Buy Two-Wheeler/Bike Insurance Policy
Get Your Bike Insured against all kinds of damages with a comprehensive bike insurance policy. Insure now and stay protected for a longer period
What is two-wheeler/bike insurance?
Your bike is your most prized possession. Whether you show off in front of friends or rely upon it to travel to work or with family, it is a valuable part of your life.
A Two-wheeler insurance plan protects your bike. If it gets damaged or stolen, you can get compensation to repair or replace it.
If an accident occurs while riding it, you or somebody else can get injured. There can be damage to their vehicle or property, or unfortunately, somebody may lose their life. An insurance policy will come to the rescue in any of these situations.
Need for a two-wheeler/bike insurance
One insurance cover for your bike is compulsory under the law. Motor Vehicles Act, 1988 states that any motorized vehicle on public roads in India should have third-party liability insurance. This covers you against any claim that can be made by third persons on you for injuries, damage or death related to your bike. Ride your bike without it, and you will face a heavy fine.
Why you choose Us
We provide you options to compare and study the terms and premium rates of multiple insurance providers so that you can choose the best policy for your bike
Quick purchase
Like Car Insurance purchase, buying a two-wheeler insurance online is easy at sandhanfin. It takes only a few minutes to buy or renew a policy. Sandhanfin helps you study and compare the offers of multiple insurance providers, so you can choose the best policy.
Minimises repair cost
The primary need for insurance is to ensure financial support at the time of accident or theft. It also acts as a financial backup to cover the financial loss caused to any third party vehicle/ individual.
Types of two-wheeler/bike insurance
Third-party liability insurance (more details on click, see seperately typed below)
To protect you from claims of other people who may face a loss like a vehicle or property damage, injuries or death due to your vehicle.
Comprehensive Two-wheeler policy
You can protect against damage or loss of your bike by adding an Own-damage policy to your third-party policy. This is called a comprehensive two-wheeler insurance policy and is recommended as it gives complete cover.
Add-on Covers
Several useful add-on covers are available at extra cost that will enhance your policy’s value.
Covers repair/ service charges for consumables like lubricants, engine oil and nuts.
If your bike breaks down during travel and you need assistance moving it to a garage, this optional cover will come to your rescue 24*7.
If you have a claim-free year on your bike insurance, you get a significant discount on your bike insurance renewal premium.
This add-on cover helps you meet your medical expenses if you have an accident.
Have you lost the original key to your bike and paid through your nose for a replacement? If you have this add-on cover, it takes care of that expense
A comprehensive bike policy covers the owner or driver of the bike. This add-on provides a personal accident cover for the pillion rider.
If your bike is damaged beyond repair or stolen, then the insurance company will pay the Insured Declared Value, which is the bike's market value after depreciation.
Vehicles depreciate in value, so your claim amount will be reduced to that extent. Take this add-on cover, and you can claim the full cost of your bike
Common reasons for Bike Insurance Claim Rejection
There are quite a few instances where the insurance company may reject your bike insurance claim. It is essential to take note of them and be cautious while exercising a claim. Rejection of claims due to certain reasons may affect your future prospect of availing two wheeler insurance later. Ensure you are aware of these reasons and make sure your claims don’t get rejected. The following are some of the reasons as to why your bike insurance claim may be rejected.
It is vital to ensure that your policy covers the damages that you claim. For example, suppose you hold a third party liability insurance and file a claim for the damages incurred to your bike. In that case, your claim request may get rejected. It is the reason why we recommend purchasing a comprehensive bike insurance policy that has broader coverage.
If you don’t renew your bike insurance policy on time, it goes into a lapsed state. Claims filed when your insurance is in the lapsed state are summarily rejected. It is advised to avoid such rejections by renewing your policy on time.
Suppose you do not have a valid license at the time of the accident, the bike insurance company will instantly reject your claim. Driving without having a license is a severe offence. So, ensure you have your license at all times when you are driving. If the license is nearing its expiry date, ensure you renew it before the expiry date.
Suppose the damages to your or third parties vehicle occurs when you are under the influence of alcohol or drugs. In that case, the bike insurance company will reject your claim as it comes under exclusions. Also, do remember driving under the influence of alcohol or drugs is a punishable offence by law.
Whenever an insurance holder requests a claim, the insurance company investigates the incident’s veracity and claim. If the company finds that the claim has been raised with an intention to defraud the company and obtain compensation, then such claims are rejected. Also, the company may initiate legal action against people filing such fraudulent claims.
It is essential to file a claim as soon as possible after the accident that caused damage to your vehicle or the third party’s vehicle. Delay in filing a claim may result in claim rejection as the company would likely see the delayed period as an opportunity to distort evidence, especially in claims where FIR has to be filed.
Conclusions: The points mentioned above are a few common instances where the bike insurance company rejects your claims. Before filing a claim, ensure you are well-informed about the terms of the policy. It is always wise to look at the exclusion list before buying a two-wheeler insurance policy. It would give you an idea about claim rejections.
Features of two-wheeler/bike insurance
Here are some technical terms in bike insurance
The maximum insurance coverage for the bike in the own damage portion of a comprehensive policy. It is equal to market value less depreciation.
In every claim, you have to bear an amount pre-fixed by the insurance company.
You can choose to bear a portion of every claim in return for a suitable premium discount. This will be over and above.
Pays for damage to third party vehicles or injury or death.
Pays for damage to your vehicle.
Two-wheeler/bike insurance claim exclusions:
You cannot make a claim under the following conditions..
FAQ
You can get more from some following questions
Ans. It is the maximum coverage that is provided for your two-wheeler under the insurance policy. It is the cost of your bike less depreciation.
Ans. Your premium depends on the following:
1. Bike make and model including CC of its engine
2. IDV specified by the insurance company
3.The geographic location of registration
4. Add-on covers
Ans. Yes. According to the Motor Vehicles Act, 1988, it is an offence to drive a motorised vehicle on public roads in India without a valid third-party insurance policy.
Ans. The first step is to file a complaint in the nearest police station. After this inform the insurance company and file a complaint with the necessary documents including the copy of the FIR.