Insure your Two Wheeler with Best Bike Insurance Plans

While it is mandatory for vehicle owners to purchase a two wheeler insurance policy and renew it regularly, it is also imperative that you understand why these policies are necessary.

• A two wheeler insurance policy is mandatory as per the Motor Vehicle Act, 1988. The act requires all two-wheelers that ply in public places to be insured with at least a basic third-party liability insurance policy, if not a comprehensive two wheeler insurance policy.
• The third-party liability insurance policy offers coverage against damages caused to the vehicle of a third party and bodily injury/death of a third party. Thus, you should at least purchase a third-party liability insurance policy, given how they offer you coverage against third-party legal liability.
• Both third-party liability insurance policies and comprehensive two wheeler insurance policies provide coverage against personal accidents. Healthcare can be expensive, and your hospitalisation and medical bills, in the event of an accident, could quickly add up to a substantial amount. A bike insurance plan, in such a case, can cover your hospitalisation expenses.
• Comprehensive two wheeler insurance policies also offer an own damage cover to the policyholder, in addition to providing a third-party liability insurance cover and personal accident cover. Thus, this type of insurance policy will cover damages caused to the vehicle due to natural disasters or man-made circumstances that are out of your control.
• Comprehensive two wheeler insurance policies cover not only the rider but also the pillion rider, for an additional fee. So, not only will your policy pay for any medical expenses that you may incur as a result of an accident, but it will also provide a cover to the pillion rider.
• Policy buyers can purchase add-ons along with a comprehensive two wheeler insurance policy for increased coverage. Based on one’s requirements, policy buyers can opt for any of the above-mentioned add-on covers for complete financial protection.
• Policyholders can choose to purchase a multi-year two wheeler insurance policy just to avoid the inconvenience of having to renew their motor insurance policy every year.*Note: Starting from 1 September 2018, all new vehicle buyers are required to purchase third-party liability insurance covers with a 5-year tenure.
• In most cases, two wheeler insurance policies are quite affordable. Thus, you can receive significant coverage while paying an affordable premium.
• Insurance firms issuing two-wheeler policies also provide customers roadside assistance facility. Many-a-times, when one is riding in the middle of the night or on highways, it is hard to get any assistance if one meets with an accident or if the vehicle breaks down. If you have a two wheeler insurance policy, all you need to do is contact the insurer and request for roadside assistance. The insurer will arrange for your vehicle to be towed to the nearest service centre or garage.
• Most motor insurance companies have tie-ups with certain garages, where you can avail cashless services. In this case, your insurer will settle the repair bills directly with the garage. However, you may still have to pay for any inadmissible expenses and the deductible. That being said, getting your vehicle repaired at a cashless garage/network garage can help you lower your out-of-pocket expenses.
• Having a bike insurance policy will help you ride with a sense of security. Riding a two-wheeler is not the same as driving a car. While it is convenient and saves time, it is also far riskier to ride a two-wheeler. Hence, purchasing a two wheeler insurance plan can provide you with much-needed protection and a sense of safety and security.
• Several insurers offer additional discounts and bonuses to the policy buyer. Thus, with these bonuses and discounts, you can further reduce your premium payable.

In India, two-wheelers are one of the preferred modes of transport as a result of the convenience that they offer to vehicle owners. That being said, using a two-wheeler also has its own set of risks. When riding on the road, the vehicle owner might be involved in an accident that causes damage to the vehicle and/or bodily injury/death of the co-passenger, the rider himself/herself, or a third party. Further, the accident might also cause damage to a third party’s assets or vehicles.

Road accidents are one of the major causes of injury and death across the world, including in India. The incidence of road accidents has increased across the country, with a number of metropolitan cities reporting an increasing number of fatalities due to accidents.

Thus, in order to reduce the financial risks that one is exposed to when riding a two-wheeler, it is necessary to purchase a two wheeler insurance policy for your vehicle. For this reason, the Motor Vehicles Act, 1988 makes it mandatory for all vehicle owners to purchase, at the very least, an insurance cover that provides third-party legal liability. That being said, you should, ideally, opt for a comprehensive two wheeler insurance policy if you want to secure increased coverage.

The evolvement of technology and ease of availability for different products has definitely made humans a wee bit lazy and physically inactive. But on the plus side, such technologies make us independent with our work for the lifestyle that we lead today. Online insurance shopping is one such boon to all the bike owners where you can purchase or renew insurance with few clicks. Earlier it was difficult to purchase two wheeler insurance as we used to visit many insurance companies, submitting documents, visiting for updates numerous times, and finally comparing the policies and then making a decision. This task was exhausting and time consuming as each insurer would be located in different places.

But nowadays all this can be done within few minutes. Insurance companies offer all the facility be it purchasing a new policy or renewing the old policy online. You just have to enter relevant details, few documents scanned and make the payment if you are satisfied with the quote. You can also compare various policy types, plan benefits, various quotes by the insurer, online reviews, claim settlement ratio percentage, network of garages, customer grievance solutions, etc. All these factors are vital to consider while buying a two-wheeler insurance policy.

If you are buying a fresh policy, it is very easy to purchase online as it requires owner personal details, DL number, RC, vehicle specifications like engine capacity, model and make, etc. and other required information to be filled in the online form. On submission the insurer will send the quote and premium payable with add-cover options. If you are satisfied with the quote, you can make the payment online through net banking or debit/credit card. The documents will be mailed to you immediately via email.

By purchasing online, you will also be contributing to a eco-friendly and paperless transactions. You can also purchase two wheeler insurance through mobile apps of the desired insurer where in you can create a portal for yourself and the copy of the insurance will be accessible at any point of time.

A two-wheeler is considered a man/woman’s best friend by many, especially those who enjoy the freedom of riding on their favourite motorcycle or scooter. A two-wheeler comes with a number of benefits for the riders such as affordability, being faster and providing better navigation through traffic, etc. But, when it comes to safety, two-wheelers can be a threat to the riders’ lives if not careful. Therefore it is very important that the riders of motorcycles and scooters abide by the traffic rules and follow them rigorously. But, following traffic rules is not enough, to enhance the safety factor for the rider of a two-wheeler as well as the public, it is vital that the rider avails a suitable two wheeler insurance, either third-party or comprehensive. When making the purchase, it would be in the person’s best interest to avail the plan from a genuine online insurance platform due to the following reasons:

Paperless Documentation

Most of the insurers today offer the facility of paperless documentation when purchasing/renewing the policy online. One can visit a third-party insurance website or the official website of the insurer to make the purchase/renewal. While on the website, the prospective policyholder needs to provide all the relevant information, which will make-up for most of the documentation. Paperless documentation is environment friendly.

Inexpensive and User-Friendly

Online purchase/renewal of the policy is light on one’s pocket due to paperless documentation, discounts offered on insurance premium, absence of a middle-agent, etc. Websites are easy to use mostly, making all the necessary information required to make the purchase/renewal visible to all.

Time Saving and Convenient

Online purchase/renewal of insurance policy is both time saving and convenient. One can make the policy purchase/renewal from anywhere, at one’s own convenience. This makes it easy for the policyholder to purchase/renew the policy.

Discount On Premium

Insurers save on every policy purchase/renewal made online due to paperless documentation, less traveling for verification purpose, etc. The insurers transfer the profit to the policyholder by offering discounts on insurance premiums. Online policy issuance is beneficial to both the policyholder and insurer in term of monetary benefits.

Easy Renewal, Purchase Or Cancellation

Using online platforms make it easy for the insurer to purchase, renew or cancel the insurance policy at any given point in time. This can be done directly on the third-party insurance website or on the official website of the insurer.

Directly Bought from the Insurer

The insurance policy can be bought directly from the insurer via official websites and third-party insurance websites. This comes with a number of benefits such as secure transactions, genuine policy insurance, easy payment modes, etc.

Easy Comparison and Research

Before purchasing/renewing a policy it is important that one does thorough research and choose a plan that best serves the policyholder and his/her two-wheeler insurance needs. Online platforms make it easy to gather information from various sites, compare the policies based on the gathered information, and choose the best one. It is a good idea to check the customer reviews, the reputation of the insurer, etc. before making the purchase/renewal.

Instant Issuance of Policy

The insurance policy is issued easily and instantly when the purchase/renewal is done online. In case the policyholder loses the copy of the policy, he/she can download the same from the official website of the insurer by logging into one’s account.

Efficient and Faster Resolution of Queries and Grievances

Online platforms provide a number of options to resolve queries and grievances. Anyone can visit the respective insurance website for the same.

Easy to Make Endorsements

Endorsements are nothing but changes made to the policy by the insurer on the policyholder’s request. It could be change in the address or contact information, installation/removal of any external accessories, etc.

Instant calculation of the premium estimate

Insurance websites come with a built-in tool called a premium calculator that calculates an estimate of the insurance premium to be paid by the policyholder. This helps the policyholder decide whether the plan is an affordable one or not.

Buying a two wheeler insurance online saves one time, money and unwanted stress. There are a number of websites to compare and buy the policies from, each one offering various features and benefits at competitive prices. Make sure to do sufficient research before deciding on a policy.

Protects your two wheeler:

The first step to protecting your vehicle is to purchase a bike insurance policy. You can either choose to purchase a comprehensive policy or a liability-only two-wheeler insurance policy. Based on the type of insurance policy you purchase, the policy will offer you a range of benefits. Comprehensive bike insurance policies will cover any damage that occurs to your bike. The policy will cover loss of the vehicle or theft of the whole vehicle or parts of it.

Further, the policy will also provide a cover against natural calamities, such as fire, flood, storms, cyclones, etc., and man-made activities, such as riots, strikes, burglary, etc. In addition, the personal accident cover ensures that hospitalization expenses will be paid for in case you happen to meet with an accident. Considering how the cost of repairing a vehicle can really add up, it is wise to have an active comprehensive two wheeler policy at all times. Besides the fact that it is mandatory to purchase, a two wheeler insurance policy is a must-have if you want to keep yourself and your vehicle safe.

