1. Two wheeler Insurance
What Is Bike/Two-wheeler Insurance ?
A two-wheeler insurance policy is one that helps you to
cover financial expenses against any unforeseen
circumstances including accidents, thefts or natural
disasters, if you are an owner of a two-wheeler/bike. It
is not optional, but mandatory under the Motor Vehicles
Act to have your two-wheeler covered under an
insurance policy. When you buy a new vehicle, the
seller adds the cost of an insurance cover in the total
cost as a premium, which is valid for one year. After
one year, you can get your policy renewed with the
same insurance provider or you can buy a new policy
with a different insurance provider.
Depending upon the kind of insurance policy you choose
and add-ons you select, the two-wheeler insurance
policy works for the following:

2.  Liability Cover
 Comprehensive Coverage
 Discount For Having Anti-Theft Devices
 Damages Due To Accident
 No Claim Bonus
 Personal Accident Cover For Pillion Rider
 Zero Depreciation Cover

3.  Eligibility, Documents And Process To Buy Two-
wheeler Insurance
 Eligibility
If you’re eligible to buy a two-wheeler, you’re eligible to
buy an insurance policy. That is, if you’re an adult with a
valid driving license, you can buy a policy. In fact, it is a
must to have your vehicle covered under an insurance
policy as per the laws and regulations.
 Process
The first bike/two-wheeler insurance policy will come with
your new vehicle as part of the package valid for one year.
After that, either you can renew the policy with the same
insurance provider or select a new company and directly
buy from them. You can buy a policy from an insurance
agent or you can opt to buy a new policy online after doing
thorough research and comparing various plans. Buying
online does give you a better deal as you can select a plan
based on your needs and requirements at a lower cost.

4.  At easypolicy.com, we help with all your queries regarding
two-wheeler insurance and strive to provide fair
comparison between different plans so that you can select
the best bike/two-wheeler insurance policy for your
vehicle.
 All you need to do is submit basic details including your
name, contact details, bike/two-wheeler model and make,
registration number of the vehicle, your city and
easypolicy.com will provide you with all possible insurance
plans and options to choose from.
 Documents Required
The documents that you will need if you are buying the
bike/two-wheeler insurance are:
 Your current policy document, in case of renewal or switch
 Your driving license copy
 Your vehicle registration documents with the copy of RC
(Registration Certificate)
 Your address proof
 A voided check in case you want to set up EFT (Electronic
Funds Transfer) for premium payment.

5.  Key Advantages And Features of Bike Insurance!
 One should buy a bike insurance not only because it is mandatory
under the law, but also because it provides a lot of benefits that
can come handy in case of an accident, theft or any natural
disaster. Let’s share with you the key benefits and features of
a bike insurance:
 Accidental Coverage: With a comprehensive bike insurance
policy, you can cover your financial expenses incurred on
repairing your vehicle due to an accident. Even small repair and
minor damages can be taken care of at a fraction of a cost,
thanks to insurance.
 Third Party Liability: In case of an accident, the insurance
policy will provide cover to reimburse damages to the third
party’s vehicle. Not only that, medical expenses incurred for
treatment or hospitalization expenses are also taken care of. It
even covers damage to third party’s property so that you don’t
have to pay anything from your pocket!
 Coverage Against Theft/vandalism: You can be a victim of
theft or robbery or probably get your vehicle damaged due to a
riot. A bike insurance policy will take care of such disasters as
well so that you don’t lose your hard-earned money owing to
factors out of your control.

6.  Coverage Against Natural Disasters: Any damage
caused due to floods, storms earthquake etc. is also
covered by a comprehensive bike insurance policy. Add-on
Covers: Apart from basic insurance coverage, such
insurance policies also provide various add-on covers to
provide a wholesome shield against unforeseen expenses
by paying an extra amount. These can include coverage for
cashless garage facility, free towing and the likes No Claim
Bonus: Even if you do not face any such situation
throughout the year, you get a handsome no claim bonus
(NCB) for not filing any bike insurance claim. Your next
bike insurance comes cheaper to you. It is very important
to buy a comprehensive bike policy at the earliest and if
you already have coverage, get it renewed within time by
easily comparing various policies at easypolicy.com and
remain tension free!

