Two-wheelers are the most convenient transportation mode for many of us. Whether you want to reach the office on time or bring last-minute household items, two-wheelers are the perfect mode of transportation. However, it’s undeniable that the two-wheeler accidental ratio is high in comparison to other transportation modes in India. This is why it’s important to buy or renew a two-wheeler insurance policy on time. Keep scrolling to know all about bike insurance plans in detail!
Key Features of Bike Insurance Plan
Given below are the key features of a two-wheeler insurance policy:
• Bike insurance up to third-party liabilities is mandatory to ride in India.
• Buy a bike insurance plan online at the best affordable price.
• Get no claim bonus up to 50% for making zero claims during the policy year.
• Cashless repair option available at network garages of an insurance company.
• Coverage up to Rs. 15 lakhs for personal accident.
• Select from different add-ons to expand the coverage of your plan.
Types of Bike Insurance Plans
There are different types of bike insurance plans available in India. You can compare the benefits and select the most appropriate one to secure your two-wheeler. Here’s a look at the types of bike insurance plans in detail:
• Third-Party Two-Wheeler Insurance
It is a type of two-wheeler insurance policy mandatory for all two-wheelers in India. According to the Motor Vehicle Act of 1988, you may have to pay a hefty fine or imprisonment if found riding without a valid bike insurance plan. Third-party bike insurance policy usually provides financial coverage in case of loss or damage that happens to the third-party from your vehicle.
• Own-Damage Two-Wheeler Insurance
An own-damage bike insurance policy is a type of plan that provides coverage only for loss and damages that happen to your vehicle. For instance, if your bike gets hit with another vehicle resulting in damages to both sides. However, you can claim own-damage bike insurance policy only for your own damages. This type of bike insurance plan can be claimed by the policyholder if any loss or damage happens due to fire, theft, burglary, and natural calamities.
• Comprehensive Two-Wheeler Insurance
A comprehensive two-wheeler insurance policy is a type of insurance that provides dual benefits to the policyholders. It provides coverage for both own-damages and third-party liabilities. This means if your vehicle hits another vehicle and both are damaged, the policyholder can get financial coverage for losses of themselves and third-party. It is the best and the affordable health insurance policy bought by policyholders.
Benefits of Bike Insurance Plans
Although purchasing a two-wheeler insurance plan is mandatory in India, many of us prefer it buying due to its benefits. Given below are some advantages of bike insurance policies:
• Financial Assistance
Sometimes expensive bike repair bills can burn a hole in your pocket. Bike insurance plans become a safety net during financial emergencies arising due to vehicle loss and damages. It ensures that your bike gets back in shape without causing a financial burden to you and your loved ones.
• Legal Obligation
Purchasing a two-wheeler insurance policy up to third-party liabilities is a legal obligation in India. Riding without a valid bike insurance plan can result in paying hefty fines or imprisonment.
• Peace of Mind
Don’t you feel safe knowing that your parents are always there to protect you? Indeed, you feel protected! Likewise, a two-wheeler insurance plan brings peace of mind to policyholders. It makes them feel financially protected against loss or damage that happen while riding.
Inclusions and Exclusions Under Bike Insurance Plans
Is bike dent covered in bike insurance? Does it provide coverage for theft? Do you also have all these questions in your mind? Below-mentioned is a list of all inclusions and exclusions under two-wheeler insurance plan:
What Is Covered?
• Third-party liabilities
• Fire disaster
• Accidental damages
• Man-made disasters
• Natural calamities
• Theft or vehicles’ total loss
What Is Not Covered?
• Electrical or technical breakdown
• Regular wear and tear
• Illegal activities
• Intoxicated condition
• Beyond geographical boundaries
How to Buy or Renew Your Bike Insurance Plans?
Nowadays, it’s as easy as ABC to buy or renew a bike insurance policy online. But ensure that you select the right insurance broking firm to buy a two-wheeler insurance plan. Hero Insurance Broking is the best bike insurance provider in India. Here’s a look at a few easy steps to buy or renew your policy with Hero Insurance Broking:
• Visit www.heroinsurancebroking.com
• Hit the ‘Bike Insurance’ button.
• Fill up the necessary details in the required fields.
• Ideal 2-wheeler insurance quotes will appear on your screen.
• Select the most ideal policy as per your needs.
• Complete the premium payment process online.