Provides a cover against third-party accidental death or injury:

Unfortunately, when we meet with an accident, there is a high chance that we might end up injuring someone else also. A third-party liability-only bike insurance policy will ensure that you will be protected if this happens. In case a third-party happens to meet with an untimely death or sustains severe injuries due to an accident caused by you, they can claim a compensation, and the compensation will be covered by your policy. Further, such an event is also likely to have legal consequences. All your legal fees and expenditures will be covered by your policy.

Covers damage to third-party's property and assets:

Again it is likely that in case of an accident, you may end up damaging another's property or assets. Property, in this case, is defined as another individual's vehicle, parts of the vehicle, house, etc. Reimbursing a third-party for damages to their property may be a real hassle, as these are expenses that you don't normally plan for. However, a liability-only two wheeler insurance policy covers the expenses incurred due to damage of a third-party's property, too. As per the norms set by the Insurance Regulatory and Development Authority of India (IRDAI), damages up to Rs.1 lakh will be covered by your policy. Any damage to the third-party's property or asset beyond this amount will have to be settled by you.

Covers Damage caused to Vehicles:

A third-party liability-only bike insurance policy will only cover any damage that is caused to the third-party's vehicle, whereas a comprehensive policy will cover damages caused to your own vehicle, as well. Further, damage to your vehicle due to man-made and natural calamities will also be covered. However, you will have to note these will have to come under the limits that are specified by the insurer. If your claim amount exceeds your cover, you will have to bear a portion of your bill.

Cashless Facility at Network Garages:

Most insurance companies have tie-ups with certain garages, called network garages, in various cities across India. Insured members can visit these cashless garages and have their bike repaired or serviced without having to bear the costs themselves. After the repair is done, your insurer will settle the bills directly.

However, you will have to remember that not all garages have tie-ups with your insurer. At the time of purchasing the policy, you will be provided a list of network garages. Since this list may be updated with additions and deletion, you will have to look for the updated list on the insurer's website, or you can even call your insurer's toll-free number to locate the nearest network garage.

Another thing to remember is that your insurer will only cover repair costs that have been included in the policy. If damage has been caused to a certain part of the two-wheeler that is not covered by the insurer, you will have to settle these bills on your own. Cashless facility at network garages is a huge boon to policyholders since it cuts your expenses significantly.

Covers Non-Vehicle Owners:

Your vehicle may not only be used by you. It is likely that it may be borrowed by family members and friends. Hence, most comprehensive bike insurance policies also extend the cover to any individual riding the vehicle, even if he/she is not the owner. Thus, you can claim a reimbursement/compensation if you meet with an accident, even if the vehicle didn't belong to you, unless otherwise stated in the policy or if the policy comes with a driver's clause.

Personal Accident Coverage:

Comprehensive two wheeler insurance plans will also cover personal accident expenses incurred by the policyholder and the pillion, for an additional fee. Hence you or your nominee can claim a compensation if you meet with an accidental death, permanent total disability, etc.

Add-On Covers and Riders:

Your two wheeler insurance coverage will vary as per the type of policy purchased by you. However, you can always choose to enhance this basic coverage, if your bike insurance provider offers add-on riders/covers. Many insurers offer an additional Nil Depreciation Cover and a Personal Accident Cover for the pillion. While these add-on covers are completely optional, they will make your coverage more inclusive and exhaustive. Ensure you go through your policy brochure or ask your insurance advisor for information on any add-on covers that may be offered by your insurer.

Peace of Mind and Security:

An accident can cause one a significant amount of emotional, physical, and financial distress. While such events are unforeseen and unavoidable in many cases, you can, at the very least, ensure that you are protected by purchasing a 2 wheeler insurance policy. Your bike insurance policy will provide you a range of benefits and help save your hard-earned money in times of emergency.

No-Claim/Cumulative Bonus:

Most insurers offer a no-claim bonus for every claim-free year. This bonus is reflected in the form of lower premiums for the subsequent year. Since your premium amount will usually increase every year due to inflation and rising costs, these discounts can help you can secure a lower premium rate. A no-claim bonus will only be applicable if you renew the policy within the grace period. If the policy has already lapsed, your accrued benefits will also lapse.

Hassle-Free Claim Settlement:

The claim settlement process is usually quick and hassle-free for 2 wheeler insurance policies. In case of an accident or a vehicle breakdown, you can opt for cashless facility at a network garage. Alternatively, you can also choose to pay for the expenses yourself and have the insurer reimburse you for your expenses, after the due verification has been completed. You claim will be settled after you register the claim with the insurer, have the damage evaluated, provide the necessary documents, and do any required paperwork.

Transfer of No-Claim Bonus:

A no-claim bonus is given to you as a reward for riding safely during the tenure of the policy. This bonus can be accumulated for a few years. If you happen to purchase a new 2 wheeler to replace the existing one, you don't have to purchase a new insurance policy. You can simply transfer your policy with the no-claim bonus. The no-claim bonus can help you avail a lower premium rate for the new vehicle. Also, this is applicable even if you are changing insurers. However, you can only transfer the no-claim bonus if the policyholder remains the same. The no-claim bonus that is linked to a policy under one individual's name cannot be transferred to another individual.

Factors Affecting Two Wheeler Insurance Premiums:

There are several factors that can affect the rate of your premiums. Firstly, a comprehensive insurance policy is likely to have a higher premium than a third-party liability-only policy. Insurers will also look at the policyholder's age, work experience, gender, etc. before deciding on a premium amount. Riders with very less experience may be charged a slightly higher premium.

Other parameters that will be considered include the age and condition of your vehicle, the year of manufacture, number of kilometres, cubic capacity of the engine, etc. Further, if you choose to purchase an add-on rider or opt for a higher voluntary excess, your premium will also be higher.

Quotes for Two-Wheeler Insurance Policy:

It is imperative that you have an idea of how much you will have to pay as a premium, in order to budget accordingly. It is also a wise idea to compare between quotes from a few different insurers, so you can choose one that is affordable and meets your needs. You can choose to receive a quote for a 2 wheeler insurance policy through offline channels, such as walking into the insurer's office or contacting the Customer Service team, or through online modes. Most insurers offer customers the option of calculating their premium directly on the website. Several third-party websites also have this feature and will also enable you to compare between various insurers. All you need to do is enter a few details about yourself, your vehicle, and the type of coverage you require to receive a quote.

Easy Policy Purchase:

There are several insurers offering bike insurance policies in India. While you can choose to purchase a policy of your choosing through an auto dealer or by directly meeting the insurance advisor, you also have the added option of purchasing the policy online. Several insurers will allow prospective customers and existing policyholders to purchase and renew their policy online, through their official website.

Claim Status:

If you have already raised a claim and are awaiting the settlement, you may want to know the status of your claim. Most insurers provide customers the option to track their claim status through their official website by simply entering the policy number. Hence, this enables you to view all information related to your claims in just a few clicks.

The Indian two wheeler industry has seen rapid growth in the past few years. With roads becoming more congested, travel times increasing, and four-wheelers becoming more expensive, two wheelers have truly made things much easier for the Indian commuter. While owning a two wheeler comes with many benefits, you must also invest in a good two wheeler insurance plan.

Purchasing a two wheeler insurance plan is mandatory as per the Motor Vehicles Act, 1988. If you are purchasing a new vehicle, you may get a two wheeler insurance plan along with it, from the dealer. However, if you are purchasing a pre-owned vehicle, you can either transfer your existing policy or purchase a fresh insurance policy for it, and continue to renew the same at the end of the policy tenure. bike insurance plans do not only cover third-party liability. You also have the option of choosing a more extensive coverage by purchasing a comprehensive two wheeler insurance policy.

The Motor Vehicles Act provides the insured member a cover against the various expenses that one may incur due to a road accident. Further, it also provides a cover against any damage that may be caused to your two wheeler due to a natural disaster. Also, legal expenses incurred due to an accident will also be covered. However, you must note that even comprehensive insurance policies come with certain exclusions. For example, vehicle damage caused due to general wear-and-tear may not be covered by most insurance policies. Accidents caused while driving under the influence of alcohol or other narcotic substances will not be covered. Ensure that you go through your policy brochure and make a note of the exclusions, before purchasing your policy.

Any individual who owns a two wheeler is required to purchase a two wheeler insurance policy. Most times, when you purchase a new two wheeler, you will receive a motor insurance policy along with the vehicle. The cost of the policy will be built into the cost of the vehicle. However, these policies are likely to be annual policies, and will have to be renewed by you.

In order to be eligible to purchase a bike policy, you will need to be a salaried individual, and your minimum salary will have to be over the insurer's pre-defined limit. Further, you will need to ensure that you meet the age limits specified by your insurer. Some insurers may set the minimum age at entry to 18 years, while others may extend it to 21 years. You may also need to have a minimum of one year's work experience and a valid landline number as prerequisites to purchase an insurance policy.

Eligibility criteria may vary from insurer to insurer and the aforementioned conditions are generic*

While several insurers offer two wheeler insurance plans with a policy tenure of 1 year, it is wise to consider investing in a more long-term bike insurance policy. In recent times, insurers have started to offer insurance plans with a policy tenure of 2 and 3 years. While it is not mandatory to choose a policy with a longer tenure, and you can opt for a cover that matches your needs, purchasing a long-term insurance policy has its own benefits.

Long-term insurance policies offer you the added advantage of not having to renew your policy at the end of every policy year. Instead, you can simply renew the policy once in 2 or 3 years, as per the tenure chosen by you. Several top insurers in India offer long-term motor insurance policies to customers. Policyholders are also given the option to renew these policies through both online and offline channels.

