As a four-wheeler, two-wheeler whether a bike, scooter or a scooty is also a precious possession for many, therefore, it is important to ensure its safety. To ensure that your two-wheeler remains safe and sound it is imperative to buy a right two-wheeler motor insurance policy. Law mandates for all vehicles plying on road to have insurance. Apart from this, increasing the number of road accidents makes it even more important to secure your two-wheeler.
As it is important to buy two-wheeler insurance, hence, it is important to know the factors that impact your two-wheeler premium so that you can get the best deal.
You can easily compare all the available policies in market from all top insurance companies in few seconds to choose the best policy as per your needs from here- Two Wheeler Insurance Online
Here are few parameters that impact your two-wheeler insurance premium:-
Condition of Your Two-Wheeler
The premium for two-wheeler motor insurance policy is ascertained by taking into account Insured Declared Value (IDV) of the vehicle, cubic capacity, the zone of registration and age of the vehicle.
The condition of your vehicle is the most important parameter to decide your two-wheeler motor insurance premium.
Here are few features of your bike that can impact your two-wheeler insurance premium:-
Keeping all these factors in mind, remember that all other factors remaining same, the insurance premium of a sports bike or any other high-end bike motorcycle with a higher CC, will be considerably higher than that of the regular too-wheelers that you see on the road.
Two-wheeler insurance policy is valid for one year and needs to be renewed annually. But now insurers have started offering two-wheeler insurance policies with the longer tenure of two or three years. Long term two-wheeler motor insurance policies save policyholders from hassles of renewing it every year.
There are basically two types of motor insurance cover - third party cover and comprehensive cover. The kind of coverage you think you need for your two-wheeler is also an important factor while deciding insurance premium that you need to pay. So it is important for you to determine what type of coverage you are looking for or is required, in your case.
As per Motor Vehicles Act, it is mandatory for all vehicles plying on road to have at least third party motor insurance cover. However, it is advisable to buy a comprehensive motor insurance cover as third party motor insurance barely offers any protection to the actual customer in the long run. On the other hand, comprehensive motor insurance cover will protect you in the face of calamities both natural as well as manmade, thefts and accidents.
The motor insurance policy provides cover for natural calamities such as flood, earthquake, lightning, cyclone, fire, self-ignition etc. It also provides cover against the loss or damage of two wheelers against man-made calamities such as burglary, theft, riot etc.
Third party Two-wheeler motor insurance policy compensates you for the loss of physical damage, theft and third party liability. On the other hand, a comprehensive two-wheeler insurance policy provides cover for the liability arising out of the third party as well as the loss or damage to your own two-wheeler.
Comprehensive coverage for your bike will cost you more than a simple third party cover but it is worth spending little more for higher protection.
The level of coverage is an important factor in determining the premium you may have to pay out annually. The higher coverage you opt for, more will be the premium and vice-versa.
While deciding your two-wheeler insurance premium, insurers also take into account driver related factors such as the riding experience of the driver and the riding history, the gender of the rider and age.
One easy way to bring down your two-wheeler insurance premium is by choosing the higher voluntary deductible. The deductible is the amount the insured has to pay in case of filing any claim before the insurance company pays the rest.
If you have not made any claim in the preceding year, you can avail no-claim bonus (NCB) and get the discount on your insurance premium.
FAQ:
Which is best two wheeler insurance?,
What is the cost of two wheeler insurance?,
What is NCB in 2 wheeler insurance?,
What is difference between comprehensive and third party insurance?,
What is IDV in 2 wheeler insurance?,
What is zero DEP insurance?,
What is IDV and NCB in insurance?,
How is own damage premium calculated?,
What is difference between comprehensive and zero depreciation insurance?,
What is the best bike insurance?,
How can I get cheap bike insurance?,
What is 3rd party insurance?,
What is no claim bonus?,
How many types of insurance are there?,
What do you mean by insurance policy?,
What is NCB?,
What is two wheeler comprehensive insurance?,
Can I renew my bike insurance online?,
Is bike insurance cheaper than car?,
Is classic bike insurance cheaper?,
Which motorbike insurance is best?,
What is zero depreciation in bike insurance?,
What is meant by bike insurance?,
What was the previous NCB?,
What are the five major types of insurance?,
What are the four main types of insurance?,
What are the 7 types of insurance?,
Why a motorcycle is better than a car?,
How much does a motorbike cost?,
Are bikes more fuel efficient than cars?,
What do you mean by insurance cost?,
What is the insurance coverage?,
What does an insurance policy do?,
Is basic insurance full coverage?,
What insurance covers it?,
What's the coverage?,
How much is a $500 000 life insurance policy?,
What insurances should I have?,
Which is better term or whole life insurance?
You can easily compare all the available policies in market from all top insurance companies in few seconds to choose the best policy as per your needs from here- Two Wheeler Insurance Online
Here are few parameters that impact your two-wheeler insurance premium:-
Condition of Your Two-Wheeler
The premium for two-wheeler motor insurance policy is ascertained by taking into account Insured Declared Value (IDV) of the vehicle, cubic capacity, the zone of registration and age of the vehicle.
The condition of your vehicle is the most important parameter to decide your two-wheeler motor insurance premium.
