What is Two Wheeler Insurance?

The main objective of a two-wheeler insurance policy is to give protection against any loss or damage caused due to accident. It also provides financial security against incidents such as thefts, natural disasters, vandalism, and so on, as well as third-party liabilities.

ADFPOLICY is committed to provide comparison quotes from 20 plus insurance companies at lowest premium and maximum discount across India, you can buy online policy for your bike within 2 minutes.

Take these below-mentioned facts into consideration before buying two-wheeler insurance online to reap more benefits.

• Quick two-wheeler insurance

  Since the policy is issued online, getting two-wheeler insurance is simple.

• Pay no additional fees

  Do not pay any additional cost.

• Get your renewal of lapsed policy

  Get your renewal done online without any delays

• No delays in settlement of claims

  Our team will assist you with the process of settlement against your vehicle

• Customer support

  We highly believe in customer satisfaction by providing you with call resolution for your concerns

Types of bike insurance plans we have

When we talk about two-wheeler insurance, we generally speak about third-party bike insurance policies and comprehensive bike insurance policies that what we offer. Below are the details:

• Third-party two-wheeler insurance policy

  All bike owners in India are required by law to have the fundamental bike insurance policy known as third-party bike insurance. A third-party insurance coverage for your bike offers you financial security against losses brought on by injuries or property damage to a third party as a result of an accident involving the insured bike. According to Indian Motor Vehicles Act, all bike owners must have at least third-party two-wheeler insurance coverage; failure to do so could result in traffic penalties

  Since this sort of insurance policy expressly covers damages incurred by a third-party person or property, it is crucial to understand what third-party insurance for a bike is. A two-wheeler third-party insurance policy also covers you if the insured bike causes a fatal accident that results in the death of a third party. The aforementioned policy also includes coverage for the monetary responsibilities brought on by legal liabilities related to third-party losses

• Comprehensive two-wheeler insurance policy

  This two-wheeler insurance policy shields the owner from financial obligations related to accidental damages to a third party or their own vehicle. You can even choose add-ons to improve your coverage under such policy by paying a small additional price. At a slight additional cost, it also offers you a personal accident protection of Rs.15 lakh for accidental death and disability.

• Benefits of having two wheeler insurance policy

  Owning and riding a bike offers you many advantages. For instance, a two-wheeler is significantly simpler and less expensive to purchase and maintain than a car. Despite these benefits, biking is particularly risky when the roads are in dreadful condition and there is a lot of traffic. Additionally, elements like unfavourable weather, road hazards, and reckless driving by other motorists can hurt you and your wheeler. Also it is important to accept the fact that bike theft has significantly increased over the past few years. Consequently, having a reliable bike insurance policy is more of a requirement. Several advantages of two-wheeler insurance include the following:

  • Financial Security
  • Roadside assistance
  • Coverage for bike theft
  • Coverage for accidental injuries
  • Coverage for spare parts require repair

What is covered by two-wheeler insurance policy purchased on ADFPOLICY?

• Natural disasters that cause loss or damage to your two-wheeler

  Earthquake, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, hailstorm, frost, landslide, and rockslide are some examples of natural disasters.

• Personal accident cover

  The registered owner-driver of the motorcycle or scooter is covered by a personal accident insurance policy worth 15 lakh rupees when riding, getting on, or getting off the two-wheeler. By paying an additional price, you can also get personal accident insurance for fellow travellers.

• Two-wheeler accident or damage from a human-caused disaster

  Any damage that occurs when travelling by road, rail, inland canal, lift, elevator, or air, as well as burglary, theft, riot, strike, malicious act, accident caused by outside forces, or terrorist activity.

• Third party legal liabilities

  Protection from legal responsibility for unintentional harm that results in a person’s injury or death or harm to nearby property

Exclusion

• Deterioration and ageing of two-wheeler.

• Harm caused to or by a rider on a two-wheeler while under the influence of alcohol or drugs.

• Unauthorized usage of a vehicle in relation to its permitted uses.

• Unless the car is destroyed in an accident, in which case we will pay up to 50% of the replacement cost, wear and tear of tyres and tubes.

• Damage or loss brought on by mutiny, war, or nuclear peril.

• Mechanical or electrical breakdown.