Advantages Of Long-Term Bike Insurance Policies

• Added Convenience:While having an active two wheeler insurance is mandatory, several people just forget to renew their policy at the end of the policy tenure. With long-term policies, you don't have to worry about renewing your policy every year. You can simply choose to do it at the end of two or three years, as per the tenure opted for by you.
• Fixed Third-Party Premium Rate:Third-party premium rates are decided by the Insurance Regulatory and Development Authority of India (IRDAI), and these rates are likely to be raised every year. You will not have to be concerned about this with a long-term policy. Your third-party premium rate is guaranteed to remain constant for the duration of the policy tenure.
• No-Claim Bonus Benefits: For annual policies, if the insured member makes a claim during the policy year, the no-claim bonus will become 0. However, this works a little differently for long-term policies. If you make a claim on your long-term policy, the no-claim bonus will only reduce instead of becoming nil.
• Choice of Long-Term Policies: Many insurers offer customers long-term policies, and these policies can be purchased through online and offline modes. Further, renewing a long-term policy is also extremely easy and most insurers allow policyholders to renew it online by paying the due premium. Given the amount of choice, you can opt for a policy that perfectly matches your needs and comes at an affordable price.
• Discounts for Long-Term Policies: Many insurers also offer you a discount on the total premium when you purchase a policy with a longer tenure. This will enable you to pay a lower premium and save money.
• Avoid Risk of Policy Lapse: For annual policies, policy renewal has to be done every year. If you delay this process by even a few days, you will be subjecting yourself to several risks. On the contrary, with a long-term insurance policy, you won't have to worry about non-renewal risks for the duration of the policy tenure. Further, if you have to renew a lapsed policy, the insurer may ask for the vehicle to be inspected. In case of a long-term policy, you won't have to go through these hassles.
• Easy Termination of Policy: A long-term insurance policy can be cancelled just as easily as an annual two wheeler policy. The premium you paid while purchasing your policy will be refunded to you after deducting the appropriate charge for the number of months that your two wheeler was covered.
• Coverage for Co-Passengers: Not only will a long-term two wheeler insurance policy protect your vehicle and provide a risk cover for you, but it also provides a personal accident cover for co-passengers (for an additional fee, in most cases). This is extremely important as the pillion rider may also be injured when one meets with an accident.
• Cashless Garages: If your two wheeler is in need of repairs or servicing, you can choose to have this done at your insurer's partner garage. Partner garages give you the added benefit of availing cashless facility.
• Premium payable under three year cover or long-term for two-wheelers:As advertised in the name itself, it is a long-term three year insurance cover for a two-wheeler vehicle. The premium is thrice the amount of annual policy premium, but this amount has to be paid in one go. Unlike the annual premium where renewal premium amount is subject to alteration, in long term policies premium once paid ,the amount cannot be altered during the term under any circumstance.

Purchasing two wheeler insurance is as easy as purchasing the bike itself. The process is simplified, everything is available online and most importantly everyone is aware of the technology changes. Having bike insurance is mandatory under Motor Vehicle Act. The solution to traffic jams isn't getting any better, but the bikes and vehicles are. The two-wheeler manufacturing industry has grown rapidly in the past few years. New models, improved electric on the bikes and other attractive features have dragged the customers to purchase it for the ease and convenience it offers.

At the same time, because of the narrow and badly maintained roads the probability of accidents or collisions have also increased. Therefore buying a two wheeler insurance is necessary. two wheeler insurance offers various protection for different kind of damages. Here is what you can expect from a Two Wheeler insurance:

• Third-party liability cover
• Own damage
• Cover against natural calamities like landslides, floods, storms, lightning, etc.
• Protection against man-made perils like terrorists attack, riots, protests,house breaking, theft, burglary, malicious activities, etc.
• Personal accident cover

• The number of two wheeler insurance companies are as high as the number of two-wheelers that run on Indian roads.
• The options that one can choose from while buying a bike insurance is really vast. It is a competitive market and you can easily negotiate with the insurer for discounts and benefits.
• In this digital era, you do not have to go anywhere to compare policies and then come to a conclusion. You can research online for best insurance policies and the insurance provider and get quotes from them to compare.
• Buying an insurance is mandatory under the law. According to the IRDAI reports some of the best insurance providers are, Bajaj Allianz, HDFC ERGO, ICICI LOMBARD, IFFCO TOKIO, Oriental Insurance, Reliance, New India Assurance and Bharti AXA.
• You can review these insurers online and know the quality of service, CSR, customer problem resolving capacity and so on.
• Comparing insurances and quotes is very important as the benefits and discounts vary from insurer to insurer. All these will help you in making better decision while purchasing a two-wheeler insurance.

If you own a two-wheeler, you are required to have a valid two-wheeler insurance policy, driving licence, and a Pollution under Control (PUC) certificate. Similar to how the Motor Vehicles Act, 1988 makes it mandatory for vehicle owners to have a bike insurance policy at all times, getting a PUC certificate for your vehicle is mandatory as per the Central Motor Vehicles Rule, 1989.

The Pollution under Control certificate, also known as the PUC certificate, is a certification that is granted to vehicles after the vehicle passes the PUC test. Thus, getting a PUC certificate for your two-wheeler implies that your motorbike or scooter’s emissions are within the specified limits.

Why is it Necessary to Get a Pollution under Control (PUC) Certificate in India?

All motor vehicles that ply the roads, including two-wheelers, three-wheelers, and four-wheelers, can cause air pollution if the vehicular emissions are left unchecked. Thus, in order to ensure that the smoke that is released by motor vehicles is not a threat to the quality of the air in one’s city of residence, it is necessary to check the emission levels of the vehicle.

If the emission level is deemed to be safe, a Pollution under Control certificate will be provided to the vehicle owner. There are a number of pollution testing centres that issue PUC certificates for vehicles located all across the country, thus ensuring that vehicle buyers and owners can get a PUC certification for their vehicles with ease. The PUC test is conducted by pollution testing centres at nominal rates that usually range between Rs.60 and Rs.100, based on the type of vehicle that one owns.

Validity of the PUC Certificate

Once issued, the PUC certificate is valid for a period of one year. After the completion of this initial one-year period, you will need to get the PUC test done every 6 months. If the emission reading of your two-wheeler is higher than the approved limit, the PUC certificate’s validity will be decided by the concerned authority based on the test’s reading. If your two-wheeler’s emission levels are extremely high, the PUC testing centre may inform the concerned RTO in your district/city of the same.

Details Mentioned in a PUC Certificate

Certain basic details that are mentioned in the PUC Certificate are as follows:

• Licence plate/registration number of your two-wheeler
• Serial number of the PUC certificate
• Date of when the PUC test was conducted
• Pollution under Control test reading
• The PUC certificate’s expiry date

Penalties in the Absence of a PUC Certificate

In India, riding a two-wheeler, or any vehicle for that matter, without a valid Pollution under Control certificate is a punishable act, as per Section 190(2) of the Motor Vehicles Act, 1988. Further, the individual riding a two-wheeler without a valid PUC certificate will have to pay a sum of Rs.1,000 for the first offence and a sum of Rs.2,000 for every subsequent offence.

Just like your driving licence and the two-wheeler insurance policy, you should also carry your two-wheeler’s PUC certificate with you when riding your two-wheeler. If the concerned authorities stop you and ask you for your vehicle’s PUC certificate, you should be able to produce it immediately if you wish to avoid being fined.

Prescribed Emission Standards in India

All motor vehicles in India are required to meet the emission standards listed below in order to get a PUC certificate for the vehicle:

When Should You Get the PUC Certification?

The PUC certificate should be mandatorily obtained when you purchase a new two-wheeler. PUC certificates, with a one-year validity period, are issued for new two-wheelers. After the first year, you will need to get your vehicle’s emissions tested again and get a PUC certificate via an authorised testing centre.

Where to Obtain a PUC Certificate

A number of petrol pumps across the country have been authorised to conduct Pollution under Control tests. There are also a number of authorised independent testing centres that conduct PUC tests and issue PUC certificates to vehicle owners.

Vehicle owners can also obtain PUC certificates from PUC vans that are located on highways. Any licensed auto emission centre that has a computerised facility to check a vehicle’s emissions can issue a PUC certificate to the vehicle owner.

In order to increase the coverage provided by a comprehensive two wheeler insurance policy, you should consider purchasing add-ons that are offered by your motor insurance provider.Bike insurance companies in India offer a number of riders/add-ons such as the Zero Depreciation Cover, Personal Accident Cover for Co-Passengers, etc. Thus, as a policy buyer, you can purchase any of the add-ons offered by the motor insurance provider to secure a higher coverage. However, given that opting for add-ons can increase your premium payable, it is necessary for you to assess your coverage needs and your premium payment ability before opting for these add-ons.

In conclusion, considering the rising number of road accidents in India, it is a must that you purchase a comprehensive two wheeler insurance policy and customise it with the right add-ons to secure a good level of coverage. Since most leading two wheeler insurance companies in India offer insurance policies through online and offline channels, you, as a prospective policy buyer, can opt for a policy that matches your coverage needs after doing the required research, in a hassle-free manner.

Given that your two wheeler insurance policy might have certain limitations, it is a good idea to enhance the coverage by purchasing add-on covers or riders. Not all insurance companies will offer all add-on covers, hence make sure to check with your insurer about any possible riders that you can purchase. Listed below are a few popular add-ons:

Cover for Accessories	Most insurance policies will not offer you a cover for any accessories that you may have additionally purchased for your vehicle. However, if the accessories are very expensive, you can choose to purchase an add-on cover just for the accessories.
Zero Depreciation Cover	Insurers will usually settle your claims after taking the depreciation of the vehicle into account. This will result in you getting a lower amount than what you may have expected. In order to avoid this, you can purchase a Zero Depreciation Cover. With this add-on, your insurer will settle your claim without taking into account the depreciation factor.
Medical Cover	A road accident may cause major injuries to the bike rider. A medical cover will come in handy in such situations. Medical expenses incurred on treating such injuries will be covered by this add-on.
Personal Accident Cover for Pillion Rider	If you wish to extend the personal accident cover to the pillion rider, you can purchase this add-on from your insurance provider.
Engine Protection Cover	This is an add-on that offers financial protection for damages caused to the engine of the bike. Any damage caused, from water entering the engine to leakage of the lubricating oil, is covered under the policy.
Roadside Assistance Cover	With this add-on, if your vehicle breaks down or undergoes mechanical failure while you are riding, you can contact your insurance provider and request for assistance. Motor insurance companies usually provide towing services, on-site repairs, flat tyre replacement services, lost keys assistance, etc., to policyholders with this add-on.
Cashless Hospitalisation	Certain insurance providers offer a cashless hospitalisation cover to the policy buyer. With this rider, the policyholder can avail treatment at a network hospital without incurring significant out-of-pocket expenses.

