Two wheeler riders must compulsorily carry insurance for themselves and their passengers. The compulsory insurance for two wheeler riders is based on the value of the bike.
Two Wheeler Insurance In India
A two-wheeler is not a motor vehicle and hence does not come under the compulsory insurance cover for motor vehicles. You would have to purchase an insurance policy for your two-wheeler separately.
There are various two-wheeler insurance policies available in the market. The three most important factors to consider when choosing a two-wheeler insurance policy are the cover amount, the premium and the deductible.
The cover amount will determine the maximum amount of money that the insurance company will pay in case of an accident. The premium is the cost of the policy. The deductible is the amount of money that the insured person has to pay out of pocket before the insurance company starts paying out on claims.
Some basic factors to keep in mind when buying a two-wheeler insurance policy are the age of the bike, the type of bike and the ownership history of the bike. You should also consider the cost of the bike, the type of bike insurance and the deductible.
Types Of Two Wheeler Insurance
Motorbike insurance is compulsory in most countries, but is not always mandatory for 2 wheelers. The main types of 2 Wheeler insurance are personal insurance and property insurance.
Two Wheeler insurance can be divided into personal and property insurance.
Personal insurance covers you and your bike if you’re involved in an accident. Your policy will pay out for injuries you sustain, as well as loss of valuables such as your motorcycle. It’s important to have a policy that covers you in case of an accident, as the cost of replacing your motorcycle can be very expensive.
Property insurance covers your motorcycle if it’s damaged or stolen while you’re not using it. This type of policy will also cover any belongings on the bike, such as helmets, jackets and other accessories. If your bike is stolen, you’ll likely need to pay for a replacement, so it’s important to have a policy that covers this as well.
Two Wheeler insurance isn’t just for motorbikes. Many insurers offer policies that cover both personal and property damage for two wheelers. It’s important to compare quotes from different insurers to find the best policy for you.
What Is Covered Under Two Wheeler Insurance
A two wheeler is considered an automobile for the purposes of compulsory insurance under the Indian Motor Vehicles Act, 1960. This means that apart from basic insurance for the vehicle, two wheeler insurance covers damages to the two wheeler in the event of an accident. The insurance provider may also provide legal assistance in case of a dispute.
Apart from compulsory insurance, two wheeler insurance may also be necessary for other reasons. For example, if the vehicle is used for commercial purposes, it may need insurance cover for theft and damage.
Two Wheeler Insurance Premium
If you own a two-wheeler, you’ll need to purchase some form of insurance. In most cases, this will be compulsory.
The type of insurance you need will depend on the make and model of your two-wheeler. Generally, you’ll need to purchase vehicle insurance, although there are a few exceptions.
Vehicle insurance will cover any damage or injury to your bike, as well as property damage. This type of insurance will usually be expensive, but it’s essential if you want to keep your bike safe.
If you’re injured in an accident while riding your two-wheeler, you’ll likely need to take out personal injury insurance. This covers the costs of medical treatment and lost income.
So, if you’re a two-wheeler owner, make sure to get insurance. It’s a good way to protect yourself and your bike.
Compulsory Two Wheeler Insurance
There is no such thing as a compulsory two-wheeler insurance in India. However, a number of insurance companies offer two-wheeler cover as part of their comprehensive motorcycle insurance policies. This cover is usually applicable if you are riding a two-wheeler on a public road or a private road which is open to the public.
Benefits Of Two Wheeler Insurance
Two Wheeler insurance is compulsory in India for all motorcyclists. It protects the motorcyclist in case of an accident. The benefits of two Wheeler insurance include:
1. Protection in the event of an accident
- Cash benefits in case of an accident
- Discounts on motocycles and accessories
- Coverage for loss of earnings due to an accident
- Deductible protection
- Personal accident insurance
- Motorcycle theft protection
- Salvage and loss cover
- Emergency assistance
10. 24×7 assistance
The answer to this question depends on the country you live in. In some countries, such as India, mandatory insurance is required for all vehicles, including two wheelers. In other countries, such as the United States, mandatory insurance is only required for vehicles weighing more than 4,500 pounds. So, it is important to check the laws in your country before buying a two wheeler.
