What's Covered in Two Wheeler Insurance?

With average 1,62, 280 two-wheeler-related accidents reported in every year, having motor insurance is a necessity. Enjoy an umbrella of benefits that include coverage for your vehicle in the event of road accidents and damages caused due to natural calamities. Get the best bike insurance online in India today!

  • Loss or damage to the vehicle due to natural calamities

    Bike insurance covers damages caused by fire outbreaks, lightning strikes, earthquakes, floods, typhoons, hurricanes and landslides and other such natural calamities.

  • Loss or damage to the vehicle due to man-made disasters

    Get coverage for burglary/theft and damages caused to your two-wheeler due to communal riots and other such malicious acts.

  • Self & Rider Coverage

    Two-wheeler motor insurance not only covers the rider from injuries sustained due to an accident, but it also covers the person riding pillion.

  • Third-party Legal Liability

    Accidents can result in damages to your two-wheeler and/or permanent disability/death of a person. Choose two-wheeler motor insurance to stay protected against legal liabilities that arise out of such incidents.

  • Repair/Replacement Cost

    Repairing a damaged vehicle is costly. Add to that replacement of a particular two-wheeler component (engine for example) and the expenses are bound to sky-rocket. With two-wheeler insurance, you are covered for such expenses!

Exclusions in Two Wheeler Insurance

  • Normal wear and tear of the two-wheeler.

  • Mechanical or electrical breakdown of the insured two-wheeler.

  • Damages caused to a two-wheeler when the rider is under influence of alcohol or drugs.

  • Any damage caused to the two-wheeler when riding without a valid license.

  • Damages caused when the two-wheeler insurance policy is not active.

  • Third-party-related damages caused to your vehicle.

  • Third-party-related damages, natural calamities, incidents of civil disturbance and normal wear and tear.

  • Third-party-related damages arising out of theft, sabotage, mechanical or electrical breakdown of your vehicle.

  • Third-party-related damages caused when riding without a valid license.

  • Third-party-related damages when riding under the influence of alcohol or drugs.

  • Third-party-related damages when the bike insurance policy is not active.

Why choose Finserv Markets For Two Wheeler Insurance

Trusted companion

Be part of our 100 million+ customer base and let us take care of your financial needs.

Round-the-clock Assistance

Rain, hail, sun or storm – We're available 24X7 to assist you. Get in touch with us, anytime, anywhere!

Cash-free Servicing

We’ve partnered with 4000+ garages that offer cash-free servicing. Also, for garages that don’t offer this facility we provide 75% on account payment.

No Third Party Involvement

No part of our work is outsourced. From verification to claim processing – there’s no third-party involved.

Hassle-free Renewal

Renew your policy online from anywhere in minutes! What’s more? No vehicle inspection needed if your policy has lapsed.

How To Apply For Two Wheeler Insurance?

No rocket science here! Follow 5 simple steps and you’re done

  • Choose your coverage

  • Fill Form - Vehicle Details

  • Assessment by Insurer

  • Complete payment

  • Policy issued

Claim Process for Two-Wheeler Insurance

Filing claims was never so simple. Just follow these steps and you’re done!

  • 1

    Register your claim online

  • 2

    Upload documents online

  • 3

    Claim Assessment

  • 4

    Claim Decision

For information on cancellation of your motor insurance policy, refer to the 'Process' section below.

  • Process
  • Download
  • Emergency Contact
  • Register a Claim
  • Documents Required
  • Vehicle Repair
  • Claim Settlement
  • Cancellation Process
  • Register a claim

    You would need to register a claim as soon as possible following the accident/theft of your car. You can register claim under your Bajaj Allianz bike insurance policy online by visiting the page here or over the phone by dialing our Toll free number - 1800-209-5858, post which you will be connected to our customer care executive who will guide you through the entire Car Insurance claim process. Use the link below to register your claim.

  • Documents required

    Please keep the following information handy while registering a claim:

    • Engine and Chassis Number
    • Accident date and time
    • Description and location of the accident
    • Two-wheeler inspection address
    • Km. reading
    • Police complaint, in case of theft

    Please note that in case of theft, you would need to file a police complaint as soon as possible, so that when you are registering a claim with us you are able to produce the same, along with the other documents.

  • Vehicle Repair

    Whether your two-wheeler is vandalized, meets with a collision, or gets damaged by some peril, you would need to take it to the garage, if it is in a movable condition, or have it towed there to avoid any further damage.

  • Claim Settlement

    You will have to submit the copies of all the required documents to the garage/dealer who is helping you with your vehicle insurance claim and get them verified with the originals. Following which, we will make the payment for the repair directly to the network garage once it is ready to be sent back to you. Do note that you will have to pay the excess amount according to the norms mentioned in your policy that include depreciation amount, salvage etc. which will be informed to you by our surveyor.