These optional covers are not mandatory but if you wish to enhance your policy with any of the above-mentioned add-ons, you can buy them for an additional premium from your motor insurance provider. You should, however, keep in mind that not all insurance companies offer the above-mentioned riders. Thus, make sure to assess your coverage needs and opt for the riders that you require.

If you are a two-wheeler owner, it is likely that you have purchased a bike insurance policy for your vehicle. Two-wheeler owners can purchase either third-party liability two wheeler insurance policies or comprehensive two wheeler insurance policies for their vehicles. Most individuals who require enhanced coverage opt for a comprehensive two wheeler insurance policy.

A comprehensive two wheeler insurance policy, like the name suggests, provides significant coverage to the vehicle owner against a number of risks including accidental damage to the vehicle, theft of the two-wheeler, third-party liability, etc. That being said, even a comprehensive two wheeler insurance policy has certain limitations.

For example, if your two-wheeler gets stolen and the insurance company approves your claim, you will not receive the full purchase price of the vehicle as the claim settlement. What you will receive, instead, is a certain sum of money that has been adjusted for depreciation. Thus, with a comprehensive two wheeler insurance policy alone, you will receive no more than the vehicle’s Insured Declared Value or IDV, which is based on the current market value of your vehicle.

In order to remedy this, motor insurance providers offer policy buyers the option to purchase a Return to Invoice Cover along with their policy. Thus, if you have the Return to Invoice Cover and you meet with an accident that is classified as a total loss by the insurer, the insurer will pay you the full invoice price of your two-wheeler.

One thing to keep in mind is that the Return to Invoice Cover is not offered to all two wheeler insurance policy buyers. Insurance companies offer this add-on to policy buyers who have new or relatively new bikes. Thus, if your vehicle is many years old, you might not be offered the Return to Invoice Cover since the effects of depreciation can no longer be ignored by the insurance company, at this point.

What is Included under the Return to Invoice Cover?

The Return to Invoice Cover will provide you with coverage against the following events:

• Accidents that are classified as a total loss or a constructive total loss (CTL)
• Theft of the vehicle
• Loss of the vehicle

*Note: Inclusions might vary based on the insurer’s terms and conditions.

What is not Covered under the Return to Invoice Cover

The following instances/events are usually not covered by the Return to Invoice Cover:

• If the total loss/theft claim is not admissible under the policy’s coverage, the policy buyer will not receive a claim settlement based on the Return to Invoice cover alone.
• In case of theft claims, certain insurance providers will not accept the claim unless a final investigation report is submitted to them.
• The Return to Invoice Cover can also not be used to make two wheeler insurance claims for small accidents and minimal damages. This add-on is only useful in the event of a complete loss or vehicle theft.
• In most cases, vehicles that are over 3 years will not be covered by the Return to Invoice Cover.

*Note: The exclusions might vary based on the insurer’s terms and conditions.

Who should opt for a Return to Invoice Cover

• Individuals with brand new vehicles or vehicles under 3 years can opt for the Return to Invoice Cover.
• Individuals who reside in unsafe or theft-prone areas can also opt for this add-on.
• Anybody who doesn’t have a secure parking facility for their two-wheeler should opt for the Return to Invoice Cover.
• Those with expensive bikes or sports bikes should opt for the Return to Invoice Cover for additional coverage.

Things to Remember

As a policy buyer, it is extremely easy to purchase this cover since most two wheeler insurance companies in India offer this add-on to policy buyers who purchase policies directly through the insurer’s office and to those who purchase bike insurance online. Even in case of two wheeler insurance renewal, you can opt for the add-ons that you wish to purchase while renewing the policy. In conclusion, the Return to Invoice Cover is a smart option if you wish to secure complete protection for your two-wheeler.

The Zero Depreciation Cover, which is also known as Bumper-to-Bumper Cover, is a popular add-on choice among vehicle owners. Most insurance companies offer this cover in the form of an add-on, and not a separate insurance policy. While a comprehensive two wheeler insurance policy offers an exhaustive coverage, it, too, comes with certain exclusions. Insurers take depreciation charges into account before paying a settlement under comprehensive insurance policies. All these factors might cause you to bear a portion of the expenses on your own.

However, with a zero depreciation or bumper-to-bumper bike insurance cover, your insurer will pay you the claim settlement without taking the depreciation factor into account. While purchasing a zero depreciation cover might increase your premium slightly, it is a worthy investment as it guarantees complete peace of mind to the policyholder. Such a cover is especially important if you are purchasing a brand new or very high-end vehicle.

When can you Avail Zero Depreciation Cover?

When purchasing the base two wheeler insurance policy, policy applicants can choose to avail the zero depreciation add-on cover. The zero depreciation add-cover can also be purchased at the time of renewal of the policy. Listed below are the conditions of a zero depreciation add-on cover:

• While this differs from one insurer to another, the zero depreciation cover can be availed if the vehicle is up to or less than 2 years old.
• Policyholders with the zero depreciation cover can avail coverage for the damaged glass, plastic and other consumable parts.
• In the case of most insurers, the claim amount that a policyholder can avail is between 0%-40% depending on the Insured Declared Value (IDV) or the depreciation factor and age of the vehicle. However, with this cover, policyholders can avail the full claim amount.
• In the case of most insurers, policyholders are allowed to make 2 zero depreciation claims during the tenure of the policy. In the case of the multi-year two wheeler insurance policy, in most cases, policyholders are limited to just 1 claim a year.
• The zero depreciation cover is only for select two-wheelers.
• The zero depreciation cover is not applicable in cases such as mechanical breakdown of the vehicle or to cover the basic wear and tear of the vehicle.
• Since the zero depreciation add-on cover has to be purchased over and above the premium of the base policy and usually costs 20% of the premium amount of the base policy, this sort of a cover is advantageous for those riding high-end bikes which comes with expensive parts or if the policyholder rides the vehicle through an accident-prone area.

Features and Benefits of a Zero Depreciation Cover

If you have purchased the zero depreciation cover, your insurer won't take the depreciation of your vehicle into account. This is one of the main benefits of this add-on since the more a vehicle depreciates in value, the lesser you will receive as your two-wheeler claim settlement.

Without a zero depreciation cover, your insurer will only pay you the claim amount after considering the depreciation factor. Hence, based on how much your vehicle has depreciated over the years, you might have to incur a significant amount of out-of-pocket expenses.

Thus, a zero depreciation cover adds more coverage and protection to your basic plan and makes your policy more inclusive.

• This add-on can be purchased when buying a two wheeler insurance policy for the first time or when renewing your existing two wheeler insurance policy.
• The zero depreciation add-on covers plastic parts, rubber, nylon, and fiberglass components.
• The standard depreciation percentage for two-wheelers ranges between 0% and 40%. This will be taken into account by the insurer before paying out your settlement. However, with a zero depreciation cover, the policyholder can claim the original invoice amount, excluding the deductible.
• This add-on can only be purchased for new two-wheelers or two-wheelers under 2 years. Further, certain motor insurance companies might only allow you to purchase this add-on for select vehicle models.
• Insurance companies might have a limit on the number of claims that you can make per year.
• The cover cannot be purchased for older vehicles.
• Normal wear-and-tear, damage caused due to mechanical breakdowns, and events that are not included under the coverage.
• Uninsured items such as the bi-fuel kit, gas kits, and tyres are also not covered under the zero depreciation add-on.

Policy buyers will have to purchase the zero depreciation add-on cover for an additional premium over and above the premium of the base policy. This add-on is, thus, advantageous for those riding high-end bikes that come with expensive parts or brand new two-wheelers.

For most people, purchasing a new vehicle is not just a matter of convenience. The vehicle is also purchased to reflect a part of their personality, and hence one may choose to purchase expensive accessories to enhance the functionality and appearance of the vehicle. The value of different accessories will vary, and it is imperative that you calculate the value of your accessories so you can have them insured and file a claim, when needed.

Two wheeler accessories are especially prone to theft, since detaching them and selling them off is quite easy for thieves. Most motor insurance providers in India have add-on covers that will safeguard two-wheeler accessories. However, you will first need to calculate the value of your accessories. You can do this digitally through valuation websites, by finding the current market value of the same accessories, or by talking to auto dealers and accessory dealers.

After you arrive at the value of your accessories, you will need to take depreciation into account. Next, you can up the individual value of each accessory to arrive at the total value. Post this, you can contact your insurer and purchase an add-on accessories cover for a particular amount that will provide good coverage to your vehicle accessories even if they are damaged or stolen. If you already have an accessories cover for an amount that's much lesser than the one you just calculated, make sure to contact your insurer and have an endorsement made.

It mandatory for all two wheeler owners to purchase at least a third-party liability insurance policy, as per Indian law. If you happen to meet with an accident on the road or if your vehicle is lost or stolen, your insurance policy can protect you financially. The policy will also provide the third-party a compensation for any injury caused to them or damage caused to their property/assets. Hence, if you do meet with an accident and are not able to furnish a valid bike insurance policy to the traffic police, you may be penalized or punished.