• Do the KYC and download your policy document via WhatsApp.
Documents Required to Buy Bike Insurance Plan
Purchasing a two-wheeler has become as easy as a breeze for individuals. How? They just have to choose the right broking company like Hero Insurance. However, while purchasing or renewing an existing bike insurance policy, ensure that you keep details and documents like registration number, chassis number, and ID proof like Aadhar card or PAN card in handy.
You can also get in touch with our expert advisor at 18001024376 to get bike insurance advice or other assistance.
Tips to Save Premium on Bike Insurance Plans
Premium is an amount paid by the policyholder in exchange for insurance coverage. Premium of your insurance policy depends on numerous factors like make, model, modifications, and more. However, there are a few tips that anyone can follow to save a premium on their two-wheeler insurance plan. Here’s a look at some of them:
• Compare Quotes Carefully
We always try to find the best purchase for our needs in the market. Isn’t it? Likewise, it is highly crucial to compare different bike insurance providers to find the most affordable plan to protect your bike. You can easily compare different plans at www.heroinsurance.com. Click to compare now!
• Avoid Expensive Modifications
Expensive modifications are just like double-cheese pizza. Although it is very tasty but harmful to our health. Similarly, extra modifications to the bike can increase the premium of your two-wheeler insurance policy. Why? This is because these additional modifications can be costly for insurance companies.
• Buy the Right Add-Ons
Many insurance companies offer additional add-ons to widen the coverage of your bike insurance policy. But you have to be more careful while purchasing the add-ons as your premium increases with the number of add-ons you purchase with your base policy.
• Maintain No Claim Bonus
Every insurer offers no claim bonus to motivate their customers. Thinking about what exactly it is? Well, it is a reward provided by the insurer for making zero claims during the policy period. The policyholder can get a discount of up to 50% for riding safely and not claiming their bike insurance policy for 5 consecutive years. Thus, ensure that you avoid smaller claims and maintain your NCB.
• Ensure Timely Renewals
The policyholder must renew their bike insurance policy every year to get continued coverage. The policy gets lapsed if the policyholder fails to do so. A lapsed bike insurance policy means loss of no claim bonus and no coverage against risks. Hence, it is important to renew your policy on time and save on the premium of your policy.
How to Choose the Right Bike Insurance Plan?
Your choice of two-wheeler insurance policy depends on numerous factors like policy type, network garages, and others discussed in the section below.
• Policy Type
The most important point to keep in mind while choosing the right insurance policy is the type of policy. Ensure that you compare the features of different policy types to select the suitable one for your two-wheeler. You can choose from own-damage, third-party, and comprehensive bike insurance policies.

• Claim Settlement Ratio
Claim settlement ratio is another important factor to consider while purchasing the right bike insurance policy. It is a percentage of the number of claims settled vs. the number of claims received by an insurance company. Ensure that you buy a policy from a bike insurance company with a high claim settlement ratio.
• Network Garages
Bike insurance providers are associated with service providers to provide cashless repair facilities to policyholders. Hence, check the number of network garages associated with an insurance company. It will ensure that you don’t have to bear hefty bills out-of-pocket.
• Customer Support
Whether it is to file a claim or track its progress, efficient customer support is required at each process. So, make sure that you know about the customer service and claim settlement process of the company. Always read the reviews carefully and select an insurance provider that offers digital support to the customers.
FAQs

1. Is it mandatory to buy a bike insurance policy to ride a two-wheeler in India? Yes, as per the Motors Vehicle Act of 1988, it is compulsory to buy a two-wheeler insurance policy up to third-party liabilities in India.
2. Which bike insurance policy should I purchase? It is ideal to buy a comprehensive two-wheeler insurance policy. This is because it provides coverage for both own-damage and third-party liabilities.
3. How to renew my existing two-wheeler insurance policy? You can renew your two-wheeler insurance policy with Hero Insurance Broking. All you need is your bike registration number and ID proofs like Aadhar card or PAN card to renew your policy online.
4. What is the validity period to claim two-wheeler insurance after loss or damage? The policyholder must claim their bike insurance policy within 24-48 hours of loss or damage. In case of accidental damages, the insurer will ask you to file an FIR.
5. What is the maximum number of times I can claim my bike insurance policy? You can claim your two-wheeler insurance policy numerous times. However, unlimited claims during a policy year will result in a loss of accumulated no claim bonus.