Table of Contents
- 1 What is section 1 and 2 in two wheeler insurance?
- 2 What is not covered in bike insurance?
- 3 What is period of liability cover in bike insurance?
- 4 Is Liability Insurance enough for two-wheeler?
- 5 What is not covered under motor insurance?
- 6 How do I claim Bike Insurance?
- 7 How much is two wheeler insurance per day in India?
- 8 What are the benefits of buying a 2 Wheeler policy online?
What is section 1 and 2 in two wheeler insurance?
1. Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown failures or breakages ; 2. Damage to Tyres and Tubes unless the vehicle insured is damaged at the same time in which case the liability of the company shall be limited to 50\% of the cost of replacement.
What is not covered in bike insurance?
Bike insurance does not cover you for loss or damage resulting from driving under the influence of alcohol or drugs. Bike insurance does not protect against loss or damage due to radioactive or nuclear-related activities. Any claim arising out of a loss or injury due to wars, riots or terrorism are not covered.
Does bike insurance cover repairs?
A standard bike insurance policy would cover you for: Accidental damage: The policy would cover the cost of repairing any accidental damage to your bike. Malicious damage: The policy would cover the cost of repairing any damage caused by vandalism or replace the bike if the damage is too much.
What is the use of two wheeler insurance?
Two Wheeler Insurance also helps you protect your vehicle in case it is ruined due to a natural disaster. Furthermore, Two Wheeler Insurances also help you stay protected under damage due to other circumstances that are out of your control like damages due to traffic, fire, theft, robbing, riots, terrorism, etc.
What is period of liability cover in bike insurance?
The Third-Party liability insurance for New two-wheeler insurance policies is for a mandatory period of 5 years. But the Personal Accident Cover for owner-driver can be either 1 or more years, with the maximum limit of 5 years.
Is Liability Insurance enough for two-wheeler?
No two-wheeler can be driven without a third party liability insurance in India as per the Indian Motor Tariff Act. Therefore, it is mandatory to have enough insurance cover to offer required financial assistance if any liability arises from any third party situation.
What is bike Owner cover?
An Own Damage Bike Insurance is a standalone bike insurance policy that solely covers for the bike’s own damages and losses. Put together both a third-party bike insurance and an own damage cover and you have a comprehensive bike insurance. One that covers for both damages to a third-party and your own bike too.
What happens when insurance totals your motorcycle?
If your motorcycle is totaled, the insurance company is required to pay you only the fair market value of your bike, regardless of how much you owe on it or how much you think it is worth. Fair market value is the amount that the motorcycle would sell for on the open market.
What is not covered under motor insurance?
Any damage to the car due to war, terror attacks, invasion, foreign enemy action, civil war, mutiny, rebellion, hostilities, radiation or nuclear material/weapons are not covered under a standard motor policy. For instance, engine damage due to hydrostatic loss during monsoons is a common consequential loss.
How do I claim Bike Insurance?
Following documents are required to claim Bike Insurance:
- Insurance claim form.
- RC copy of the bike.
- Tax payment receipt copy of the bike.
- Driving license.
- Insurance policy documents.
- FIR copy in case of third-party bike damage, injury to third party or death.
- Repair bills and receipts.
What does a comprehensive two-wheeler insurance cover?
As per the IRDA guidelines, comprehensive two-wheeler insurance policy covers the insured vehicle under below circumstances: Loss or damage to the insured vehicle due to man-made disasters such as burglary or theft, riot, strike etc.
What happens if your two wheeler insurance expires?
You cannot afford to carry an expired two wheeler insurance while riding. Apart from attracting a penalty, it may also lead to major losses in case of an emergency. An inactive policy means you’re no more covered by the insurer for any damages, legal liabilities and so forth.
How much is two wheeler insurance per day in India?
Two Wheeler Insurance Plans starting at Rs. 2 per day. Buy and compare two wheeler insurance plans online for your motorcycle at Policybazaar. You can now renew your expired bike insurance policy online from foremost insurers with lowest premiums in just 30 seconds.
What are the benefits of buying a 2 Wheeler policy online?
Some of the key benefits of buying 2 wheeler policy online are: Comprehensive and Liability Only Coverage Quick Policy Optional Coverage Easy Transfer of No Claim Bonus (NCB) Discounts Quick Registration for Online Purchase Property damage and/or physical injury coverage in surroundings