While the nature and type of penalization may vary based on a few factors, you might have to face one or more of the punishments listed below:

• Suspension of your licence
• A fine of Rs.1,000 may be levied
• Imprisonment for a period of 3 months
• The registration of your vehicle may also get suspended

Hence, it is imperative that you carry a valid bike insurance policy with you at all times.

If you are purchasing a two wheeler insurance policy for the first time, the number of choices, customisation options, industry jargons, etc. can make the task of purchasing a two wheeler insurance policy for your vehicle seem daunting. Thus, we have created a 10-point guide to help you pick the best two wheeler insurance policy if you are a first-time motor insurance buyer:

• Get the Right Type of Policy: Policy buyers can either opt for a third-party liability-only insurance policy or a comprehensive two wheeler insurance policy. The Motor Vehicles Act, 1988 makes it mandatory for all vehicle owners to have a third-party insurance cover, although one can choose the comprehensive two wheeler insurance policy if one desires higher coverage. Third-party liability insurance covers provide coverage against third-party legal liability and also provide a personal accident cover to the policyholder. In comparison, comprehensive bike insurance policies provide coverage against vehicle damages/accidents/total loss caused due to man-made/natural calamities and third-party legal liability, in addition to providing a personal accident cover to the policyholder. Thus, you should assess your coverage needs and then pick the right type of two wheeler insurance policy.
• Compare Policies: As a first-time policy buyer, it is necessary to not purchase the first insurance cover that is offered to you by your automobile dealer. You should, in fact, do your own research and compare the features and benefits of a few two wheeler insurance policies before picking one policy.
• Check Premium Rates: Along with comparing the features of various two wheeler insurance policies, you should also request for premium quotes to get an idea of what is charged for a policy that meets your coverage needs. To check the premium rates, you can either visit the official websites of various motor insurance companies and request for the premium quote or view the premiums for various policies via a trusted third-party insurance comparison website.
• Read the Fine Print: Before you select a two wheeler insurance policy for your vehicle, it is necessary for you to read through the policy brochure and the terms and conditions of the policy. Doing so will help you familiarise yourself with the inclusions and exclusions of the policy and any other conditions that you may need to be aware of.
• Know the Insurer’s Claim Settlement Procedure: A two wheeler insurance policy is meant to provide a cover against financial risks that might arise in case of an untimely event. Thus, in the event of an accident, vehicular damage, theft, etc., you will need to raise a claim with your motor insurance company. To ensure that you have a seamless claim settlement process, it is necessary to be completely aware of the insurer’s claim settlement procedure and the documents that you will need to submit to raise a claim. Given how important the claim settlement process is, it is recommended that you familiarise yourself with the same before purchasing the policy.
• Look out for Bonuses and Discounts: When purchasing a two wheeler insurance policy, it is necessary to check if the insurance company provides any discounts or bonuses. It is also important to know of the bonuses/discounts that you will be eligible to receive in the future. For example, motor insurance companies offer a No Claim Bonus to policyholders who don’t raise any claims during the policy year.
• Know your Vehicle’s IDV: Many policy buyers assume that in the event of a total loss, they will receive the complete market value of the two-wheeler as the claim settlement amount from the insurance company. Insurance companies, in fact, will pay you the vehicle’s Insured Declared Value or IDV, at the most. The IDV is determined on the basis of the motorcycle manufacturer’s listed selling price for the two-wheeler at the time of purchasing/renewing the two wheeler insurance policy and adjusting this amount for depreciation. The depreciation percentage to determine the IDV of a two-wheeler is pre-specified for the first five years. After five years, the depreciation rate for the two-wheeler will be mutually agreed upon by the vehicle owner and the insurance company. Thus, it becomes extremely important for you to be aware of your two-wheeler’s IDV to know how much you can expect to receive as the claim settlement from the insurance company.
• Customize your Policy: two wheeler insurance companies give policy buyers the option of purchasing add-ons along with their base policy. Some of the add-ons that you can purchase along with your base two wheeler insurance policy are the Zero Depreciation Cover, Personal Accident Cover for Co-Passengers, etc. Make sure to check if you need an enhanced coverage and opt for riders that are offered by the insurance company accordingly.
• Periodically Evaluate your Insurance Policy: Your coverage needs and premium payment ability might change over time. Thus, it is necessary for you to periodically evaluate your two wheeler insurance policy and check if it is still meeting your needs. Thus, for example, if you only have a third-party liability insurance cover and feel like you need an own damage insurance cover as well, you can opt for a comprehensive two wheeler insurance policy.
• Know your Insurer’s Customer Care Channels: In case of an untimely event, it is necessary for you to immediately inform the motor insurance company about the same. In fact, many two wheeler insurance providers specify timelines within which the policyholder must inform them of the incident to commence the claim process. Thus, make sure to check the various channels through which you can contact your insurance company and keep it handy while riding your two-wheeler.

Make sure to refer to the tips mentioned above to ensure that purchasing a two wheeler insurance policy for your new vehicle is a simple and hassle-free process. As a prospective policy buyer, you can purchase a bike insurance policy of your choice through the official websites of insurance companies, trusted third-party websites that sell insurance policies, or by directly visiting the insurance provider’s office.

• Level of Coverage: Before purchasing an 2 wheeler insurance policy, you will have to decide on the optimum level of coverage for you. You will have to select your coverage type - third-party liability-only insurance policy or a comprehensive insurance policy. Both offer a different type of coverage, with comprehensive insurance policies being the more exhaustive of the two. You will also have to opt for your sum insured. To work out an optimum sum insured, make sure to consider your premium-payment ability, monthly budget and expenses, future liabilities, and the frequency of your two-wheeler usage.
• Cubic Capacity of the Vehicle: Your premiums will be directly tied to the cubic capacity of your bike. A higher cubic capacity will result in a higher premium, and vice versa.
• Discounts and Bonus: Several insurers offer customers discounts and bonuses on their premium. You may be entitled to receive a bonus for every claim-free year or a discount for choosing a long-term policy. Ensure you clarify these with your insurer or the agent.
• Add-On Covers: Most insurers offer customers the option of purchasing add-on covers, such as a Zero Depreciation Cover, Personal Accident Cover, etc. While these add-on covers make a worthy investment, they will also increase your premium amount.

• Claim Settlement Ratio and Customer Service: Before purchasing your preferred insurance policy, ensure you check the claim settlement ratio (CSR) of the insurer. A high CSR is desirable, since it indicates how willing the insurer is to settle the claims. Similarly, look into the insurer's customer service channels. It is vital that you are able to contact the insurer if the need arises, in a hassle-free manner. Thus, it is imperative the insurer is easily reachable at all times.

• Network Garages: Your insurer will have tie-ups with certain garages in the city. Since these network garages offer you cashless facility, it is necessary that you find out just how large your insurer's network is. The more network garages the insurer has, the better will your choice be. It also ensures that in times of emergency, you don't have to travel too long to get to a network garage. Your insurer will give you a list of network garages while purchasing the policy. You can also view this information on the insurer's official website.

• Policy Tenure: Insurers offer bike insurance with policy tenures of 1, 2, and 3 years. It is often more beneficial to purchase a long-term insurance policy than a short-term policy. Consider your needs and check out the various policy tenure options offered by your insurer.

• List of Exclusions: Your policy will come with a brochure that details a list of exclusions. Ensure you are aware of the exclusions, so you can be prepared for any eventuality.

• Compare between Policies and Premiums: Insurers offer various plans with varying coverage levels and premiums. Ensure you compare plans of at least a few top insurers before purchasing a policy, so you can get the best deal.

Prospective policy buyers can choose to buy their choice of bike insurance through online or offline channels. Listed below are the various means through which you can apply and purchase a policy

Insurance companies usually set the premiums for two wheeler insurance policies based on various factors. However, the premium rates for third-party liability-only insurance policies are set by the IRDAI directly. The insurance company is likely to assess the rider's demographics, such as his/her age, profession, gender, years of riding experience, credit score, etc. Further, details of the vehicle are also taken into account. Your coverage type and inclusion of add-on covers will also play a major role in determining your premium rate. You may also be eligible for discounts or bonus, which will affect your overall premium.

In motor insurance, while the majority of the claim amount is settled by the insurance company, a portion of this amount might have to be borne by the policyholder due to the deductible clause in the two wheeler insurance policy. The deductible, also known as excess, is a certain predetermined amount that will have to be paid by the policyholder when the concerned individual is raising a claim. Deductibles can be of two types – voluntary and compulsory. Read on to know more about the difference between the two types of deductibles.

When should you opt for a Voluntary Deductible?

Policyholders who are looking to save money on premiums or are extremely confident of their riding skills can opt for a voluntary deductible when purchasing a two wheeler insurance policy. Individuals who very rarely use their two-wheelers can also opt for a voluntary deductible since this will help them secure a lower premium payment. However, you should only opt for a voluntary deductible if you are sure that you will be able to bear your share of the expenses in the event of a claim.

Given that you might need to raise a claim with your bike insurance company at the most unexpected of times, you will need to ensure that you always have the sufficient funds in hand since the insurance company will only be paying the claim amount minus the compulsory and voluntary deductible amount. Thus, when purchasing a bike insurance policy or when renewing your two wheeler insurance policy, make sure to assess your budget, premium payment capacity, past claim history,riding skills, and then choose an adequate voluntary deductible, accordingly, if you wish to.

Associations like the Western India Automobile Association and the Automobile Association of India are registered under the Insurance Regulatory and Development Authority of India (IRDAI), and are promoted by the Motor Vehicles Act. Most insurers offer members of these associations a discount on their own-damage premium, up to a certain limit. For example, United India Insurance Company offers a 5% discount on the Own-Damage premium to bike owners who are part of the Automobile Association of India.

The third-party insurance rate for two-wheelers with cubic capacity lesser than 75cc has not been raised for the current financial year. The new third-party insurance rates do not apply to individuals who purchased a long-term policy cover (for a duration of 2 or 3 years) before the new rates came into effect.

