Importance of two wheeler insurance


Importance of Two Wheeler Insurance Plan

26th August 2022 8min read 541 views

Two-wheelers are the preferred mode of transport for most Indians. Apart from being more affordable than cars, bikes make it incredibly easy to manoeuvre through traffic. Unfortunately, the country continues to struggle with accidents and road safety. In 2020, 3,66,138 road accidents were reported. They claimed 1,31,714 lives and injured another 3,48,279 people. On average, there are 42 accidents and 15 deaths per hour in India. For two-wheelers, the numbers paint a gloomy picture. Although total accidents involving two-wheelers declined by 4.9% in 2020 as compared to 2019, the number of deaths increased by Considering these statistics, every biker should have a two-wheeler insurance policy.

What Does a Bike Insurance Plan Cover?

To understand the coverage available, we need to explore the various policies offered by insurance companies:

Third-Party Liability Only

A third-party bike insurance policy provides coverage to third-party individuals and their property only. The policy will not take care of any damage to the vehicle or the owner-rider. The Government of India made third-party policies mandatory for all vehicle owners.

Own Damage Cover

An own damage bike insurance policy helps take care of damage to the policyholder’s two-wheeler. The policy will help with damages caused by:

  • Natural calamities, including fires, earthquakes, floods, storms, etc.
  • Vandalism, riots, theft, malicious activities, or terrorist attacks
  • Explosions, frost, cyclones, landslides, etc.
  • Rail, road, elevator and air transport

Policyholders can opt for add-ons with their own damage plan to enhance the coverage received. Add-ons such as zero depreciation, roadside assistance cover, and return to invoice can benefit the two-wheeler owner.

Personal Accident Cover Bike Insurance

The Government of India recently made personal accident coverage mandatory. The plan helps take care of the rider in case they get injured in an accident or while mounting or dismounting from the vehicle.

Comprehensive Two-Wheeler Insurance Policy

A comprehensive bike insurance policy provides third-party, own damage and personal accident coverage until a single plan. Like with an own damage policy, policyholders can purchase add-ons to increase their coverage. Comprehensive plans make the most sense since they provide complete protection for the bike and the owner.

Benefits of Bike Insurance

If you don’t have one yet, you must get a two-wheeler insurance plan and enjoy the following benefits:

Legal Protection

Getting a bike policy is the easiest way to stay on the right side of the law. You must have a plan that provides at least third-party liability and personal accident cover.

Cashless Claims

With a bike insurance plan, you can get your bike repaired at a network garage without paying the amount upfront. Instead, you only have to settle the non-insured costs and your insurance company will settle the amount directly with the garage.

Long-Term Cover

Most insurance companies allow you to purchase a long-term two-wheeler insurance policy. Instead of renewing your plan every year, you can enjoy coverage for three years.

Understanding Your Insurance Premium

You must pay a premium to purchase or renew a bike insurance policy. Let’s look at some factors that impact your insurance cost:

  • The bike’s engine capacity
  • Your location
  • The vehicle’s Insured Declared Value (IDV)
  • Insurance add-ons

If you have a two-wheeler, you must also have an insurance policy. An insurance plan provides financial protection while ensuring you stay on the right side of the law. Once you purchase a plan, you must remember to renew it before it expires. You can quickly complete the online bike insurance renewal process in just a few minutes. Check the Edelweiss General Insurance website to find a policy that works for you and your vehicle.

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