What is Two Wheeler Insurance?

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

Different types of Bike insurance

There are 2 types of Bike Insurance plans available in India.

Two-wheeler insurance is categorized into Third-Party and Comprehensive insurance plans. You can go ahead and pick the plan that best suits your needs and budget.

Third-Party Bike Insurance

This type of bike insurance covers only third party liability arising due to an accident or collision by your insured bike. This is the most basic plan and is made mandatory as per the New Motor Vehicle Act,2019. Driving an uninsured vehicle can attract a fine of Rs. 2000 and can also result in imprisonment. Hence, getting a two-wheeler insurance plan ensures that you are in compliance with the traffic rules while it also offers financial coverage against third-party damages.

Comprehensive Bike Insurance

A comprehensive cover, on the other hand, covers damages to your bike apart from third party liabilities. Such damages include accidental loss or damage, theft, damage due to natural calamities and man-made calamities, and even fire. Although this plan is not mandatory and also comes with a higher premium, it is popular amongst customers due to its all-round protection and complete coverage.