The Insurance Regulatory and Development Authority in India (IRDAI) has made it mandatory for insurers to conduct vehicle inspections before issuing new policies or renewing existing ones. Since most people find this to be a hassle, they simply don't renew their policy despite motor insurance being mandatory. However, if you to purchase a new policy or renew your policy without getting your vehicle inspected, you can simply purchase the policy online. For two wheeler insurance policies that are purchased online, vehicle inspection can be waived off by the insurer.

Several insurers have started to issue insurance policies online. Customers, too, prefer to purchase policies online, since the paperwork is minimal, the process is hassle-free, and no middlemen are involved. Further, premium payments can also be done online. There is absolutely no need to go to the insurer's branch to have your pay your due premiums. However, before you purchase your bike insurance policy online, you must ensure you read the policy document, and the terms and conditions, in particular.

Before you purchase a two wheeler insurance policy, it is vital that you get a quote from the insurer and compare the premiums offered by at least a few insurers in your city.Calculating the premium is an extremely easy process. You can choose to calculate the premium through the insurer's official website or through certain third-party websites.

In order to calculate your premium, you will need to visit the concerned website, enter a few details about your vehicle, such as the year of manufacture, the vehicle type, model, make, etc., your vehicle's registration number, select the type of policy you require, and choose your city of residence. You will then receive an insurance quote for the policy tenure of your choice.

Online bike insurance or two wheeler insurance calculator is a very easy accessible tool that is available freely online. But many are unaware of it because they want to stick to the traditional method of contacting the insurer or an agent or any middlemen to get them a two wheeler insurance. But those days are gone and there is no requirement of any third-person to complete this process.

The online two wheeler insurance or bike insurance premium calculator allows you to compare various insurers and the offered plan and the rates. You just have to insert some basic values into the tool to be able to fetch you the premium amount that you are liable to pay either for a new bike or to renew the old policy. You can choose the best policy with the help of this tool. Not only is it free of cost and helps you make better decision, it also saves you money that you pay for the agents as commission to get you the best deal. Buy purchasing insurance online, the insurer offers you better deals and discount on two wheeler insurance plans because it saves the distribution cost that they usually pay for the agents on getting them a customer.

Two wheeler insurance premium calculation:

The final premium amount calculation = Own damage premium amount + optional add-on covers+ third-party cover + Personal accident cover - no-claim bonus (if applicable)

Benefits of Bike Insurance Calculator:

For those who wish to use the two wheeler insurance calculator before purchasing a policy, listed below are some of the benefits of the tool:

• The two-wheeler online insurance premium calculator is free of cost.
• By using the two-wheeler online insurance premium calculator, customers can plan their finances in advance. Customers can choose the policy that they wish and know the cost of add-on covers over the price of the premium of the base policy.
• With the two-wheeler online insurance premium calculator, there are no hidden costs, and customers can set aside an approximate of how much the policy would cost them.
• The two-wheeler online premium insurance calculator brings about awareness of the cost of the premiums, so that policy applicants do not get ripped off by an insurance agent with regard to the premium price of the policy.
• Using this tool, customers can compare the premium price offered by different insurers.
• Customers can choose the right policy which suits their financial situation.

Two Wheeler Insurance Policies have to be linked to Aadhaar And PAN

AADHAAR and PAN are two documents which are essential for many document and financial services like getting a Driver's License, Voter ID, bank accounts and even insurance policies. So to obtain any document or financial service providing a copy of AADHAR is mandatory. The IRDAI has regulated to all insurers that every insurance policy, has to be linked to AADHAR, PAN or Form 60 compulsorily. The IRDAI has introduced this mover under Prevention of Money Laundering Act (Maintenance of Records) Rules. AADHAAR, PAN or Form 60 are necessary documents to avail any insurance related services. Form 60 can be submitted by people who do not own PAN card. By linking the KYC details to the insurance policy, fraudulent activities and false claims by impostor with duplicate policy information can be controlled and the claim settlement process will be easy. Policyholders who own two wheeler insurance, should link AADHAAR to their policies before March 31st, 2018. The IRDAI has also regulated that no valid two wheeler insurance policy claim shall be processed until AADHAAR, PAN or Form 60 details are produced by the policyholder. This in no way means, that the policy will be cancelled, it will just become void until the details are produced. The two wheeler insurance claims will be temporarily suspended if the policy is not linked with the AADHAAR details. To prevent any suspension of your two wheeler insurance claims, link your AADHAAR and PAN today. Note: The above information has been taken from the IRDAI notification.

Things Bikers should Know About when Purchasing Two Wheeler Insurance

5 Common mistakes to avoid while purchasing a Two Wheeler Insurance Thinking of buying a two wheeler insurance? Then you should probably know the basics of two wheeler insurance. It is difficult for the first time buyers to entirely understand the working model of two wheeler insurance other than the fact that it insures your vehicle and you can avoid fines. The study says that most of the bike insurance owners do not claim insurance as the repair costs are beared by the owners up to a certain limit. But having a 2 wheeler insurance is a lot more than what it seems and the benefits of it are also huge. There are basically two-types of two wheeler insurance you can purchase: Third party liability policy and comprehensive policy. A third-party liability only policy like the name suggests, protects only the damages and injuries caused to the third-party person or property. A comprehensive plan on the other hand provides complete protection to the bike and you against accidents, natural calamities, third-party liabilities, own damage, personal accident protection, man-made calamities like terrorist attacks, civil protests, riots, etc. having a comprehensive policy is like having a medical insurance as it provides accident cover as well. On comprehensive policy there are a few add-on covers which are optional for the customer if he/she wants to buy. The optional covers available are zero depreciation cover, roadside assistance cover, anti-theft cover, no-claim bonus cover, return to invoice cover, personal accident cover, pillion rider cover, engine protection cover and key-replacement cover. The premium for comprehensive policy is higher than the third-party policy because of the cover capacity. The premium for your two-wheeler depends upon the cubic capacity and other factors like registration city, city of residence, age of the vehicle, manufacturer, make and model, IDV, and so on. So now that you have a basic idea of what a two wheeler insurance is capable of providing, here are few things you should avoid, if you are a first time bike insurance purchaser: Do a thorough research about two wheeler insurance online to have enough knowledge so that you will not be fooled by the insurance agent. If you are a first time buyer, chances are that you might be overwhelmed with the information and would be easily confused as to which one to buy and from whom. If you are contacting an agent, do not fall for his/her flowery words on how beneficial a certain company's insurance policy is. Any basic insurance policy provides you the same amount of insurance coverage. So researching online will allow you to compare policies, plans, discounts available, and other benefits in much simpler form. You can also purchase bike insurance online on any trusted third-party website or on the insurer's website. If a certain insurer is offering the two wheeler insurance policy for a much cheaper rate, do not think that it is the best option for you to save money on insurance premium. Seldom is it seen that the cheaper insurance never provides you adequate or standard insurance coverage that it should provide. The cost should not be your only concern while buying a two wheeler insurance. There are affordable 2 wheeler insurance policies that can be tailored according to your needs. So never buy insurance policy that is cheaper and provides no benefits. It is often seen that customers do not read the document carefully before signing. Just filling in the details and submitting necessary documents to purchase a two wheeler insurance is not right. Knowing what the insurance covers, how to claim, what is excluded, what is the term of the policy, etc. is important for the future ongoing. It is mandatory that you have to pay certain part of the claim amount called as 'voluntary deductibles'. Many individuals opt for smaller deductibles thinking it will cost smaller premium amount. But know that larger deductibles are beneficial with bigger dividends in the future. Your insurer reward you with no-claim bonus for every claim free year. No-claim bonus can be availed from 20% to 50% and will be valid up to 5 years. You can opt to utilise the percentage on your annual renewal or you can choose it to carry forward to next year. So ignoring no-claim bonus while you renew will cost you higher premium amount. Avoid these 5 common mistakes that everyone tends to make. It will save you from paying higher premium.

IRDAI Directs to Insurers-Third-Party Motor Insurance to be Made Easily Available to Customers

The Insurance Regulatory Development and Authority of India (IRDAI) has directed all the insurance companies to make sure that the third-party motor insurance, that is two wheeler insurance or car insurance or commercial vehicle insurance, to be easily available and affordable to all. Earlier, the Supreme Court Committee of Road Safety department had passed an order to the State and Union Territories to periodically conduct inspections and random checkings to know if all the vehicles running in that particular city had two wheeler insurance or other types of valid motor insurance as per the vehicle requirement. It had also mandated that, if not a complete protection cover, every two wheeler or vehicle owner had to have third-party liability cover, else the vehicle can be seized until the owner gets a third-party cover. Since the number of insured vehicles were low, the IRDAI has now directed all insurers to cooperate with the traffic police officials to issue or renew the third-party two wheeler or motor insurance cover to the vehicle owners who do not have one. The IRDAI is taking steps to make sure that the number of uninsured vehicle will decrease by 2020 as currently more than 50% of the vehicles are uninsured. The majority in the uninsured vehicle percentage is contributed by two wheelers. This order was passed by the IRDAI as several state transport officials reported that the issuance or renewal of motor insurance was a tedious process which includes inspections, long documentations, etc. Likewise, the customers also reported that the process of getting the two wheeler insurance or any other motor insurance was a cumbersome process. The IRDAI however raises the two wheeler or motor insurance premium annually and if the policy holder chooses for long-term two wheeler insurance or any other motor insurance, then they can avoid this hike for three years. Under this order, no insurer can deny providing third-party insurance to the vehicle owners. Note: The above information has been taken from the IRDAI notification.

