Two Wheeler Insurance Policy Assures:

You Stay Financially Protected

A valid two wheeler insurance policy provides you with financial coverage in case of bike theft or any damage caused by or to your vehicle.

 

You Are Legally Protected

It is mandatory to have a valid two wheeler insurance policy for your bike, scooter, sports bike, cruiser, etc. to ride them on Indian roads, so having a valid bike insurance policy keeps you legally protected.

 

You Are Protected With Personal Accident Cover

In case the policyholder meets an accident, which causes a partial or total permanent disability or dies due to an accident, the insurance company covers the insured up to the sum of Rs.15 lakh.

 

You Stay Worry-free

You can enjoy your ride without having any worries about riding your bike illegally, paying a hefty penalty, or paying from your pocket in case of third-party bodily injury or property damage.

There are two types of two wheeler insurance policies:

1. Third-party Liability Cover Only
2. Comprehensive Policy or Package Policy or First-party

Two Wheeler Insurance Third-Party (TP) Liability Cover

Third-party liability bike insurance policy is mandatory in India as per the Indian Motor Vehicles Act, 1988.

Third-party two wheeler insurance policy covers only the damages or loss caused by the insured bike to the third-party either bodily injuries or property. In addition to that, a third-party bike insurance policy also provides a personal accident death cover of amount up to Rs.15 lakh for the policyholder.

However, you need to keep in mind that a TP policy offered by any of the insurance company will not cover any loss or damages incurred to own bike, or theft of the insured bike.

 

Two Wheeler TP Liability Insurance Coverage:

Third party Liability Coverage: In case of third party bodily injury or death due to the insured two wheeler, the insurance company provides liability cover.

Third party property Damage Coverage: In case of any loss or damage to a third party property, the policy provides coverage up to an amount of Rs. 7.5 lakh.

Personal Accident Coverage: A third-party two wheeler insurance policy covers an owner-driver and optional pillion rider cover.

1. Owner-Driver Personal Accident Cover: In case of a permanent total disability or an accidental death, the policyholder is covered with a sum insured of up to Rs.15 lakh on an additional premium.

2. Pillion Rider Accident Cover: Add a pillion rider personal accident cover, which provides coverage up to the sum insured of Rs.1 lakh on an additional premium.

Personal Accident Cover Table:

Accidental Event	% of Sum Insured
Death	100%
Dismemberment of both the limbs or loss of vision in both eyes or one limb and one eye	100%
Dismemberment of one limb or loss of vision in one eye	50%
Permanent Total Disability	100%

What is not Covered in Liability Cover Only

• Own Damage of your two wheeler is not covered. Any damage incurred to the insured bike due to an accident is not covered. The policyholder will have to bear the repair cost himself or herself.

• Accidental damage/ liability/loss happened outside the specified geographical area.

• Damage, liability, loss happened due to invasion, war and other warlike operations.

Comprehensive Two Wheeler Insurance Policy

To protect your two wheeler completely, you will require a comprehensive two wheeler insurance policy. Because it provides a complete financial protection against own bike damages and also any third party loss or damages caused due to the insured vehicle.

You don’t have to worry, if your two wheeler gets stolen, as a comprehensive policy also covers bike theft to the limit of the IDV (Insured Declared Value) in the insurance policy. Moreover, the damage caused to your two wheeler, bike, scooter, or moped, in an accident will be borne by the insurance company.

Two Wheeler Comprehensive Insurance Policy

Coverage and Exclusions of Two Wheeler Comprehensive Cover
1) Own Damage
2) Third-party cover
a) Third-party liability cover
b) Third-party property damage cover
c) Personal Accident Cover:
i. Personal Accidental Cover for the owner-rider
ii. Optional (add-on) Pillion Rider Cover

 

Coverage of Two Wheeler Comprehensive Policy are:

Own Damage: A comprehensive two-wheeler insurance policy provides financial protection against any damage that may incur due to any man-made or natural calRaviies.

For instance, if your bike gets burned due to malicious act or gets stolen, you will be compensated under a comprehensive bike insurance policy.

A comprehensive bike insurance policy not only covers bike own damage repair costs but also protects you against  third party liability. With a comprehensive two wheeler insurance you are compensated for both own damage and third party losses.

