Two Wheeler Insurance
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What is Two-Wheeler Insurance
This type of insurance policy is designed specifically for owners of two-wheelers such as motorcycles and scooters. It provides financial protection against various risks, such as accidents, theft, and natural calamities.
Accidents
Two-wheeler accidents can result in significant damage to the vehicle and injuries to the rider. Two-wheeler insurance typically covers the cost of damages and injuries resulting from accidents, providing financial protection to the policyholder and their passengers.
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Theft
Two-wheelers are vulnerable to theft, and comprehensive two-wheeler insurance provides coverage against theft, ensuring that the policyholder can recover the cost of their vehicle in case of theft.
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Fire
Two-wheeler insurance covers damages caused by fire, which can cause extensive damage to the vehicle and be costly to repair or replace without insurance.
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Natural Disasters
Two-wheelers can be damaged due to natural disasters such as floods, earthquakes, and hurricanes. However, two-wheeler insurance with comprehensive coverage offers protection against such events.
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Personal Accident
Two-wheeler insurance can also provide coverage for personal accidents, including medical expenses and disability benefits for the rider and passengers in the event of an accident.
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Third-Party Losses
Two-wheeler insurance covers third-party losses resulting from accidents involving the policyholder's vehicle, including property damage and bodily injury to other people involved in the accident. This coverage ensures that the policyholder is not held financially responsible for damages caused to others in case of an accident.
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Add-on Cover in Two-Wheeler Insurance
Add-on covers in two-wheeler insurance are optional benefits that policyholders can choose to add to their standard insurance policy to enhance their coverage. These add-ons provide extra protection to the policyholder's vehicle and can be purchased by paying an additional premium.
Zero Depreciation
With this add-on, you don't have to worry about depreciation when you file a claim for your two-wheeler. You can get the full cost of replacing damaged parts, without any depreciation deduction. However, this depreciation cover does not cover tires, tubes, parts made of nylon, plastic, rubber, fiberglass, glass, and batteries, which are covered for a 50% - 0% depreciation rate as applicable.
Pillion Rider Cover
This feature also covers any injuries or bodily damages to the pillion rider. Only one pillion rider is covered under this insurance.
Engine Protection
Any wear and tear to the insurance due to a mishap is covered by this add-on. The usual cover includes damage due to water ingression, damage due to leakage of lubricants, engine failure due to starting a wet engine, and physical damages
Roadside Damage or Breakdown Assistance
This add-on can be a lifesaver if you experience a breakdown or other emergency on the road. You'll get assistance for towing, battery jump-starts, and even fuel delivery.
Consumables Add-ons
This add-on covers the cost of replacing consumable items such as nuts and bolts, screws, and engine oil that may need replacement after an accident or a breakdown.
What Is Not Covered in Two-Wheeler Insurance
Here are the list of exclusions which are usually not covered under any two-wheeler insurance policy
Regular wear and tear
Two-wheeler insurance do not cover damage that occurs due to regular wear and tear, such as worn-out tires, brakes, and clutch plates.
Mechanical or Electrical breakdown
Insurance companies do not cover repairs or replacement costs for mechanical or electrical breakdowns that are not caused by an accident.
Intentional damage
Damage caused intentionally or due to illegal activities such as racing or driving under the influence of alcohol or drugs is not covered under two-wheeler insurance.
Riding without a valid license
If the policyholder or the rider does not have a valid driving license, the two-wheeler insurance policy will be deemed invalid, and no claims will be entertained.
Riding outside geographical limits
Two-wheeler insurance does not cover damages or accidents that occur outside the geographical limits of the policy. The policyholder must ensure that they have the necessary coverage if they plan to ride outside the policy's coverage area.
Consequential losses
Insurance companies do not cover damages or losses that occur indirectly or as a result of the insured event, such as loss of income due to an accident.
Commercial use of the two-wheeler
Two-wheeler insurance does not cover vehicles used for commercial purposes, such as delivering goods or passengers for hire. A separate commercial vehicle insurance policy is required for such vehicles.
Third Party Two-Wheeler Insurance
This is the basic and mandatory insurance policy that covers the policyholder against any legal liabilities arising out of injury, death, or property damage to a third party. This policy does not cover damages or losses to the policyholder's two-wheeler. This is a mandatory insurance that a two-wheeler owner must have in order to ride in India.
Read More...Comprehensive Two-Wheeler Insurance
This policy provides extensive coverage to the policyholder for damages or losses caused to their two-wheeler due to accidents, theft, natural calamities, and man-made disasters. It also includes third-party liability coverage. The comprehensive insurance policy is optional, and the policyholder can choose to include additional riders or add-ons for further protection.
Read More...Own Damage Insurance
It is a type of insurance that covers damages to your own vehicle due to accidents, theft, natural calamities, and other incidents that are not caused by a third party. This type of insurance provides financial protection to the owner in case their two-wheeler is damaged or stolen.
