Two Wheeler Insurance or Bike Insurance

Two wheeler insurance provides protection against damage or liability to property or individual. The same must be caused by your two-wheeler such as moped, scooter, and motorcycle etc. The cover extends to pay for damage costs on vehicle. These could result from unforeseen incidents like natural or man-made calamities, theft, and accidents etc.

2-wheeler insurance gives financial protection and assistance in case of incidents affecting the vehicle in question or damage caused to any other person or property by the two-wheeler. Thus, it enables you to save from shelling out huge amount of money for the loss.

What Are the Two Wheeler Insurance Types in India?

There is a wide range of two-wheeler policies to choose from, but you must take the one that best suits your requirement and budget. Here are the types of two-wheeler insurance in India:

1. Liability Only Insurance:

Coverage is provided if any damage is caused by the insured to the third party. This policy is also known as third party insurance on two wheelers, and it is compulsory under the Indian law for the vehicles to accommodate this type of insurance. As the name suggests, liability is your own responsibility for others, and the same applies for any harm caused to people due to the vehicle. It covers legal costs due to personal injury, death of third party, or property damage due to the insured vehicle.

Most insurance companies cover not only damage related costs but also offer an accidental death cover to the insured vehicle's owner. It serves as an added cover at times of injury to the owner. In liability insurance policy the cover is dedicated to third party than the insured automobile and its owners. Premiums for liability only cover can be bought from many of the leading insurance firms at reasonable rates. Also, the cover can be renewed annually and initially purchased for just a year.

2. Comprehensive Insurance:

This type of vehicle or two-wheeler insurance policy not only covers for third party liability but also protects the rider and the insured automobile. It provides coverage for damage to vehicle that arises from man-made and natural calamities, complete protection in event of total or partial damage to the insured vehicle due to accident, and for co-rider (as an add on cover) via personal accident cover.