7.  Exclusions: What Is Not Covered In A Two-
wheeler Insurance Policy!
 Even though a two-wheeler insurance policy is
designed to shield you from unforeseen financial
expenses caused due to an accident or any
natural/man-made disaster, there are certain
situations, which your policy may not cover!
It is important to study various insurance plans
before buying them and your policy document in
detail to understand such exceptions.
Here are a few conditions which are not covered by a
two-wheeler insurance policy:

8.  Any damage caused to the vehicle due to regular wear and
tear
 Any damage caused to the vehicle when driven by a person
without valid driver’s license
 Damages or loss caused due to electrical or mechanical
breakdowns
 Regular depreciation of the vehicle
 Loss to tyres and tyre tubes
 If the person is found to be driving under the influence of
liquor/alcohol/drugs
 Occurrence of loss or damage when the policy has expired
or not active.
 Loss or damage as a result of war /mutiny /nuclear risks.
 If the Two-wheeler is used for any other purpose other
than its intended use.
 For any queries, please do write to us, or get in touch with
us through our 24x7 chat assistance.

9.  Add-on Covers With Your Bike Insurance!
 While the basic bike insurance policy will cover the
basic expenses incurred on your vehicle due to an
accident or other unforeseen circumstances, there
might be some sudden expenses that can also make
a big hole in your pocket. To safeguard from such
shocks, there is an option of selecting add-on covers.
Add-on, also called riders, are additional coverage on
your existing bike insurance policy that you can
purchase by paying extra premium. Different add-ons
are offered by various insurance providers and you
can select the ones that meet your requirements.
Here are the add-ons that are on offer:

10.  Zero Depreciation Cover: As a vehicle ages, depreciation
causes the value of the vehicle to go down. Now, in case of
an accident, the insurance provider will only pay for repairs
or changing parts based on the depreciated value that can
be extremely less if it’s an old vehicle. By buying zero dep
cover, one can ensure to have the value of vehicle
calculated as a new vehicle and save money on repair by
claiming actual charges from the insurer.
 Accident Cover for Pillion: It is an important add-on as
it provides for medical expenses incurred in case a pillion
rider is injured in an accident. It covers the pillion rider in
the event of partial/permanent disability and in some cases
even death.
 Road Assistance: Purchasing this cover means you will
get help in case your vehicle breaks down in the middle of
the road, anywhere. Insurers provide towing facility,
cashless garage facility, accommodation benefits in case
vehicle breaks down in a secluded place, any other
emergencies and the likes. It’s like having a friend in need!
 Accessories Coverage: In situations where you have to
change or add electrical/non-electrical accessories to your
vehicle, the cost for the same will be borne by the
insurance providers.

11.  All of the above add-ons are optional but they are very useful in certain
situations. Keeping in view your actual requirements, you may opt for
some or all of them.
 Importance of Having Bike Insurance
 A bike that you own is a prized possession that you have bought with
hard-earned money. It is an asset that needs to be taken care of so that it
doesn’t become a liability for you.
With bike insurance, you can be rest assured that you only enjoy driving
your vehicle and don’t feel stressed because of it.
 Here is why it is very important to have a bike insurance:
 Follow The Law
Driving a bike without adequate insurance cover is illegal in the country
as per the Motor Vehicles Act that can lead to fines and penalties.
 Coverage Against Accidents
Precaution is better than cure! An accident can happen anywhere with
anyone and it can lead to massive expenses to get your vehicle back in
shape. Bike insurance policy covers such unforeseen expenses and pays
for all kinds of damages so that your vehicle can be repaired without
making a big hole in your pocket.

