What Is Covered in Your Two-Wheeler Insurance Policy?

This guide elaborates on the details of what is covered by your two wheeler insurance, with the most important features and addons that will help you make a better decision.

Why Do You Need Two-Wheeler Insurance?

Two wheeler insurance serves multiple purposes:

• Legal Compliance: According to the Motor Vehicles Act, 1988, third party insurance is mandatory.

• Financial Protection: Provides repair or replacement costs of damages to your vehicle or third parties.

• Peace of Mind: Saves you from unexpected expenses arising out of accidents, theft, or natural disasters.

Two-Wheeler Insurance Policy Types

Two-wheeler insurance is mainly divided into two types:

Third Party Liability Insurance

• Compulsory by Law: Covers damages to third party property, vehicle, or injuries to a third party.

• Limitations: Does not cover damages to your own vehicle.

Comprehensive Two-Wheeler Insurance

• Extensive Coverage: Includes third party liability and own damage cover.

• Flexibility: Allows you to add custom coverage options like zero depreciation or engine protection.

Pro Tip: Opt for a comprehensive policy for complete protection, especially if you rely heavily on your two wheeler.

What Is Covered in Your Two Wheeler Insurance Policy?

Here's a detailed breakdown of what's covered under a standard two-wheeler insurance policy:

1). Accidental Damage

This covers the costs for repair or replacement of damages to your two wheeler caused by accidents, including but not limited to:

• Collision with another vehicle or object.

• Skidding or losing control.

• Damage caused while parked.

Example: If your bike is damaged in a collision, the insurance will cover the repair expenses as per the policy terms.

2. Theft

If your two wheeler is stolen, the insurer compensates you for the loss based on the Insured Declared Value (IDV).

• Quick Tip: Ensure your bike's IDV is correctly declared during policy purchase or renewal to receive fair compensation.

3. Natural Calamities

Protects your bike against damages caused by natural disasters, including:

• Floods
• Earthquakes
• Cyclones
• Storms
• Landslides

Example: If your scooter is submerged in floodwater, your policy will cover the repair costs.

4. Man-made Disasters

Covers damages caused by riots, strikes, vandalism, or other manmade incidents.

5. Fire or Explosion

• Provides financial protection for damages caused by:
• Accidental fire.
• Explosions.
• Lightning strikes.

6. Third Party Liabilities

• Mandatory third party insurance covers:
• Damage to third party property.

• Injuries or death of third party persons.

• Coverage Limits: Liability for third party property damage is limited, while for bodily injury or death, it is unlimited under Indian law.

7. Personal Accident Cover

It also includes a mandatory Personal Accident Cover for the owner/driver that provides compensation in case of:

• Accidental death.
• Permanent total disability.

The coverage amount is usually up to ₹15 lakhs.

Add-ons that Can Enhance Your Two-Wheeler Insurance Coverage

Addons are additional covers that add on to the scope of your policy. Here are a few popular ones:

1. Zero Depreciation Cover

This cover pays for all the repair or replacement charges without deducting depreciation from parts like fiber, rubber, or plastic.

For instance: If your bike's side mirror is damaged due to an accident, then the insurer will pay full replacement charges without deducting depreciation.

2. Engine Protection Cover

Coverage for damages caused by water entry or oil leakage in the engine.

Recommended For: Bikes that are used frequently in flood-prone areas.

3. Roadside Assistance

24/7 assistance available for services like towing, battery jumpstart, and on the spot repair.

4. Consumables Cover

The cost of nuts, bolts, engine oil, and lubricants during repairs are covered.

5. Return to Invoice

In case of complete loss or theft, this addon guarantees you get the invoice value of your bike, not just the depreciated amount.

What Is Not Covered in Your Two-Wheeler Insurance Policy?

While two wheeler insurance provides a lot of protection, there are some exclusions you should know about:

• Normal Wear and Tear: Damages resulting from normal usage or old age are not covered.

• Mechanical/Electrical Breakdowns: Accidents not caused by mechanical or electrical breakdowns.

• Drunk Driving: The insurance company does not pay in case of drunk driving or drug overdose.

• Add-ons Not Declared: Injuries to additional parts not covered in the policy.

• Racing and Illegal Things: Accidents that occur due to racing or other illegal things.

How to Get the Best Out of Your Two-Wheeler Insurance

• Comprehensive Policy: Select comprehensive policy with suitable addons.

• Maintain Your Bike: Regular maintenance reduces the risk of damages and claim rejections.

• Avoid Policy Lapses: Renew your policy on time to ensure uninterrupted coverage.

• Opt for a Trusted Insurer: Choose an insurer known for hasslefree claims processing.

Conclusion

Understanding what is covered in your two wheeler insurance policy helps you make the most of your coverage and avoid unpleasant surprises during claims. From accidental damages to theft and natural disasters, comprehensive insurance offers extensive protection. Add some addons to enhance your policy and cover specific risks for peace of mind.

For customized two-wheeler insurance options, check out Coverfox Two-Wheeler Insurance today and secure your ride!

FAQs About Two-Wheeler Insurance Coverage