How To Get Bike Insurance Online | Bike Insurance Check | Two Wheeler Insurance Premium Calculator | Two Wheeler Insurance
Two wheeler insurance/Bike Insurance refers to an insurance policy, taken to cover against any damages that may occur to your motorcycle / two wheeler due to an accident, theft, or natural disaster. 2 wheeler insurance provides protection against third party liabilities arising from injuries to one or more individuals.
Two Wheeler Insurance
Bike insurance is an ideal solution to meet financial costs & losses that may arise due to the damages caused to the motorcycle. The bike insurance cover provides protection to all types of two wheelers like motorcycle, moped, scooty, scooter.
What is Bike Insurance?
Bike insurance policy is a contract between the insurer & the bike owner in which the insurance company provides financial coverage to your bike against any loss or damages due to an accident. As per the Motor Vehicle Act 1988, third party bike insurance is mandatory in India. Bike insurance covers you from any accidental injuries caused while driving a two wheeler / motorbike on Indian roads. Buy or renew two wheeler insurance online upto 3 years within 30 seconds to avoid paying a fine of Rs. 2,000.
7 Reasons to Buy Two Wheeler Insurance Online
Below are the mentioned important facts which you can consider before buying two wheeler insurance online from Policybazaar.com and avail certain additional benefits:
- Quick Two Wheeler Policy Issuance: You can buy two wheeler insurance at quickly as it issues online policy within a seconds
- Pay No Extra Charges: You will not be required to pay any extra charges
- No Previous Two Wheeler Policy Details Needed: You don’t have to provide details of your previous bike insurance policy in case it has been expired for more than 90 days
- No Inspection or Documentation: You can get your policy renewed without any inspection and documentation
- Easy Renewal of Expired Policy: You can easily renew your expired policy on the website
- Quick Claim Settlement: Policybazaar team helps you while filing a claim for your vehicle
- Online Support: Our team is always with you whenever you need. You do not need to worry about anything if you’ll stuck anywhere anytime
Types of Bike Insurance Plans in India
Broadly, there are generally two types of two wheeler insurance policies offered by insurance companies in India. You can buy Third Party bike insurance and Comprehensive bike insurance. See below for more information:
Third Party Bike Insurance
- As the name suggests, a third party bike insurance that safeguards the rider against all the legal obligations that arise out of causing damage to the third party. The third party, here, can be property or person. Third-party bike insurance covers you against any liabilities that you’ve landed upon yourself for causing accidental damages to someone else’s property or vehicle. It also covers your liabilities towards causing accidental injuries to a third party person, including his death.
- Indian Motor Vehicle Act, 1988 mandates anyone who owns a two wheeler, be it motorcycle or scooter, to have valid third party bike insurance if plying on public roads in the country. Those who do not comply with the rule will be liable to pay huge penalties.
Comprehensive Bike Insurance
- Comprehensive bike insurance that protects the rider against any own damage to his vehicle in addition to the third party legal liabilities. It shields your bike from incidents of fire, natural calamities, theft, accidents, man-made disasters and related adversities. It also provides you with personal accident cover in case you sustain any accidental injuries while riding your bike.
Key Features of Bike Insurance Policy
Two wheeler insurance market has changed dramatically since the emergence of new players. Two wheeler insurers nowadays have come up with a range of features to woo customers and ensure they continue with them year after year. Today, buying a bike insurance online over the internet is a hassle-free and quick easy process. Let us take a look at some of the key features of two wheeler insurance plans:
- Comprehensive and Liability Only Coverage: The rider has the option of choosing the comprehensive or liability-only policy. The liability-only policy is required under Indian Motor Vehicle law and each rider needs to have at least that. On the other hand, a comprehensive two wheeler insurance cover also protects against damages caused to the insured vehicle and provides personal accident cover for the co-riders (generally as an add-on cover) in addition to third party bike insurance cover.
- Compulsory Personal Accident Cover of Rs. 15 Lakh: Bike owners now can avail personal accident cover of Rs. 15 lakh under their two wheeler insurance policy as an inbuilt feature. Earlier it was Rs. 1 lakh, but recently, IRDA has increased the cover to up to Rs. 15 lakh and made it mandatory.
- Optional Coverage: The additional coverage is offered at an extra cost but goes a long way to ease the process of filing claims by providing extra cover. It includes personal accident cover for pillion riders, enhanced cover for spare parts & accessories, zero depreciation cover and so on.
- Easy Transfer of No Claim Bonus (NCB): The NCB discount can be easily transferred if you buy a new two wheeler vehicle. The NCB is given to the rider/driver/owner and not to the vehicle. The NCB rewards a person for safe driving practices and for not making any claims in the earlier year(s).