12.  Medical Coverage
An accident can lead to physical injuries for everyone
involved. A comprehensive insurance policy pays for the
medical treatment, legal expenses and even provides
financial assistance in case of loss of limbs or even death of
not only the owner of the vehicle, but also of the third
party involved in accident.
 Protection From Natural Disasters
A flood, earthquake, fire or any such natural calamity can
also result in you losing your vehicle or it getting badly
damaged. Having a bike insurance cover ensures your
financial losses are reduced or totally eliminated without
you having to spend a single rupee.
 Man-made Disasters
With increasing instances of theft, vandalism or rioting, it is
better to have a comprehensive bike insurance policy so
that you’re not penalised for something that’s not your
mistake. The insurance cover reimburses the cost of the
vehicle damaged or stolen under such circumstances.

13.  Here is a clear comparison table to help you understand your insurance
needs:
Third Party
Coverage
Comprehensive
Policy
Damage ToThird
Party's Vehicle
Yes No
Financial Support
During
Emergencies
Yes Yes
Damage to Own
Bike
No Yes
Low Premium Yes No
Coverage Other
Than Collisions
No Yes
Personal Accident
Cover
No Yes
Coverage of Loss
of Belongings in
The Bike
No Yes
Medical Expenses
For Self
No Yes
Medical Expenses
For Third Party
Yes Yes
Loss Due To
Natural
Calamities
No Yes
Bike Theft No Yes

14.  If you already have an insurance cover, do remember to
renew it on time. Getting your bike covered under a third
party or a comprehensive insurance policy is a must, not
only to save money, but also for peace of mind!
 Types of Bike Insurance
 Bike insurance is broadly offered under two major
categories.
Here’s a look at the types of bike insurance policies offered
by various insurance providers:
 Third Party or Liability Cover:
◦ This insurance cover is mandatory under the Motor
Vehicles Act and driving without this insurance is illegal
in the country.
◦ The insurance policy helps you in covering damages to
the third party’s vehicle or property involved in an
accident with your vehicle.
◦ It also pays for any medical bills incurred due to injuries
by the third party, thereby reducing your financial
liability arising out an accident.

15.  Comprehensive Insurance Policy: This type of
insurance policy provides financial assistance under all
kinds of unforeseen tragedies involving your vehicle.
 It provides for repair of damages caused to your
vehicle/property and the third party’s vehicle and property
as well. It also takes care of legal expenses, medical costs
to treat injuries, provide money for loss of limbs or death,
covers losses caused due to theft, vandalism and even
natural disasters.
 The policy also offers to provide add-on features like No
Claim Bonus (NCB), Zero Depreciation Cover, Accessories
cover etc. to provide a wholesome insurance coverage for
your vehicle.
 It is expensive compared to a third-party insurance policy,
but in the long run it helps in providing adequate financial
cover to save you from unexpected losses.
 Even though it is not compulsory under law to have such a
bike insurance policy, it is advisable to buy it to safeguard
your financial interests.

16.  Here is a quick comparison table to help you understand your need of Bike insurance:
Third Party
Coverage
Comprehensive
Policy
Damage ToThird
Party's Vehicle
Yes Yes
Damage to Own
Bike
No Yes
Low Premium Yes No
Coverage Other
Than Collisions
No Yes
Personal Accident
Cover
No Yes
Coverage of Loss of
Belongings in The
Bike
No Yes
Medical Expenses
For Self
No Yes
Medical Expenses
For Third Party
Yes Yes
Loss Due To
Natural Calamities
No Yes
Bike Theft No Yes

17.  Tips To Buy Bike Insurance
 There are certain considerations to be kept in mind while
buying a bike insurance policy.
Here are the most important tips to follow while doing
research for the best policy:
 Types of Insurance
There are two types of bike insurance in India:
 Third Party or Liability Insurance- It is an insurance
policy to cover the damages caused to the vehicle,
property, accidental death and injuries caused to the third
party, except the insured and the insurer, due to an
accident. This policy is mandatory under the laws of our
country.
 Comprehensive Plan- Under this type of insurance policy,
the damages, legal expenses and medical costs are
covered for both the insured as well as the third party
involved in an accident. It also covers natural disasters as
well as man-made disasters including theft, vandalism,
riots etc.