The Intelligent Way to Buy two wheeler insurance Policy

Even though the fuel prices are increasing every day, it does not stop people from buying two-wheelers. Undoubtedly, no other vehicle can match up to the convenience and the affordability of a two-wheeler. Traveling anywhere is easier, and if you have a premium range bike, cruiser or a sports bike, then road trips are much frequent than one expects it to be. While traveling anywhere be it on city roads or highways, accidents, mishaps, and mechanical breakdown of the vehicle are unavoidable. It’s not that we wish for it, but these are unfortunate. If you are traveling on a city road, then the driving is risky as roads are usually jammed, have numerous potholes, and traffic violations, etc. and driving on a rainy day is no cake walk either. Hence, securing your bike with a proper two wheeler insurance is very important. A two wheeler insurance is a legal enforcement as per the law of the Motor Vehicles Act, 1988. The third-party liability policy is the minimum required coverage according to the said act. The premium rates for this policy is set by the IRDAI and every year the rate is revised. However, a comprehensive policy is what one should ideally buy to protect their vehicle from damages caused by accidents, third-party, theft, total loss or damage, terrorist attacks, earthquakes, riots, protests, lightning, hailstorm, etc. The premium for this policy is higher than the third-party policy. Now, since the market is flooded with insurance companies, it is easy to get confused when you go out to purchase a two wheeler insurance policy. The purpose of buying a two wheeler insurance policy should not be just to save yourself from penalty. Hence, you should understand the benefits and advantages of having a bike insurance policy. To help you do this, you can research for the best policy online and have a knowledge about the offers and discounts offered by various insurers so you could make the right choice. However, if you opt to buy insurance policy offline, you can buy through agents, brokers, etc. so it may be possible that you would be misguided. Hence, here are few tips to shop for two wheeler insurance wisely: Know the type of coverage you want: If you are purchasing offline, to increase commission from the company, agents may mislead you with a two wheeler insurance cover that may not be required for your vehicle. So be specific about the type of coverage you want and mention the same to the agent. However, if you are purchasing online through the insurer’s website, the process is very easy and simple. Not only does it save your time but also on the insurer’s website, you can easily know the inclusions and exclusions from the policy along with discounts and facilities offered by the insurer. This way you are saving the commission amount that you may have to pay to either the broker or an agent. You can buy the policy depending on your need and affordability by choosing between a third-party liability cover and comprehensive cover. Premium amount: Nowadays, with the help of digital technology, insurers have provided the benefit of calculating your premium through an online tool called ‘Bike Insurance Premium Calculator’. You have to input few values like manufacturer of the bike, model, Insured Declared Value, age of the vehicle, policy details, number of claims (if any), owner details, etc. On submission of the details, the tool will calculate the actual premium amount that you have to pay. Once you know the amount of premium payable, you can negotiate with the insurer if you are renewing with the same insurer or you can negotiate for discounts and a better deal if you are switching or purchasing a new two wheeler insurance policy. Therefore, before you pay the premium on the bike policy, it is important to research a little so that you do not end up paying a higher premium for a low cover policy. Unnecessary add-ons: If you have purchased a comprehensive two wheeler insurance policy, then the insurer must have informed you about the add-on covers that are available which can extend the policy coverage. Buying add-on cover for the bike/scooter you own is simply waste of money if you do not require it. The expenses that may arise for a bike that costs above Rs.1 lakh is higher than a scooter or a bike within 100cc segment. The repair expense for the vehicle, if it was a part of any mishap, will vary from each model. An add-on option like key replacement or engine cover, may not be required for your bike as the repair cost, if any, may not be that expensive. So even if the insurer tries to convince you that it will be beneficial for you in the future. you should buy only the add-on options that you feel is necessary and affordable. Agreement policy: It is a normal tendency to just flip the pages and sign the document in a rush, especially in insurance policies, rental agreements, etc. Any type of insurance is an agreement between the insurer and the buyer where the insurer agrees to provide certain facilities and in return, the buyer agrees to pay certain amount for that facility. In an insurance contract, we often read only what it covers, and skip the part of exclusions, which is most crucial. Hence, read and understand the clauses carefully on exclusion and claim process and for what type of damages can you claim and the clauses applicable to it. This will help you avoid making a claim that is not covered under the policy. The renewal terms and conditions, policy cancellation, etc. you should be aware of everything so that there is no confusion in the future. Purchase the insurance online: There is no other medium as transparent as online. Every information can be searched on any search engine or on insurer’s website to clear our doubts about a two wheeler insurance policy. Online medium will directly connect you with the insurer eliminating the middleman. You can compare policy benefits and discounts offered by various insurers and choose the best with. There will be very minimal or no paperwork since all the documents are processed digitally. The payment can be done through UPI, net banking, and debit/credit cards. You will receive the documents within a day via email. There is a fierce competition amongst the insurers to increase their business. Ever since the GST, the tax on insurance has been increased to 18% from 15% which has affected the business of the insurers. In the same interest, the insurers offer discount and benefits to attract the customer to buy a two wheeler insurance policy. The insurers also have tie-ups with vehicle showrooms, which provides them direct business. Therefore, it is important to research and compare online to buy the best two wheeler insurance policy.

How to Check if your two wheeler insurance Policy is Fake

If you have a two-wheeler, it is absolutely necessary to purchase a two wheeler insurance policy for the vehicle and renew it within the specified due date, given that the policy can provide you with financial coverage against a number of untimely events including accidents, theft of the vehicle, etc. But you will only be able to enjoy and utilise the benefits of your two wheeler insurance policy if it is a genuine policy that is issued by a registered insurance company. However, this is easier said than done. The number of fraud cases in the insurance industry has increased in the recent past, and the issuance of fake motor insurance policies makes up for a good number of these cases. Thus, we have listed down a few tips to help you avoid purchasing a fake two wheeler insurance policy and to help you check if your existing insurance policy is genuine. Check the two wheeler insurance company’s reliability: Before you purchase a two wheeler insurance policy from an insurance company, make sure to check how reliable the company is. You should first check if the insurance firm is registered with the Insurance Regulatory and Development Authority of India (IRDAI). Further, you should also check online reviews of the two wheeler insurance company, the incurred claim ratio, etc. Buy your bike insurance policy through a reliable channel: A simple way to ensure that you are purchasing a genuine two wheeler insurance policy is to directly purchase it from the insurance company or to purchase it from a reliable third-party insurance company. Beware of usually low premiums: If you find a two wheeler insurance policy that is being offered at an unusually low premium rate, you should do thorough research about the policy and the insurance company that you are purchasing the policy from. An extremely low premium could mean that the coverage offered by the policy is also low. Therefore, the premium rate should only be one of the many factors that you consider when purchasing a policy. Make sure to not compromise on the coverage offered by the policy just to secure a low premium. Sign the cover note/proposal form yourself: When purchasing a bike insurance policy, you should make sure to verify the details on the proposal form and sign the form yourself to avoid any problems or discrepancies during the policy tenure. Pay your premium through secure channels: You, as a policy buyer, can choose to pay your premiums through online or offline channels. That being said, whenever possible, you should try to pay your premium online since it is more secure. If you want to pay the premium amount through offline channels, you should try to avoid paying in cash. In such cases, it is always best to pay the premium via cheque or DD. Also, after you pay the premium, make sure to ask for a receipt for the same. Contact the insurance company: One of the easiest ways to check if your policy is genuine is by contacting the insurer. All the customer care channels through which you can reach the insurer will be mentioned in your policy document or on the company’s official website. Thus, you can either call your insurance provider on the toll-free contact number or send an email. You can also choose to walk into the nearest branch of the insurance company and speak to a representative about the same. Scan the QR code on your policy: The Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for all insurance companies to print a QR code on the policy document. You can scan this QR code on your policy document to verify the existence of the policy. Also, when purchasing your policy, make sure to check if the policy document has the QR code since the insurance regulator has made it mandatory for all insurance policies that are sold after December 2015 to have this code. In conclusion, following the above-mentioned steps will help you purchase a genuine policy that will provide you with the required coverage throughout the policy tenure.

IRDAI to allow unbundling of compulsory personal accident cover in motor policies from January 1

If you flash your memory back to October, then you would remember that various two-wheelers and car owners faced a lot of problems as they saw an increase in the cost of vehicle ownership due to a ruling passed by the Insurance Regulatory and Development Authority of India (IRDAI). The IRDAI had increased the personal accident coverage from Rs.1 lakh to Rs.15 lakh which saw a major increase in the cost of vehicle ownership. However, there is some good news for the two-wheelers and car owners as IRDAI has announced the unbundling of compulsory personal accident covers and permitted the issuance of standalone policies from January 1 which means that there will be a significant drop in the cost of vehicle ownership as the new year commences. If you were a policyholder, you would have to pay Rs.750 per annum for both car and two-wheeler insurance policy. Now you will be paying only Rs.750 if you have a standalone cover. 1 January will see bundles compulsory personal accident cover getting expired and instead of being replaced with standalone policies. This means that if you have a 24-hour personal accident cover which provides you cover against death and permanent disability for a coverage of Rs.15 lakh, then you do not require to take a separate compulsory personal accident cover. The insurance companies will now have to come up with personal compulsory personal accident cover of Rs.15 lakh which will be available to all kinds of customers. If a customer has a compulsory personal accident cover, then that person does not require to purchase another cover. A policyholder can choose to opt for a compulsory personal accident cover as a part of a package only policy or liability only policy, in today’s scenario one can continue to do so. In case if a person decides to take a standalone compulsory personal accident policy then the compulsory personal accident cover can be offered as a part of a package only policy or a liability only package. But why is IRDAI offering unbundled policies? There has been news from various quarters that various drivers already own an existing general personal accident cover which has been a reason for insurance companies to consider. Also, a driver may own more than one vehicle and as such does not need more than compulsory personal accident policy. Under the standalone compulsory personal accident policy, a driver will get coverage on all the vehicles that he/she owns. The compulsory personal accident cover will be applicable only on the vehicles are driven by the driver. Earlier IRDAI had asked the insurance companies to provide a minimum cover of Rs.15 lakh under compulsory personal accident at a premium of Rs.750per annum for annual policies for both two-wheelers and cars. IRDAI had said that the insurance company could offer covers in multiple of Rs.1 lakh and Rs.5 lakh, but the minimum coverage should be Rs.15 lakh. However, under a circular dated October 9, 2018, it is the choice of the driver to op for a one-year compulsory personal accident cover or for a long-term compulsory personal accident cover and the insurance company cannot force the drivers to go for a long-term package policy or long-term PAC policy. The insurance companies have been directed by the insurance companies to ensure that they offer the choice of a one-year compulsory personal accident cover to owner cum drivers only.

