Facts You Didn't Know About Two-wheeler Insurance Policy

Bikes are one of the most popular mode of transportation by many. But while riding a bike, you have to be extra cautious because it is more prone to risk. Keeping that in mind, you must have a two-wheeler insurance policy to protect your bike from unwanted risks. There are some facts associated with your two-wheeler insurance policy that you must know. Read below.

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Unknown Facts That You Didn't Know About Two-wheeler Insurance Policy 

A policyholder always focuses on the coverage, benefits, inclusions, or exclusions of a bike insurance policy. However, there are some other factors that you must consider while buying a bike insurance policy. Below we have discussed a few unknown facts about the two-wheeler insurance policy that you should keep in mind while buying. 

1. You Can Easily Customise Your Two-wheeler Insurance Policy

Your two-wheeler insurance premium depends on factors like the engine's capacity, bike model, manufacturing year, geographical location, etc. But it is possible to customize your insurance policy as per your needs by buying add-on covers that suit your requirement. For example, if you own a sports bike, you must have zero depreciation cover, personal accident cover, anti-theft device cover, engine protection cover, and personal accident cover to minimize the unexpected expenses as much as possible. 

2. Avail Cashless Facility in Your Two-wheeler Insurance Policy 

In India, many two-wheeler insurance companies are offering cashless claim facilities. But you must select it at the time of buying. While raising claims, your bike will be sent to a nearby network garage at your locality for the repairs. As your two-wheeler insurance company will have a tie-up with this garage, you won't have to pay a single penny from your pocket except for the expenses that are not mentioned in your policy documents. 

3. You Also Get Legal Protection with Your Bike Insurance Policy 

Many people are not aware of this benefit. In case you meet with an accident, there can be legal consequences with the third party. That is why your third-party bike liability policy offers you legal assistance in such cases. 

4. It is Not Mandated to Buy a Two-wheeler Insurance policy from Your Bike Dealer 

It is not a rule to purchase a two-wheeler insurance policy from your bike dealer. Also, many people consider it a compulsion to buy from your authorised bike dealer. However, it is not true because you can compare and buy more suitable two-wheeler insurance online. Also, websites like Policybazaar.com offer you the benefit of comparing multiple plans in one place and then choosing them according to your budget and needs. 

5. Your Bike's Engine is Not Covered Under Your Standard Policy 

Do you know, the engine is the most expensive part of your bike. The repair or replacement cost for it can be quite expensive. Therefore, your bike's engine is not protected under your insurance policy, and it is advised to buy an engine protection add-on cover to minimize your expenses. 

6. You Cannot Raise a Claim for the Damages Outside the Geographical Limit Mentioned in Your Policy

This is one of the exclusions of your two-wheeler insurance policy that you usually ignore. In your policy, a geographical limit is mentioned, and your insurer is liable to cover the losses that occurred within the defined location.

7. The Road Assistance Add-on Cover Offers Multiple Complimentary Services 

In your road assistance add-on cover, you can avail of multiple free services, including on-spot repairs, free towing, fuel refill, on-call assistance, etc. Therefore, it is life saviour if you suffer a bike breakdown in the middle of your way. 

8. Your Two-wheeler Insurance Premium Rises If Your Policy Lapses 

You must renew your two-wheeler insurance online on time because having an expired policy means you will be liable for any financial liabilities for the damages that occurred, and your premium will also increase. If you fail to renew your two-wheeler insurance policy even in your 90 days grace period, then you will have to lose all the accumulated bonus. 

9. You Can Use Tricks to Reduce Your Two-wheeler Insurance Premiums

There are a few tricks that can be used to decrease the bike insurance premium. You can choose a higher voluntary deductible, an Insured Declared Value (IDV) of the bike, accumulate a higher NCB, and renew the policy before the expiry date, all these tricks will help you lower the policy premium.

10. Depreciation Plays a Vital Role in Lowering Your Claim Amount 

Depreciation of bikes means reducing the market value of the bike because of regular wear and tear. The regular wear & tear, claim history, etc., decreases the bike's market value. While raising a claim against the damages, the depreciation is considered, and it affects the claim amount. 

Therefore, it is suggested to have zero depreciation add-on cover as it will increase the claim amount. 


In the above paragraphs, we have penned some of the unknown facts that you must keep in mind when buying two-wheeler insurance. Also, pay a little attention to the things like Insured Declared Value (IDV), No Claim Bonus (NCB), and add-on covers when you buy a plan. 

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.

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^The renewal of insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for a transaction may vary subject to additional data requirements and operational processes.

^The buying of Insurance policy is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. Actual time for transaction may vary subject to additional data requirements and operational processes.

#Savings are based on the comparison between highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*TP price for less than 75 CC two-wheelers. All savings are provided by insurers as per IRDAI-approved insurance plan. Standard T&C apply.

*Rs 538/- per annum is the price for third party motor insurance for two wheelers of not more than 75cc (non-commercial and non-electric)

#Savings are based on the comparison between the highest and the lowest premium for own damage cover (excluding add-on covers) provided by different insurance companies for the same vehicle with the same IDV and same NCB.

*₹ 1.5 is the Comprehensive premium for a 2015 TVS XL Super 70cc, MH02(Mumbai) RTO with an IDV of ₹5,895 and NCB at 50%.

*Rs 457/- per annum (1.3/day) is the price for the third-party motor insurance for private electric two-wheelers of not more than 3KW (non-commercial). Premium is payable on an annual basis