Read More...Here is the table comparing the three categories of two-wheeler insurance
Features | Third Party Insurance | Comprehensive Insurance | Own Damage Insurance |
---|---|---|---|
Coverage | Third-party liability only | Third-party liability along with own damages | Own damages only |
Premium | Low | High | Moderate |
Add-Ons | Not included | Optional | Optional |
Protection | Provides basic protection to third parties involved in the accident | Provides comprehensive protection to both the owner and third party involved in an accident | Provides protection only to the owner in case of damages to their own vehicle |
Mandatory | Mandatory by law | Not mandatory, but highly recommended | Not mandatory, but highly recommended |
No Claim Bonus(NCB) | Not applicable | Available | Not applicable |
Documents you need to obtain Two-Wheeler Insurance
Here is the list of documents that one needs to have for obtaining two-wheeler insurance
- Registration Certificate (RC) of the vehicle
- Driving License of the policyholder
- Aadhaar Card or any other government-approved ID proof
- Address proof, which can be any utility bill or rent agreement
- Passport size photograph of the policyholder
- Previous insurance policy details (in case of policy renewal)
- Details of the two-wheeler, such as make, model, and manufacturing year.
Procedure for Filing a Claim
Claim for own damages
- Inform the insurer immediately after the accident and file an FIR with the police (if required)
- Take photographs of the damaged vehicle and submit them to the insurer
- Submit a duly filled claim form along with a copy of the driving License and the RC of the vehicle
- Provide an estimate of the repair costs and any other relevant documents requested by the insurer
- Wait for the surveyor to inspect the vehicle and provide an assessment report
- If approved, the insurer will authorize repairs, and the policyholder will have to pay the deductible or any other amount not covered under the policy
- After completing the repairs, submit the bills and receipts to the insurer for reimbursement.
Claim for theft of the insured vehicle
- File an FIR with the police immediately after discovering the theft and inform the insurer
- Submit a copy of the FIR, the driving License, and the RC of the vehicle to the insurer
- Wait for the surveyor to inspect the vehicle and provide an assessment report
- If the claim is approved, the insurer will provide compensation based on the Insured Declared Value (IDV) of the vehicle
- The policyholder may have to provide additional documents or information requested by the insurer.
Claim for third-party liability
- Inform the insurer immediately after the accident and file an FIR with the police (if required)
- Take photographs of the damaged vehicle and submit them to the insurer
- Provide details of the third party involved in the accident, such as name, contact details, and vehicle registration number
- Submit a duly filled claim form along with a copy of the driving License and the RC of the insured vehicle
- Wait for the surveyor to inspect the vehicle and provide an assessment report
- If the claim is approved, the insurer will provide compensation for the third-party damages and the legal expenses incurred by the policyholder
- The policyholder may have to provide additional documents or information requested by the insurer.
Documents required for raising a two wheeler insurance claim
To ensure a quick and seamless approval of claims, there is a paperless system under which all the soft copies are required to be submitted through digital means. The most common documents for raising the claim are as follows: (note that various other documents might be required, depending on the nature of the claim)
- Driver Licence
- Insurance Policy
- Vehicle Registration Certificate
- First Information Report (FIR) (in a few cases)
- Original keys (if needed)
- Non-traceable Certificate (If required)
- Proof of identification of the policyholder
- Fire brigade report (if lodged)
- Original purchase invoice (if opted for Return to Invoice add-on cover)
- Original repair bills
- Original payment receipts
Why should you choose us
10 Years Of Experience in Vehicle Insurance
At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, we have over 10 years of experience in the vehicle insurance industry. Our team of experienced professionals has in-depth knowledge and expertise to help our customers make informed decisions about their insurance needs. We have helped countless customers find the best insurance policies at the most cost-effective prices.
Read More...Customized Individual Recommendation
We understand that every customer has unique insurance requirements. At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, our team takes the time to understand our client's specific needs and recommends a customized insurance solution that fits their budget and coverage requirements. We offer the best insurance quotations and help our customers compare insurance policies from multiple insurers to ensure they find the policy that is right for them.
Read More...Quick and Hassle-Free Insurance Renewal
We value our customers' time and offer a quick and hassle-free renewal process for their insurance policy. Our customers can easily renew their policies with a few clicks online or a phone call.
Read More...Dedicated Claim Support
At Kataria Insurance Brokers Pvt. Ltd and Policy Leader, we provide prompt assistance and support to our clients during the claim process. Our dedicated team of professionals guides our customers through the entire process, from filing the claim to receiving the settlement amount. We work tirelessly to ensure our clients receive the compensation they deserve.
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Multiple Insurers Under One Roof and Insurance Brokers in Gujarat and around the country
At Kataria Insurance Brokers Pvt. Ltd, we understand that every driver has unique insurance needs. That's why we work with multiple insurers to offer a range of insurance policies, ensuring our customers have various options to choose from. With our industry expertise and status as leading insurance brokers in Gujarat, we provide our clients with the most comprehensive and cost-effective insurance solutions.
Read More...Choose Kataria Insurance Brokers Pvt. Ltd for the best insurance quotes, personalized insurance solutions tailored to your needs, hassle-free insurance renewal, dedicated support for your claims, and a wide range of insurance policies to choose from. Our team of experts is committed to providing you with exceptional service and peace of mind knowing that you are well-protected on the road. Don't let unexpected accidents or losses disrupt your life. Contact us today to get the best two-wheeler insurance policy that meets your needs and budget.