- Discounts: IRDA approved insurers provide several discounts, such as a discount for having membership of a recognized automotive association, discount for vehicles that have approved anti-theft devices, etc. Owners with an unblemished record also receive concessions via NCB.
- Quick Registration for Internet Purchase: Insurers offer online policy purchase or policy renewal through their websites and sometimes even through mobile apps. This makes it easy for the policyholder to get their needs fulfilled. Since all prior policy claim or additional details are already in the database, the process is quick and highly convenient for the customer.
How to Claim Two Wheeler Insurance Online?
There are two ways of filing a two wheeler insurance claim online with your two wheeler insurer online. You can either lodge a cashless claim or a reimbursement claim with your insurer. Let us discuss both types of claims in detail.
- Cashless Claim: In case of cashless claims, the claim amount will be directly paid to the network garage where the repairs were done. Cashless claim facility can be availed only if you get your insured vehicle repaired at one of the network garages of your insurer.
- Reimbursement Claim: Reimbursement claims can be registered if you get the repairs done at a garage which is not a part of your insurer’s list of approved garages. In this case, you will be required to pay the repair expenses and will later have to file for reimbursement with your insurer.
Two Wheeler Insurance Claim Settlement Process
Following are the steps involved in the claim settlement process for cashless and reimbursement claim for your bike:
Cashless Claim Settlement Process
- Inform your insurer about the accident or mishap
- Survey to estimate the damage will be conducted
- Fill in the claim form and submit it along with all other required documents
- Insurer will approve the repair
- Your vehicle will be repaired at the network garage
- Post repairs, your insurer will pay the repair charges directly to the garage
- You will be required to pay the deductibles or non-covered expenses (if any)
Reimbursement Claim Settlement Process
- Register the claim with your insurer
- Fill up the claim form and submit it with your insurer along with other documents required
- A survey will be conducted to estimate the repair cost and you will be informed about the assessment
- Give your insured vehicle for repair at a non-approved garage
- After the repair is done, the insurer conducts another inspection
- Pay all the charges and clear the bill at the garage
- Submit all the bills, payment receipts as well as ‘proof of release’ to the insurer
- After the claim is approved, the claim amount will be paid to you
Here is a list of documents that you need to submit at the time of filing a claim with your insurer:
- Duly signed claim form
- Valid copy of Registration Certificate or 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
How to Renew Two Wheeler Insurance Policy Online?
gives you an option to instantly renew your two wheeler insurance online in just 30 seconds with the lowest guaranteed premium and save unnecessary hassle and costs. Buy & renew motorcycle insurance policy & save up to 85% on two wheeler
Below are some of the common steps that you must follow while renewing online two wheeler insurance policy:
- Compare various 2 wheeler insurance plans from leading insurers
- Save money through a side-by-side comparison and choose a plan that fits your pocket well
- Get assistance from our call centre
Also Read : Driving Licence Gujarat Apply Online
Online Two Wheeler Insurance Renewal Process
Renew your two wheeler insurance policy online by filling up the form available on the website. Though the process is very simple for renewing your bike insurance policy in just 30 seconds. You just need to keep your policy handy with you. Follow the below mentioned steps to renew your two wheeler insurance policy online:
- Go to bike insurance renewal form
- Enter your bike registration number & other relevant information
- Choose the two wheeler insurance plan that you want to purchase
- Select the riders or update IDV. You can update IDV as per your requirement. “Your IDV should be 10% less than Previous Year Policy
- After completing the process, you will see the premium amount that you need to pay
- You can choose any mode of online payment to pay the premium amount
- Once the payment is done, your two wheeler insurance policy will be renewed
Your bike insurance policy renewal documents will be emailed on your registered email address. You can also download your policy document & get a printout. This is the valid document & you can show the document to traffic police if he wants & save yourself to pay the heavy traffic fines.
Steps to Renew Two Wheeler Insurance Policy Offline
Two wheeler insurance can be traditionally renewed by visiting the insurer’s nearest office. The process is very simple though you have to find the time to go to the branch. You need to know your policy and vehicle details and fill the same in the application form. The branch generally hands over the new policy immediately if you pay the premium by cash, demand draft or debit card.
Cheque payments need time to clear and in such cases, your policy is will mostly be emailed on your official email address. In case you want to buy new optional riders or add-on covers, you may need to visit the nearest branch office. This step may vary from one insurer to another and thus, it is better to confirm it by contacting your insurer before opting for additional covers.