Consequences of Not Purchasing Two Wheeler Insurance

Recent studies have shown that at least 75% of two wheelers traveling on Indian roads are not insured. And few people who were interviewed by the organisations who conducted this study were cited saying that buying two wheeler insurance was waste of money, the two wheeler insurance does not benefit us, etc. It is because of lack of awareness about bike insurance, and the benefits of the same, the number of uninsured vehicles have increased. The IRDAI has recently urged both the police officials and the insurance companies to co-operate with the government to help in checking for motor insurance with every two-wheeler owner. Any two-wheeler owner who does not have a bike insurance will be fined for the same. The IRDAI has also regulated that the bikes which do not have motor insurance should immediately avail the third-party insurance with any insurer. Having two wheeler insurance is mandatory under the law. It is risky to drive 2 wheeler on Indian roads, and therefore it is necessary that every bike owner insures themselves with two-wheeler insurance. There are mainly two-kinds of two wheeler insurance: Third-party liability cover and comprehensive policy. The third-party liability cover protects only the third-party person to whom damage or injury is caused by the insured vehicle. The comprehensive policy on the other hand provides complete protection to the vehicle and the owner. There are few add-on covers like zero depreciation cover, personal accident cover, return to invoice cover, etc. which can be availed for extra premium along with comprehensive policy. Having a two wheeler insurance is no less than having a medical insurance as it provides personal accident protection to the owner. So what are the consequences you might face if you do not own a two wheeler insurance? You will be penalised by the police on a random checking for Rs. 1,000 or you could be imprisoned up to 3 months as per Motor Vehicle Act. Because driving without an insurance leaves you open for many dangerous situations. Your driving license will also be canceled for the same act. If your bike is not insured with a comprehensive two wheeler insurance policy which protects you against damages like accident, own damage, third-party liability, natural calamities, man-made calamities, etc. If you do not have this cover, the cost of repair for the damages occurred by these situations will have to be borne by you. If it is a third-party damage, the legal proceedings cost and the compensation to the third-party will also have to be borne by you. If you have a policy already and have forgotten to renew it, you will lose No claim bonus. NCB is a discount given to you in the form of reward for not claiming the insurance in that particular year. If your vehicle is uninsured for 90 days, you will lose the entire accumulated no claim bonus. And if you are looking to change the insurer, and not obtained your new insurer within these 90 days, you will lose the opportunity to transfer the NCB. If you have not renewed your policy on time, reinstating the bike insurance policy is definitely a time consuming process. On submitting an application to renew, your vehicle will be inspected by a survey inspector sent by the insurance company. The insurance company will increase the premium amount in this scenario. If the vehicle is too old or has too many repairs or damaged, the insurance company may also reject the policy. The consequences and the loss from not having an insurance is much higher than purchasing a two wheeler insurance. The premium to avail a bike insurance is very nominal ad it is fixed by the IRDAI according to the cubic capacity of the vehicle. So get your insurance today to avoid penalties and legal tangles. You can buy two wheeler insurance online through any trusted third-party websites or through the insurer's website by submitting few details of the vehicle and yours with just few clicks. It is quick and easy, time saving and money saving. Let's insure our bikes and enjoy a stress free ride.

IRDAI Issues Clarifications on the Implementation of the Compulsory Personal Accident (CPA) Cover

Following a recent Supreme Court order, the Insurance Regulatory and Development Authority of India (IRDAI) issued a circular instructing all motor insurance providers to offer long-term third-party liability insurance policies. Thus, motor insurance companies were instructed to offer 5-year third-party liability insurance policies for two-wheelers and three-year third-party liability insurance policies for four-wheelers. Insurance companies could also offer long-term package insurance policies that would offer both the third-party liability insurance cover and the own damage cover for a duration of 5/3 years, as applicable, and bundled insurance policies that would offer a 5-year/3-year third-party liability insurance cover and a 1-year own damage cover. Following this, the Madras High Court issued an order directing the IRDAI to increase the Compulsory Personal Accident (CPA) cover from Rs.1 lakh to Rs.15 lakh. In order to comply with the order of the Madras HC, the insurance regulator issued a circular instructing all motor insurance companies to increase the Compulsory Personal Accident Cover to Rs.15 lakh with an applicable premium of Rs.750 per annum. The insurance regulator has now issued certain clarifications regarding the implementation of the Compulsory Personal Accident Cover. The revised circular by the IRDAI states that motor insurance policy buyers could opt for a one-year Compulsory Personal Accident cover or a long-term CPA cover. The insurance regulator further stated that motor insurance companies should not make it mandatory for policy buyers to purchase a long-term package two wheeler insurance/car insurance policy or to buy a long-term Compulsory Personal Accident cover. Motor insurance companies have, thus, been instructed to offer policy buyers the option to purchase a one-year Compulsory Personal Accident cover.

Top 5 Accessories That All Two-Wheeler Owners Should Purchase

If you own a two-wheeler, there are certain accessories that you should purchase to make your riding experience more enjoyable and convenient. Here, we have listed the top 5 accessories that all two-wheeler owners should consider purchasing. Riding Gear: Before you start riding your two-wheeler, it is necessary to invest in riding gear to protect yourself in the event of an accident. Thus, you should make sure to purchase a helmet, riding gloves, riding jacket, boots, and riding pants, among other things. First Aid Kit: Another thing you should keep with you at all times is a first aid kit that contains a disinfectant, cotton gauze, cotton, bandages, scissors, and basic medicines. Make sure to check the expiry date of the contents of your first aid kit on a periodic basis and replace them whenever necessary. Bike Cover: To protect your two-wheeler against harsh weather conditions, it is necessary to park your two-wheeler in covered parking spots. That being said, you should also invest in a good bike cover for times when you might not be able to find a covered parking spot. Reflective Stickers: If you are someone who rides at night, make sure to purchase reflective stickers for your bike to increase the visibility of your vehicle. Crash Protectors: In the event of an accident, a crash protector will absorb the impact and, as a result, save your two-wheeler from getting scratches or dents. You can also consider purchasing a leg guard, which will prevent your legs from trapping under the two-wheeler in the event of an accident. In addition to all the above-mentioned accessories, you should also make sure to purchase a two wheeler insurance policy for coverage against financial risks that might arise in case something unfortunate happens.

Looking to Purchase Insurance for Your New Two-Wheeler? Here are the Policy Variants that You can Choose from

Following an order from the Supreme Court, the Insurance Regulatory and Development Authority of India (IRDAI) has made it mandatory for all new vehicle buyers to purchase long-term third-party liability insurance policies. In the case of two-wheelers, new vehicle buyers will have to mandatorily have a third-party liability insurance policy for a period of 5 years, while new car buyers can purchase third-party insurance policies for a three-year period. As a result, motor insurance companies are currently offering up to three types of two wheeler insurance policies to new two-wheeler buyers. Thus, if you are a new vehicle buyer, you can choose to purchase one of the below-mentioned variants of the two wheeler insurance policy: Standalone Long-Term Third-Party Liability-Only Insurance Policy: This is the most basic variant of the two wheeler insurance policy. Starting from September 1, all new two-wheeler buyers will mandatorily have to purchase a 5-year third-party liability insurance policy. This policy provides coverage against death/bodily injuries suffered by a third party and damage caused to a third party’s assets. Further, the vehicle owner is also provided a cover against death and disability. Bundled two wheeler insurance Policy: The bundled two wheeler insurance policy provides a 5-year third-party liability insurance cover and a 1-year own damage cover to new two-wheeler buyers. In this case, while the third-party liability insurance cover is provided for a longer tenure, the own damage component of the policy will have to be renewed on a yearly basis. The insurance regulator is expected to come up with guidelines regarding the renewal structure of the own damage component of the policy. Long-Term Comprehensive two wheeler insurance Policy: The long-term comprehensive two wheeler insurance policy provides a 5-year cover against both third-party liability and own vehicle damage. Thus, in addition to covering third-party legal liability, this type of policy will also cover damages to one’s own vehicle due to accidents, man-made events/natural calamities, and total loss of the vehicle. The policy also provides a personal accident cover to the policy buyer. Impact of the Long-Term Third-Party Liability-Only Insurance Policy Renewal of Old two wheeler insurance Policies: The new rule is only applicable to new vehicle buyers. Thus, individuals who purchased two wheeler insurance policies before September 1 can continue renewing their policies as per the due date specified in their respective policy documents. No Claim Bonus: The No Claim Bonus is applicable on the own damage component of the two wheeler insurance policy. Thus, if a vehicle owner purchases a standalone third-party liability insurance policy, a No Claim Bonus will not be offered to the concerned individual. For individuals who have purchased two wheeler insurance policies with an own damage component, the No Claim Bonus will be paid out after the completion of the tenure of the cover. Premium Rates: Premium rates for third-party liability insurance cover for bikes with a larger engine capacity will increase. In comparison, motor vehicles with small engines will have to pay a lower premium rate. Since the third-party liability insurance cover is also part of the bundled and comprehensive two wheeler insurance policy, the premium rates of these policies will also be affected. If you are looking to purchase a new two-wheeler, it is necessary to familiarise yourself with the new guidelines. Make sure to do your research and check what policies are available to you. You should, ideally, be aware of the premium rates, features, and benefits of various policies to ensure that you are able to make an informed choice when it comes to picking a two wheeler insurance policy for your new vehicle.

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