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Unforeseen events can bring hiccups in your bike-riding journey which can lead to financial, legal, and emotional setbacks. Herein, comes the pivotal role of a two-wheeler insurance. A two-wheeler insurance policy offers security against the financial obligation, that is likely to be borne by you in the case of theft, damage or third-party damage/death caused by your two-wheeler.
With 25 insurers and 100+ products to choose from, Coverfox works actively to find a plan that is ideal for you. We mean, the best one. From providing you with all the right information to offering unbiased comparisons, we do it all. Hey, you don't even need to engage with the insurer yourself.
Licensed by IRDA IRDA/ DB 556/16
Coverfox offers a simple and instant process to buy and renew two wheeler insurance online.
Automobile Association of India: If you’re a member of the Automobile Association of India, approved by IRDAI, you are eligible for a discount of up to 2.5% on own-damage premium.
Anti Theft Device: If you install an anti-theft device on your bike, as approved by IRDAI, you get an additional 2.5% discount.
Voluntary Deductible Discount: If you decide to pay the minimum amount of money at the time of claim, the insurer offers a discount on the own-damage premium. The advantage is that if there’s no claim, you pay no extra cost and still save money by opting voluntary discount.
|Voluntary Deductible (Rs.)||Discount|
|500||5% on the OD premium of the vehicle, subject to a maximum of Rs 50/-||750||10% on the OD premium of the vehicle, subject to a maximum of Rs 75/-|
|1000||15% on the OD premium of the vehicle, subject to a maximum of Rs 125/-|
|1500||20% on the OD premium of the vehicle, subject to a maximum of Rs 200/-|
No Claim Bonus: it is a discount on the premium of two wheeler comprehensive policy offered by every insurer for every claim-free year. For a first claim-free year, you get 20% discount on the own damage premium for the next year. It’s cumulative and thus, keep on increasing as with the number of claim-free years. This discount can go up to a maximum of 50% discount for consecutive 5 claim-free years.
Save Money: You save money on the third-party premium when you buy a long-term/multi-year policy. IRDAI changes the third-party policy premium every year, and there’s a price hike every year. But with a long-term policy, you lock the third-party premium for 3 years.
Engine CC: The higher the engine cubic capacity (CC) of two wheeler, the higher is the premium. Be ready to shell out money Royal Enfield riders!
Bike Make and Model: The more high-end the bike, the higher is the bike insurance premium you need to pay. That means you, Harley Davidson and Ninja owners!
Year of Manufacture: Since rate of depreciation increases with age, older bikes have lower Insured Declared Value (IDV). And thus, lower premiums and vice versa.
Go for a Zero Depreciation add-on cover for your two wheeler and stay absolutely worry-free
At the time of claim, the two wheeler insurance company does not pay the depreciable cost. 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 the policyholder.
But with the help of two wheeler zero depreciation add-on cover, you stay covered. You save money even on those depreciable parts at the time of claim repair. Because of this add-on cover, the insurance company pays the full amount of repair and/or replacement at the time of claim. Except tyre(s) and tube(s).
Coverfox has simplified the process of comparing two wheeler insurance policies online.
Choosing bike was probably not that easy. After all, so many options. However, choosing an insurance policy won’t be that complicated. In fact, it’s easy, simple, and straightforward. No matter which or what type of two wheeler (scooter, scooty, bike, cruiser, sports bike, etc.) you ride, get a cover for your two wheeler. But with so many two wheeler insurance companies offering different premium, the ideal way is to compare before buying one.
Unique Benefits of Comparing Two Wheeler Insurance Policies
After entering the basic details of your vehicle, all you have to do is click on – Get Quotes, based on the entered details, Coverfox will fetch quotes from different insurers for you. It’s that easy. Within a minute, policies offered by the different insurer will be displayed on your screen. You can check the details and compare various plans. It’s instant and simple.