18.  Lowest Premium
 Depending on Vehicle –It is important to get your vehicle
inspected before selecting a policy. The premium will be
dependent on the age, brand, make and model of your
bike. Compare various plans available for your vehicle that
meet your requirements and choose the one that offers
best benefits at the lowest possible cost.
 Depending on Claims History–Insurance providers offer No
Claim Bonus (NCB) for not filing for claims in a given year.
This can reduce the premium amount and makes it
advisable not to file claims for petty repair work and
damages.
 Even though comprehensive policy is a bit expensive than
third party insurance cover, it is beneficial to provide
complete financial assistance in times of need.

19.  Ways To Reduce Premium
 Ensure the vehicle is driven by a single driver and who is a safe
driver
 Remember to install an Automotive Research Association of India
(ARAI) approved security feature in your vehicle to avoid burglary
and theft. This can help in reducing the premium
 Don’t file claims for every little damage or repair to enjoy No
Claim Bonus in the following year at the time of renewal
 Some insurers offer you to pay premium in instalments in a given
year, but making a one-time payment makes it economical
 Precautions–What Not To Do!
 Do not declare a lesser Insured Declared Value (IDV) on the
insurance form to claim a lower premium. The premium might be
less, but in case the vehicle is stolen or in case of an accident,
the insurer will reimburse you the value of the vehicle based on
IDV. Always mention the correct IDV of your bike to be on the
gaining side
 Mark your calendar so that you don’t forget renewing your
insurance policy on time. If it expires, you lose on all the benefits
of an insurance cover till you don’t renew it that sometimes also
result in higher premiums
 Just logon to easypolicy.com and buy the best bike insurance
policy now!

20.  Bike Insurance - Online Vs. Offline Comparison!
 The bike insurance policy can be bought either from an insurance
agent or by going online and buying it directly. The trend of more
and more people buying it online is increasing and there are valid
reasons for the same.
Let’s present to you the comparison between the two mediums
based on following factors:
 Convinience: Instead of going to an insurance agent or calling
one at your home, you can look at various insurance plans online,
do your research, compare various plans and buy a policy from
anywhere, anytime as per your convenience.
 Cost: Every insurance company is able to offer you reduced and
discounted premiums if you buy a policy online as they don’t
have to worry about the agents’ commissions and other overhead
costs. Hence, buying online means extremely low premiums!

21.  Better Information: Buying a bike insurance cover online
also offers you the chance to gather detailed information
about the product so you can make an informed choice
compared to checking with an agent, who might not share
complete details.
 Easy Payments: Instead of writing a cheque and having
to wait for payments to clear, you can make online
payments with various options at your disposal including
net banking, credit cards, debit cards etc.
 Secure: The entire process of selecting, comparing, buying
and paying for the policy is absolutely secure online and
your personal information is also kept confidential
 Customer Service: Every insurer has a customer care
centre where you can speak with a representative over the
phone to solve any query or doubt while buying the policy
rather than having to personally visit their office in case
you decide to buy offline!
 Easypolicy.com can make the process of buying bike policy
a cake-walk for you!

22.  Expert Tips On Cutting Down Your Bike Insurance
Cost!
 Just a bit of smartness can help you cut down your bike
insurance cost!
Here, allow easypolicy.com to share some tips with you:
1. Purchase The Policy Online
 Not only it saves your time and effort, but also you don’t
have to pay commission to insurance agents. Buying your
bike insurance policy online turns out to be an easy and
cost-effective way
 For the insurance providers, it helps them to cut costs of
maintaining infrastructure, giving commission to their sales
agents and other overheads. These savings are passed on
to you in the form of lower premiums.

