All about coverage in a two wheeler insurance policy


04 Aug 2023

Read All about coverage in a two-wheeler insurance policy. For more information, check out the bike insurance policy from Kotak General Insurance.

Bike insurance, also known as two-wheeler insurance coverage, protects you from theft, fire, natural disasters, and other hazards that might cause harm to your two-wheeler. The insurance also offers protection against third-party liabilities arising from bike-related incidents, including harm to another person's property or vehicle or personal injury, or wrongful death.

Why do you need bike insurance?

Your two-wheeler insurance policy may shield you and your bike from unnecessary costs in a variety of circumstances. Every bike owner in India is required to obtain at least a third-party bike insurance coverage in compliance with the Motor Vehicles Act of 1988.

Two-wheeler insurance coverage may also be useful in a variety of circumstances, including:

• Riding a bike without a current third-party two-wheeler insurance coverage is an illegal offense. If you don't have bike insurance, you risk receiving severe legal punishment and traffic fines.

• With two-wheeler insurance coverage, the expense of replacing your vehicle or fixing the damage it caused may be covered without you having to pay a lot of money out of your own pocket, decreasing your stress levels both mentally and financially.

• All types of personal injuries are covered by your two-wheeler insurance, and the financial security provided by the personal accident policy may greatly lessen the difficulty.

Different types of Two-wheeler Insurance Policies

Comprehensive insurance

This two-wheeler insurance policy shields the owner from financial obligations related to unintentional harm to a third party or to their own vehicle. In order to extend the coverage provided by this insurance, you can even choose add-ons by paying a small additional premium. At a slight additional cost, it also offers you personal accident coverage for accidental death and disability, nearly an amount ofRs.15 lakhs.

What does it cover?

• Accident

• Theft

• Fire

• Transit-related damage

• Third-party liability

• Personal accident

• Disasters caused by nature

Third-Party insurance

As the name implies, third-party bike insurance protects the rider from any legal responsibilities that result from harming a third person. In accordance with this kind of two-wheeler insurance policy, your insurer will cover any costs incurred if your bike injures a third party or damages his nearby property. It is also known as liability-only insurance because it protects against third-party death, permanent or temporary disability, and bodily injury resulting from an incident involving the insured's bike.

What does it cover?

• Third-party property damage

• Injury to the third party

Standalone own damage policy

The standalone own damage two-wheeler insurance plan covers damages to your bike or scooter brought on by man-made disasters like theft, burglary, riot, strike, etc., as well as natural disasters like flood, earthquake, cyclone, landslide, etc.

What does it cover?

• Accident

• Theft

• Fire

• Natural calamities

• Damage in transit

How can you buy a two-wheeler insurance policy online?

Due to numerous discounts and offers on premiums, obtaining a two-wheeler insurance policy online is considerably more affordable than doing so offline. It also makes it simple to compare policies, requires no paperwork, and is quick and straightforward. The main reasons for these low prices are the removal of intermediaries and bureaucracy. You only need to visit the insurance provider's website, select the appropriate policy, and complete the concerned form to purchase the coverage. Simply make the payment online. You will receive a physical copy of the policy at your door in a few days as well as an email with the policy at your registered email address, and you are done with the driving worries.

Visit Kotak General Insurance for More Information.

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Team Kotak GIC

The content of this blog has been created and carefully reviewed by the esteemed team at Kotak General Insurance, with the sole purpose of providing valuable guidance and sharing insights on the importance of general insurance. Our objective is to assist users in making informed decisions when purchasing or renewing insurance policies for their cars, bikes, and health. Our expertly curated information aims to empower our readers with the knowledge they need to protect their valuable assets and financial interests.