Advantages of buying bike insurance online

Get your two-wheeler covered online hassle free. Not only digitalization has made our lives easier but also has given transparency in the process. Online two-wheeler insurance purchases with ADFPOLICY are made possible by their outstanding information technology infrastructure. Buying a policy online not only saves time and travel costs but also has many other advantages which includes:

• Easy Renewal.

• Quick Assistance.

• Cashless payment.

• Customization.

• Instant policy issuance.

• No paperwork.

Why should you buy two-wheeler insurance?

Numerous coverage features that come with bike insurance can help you save time, money, and effort. These include personal accident insurance, bike maintenance coverage, and many other things. Secondly, it’s imperative to have insurance coverage while operating any kind of vehicle. Riding a motorcycle without insurance can result in Rs.2000/- fine or imprisonment.

How to buy Two wheeler insurance policy?

Even though the process of purchasing bike insurance online is simple, different people may have different concerns. What you must do is as follows:

• Visit the bike insurance page of our website.

• Enter your phone number, email address, bike registration number, registration year, and so on.

• Select the plan that suits you.

• Following the primary selection, you can further customise your coverage to the extent permitted by the insurance provider by selecting the appropriate add-ons, deductibles, and so on.

• When you have completed your selection, you can make a payment using debit cards, credit cards, net banking, and so on.

• Finally, instantly get the policy documents over registered mail.

What is NCB in bike insurance?

NCB is an abbreviation for no claim bonus, and it adds benefit to bike insurance policy. This benefit pays a bonus for each year without filing a claim on your policy. The cost of insurance decreases with each passing year. Furthermore, the percentage of bonus offered rises with each consecutive year of claim-free service until it reaches 50%. As a result, if you do not file a claim, you may be eligible for a no-claim bonus of up to 50% of your premium.

What is IDV in bike insurance?

IDV, or insured declared value, is the amount of money that an insurance company promises a customer if his or her bike is damaged beyond repair in an accident or stolen. The market value of the bike at the time the policy is purchased determines this value. Because of depreciation, the IDV usually decreases with each policy renewal

What impacts the insured’s declared value (IDV)?

Your policy’s IDV is essentially the market value of your bike, the IDV also determines the policy premium. In turn, two factors influence the IDV. These include the vehicle’s selling price and the rate of depreciation. The selling price of your bike will be fixed, so there will be no uncertainty. A depreciation rate, on the other hand, gradually reduces the purchase price from the value of your bike.

What is zero depreciation in bike insurance?

You may be aware that the insurance company deducts the depreciation value of your bike or scooter’s parts when settling a claim for damage to your two-wheeler. During the claim process, the zero depreciation add-on offsets this depreciation. This add-on is available for a small fee.

How can I lower the cost of my bike insurance?

Insurance exists solely to save money. Why should this be any different when purchasing an insurance policy? Here are some suggestions for lowering your premium while keeping the same level of coverage. Here are a few examples:

• Claiming NCB benefits

  If you are an expert driver, you will almost never have to file a claim. Take advantage of it by taking advantage of your NCB benefit.

• Installing safety devices

  Installing safety devices reduces the likelihood of your vehicle being stolen. The insurer is likely to offer a lower premium as a result of the lower risk.

• Compare Plan

  Comparing different policies is the best way to find cheap bike insurance.

How to claim on two-wheeler insurance online?

There are two ways to file a motorcycle insurance claim. A cashless claim is the first type of claim, and a reimbursement claim is the second. The manner in which the settlement amount is provided varies between the two. In cashless claim, you go to garage and claim is directly settled by insurance company to garage, in case of claim , you first need to spend money and then file claim along with supporting document to claim reimbursement.

How to renew your policy?

Renewals are an essential component of having bike insurance. Because the policy has a one-year term, it must be renewed every year to maintain coverage. If you don’t, your coverage will expire and you’ll have to start over.

Follow these steps to easy renew your policy:

• To renew, log on to our website page.

• Fill the necessary details asked for, like your vehicle, current coverage and so on.

• Pay with debit cards, credit cards, net banking, or other methods. When the process is complete, you will receive your policy via email.

How to renew an expired two wheeler insurance policy?

• If you fail to renew your policy by the due date, it is considered to be expired. Your coverage would be terminated at this point. You can renew the policy online; however, because there was a gap in coverage, insurer may at its discretion may request an inspection of the vehicle.

Therefore, we advise that you renew each time before the deadline.