Types Of Two Wheeler Insurance, And Its Benefits

Published on 07-Feb-2023

The fast progression of the automobile sector and the number of vehicles roaming around the roadside also indicate the safety and precautionary measures before using any two-wheeler vehicle. Due to a large number of accidental incidents, personal damages emphasize more on both physical safety as well as financial protection against any misfortune. And better financial protection for your vehicular assets and individual safety cover can be assured with a two-wheeler insurance plan.

The recent report by the Ministry of Road Transport & Highways 2021, concluded that there were a total of 4,12,432 unfortunate road accident cases in India. It has been reported that a total of 1,53,972 people were killed in accidents and 3,84,448 were injured. The above data implies the quintessential requirement of the safety of yourself and your vehicles.

Not only a road accident can cause harm to your motor property but a natural calamity or theft incident can also cause a heavy detriment to you and your vehicles. To protect your two-wheeler motor assets such as bike, scooty, and scooter, etc, you need the right protective two-wheeler insurance cover.

Let us discuss the key features of bike insurance plans and other two-wheeler insurance. You may choose a required plan with Policy.Online based on the type and the premium amount of the insurance plan. We offer you several insurance products from top insurers in India and guarantee to secure you and your essential assets.

What Is A Two Wheeler Insurance Policy?
A two wheeler insurance is a protection plan for your two-wheeler motor vehicles against any damage or loss to the vehicle. It provides insurance coverage for bikes, scooters, scooters, and other two-wheeler vehicles for damages arising due to accidents, vandalism, theft and natural disasters, etc. It covers all your expenditures spent in the repair or renewal of a vehicle due to an accidental event. Apart from financial security for your motor assets, it offers other advantages too.

The Two Wheeler Insurance plan also provides insurance coverage against third-party liabilities arising from injuries or bodily damage to one or more than one individual. As per the Motor Vehicle Act 1988, it is mandatory to have valid third party two wheeler insurance. Motor insurance is required to protect yourself and your vehicle and compensate for financial loss that may arise due to an accidental incident.

Types Of Two Wheeler Insurance Policy
There are many types of two-wheeler insurance plans to protect your vehicle based on your insurance needs. Below is a brief description of the types of the two-wheeler insurance policy.
Comprehensive Two Wheeler Insurance Policy: It protects the owner from the cost incurred in vehicle damages due to accidental causes involving a third party as well as their own vehicle.

You can also choose add-on plans by paying an extra affordable premium charge on your active policy to add more insurance benefits. It also offers personal accident cover at a very affordable premium for accidental death and disability. This plan mainly includes coverage for accidental damage, theft, fire, natural calamities, third-party liability, personal accidents, damage in transit, etc.

Third-Party Cover: This insurance plan offers you protection against legal liabilities originating due to an accident/damages to a third party bike insurance. If your vehicle causes any harm or damage to third parties or their surrounding properties, then your insurance company will provide compensatory pay for the damages caused by you.

Standalone OD policy: Standalone Own Damage Plan offers coverage against the damage or loss of your two-wheeler vehicle, bike, and scooty by man-made disasters like theft, riot, strife, vandalism, etc, or natural disasters such as earthquakes, floods, cyclones, landslides, etc.

What is Covered Under Two-Wheeler Insurance Plan?
The loss or damage due to the following causes are covered under this plan which is mentioned below:
Any loss or damage to your vehicle due to natural disasters such as floods, lightning, earthquake, landslide, storms, etc, is covered under this plan.

This plan covers loss or damage due to man-made calamities such as riots, strikes, vandalism, terror activity, etc. It also offers personal accidental coverage to the policyholder for an accidental injury resulting in temporary or permanent disability.
In case of theft or burglary of a two-wheeler vehicle, an insurer will pay compensation to the policyholder. This plan also includes coverage for legal third-party liabilities.
Loss due to fire or explosion is also covered under this policy.

Benefits Of a Two-Wheeler Insurance Policy
Let us enlist some major benefits that one can get by buying a two-wheeler insurance policy online which are given below:-
It provides financial protection against any damage or detriment arising due to accidents or man-made or natural calamities.
It ensures policy coverage in case of theft or burglary of the vehicle.
Insurance coverage for third-party liabilities is also offered in this plan.

You can avail of policy benefits in case of injury or temporary or permanent disability or loss of a limb that resulted in permanent disability. It also offers coverage for spare parts of the two-wheeler vehicle that include nuts and bolts, gears, brake pads, etc.

Why Should You Buy A Two-Wheeler Insurance With Policy.Online?

Policy.Online is an insurance broker in India which offers a 360° Portal to help you in selecting the best insurance plan. You can also get quotes from the top IRDA-authorized insurance firms in India. We provide you with features for renewing your bike insurance; We provide insurance coverage at a very affordable premium that suits your pocket for a flexible policy period. With a team of active and expert people in the matter of insurance and broking subjects, we are committed to solve your every query and doubt related to insurance.