23.  2. Don’t Make Small Claims
 Filing the claims with insurance providers for every little repair or damage may
save you a bit of money, but when the time comes for renewal of policy, the
premium goes up. This is because the insurers consider you a high-risk
customer and charge you hefty premium. Ensure you file claims only for
expensive damages or repairs.
 Also, the moment you file for a claim, the discount on premium in the form of
No Claim Bonus (NCB) at the time of renewal of the policy goes out of the
window. Do remember that NCB starts at 20% at the end of first claim-free
year and can go up to a maximum 50%
 3. Timely Renewal
Renewing the insurance cover on time can help you in saving money in many
ways:
 If you don’t renew the policy on time, there are fines and penalties that you
have to pay when you finally get it renewed based on the lapse time between
the policies. If the policy remains expired for a considerable amount of time,
you might have to buy an entirely new policy that will attract a higher
premium. Better to buy within the time frame as advised by the insurer.
Driving on road without a valid insurance policy is illegal and there are fines to
be paid to the government for the same. Save money by renewing on time.
Another major risk is if your vehicle meets with an accident after your policy
gets expired, there will be no financial assistance from the insurer. The entire
cost will have to be borne by you!

24.  4. Ensure Safe Driving
 5. If the vehicle is old, buy a third-party
insurance cover instead of comprehensive policy
to save costs
 6. Invest in an economical bike as higher the
cost of the vehicle, higher the premium for
insurance cover
 7. Get your bike fitted with ARAI approved anti-
theft device and cut further cost on bike
insurance
 8. Pay one time premium instead of paying in
instalments
With these handy cost cutting tips, it is time to pick
your bike insurance policy form easypolicy.com NOW!

25.  Factors That Affect Your Bike Insurance Premium
 The premium of your bike insurance policy is calculated
based on the following factors:
 Age and Gender
The insurance providers look at your age, gender and
sometimes even marital status to decide on the premium.
Customers belonging in the age group of 18-25 years are
considered riskier than the middle-aged buyers based on
the insurer’s research. Higher the risk, higher the
premium!
 Bike Model and Variant
A high end expensive bike with a higher cubic capacity (cc)
will attract a higher premium compared to an economical
bike with lesser cc. There are three categories for bikes
when it comes to their cc: 0-150cc, 150-350cc and above
350cc. The premium goes up as cc goes higher.

26.  Bike Make/Year of Manufacture/IDV
New bikes attract higher premiums as the cost of repair and
damages for the newer parts is going to be expensive. Also,
newer bikes have higher Insured Declared Value (IDV), hence the
insurers have to reimburse a higher amount in case of accident or
theft. Older bikes have lesser IDV as per market values and
thereby attract lower premiums.
 No Claim Bonus (NCB)
Not filing for claims in a single year make you eligible for No
Claim Bonus (NCB) in the following year that starts from 10%
and goes up to 50% discount on the premium. There is also a
provision of transferring your NCB from one policy to another!
 Township For Which The Insurance is Required
Living in an urban and densely populated area will attract a
higher premium since the chances of an accident are higher. Also,
the areas where cases of theft or vandalism are rampant will lead
to higher premium being charged by the insurers.
 Type of Insurance
A third-party insurance cover is much economical than a
comprehensive bike insurance policy. Since comprehensive
insurance provides a wholesome financial coverage, the insurers
charge a higher premium for the same.

27.  Driving History
The number of claims filed, records of accidents, rash
driving etc. are considered when calculating premium
at the time of renewal. Higher of such instances will
result in higher premiums.
 Anti-theft Safety Discount
If your Bike is fitted with an ARAI (Automotive
Research Association of India) approved anti-theft
device, you enjoy further discounts on premium.
 At Easypolicy, you can key in all the factors and reach
the best premium value as per your needs, in just a
few clicks!

