Two Wheeler Insurance

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.

Things You Need to Know About Two Wheeler Insurance

Why Coverfox?

Want to know what makes us so special when it comes to your insurance needs?

Here's a list of some of our superpowers

Customer Care that cares.

A dedicated team of Service Managers to manage your bike insurance policy for you, right from start to finish – every way, any way. We call them our superheroes.

Unbiased expert advice

Our experts guide you to choose quotes based on your personal needs, and not the company – so unbiased, we could be your favourite professor.

No draggy paperwork

No long forms and wasting endless rolls of paper. At Coverfox, we are secret environmentalists. Everything is online, which means everything is that instant.

Expert claims assistance

We don’t stop at just helping you buy the most suitable insurance policy for your bike. We guide you through your entire claims process too. Because that’s how help should work!

Buy Confidently

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.

Insurer Logo

One Stop Solution for All Your Two Wheeler Insurance Needs

Coverfox offers a simple and instant process to buy and renew two wheeler insurance online.

Choose the Right Two Wheeler Insurance Policy

  • Compare: Compare policies offered by different insurers on one platform.
  • Best Quotes: Compare to get the best quotes from various insurance companies.
  • Completely online: Right from comparing to buying the two wheeler insurance policy, everything is entirely online.
  • Secure Payment: When you buy a policy, you directly pay to the insurer through a completely secured payment gateway.

Here's How to Save Money on your Two Wheeler Insurance

  • 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
5005% on the OD premium of the vehicle, subject to a maximum of Rs 50/-
75010% on the OD premium of the vehicle, subject to a maximum of Rs 75/-
100015% on the OD premium of the vehicle, subject to a maximum of Rs 125/-
150020% 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.

Don't Pay a Penny for Garage Bills at the time of claim

Go for a Zero Depreciation add-on cover for your two wheeler and stay absolutely worry-free

Zero or Nil Depreciation Cover

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).

Compare Two Wheeler Insurance Policies & Get the Best Deal

Coverfox has simplified the process of comparing two wheeler insurance policies online.

Why Compare Two Wheeler insurance policies?

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

  • Save Money: Compare different insurance policies and save money
  • Best Plan: Compare to get the best plan for your two wheeler
  • Insured Declared Value: Compare Insured Declared Value offered
  • Add-on Covers: Compare add-on cover offered by various insurers

Coverfox Makes Comparing Easy

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

  1. Enter your two wheeler details – Bike number, if you don’t know the number then enter the basic details of your two wheeler, such as model, make, and variant.
  2. Enter the registration details of your two wheeler.
  3. Check and declare if the policy has expired or not.
  4. Finally, click on Get Quotes.

Things You Should Consider While Comparing Two Wheeler Insurance Policies

  1. Compare type of Coverage (Third Party Liability or Comprehensive).
  2. Compare Insured Declared Value (IDV).
  3. Compare Premium.
  4. Compare Add-on Covers.

Bike Insurance Renewal: Insurance on the Go!

Best Two Wheeler Insurance Companies in India

Insurance CompanyAdd-on CoverSpecial FeaturesPolicy Term Year(s)
Bharti AXA Two Wheeler InsurancePersonal Accident Cover for Occupants Zero DepreciationInstant policy Hassle-free claim settlement1,2,3
Bajaj Allianz Two Wheeler InsuranceDepreciation Shield Engine Protector Consumables - Instant policy - 2. Hassle-free claim settlement1,2,3
HDFC Ergo Two Wheeler InsuranceZero Deprecation Emergency Road Assistance No Claim Bonus Protection*- Instant policy - Hassle-free claim settlement 1,2,3
IFFCO Tokio Two Wheeler InsuranceNo add-on coversInstant policy Hassle-free claim settlement1
Kotak Two Wheeler InsuranceNo add-on coversInstant policy Hassle-free claim settlement1,2,3
New India Assurance Two WheelerNil DepreciationInstant policy Hassle-free claim settlement1
Oriental Two Wheeler InsuranceNo add-on coversInstant policy Hassle-free claim settlement1
Reliance Two Wheeler InsuranceNil Depreciation Personal Accident BundleInstant policy Hassle-free claim settlement1
United India Two Wheeler InsuranceNo add-on coversInstant policy Hassle-free claim settlement1
Universal Sompo Two Wheeler Insurance Nil Depreciation cover Return to Invoice Instant policy Hassle-free claim settlement1

What is Multi Year Two Wheeler Insurance?

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:

Save up to 20–40% upfront on premium

IRDA hikes the third-party liability portion of the premium by up to 20% each year. Multiyear insurance saves you against the hike of third-party premium and service tax.

Eliminates the hassle of yearly renewal

Renewing your policy once for three continuous years is stress-free as compared to renewing your two wheeler insurance policy annually.

Protection for long-term

Ride safely and happily by enjoying long-term financial protection of your vehicle for three years. Also, you receive one policy document that is valid for three years.

Easy cancellation of policy

Insurers make the multiyear insurance policy cancellation easier. In a single year plan, if you make a claim in case of theft/loss, you are not eligible for refund.

Lucrative discounts offered

At times, insurance companies offer upfront discounts on multi-year two wheeler insurance policies.
This helps you save on your premiums.

Better No-Claim Bonus advantage

If you are eligible for 25% NCB, it’s applied on the premium of all 3 years. In single year policy, you lose the 25% with one claim. But, in multiyear plan, the 25% is locked for you.

How to Make a Claim on Your Bike Insurance Policy

Required steps and supporting documents:

In case of Accident

  • Immediately contact Coverfox.com
  • Lodge a claim with duly signed claim form
  • Copy of Driving License, RC book, Policy document
  • FIR, if required (Kindly note down, contact details of people and vehicle number involved in accident)
  • Original Repair Estimate Bill
  • In case of cashless service, only Invoice receipt
  • In case of reimbursement provide estimate bill, original invoice and payment receipt

In case of Two wheeler Theft

  • Immediately contact Coverfox.com
  • Lodge a claim with duly signed claim form
  • Original keys with Copy of Driving License, RC book, Policy document
  • Police FIR copy
  • Duly signed Form 26, 28, 29, 30 and Form 35.
  • Final confirmation with “No Trace Report” of the insured vehicle from the police

In case of Third Party Claims

  • Immediately contact Coverfox.com
  • Lodge a claim with duly signed claim form
  • Police FIR copy
  • Copy of Driving License, Policy and vehicle’s RC book
You happy. We happy.
FAQs on Two wheeler insurance

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:

  • Damages when the policy is not active.
  • Damages when the driver/owner is breaking the law. (Always carry your license, follow traffic rules and NEVER EVER drink and drive!)
  • Damages due to oil leakage.
  • Damages when you don't follow manufacturer's guidelines. (Not a good idea.)
  • Gradual wear and tear. (Because everything grows old!)

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:

  • Insurance Company: Check the company’s past records for the number of claims settled and the time taken to settle them. That's always a great measure.
  • Premium and Coverage: Balance between the premium you are willing to pay and the coverage that you will actually end up needing. Also, don't forget to include add-ons.
  • Cashless Garage Network: Be sure about the insurer’s network garages in your area. You must remember that you can avail cashless services only at these garages, so that's always tricky.

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:

  • The copy of the Registration Certificate & Tax Receipt of your bike.
  • The proof of valid insurance document.
  • Copy of your Motor Driving License
  • Copy of FIR/Panchanama in case of Theft or Third Party damage/death/bodily injury.
  • Repair Bills and Payment Receipts in case of reimbursement. That sounds about right?

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!

Leave a rating!
3.7 (6 votes)