 

Inclusions of Two Wheeler Comprehensive Insurance Cover

Under a comprehensive two wheeler insurance policy, your bike is protected, in case if there is any loss or damage as a result of:

• Fire, , self-ignition, explosion or lightning
• Earthquake, storm ,typhoon, hurricane, flood, tempest, inundation
• Cyclone, hailstorm, frost, landslide, rockslide
• Burglary, theft, riot, strike, malicious act
• Accident by external means, terrorist activity
• Any damage or loss due to transit by rail, road or inland waterway, lift, elevator or air
• Extra Coverage if an add-on is attached to the base comprehensive insurance policy

 

Exclusions of Two Wheeler Comprehensive Insurance Cover

While a comprehensive two wheeler insurance policy covers  damages/losses due to any man-made and natural perils to your vehicle, but there are certain exclusions:

• Any damages incurred when the policy is expired or not active
• Wear and tear of the two-wheeler due to aging
• Any electrical or mechanical fault breakdown
• Riding without valid or proper license
• Riding under the influence of alcohol, drugs or any intoxicants
• Accident due to involvement in a criminal or illegal activity
• Using private two-wheeler for commercial purposes is not covered

 

Differences Between Two Wheeler Liability Cover and Comprehensive Two Wheeler Insurance

Let us see an example to understand the difference between a liability cover and comprehensive cover.

Example: Ravi and Lokesh bought a new Bajaj Pulsar self-starter 150ccbike in Jan’21. The on-road price in Mumbai is Rs.85,000/-.

Ravi insured bike with only a Third-party cover. Third-party premiums is on the basis of Engine CC. So the premium is Rs.870/-.

While Lokesh bought a Comprehensive policy (covers own damage + third party liability cover), which cost him Rs.2000 /-.

In the month of June, both met an accident and it was their fault.  And the total repair cost turns out to be Rs.8,000 (approx.).

As Ravi had purchased only third party coverage, the whole repair cost of his two wheeler will have to be borne by him. The insurance company will pay only third party property damage cost. Nothing for any damages incurred on the bike.

Since, Lokesh had bought a comprehensive policy, the insurance company will pay the repair cost (after deduction for the depreciable parts cost) on behalf of him.

Key Points	Ravi	Lokesh
Premium Paid	Rs.870/- (only third-party)	Rs.2000(Comprehensive)
Third-party	Paid by the insurance company	Paid by the insurance company
Own- Damage Repair Cost Rs.8,000/-	Not paid by the insurance company	Paid by the insurance company
Total Money Invested	Rs.870 + Rs.8,000	Rs.2,000
Net Savings (Rs.)	0/-	More than approx. Rs.5,000

Total Money paid by Ravi is Rs.8,870, whereas, Lokesh paid Rs.2000. On the face value, Ravi saved money on the premiums paid. However, he had to suffer a huge financial  loss of money that came along with the bike damage. The total loss borne by Ravi is of Rs.8,870.

Note: All the prices are indicative and are subject to change.

 

The Differences Between Two Wheeler Third Party Liability Cover and Comprehensive

Coverage	Third Party Policy only	Comprehensive Policy
Third Party Liability	✓  Covered	✓ Covered
Third Party Property Damage	✓  Covered	✓ Covered
Personal Accident Cover	✓  Covered	✓ Covered
Own Damage	X   Not Covered	✓  Covered
Vehicle Theft	X   Not Covered	✓  Covered
Add-on Covers (Extra Protection Shield)	X Cannot be added	✓ Can be added

These are optional add-on paid features that you can avail by paying a little extra premium on your comprehensive two wheeler insurance policy. The add-on cover provide extra protection in addition to your base two-wheeler insurance policy.

 

Here’s the list of Two Wheeler Add-on Covers:

 

Zero Depreciation or Nil Depreciation Add-on Cover

At the time of claim, the insurance companies do not pay the complete repair or replacement cost of your bike’s depreciable parts. Depreciable bike parts such as rubber, plastic, metal are not fully covered. The depreciable cost is deducted at the time of claim repair. And this must be borne by you.

