurer to estimate the damage

Step 3: Fill in the claim form and submit it along with all other required documents

Step 4: Insurer will approve for the claim/repair

Step 5: Your vehicle will be repaired at the network garage and your insurer will pay the repair charges directly to the garage

Step 6: You will be required to pay the deductibles or non-covered expenses (if any)

If you get your vehicle repairs done at any garage which is not in your insurer’s list of approved garages, you need to go for reimbursement of claims. You need to pay the repair expenses from pocket and will later have to file for reimbursement with your insurer.

Step 1: Register the claim with your insurer

Step 2: Fill up the claim form and submit it along with other required documents

Step 3: A survey will be conducted to estimate the repair cost and you will be informed about the assessment

Step 4: Give your insured vehicle for repair at any non-approved garage

Step 5: After the repair is done, the insurer will conduct another inspection

Step 6: Pay all the charges and clear the bill at the garage

Step 7: Submit all the bills, payment receipts as well as ‘proof of release’ to the insurer

Step 8: After the claim is approved, the claim amount will be paid to you

Documents Required For Reimbursement Claim

In Case of Accident Damages.

  • Duly signed claim form
  • Valid copy of RC of your bike
  • Valid copy of your driving license
  • Copy of your policy
  • Police FIR (in case of accidents, theft and third-party liabilities)
  • Repair bill and payment of receipt in original Proof of release (for reimbursement claim)

Save Upto 70%* on Bike Insurance Premiums

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*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply CIBPL/Two-Wheeler/WebBanner/English/Jan-22/010

FAQs on Two-Wheeler Insurance

Can I replace a new vehicle in my current insurance policy?

No, your two-wheeler insurance policy is attached to your two-wheeler registration number and hence your current insurance policy cannot be used for your new vehicle. You will need to get a new two-wheeler insurance policy for the same. In case you are selling your old vehicle, you can just transfer your old insurance policy to the new owner.

Can bike insurance be transferred to a new owner of the bike?

Yes, a bike insurance policy can be transferred from the old bike owner to the new bike owner, if it is sold out. The policy transfer must be completed within 14 days from the purchase date of the bike.

Will my bike insurance work if someone else borrows it?

A motor insurance policy is connected to the respective bike and its owner. However, if someone borrows your bike and while doing so, causes damages to the bike or a third-party then your bike insurance will still cover for the losses and damages (as per policy conditions), if you mention this while making the claim and that both the bike papers and policy documents are in your name only

What is the penalty that I might incur if my two wheeler is uninsured?

As per Section 197 of the Motor Vehicles Act, 1988, if you are caught driving without insurance, you will be charged ₹2,000 fine for the first time and ₹4,000 subsequently.

Is pillion rider a third party?

Yes, the pillion rider, or the passenger on the back seat is considered as a third-party and will hence be covered for in the case of an accident.

Is the digital bike insurance policy or the soft copy of the insurance policy valid in India?

Yes, digital bike insurance policies stored in the DigiLocker or as soft copy in your mobile like a PDF document are valid in India. The physical document is not mandatory while riding a bike in India.

What to do if my motorcycle is lost or stolen?

In this case, you need to visit the nearest police station to lodge an FIR against the lost or stolen vehicle immediately. Then you need to inform your insurer about the incident to file a claim. Submit required documents with a copy of the FIR attached. The customer care executive will guide you through the process.

What is an endorsement in motor insurance?

Endorsement is making changes to the policy’s terms and conditions. If the policyholder needs to change certain details such as address, name, etc., it can be done through the endorsement process in the bike insurance policy.

What is a premium bearing endorsement?

A premium bearing endorsement is an endorsement for which additional premium is charged. Some of the examples are:

  • Transfer of ownership
  • Change of RTO location

What is a non-premium bearing endorsement?

A non-premium bearing endorsement is an endorsement for which you are not charged any additional cost. Some of the examples are:

  • Rectification in contact details
  • Rectification in engine or chassis number
  • Addition of hypothecation

What is ARAI?

ARAI stands for Automotive Research Association of India. If you have installed an ARAI approved anti-theft device in your vehicle, whose installation is duly certified by the agency, you can get a discount of 2.5% on the OD (Own Damage) premium, subject to a maximum of ₹500.

Can a bike owner purchase two bike insurance for the same bike?

No, a bike owner cannot buy two insurance plans for the same bike. However, you can buy a third-party policy and own-damage plan separately from different insurance companies.

What if my bike insurance policy expires?

Every insurance policy has a date of expiry before which you should renew it to enjoy continuous benefits from it. However, if you fail to renew the policy on due date, you can renew it within 90 days of grace period from the expiry date. If you fail to renew even within the grace period, your policy will cease, and all your accumulated benefits will be lost.