Here are few features of your bike that can impact your two-wheeler insurance premium:-
1. Manufacturing year of the vehicle
2. Fuel type of the bike
3. Place of registration of the two-wheeler
4. Model and class of the bike
5. Make of the two-wheeler
6. Accessories and modifications carried out on the two-wheeler
7. Current showroom price of the bike
8. Number of miles plied on the bike
2. Fuel type of the bike
3. Place of registration of the two-wheeler
4. Model and class of the bike
5. Make of the two-wheeler
6. Accessories and modifications carried out on the two-wheeler
7. Current showroom price of the bike
8. Number of miles plied on the bike
Keeping all these factors in mind, remember that all other factors remaining same, the insurance premium of a sports bike or any other high-end bike motorcycle with a higher CC, will be considerably higher than that of the regular too-wheelers that you see on the road.
Two-wheeler insurance policy is valid for one year and needs to be renewed annually. But now insurers have started offering two-wheeler insurance policies with the longer tenure of two or three years. Long term two-wheeler motor insurance policies save policyholders from hassles of renewing it every year.
Type of Cover
There are basically two types of motor insurance cover - third party cover and comprehensive cover. The kind of coverage you think you need for your two-wheeler is also an important factor while deciding insurance premium that you need to pay. So it is important for you to determine what type of coverage you are looking for or is required, in your case.
As per Motor Vehicles Act, it is mandatory for all vehicles plying on road to have at least third party motor insurance cover. However, it is advisable to buy a comprehensive motor insurance cover as third party motor insurance barely offers any protection to the actual customer in the long run. On the other hand, comprehensive motor insurance cover will protect you in the face of calamities both natural as well as manmade, thefts and accidents.
The motor insurance policy provides cover for natural calamities such as flood, earthquake, lightning, cyclone, fire, self-ignition etc. It also provides cover against the loss or damage of two wheelers against man-made calamities such as burglary, theft, riot etc.
Third party Two-wheeler motor insurance policy compensates you for the loss of physical damage, theft and third party liability. On the other hand, a comprehensive two-wheeler insurance policy provides cover for the liability arising out of the third party as well as the loss or damage to your own two-wheeler.
Comprehensive coverage for your bike will cost you more than a simple third party cover but it is worth spending little more for higher protection.
The level of coverage is an important factor in determining the premium you may have to pay out annually. The higher coverage you opt for, more will be the premium and vice-versa.
Rider's Details
While deciding your two-wheeler insurance premium, insurers also take into account driver related factors such as the riding experience of the driver and the riding history, the gender of the rider and age.
Voluntary Deductible
One easy way to bring down your two-wheeler insurance premium is by choosing the higher voluntary deductible. The deductible is the amount the insured has to pay in case of filing any claim before the insurance company pays the rest.
No-Claim Bonus
If you have not made any claim in the preceding year, you can avail no-claim bonus (NCB) and get the discount on your insurance premium.
Add-On Covers
If you have high end two wheelers or have spent a lot in terms of accessories and you now need to protect it, add-on covers can fulfil your this requirement. For buying add-on covers you need to pay the nominal additional premium. Some of the important add-ons cover that you can consider include zero depreciation cover, engine protect, roadside assistance, etc. However, go for only those add-on covers that you really require.Compare
To get the best deal on your two-wheeler insurance, make sure that you compare all available plans in the market and then buy the best policy. The best way to save on your two-wheeler insurance premium is by comparing two-wheeler insurance premium rates online. Do research before buying any two-wheeler insurance policy so as to get most affordable price.The Best two wheeler insurance in India
- Bajaj Allianz Two Wheeler Insurance
- Bharti AXA Two Wheeler Insurance
- HDFC Ergo Two Wheeler Insurance
- TATA AIG Two Wheeler Insurance
- Reliance General Two Wheeler Insurance
- New India Assurance Two Wheeler Insurance
- SBI General Two Wheeler Insurance
FAQ:
Which is best two wheeler insurance?,
What is the cost of two wheeler insurance?,
What is NCB in 2 wheeler insurance?,
What is difference between comprehensive and third party insurance?,
What is IDV in 2 wheeler insurance?,
What is zero DEP insurance?,
What is IDV and NCB in insurance?,
How is own damage premium calculated?,
What is difference between comprehensive and zero depreciation insurance?,
What is the best bike insurance?,
How can I get cheap bike insurance?,
What is 3rd party insurance?,
What is no claim bonus?,
How many types of insurance are there?,
What do you mean by insurance policy?,
What is NCB?,
What is two wheeler comprehensive insurance?,
Can I renew my bike insurance online?,
Is bike insurance cheaper than car?,
Is classic bike insurance cheaper?,
Which motorbike insurance is best?,
What is zero depreciation in bike insurance?,
What is meant by bike insurance?,
What was the previous NCB?,
What are the five major types of insurance?,
What are the four main types of insurance?,
What are the 7 types of insurance?,
Why a motorcycle is better than a car?,
How much does a motorbike cost?,
Are bikes more fuel efficient than cars?,
What do you mean by insurance cost?,
What is the insurance coverage?,
What does an insurance policy do?,
Is basic insurance full coverage?,
What insurance covers it?,
What's the coverage?,
How much is a $500 000 life insurance policy?,
What insurances should I have?,
Which is better term or whole life insurance?