But with the help of two-wheeler comprehensive insurance with zero depreciation add-on cover, you stay covered for those depreciable repair or replacement costs. Because of this add-on cover, the insurance company pays the full amount of repair and/or replacement at the time of claim except for tyre(s) and tube(s).

 

Engine Protector

The damage incurred to the engine is not covered even under the base comprehensive bike insurance policy.

So, the damage to the Engine or Gearbox due to the leakage of lubricating oil, water ingression, clogging can be covered under the Engine Protector add-on.

The insured bike gets covered in case of repair or replacement of crankshaft, pistons, connecting rods, gear shafts in gearbox, etc.

 

Compare To Choose The Best Two Wheeler Insurance Online

To get the best two-wheeler insurance you need to compare between the plans offered by top insurance companies. KGFS Insurance provides you a simple and seamless two wheeler insurance comparison platform. By simply entering your bike’s registered number, you will get quotes from top insurers providing third party and comprehensive two wheeler insurance for your bike.

 

Below are the steps you should follow to gain awareness about the comparison process before you get into actually doing it.

 

Step 1: Identify Your Needs

In order to compare two wheeler insurance plans, you must first know exactly what you expect from it. If an insurance policy is providing you with a few more features than the other, but has a much higher premium, you need to analyse exactly how beneficial these features are going to be and whether the higher premium will be worth the additional value you derive from your policy.

 

Step 2: Decide Your Budget

Budgeting out your insurance coverage will narrow down your search options by filtering out the expensive policies. This way, you will also know the specifications you are eligible for depending on the money you can spend for your vehicle’s security.

 

Step 3: Find the Right Source of Information

There are multiple websites that allow you to compare information about insurance policies and companies. But how many of them are reliable? It is better to opt for a trustworthy and authorized source like KGFS, for example, which provides you with accurate and continuously updated data of various two-wheeler insurers.

 

Step 4: Weigh the Pros and Cons

Sometimes, two policies may seem to suit your needs the same way, but since you can’t buy them all, you need to make a difficult yet worthy decision between them. In such cases, it is better to analyse the pros and cons of each policy so it will help you finalize on one that stands out from the rest.

 

Step 5: Take Your Time

The most necessary step is to not rush into the procedure. It is better to use the time during the research phase than regret your choice later and not be able to do anything about it. Take your own time before you decide.

What exactly should you be looking for when comparing two wheeler insurance plans?

 

Type of Policy:

There are mainly two types of two-wheeler insurance plans, which are the Comprehensive and Third-Party Liability policies. While the former covers all types of damage including wear and tear, the latter provides limited coverage for third party damages alone. It is important to understand the difference between these policies when starting your comparison.

 

Claim Incurred Ratio:

A claim Incurred ratio signifies the percentage of claims that get accepted against the total number of claims that an insurance company receives. For example, if an insurance company has a claim ratio of 67%, it means that 67 claims out of every 100 get approved successfully.

 

Reputation of the Insurance Company:

The reputation of an insurance company speaks volumes about how convenient and hassle-free your claim process can be. This factor decides a company’s professionalism, the efficiency of their customer service department works, and whether you can rely on their support in your time of need.

 

No Claim Bonus:

If you don’t make a claim in a certain year, you are eligible to get a no claim bonus on your policy that can be carried forward or transferred.

 

Act Smartly: Compare Two Wheeler Insurance Policies Online

When a person compare bike insurance, then he or she should consider certain things like-

1. Compare various types of coverage so as to look for the best policy.
2. One should also compare the IDV (Insured Declared Value)
3. Do make sure to compare the premium rate of different organisations.
4. Comparing Add-on cover is a must.
5. One should check at the garage list of the cashless network.

Compare two-wheeler insurance online so as to look for the best company in less duration of time. Even it helps in saving a lot of amounts because most of the online organisations offer better deals and discounts to save money.  Even it is the best way by which a person can get the best plan without going out from home.

Comparing the bike insurance policy is much easy online, as one just have to fill the form. One must provide accurate information to the online organisation so that they can suggest better plans for the policy. One should enter the proper details about their bike like the model name and number, the age of the bike and much more.

So, to fetch the best policy it is essential to choose the online platform so as to save your money and energy.