28.  Bike Insurance Renewal Process
 Renewing bike insurance policy is one of the most important
steps you can take to follow the law as well as keep it financially
safe.
If your policy has expired or about to expire, you can get it
renewed either at your insurer’s website or at easypolicy.com The
process for doing the same is extremely easy and hassle-free.
Let us examine various scenarios about renewing the policy to
have a better understanding:
Before The Policy Expires
 Contact your insurer and discuss the premium amount,
documents required and arrange for an agent to meet and collect
the information from you
 Alternatively, you can log on to the insurer’s website to check
information that’ll save your time, money and efforts
 Furnish the details as required and can also select any add-ons
you may prefer with your renewed policy
 If doing offline, write a cheque for premium payment. If buying it
online, simply swipe your credit/debit card or use net banking to
make the payment instantly and get the policy renewed
immediately

29.  After Policy Expires
Even after the policy has expired, you still have a small window,
called grace period, to get it renewed. This can vary between 3
and 30 days after the expiry date and not every insurer offers
this period. Also, certain insurers may offer free renewal during
this period and some may levy charges. Follow these steps if your
policy lies within grace period:
 Check the late fee, if any, and make that payment
 Clear all past dues and pending premiums
 Choose the policy you want to buy, select any additional benefits
or add-ons you want to add to your renewed policy
 Submit the required details to the insurer, make the payment
either online or through an agent and the renewed policy will be
delivered to you
 Renewal Outside Grace Period
If you failed to renew the policy within the grace period, your bike
insurance policy dies. If there is a significant loss of time after the
expiry, you may not be eligible for a renewal with the same
insurer. You may have to buy a new policy altogether.
Downsides Of Not Renewing Policy On Time:

30.  Higher Premiums
 Loss of Previous Benefits
 Fines Levied
 Fresh Inspection of The Vehicle
 Loss of NCB (No Claim Bonus)
 Lot of Legal Trouble With Police And Authorities Driving
Without Insurance
 Huge Expenses In Case You Meet An Accident Without An
Insurance Policy
 Details To Be Furnished For Bike Insurance Policy
Renewal:
Your Name (As on official documents)
Your Contact Number and E-mail id
Your Vehicle Registration Number And Copy of The RC
The Existing Insurance Policy Number

31.  Claim Process For Bike Insurance!
 When you pay extra and buy a comprehensive bike
insurance, you expect to stay financially secured of all the
unwanted expenses you may incur when you face an
accident, theft or natural disaster.
Thus, you will always want your claim to pass through and
you get all the reimbursement without any rejections.
Here is the process you must consider carefully, if
you want your insurer to settle your claim without
any issues.
 Note down the number of vehicles involved in the accident
and their registration numbers.
 Take pictures of the accident spot and damaged vehicle.
(such proofs will be needed)
 Inform your insurance provider about the accident.
 Lodge an FIR at the nearest police station, if there is an
utmost need, like physical injury to a third-party, property
damage to a third-party, or death of third-party involved in
the accident.

32.  In case your bike is stolen, and you are filing a claim, then
also a FIR is of utmost importance.
 Fill the online claim form available at insurer's website.
 The assigned insurer's representative will contact you
within 24 hours to have your claim registered with the
company and will also provide you with a claim registration
number to keep the track.
 An insurance surveyor will be sent to inspect the vehicle
before repair.
 You will also be informed about the network repair shops or
garages where you can get your bike/two-wheeler
repaired.
 The documents, you need to file to have your
cashless claim settled:
 Registration Certificate Copy
 Tax Receipt Copy of your bike
 Valid Bike Insurance Documents
 Valid Driving License Copy
 FIR copy in the event of theft, third-party injury, death or
property damage.

33.  In case you get your vehicle repaired on your own, and file
for a reimbursement claim then you need these additional
documents:
 Bills and receipts of repair and replacement of parts
 In case of bike theft, you may need these additional
documents:
 Duly verified R.T.O. Paper
 NOC letter in case of hypothecated bike
 Letter of Subrogation and Indemnity issued by notary
 In case you are making any third-party claims, then you
need these additional documents:
 Copy of the legal notice sent by the affected third party.
 All original documents that you furnished for verification.
 Once the filing of claim is done with all the needed documents,
forms duly filled, and a green signal is given by the vehicle
surveyor, then your insurance provider will approve your claim.
The insurer will pay the cost of repair to the network repair shop,
in case you filed for a cashless claim.
 Rest claims made and approved (reimbursement/compensation)
will be settled through NEFT or Check.
 Resource From: https://www.easypolicy.com/two-wheeler-
insurance