Steps to Compare Two Wheeler Insurance Policies Online
Things You Should Consider While Comparing Two Wheeler Insurance Policies
|Insurance Company||Add-on Cover||Special Features||Policy Term Year(s)|
|Bharti AXA Two Wheeler Insurance||Personal Accident Cover for Occupants Zero Depreciation||Instant policy Hassle-free claim settlement||1,2,3|
|Bajaj Allianz Two Wheeler Insurance||Depreciation Shield Engine Protector Consumables||- Instant policy - 2. Hassle-free claim settlement||1,2,3|
|HDFC Ergo Two Wheeler Insurance||Zero Deprecation Emergency Road Assistance No Claim Bonus Protection*||- Instant policy - Hassle-free claim settlement||1,2,3|
|IFFCO Tokio Two Wheeler Insurance||No add-on covers||Instant policy Hassle-free claim settlement||1|
|Kotak Two Wheeler Insurance||No add-on covers||Instant policy Hassle-free claim settlement||1,2,3|
|New India Assurance Two Wheeler||Nil Depreciation||Instant policy Hassle-free claim settlement||1|
|Oriental Two Wheeler Insurance||No add-on covers||Instant policy Hassle-free claim settlement||1|
|Reliance Two Wheeler Insurance||Nil Depreciation Personal Accident Bundle||Instant policy Hassle-free claim settlement||1|
|United India Two Wheeler Insurance||No add-on covers||Instant policy Hassle-free claim settlement||1|
|Universal Sompo Two Wheeler Insurance||Nil Depreciation cover Return to Invoice||Instant policy Hassle-free claim settlement||1|
General two wheeler insurance plans are designed for one year and have to be renewed annually. However, a multi year two wheeler insurance policy is unique. This policy allows two wheelers to be insured up to three years consecutively at one time.
Policyholders don't have to renew the insurance contract each year. This is because they receive a policy certificate for a maximum of three years cover.
Benefits of multi year two wheeler insurance plan:
Required steps and supporting documents:
In case of Accident
In case of Two wheeler Theft
In case of Third Party Claims
"Well, this was my first experience with Coverfox for two-wheeler insurance. The entire process of insurance was very smooth and quick too. Got the insurance in a couple of minutes."
"I have insured my vehicles with Coverfox. And I am very happy with the response time from their customer service team both on calls and on emails."
"I wanted consultation on which two-wheeler insurance to buy. Mr. Aniket Gupta with his expertise helped me to buy the right insurance that suited me and my vehicle. I must say, his co-operation during the process was commendable."
"Had taken insurance for my Royal Enfield from Coverfox, Thumbs up to the company for providing an excellent service and double thumbs up @ Aniket Gupta for his patience, his valuable time and appropriate suggestions."
What’s not included in your Two wheeler Insurance Cover?
A third party liabilty insurance cover is clearly limited. But there are some scenarios where even a comprehensive bike insurance policy with add-ons can't help:
How do you compare plans before choosing one?
We all know that too many options usually implies too much confusion. That is why, before choosing, one must compare plans on the basis of:
Please visit this link to compare two wheeler insurance policies.
What are the documents required to register a claim?
The sole purpose of buying insurance for your two-wheeler is to get adequately compensated for any damages and losses. To ensure that you raise a successful claim, it’s necessary to keep all the relevant documents at hand. While insurance companies try their best to avoid pesky paperwork, here is a list of documents you need to have on you:
How do I renew my two wheeler insurance policy?
We send you a renewal notice much before your policy expiration date! Just confirm acceptance along with a cheque, and we’ll take care of the rest.
Can I renew my bike insurance policy online?
Yes, you can – with a debit/credit card or even through net banking. Although, for expired policies you will have to contact us for an offline renewal process.
If I have fitted new accessories to my bike, how and when can I get them insured?
They can be insured during the term of the current policy itself. You just need to send a written request to our Customer Care, and we'd take care of the rest!
There's no better way to put this, but the real answer is 'no'. With regulated pricing and premiums set by the IRDA, the prices you see here are the ones you see everywhere (lower prices elsewhere usually mean there's a possibility of hidden charges). The only difference? At Coverfox, we don't look for the cheapest price, we look for the right one.
Online payments can be a major hassle, but not with Coverfox. This is why you don’t need a Credit Card; you can make payments through just Net Banking or your ATM/Debit Card. Unfortunately, we can’t support cash on delivery or cheques, just because we want to keep it online and simple. We do allow for card-on-delivery payment though. But this only works in the case of customers with expired car insurance, where an inspection is required.
You'd get your policy before you finish reading this answer. It's THAT fast. Once you choose your product and make your payment, it’s sent to your inboxes right away. No hard copies, because we are also secret environmentalists. If by any chance there is a delay due to a medical check or an expired vehicle inspection, we promise that you’ll be informed in advance.
With our excellent Customer Service, we make sure that you never have to deal with the insurer personally. We make it that convenient. Our relationship with insurance companies ensures our dedication to every customer! In fact, we offer free claim assistance during emergencies to even those who may not have bought insurance policy from us. After all, Coverfox is simply a phone call away for anyone in need.
Here, we don’t take any sides (apart from yours) when it comes to insurers – in fact, we don’t even ask you for your contact details for comparing various products until you are convinced. You can say that we are always looking out for you – like the friend you call at 4 am - whether it’s finding you the perfect policy or making sure you get only the best deals, we are on your side. As an IRDA approved organization, we are as genuine as they can get.