    If the loss is not so severe, we suggest that you avail the spot settlement of Two-wheeler Insurance claims through Bajaj Allianz Mobile settlement service.

  • Company Cancellation

    The insurance provider may cancel your insurance policy providing a written notice 15-days prior to the date of cancellation. If no claim has been made, a refund of the premium for the unexpired policy period shall be provided on a pro-rata basis.

    Your insurance policy will be cancelled for reasons such as non-disclosure of material facts, misrepresentation, fraud and non-cooperation.

  • Customer Cancellation

    As a customer, you may cancel your insurance policy by providing a written notice 15 days prior to cancellation date. If you've made no claims, the insurer will refund short-term rates for the unexpired policy period.

  • Motor Insurance Claim Form
  • Mandate for Direct Loss Payment

Line to redirect customers to links category.

  • Motor Insurance Claim Form
  • Mandate for Direct Loss Payment

Need further assistance? Reach out to us on our Toll-Free Number: 1800-209-5858 and our insurance experts will connect with you shortly.

Two Wheeler Insurance: An Overview

Two-wheeler insurance is a motor insurance policy that provides a financial cover for your two-wheeler in case of theft, damage or a natural disaster. A Bajaj Allianz bike insurance policy also covers you in the event of an accident and for the liabilities arising from injuries, damages suffered by both you and a third-party. A bike insurance policy covers all the cost that might arise due to an accident or theft. You can avail a two-wheeler insurance for your bike, scooter, and moped.

You can purchase a two-wheeler insurance in a hassle-free and quick manner. 

 

Types of Two-Wheeler Insurance Plans

There are generally two types of two-wheeler insurance policies:

·         Third-Party Liability Cover: It provides financial cover only to the third party against damages through your bike

·         Comprehensive Cover: it covers the mandatory third party liability for any damages inflicted on a third party or property. It also covers any damages suffered by your bike and you.

Basis     

Third-party liability cover

Comprehensive cover

Nature of benefit    

Provides financial coverage only to the third party against any damages arising due to your two-wheeler    

Provides financial coverage to you as well as to the third party against any damages arising due to your two-wheeler

Compulsion

Mandatory as per the law

Not mandatory by law

 

Nature of coverage    

Coverage against any damage/ loss to third party    

Coverage against natural calamities, theft, loss or damage to the insured. It also includes a personal accident cover for the rider

Things to know when buying a Two-Wheeler Insurance

No Claim Bonus (NCB)

No Claim Bonus is essentially a discount on your next premium payment in case you do not make any claim during the tenure of the policy.

Insured Declared Value (IDV)

Insured declared value (IDV) is the maximum sum assured that the insurance company will offer when you make a claim in case of theft or damage. This value is equivalent to the current market value of your two-wheeler after deducting depreciation. IDV value is used to determine the value of the compensation that will be offered to you.

Cubic Capacity (CC)

Cubic capacity is the measurement of the engine capacity of your two-wheeler. It is an important factor that is considered when determining your premium amount. The premium amount increases with the increase in Cubic Capacity.

Two Wheler Insurance Policy Renewal

To ensure continued benefits from your two-wheeler insurance policy, you will need to renew the same before it expires. You can now renew your two-wheeler insurance policy online in a hassle free, easy and convenient way. In case your policy lapses, you sometimes might get a grace period. However, if there still a delay from the policyholder, the policy will lapse and the claims will not be accepted.

 

Steps to Renew your Bike Insurance Policy

1.       As a first step, you must enter your necessary details, including your policy number, date of policy and its expiry date.

2.       Once you have entered this information, you will be provided with the details of your bike insurance plan which you can check and review.

3.       If any updates or changes have happened in the premium amount over the duration of 6 months to one year, it will be mentioned in the renewal details.

4.       Once done reviewing, you need to agree to all the stated terms and conditions, and renew your policy. Upon renewal, the policy is functional again for you to avail its benefits!

Know more about Two Wheeler Insurance

Keep your two wheeler safe with Bajaj Allianz Bike Insurance which assures you instant policy issuance at affordable premiums. With a vast network of 4,000+ cashless garages across all major cities, Finserv Markets helps you ride worry free no matter where the road takes you! Have a look at our range of bike insurance plans across a variety of brands and models you can choose from

Manage all your queries here

  • What are some of the risks that your third-party bike insurance policies cover?

    Bajaj Allianz two-wheeler insurance (third-party) policies cover these risks: 1. Injury or death of the third-party, 2. Any damage caused to the third-party and 3. Any liability in the case of the death of the third-party or if any injury stated is unlimited.

  • Is it beneficial to choose a long-term two-wheeler insurance plan?

    Long-term two-wheeler insurance plans cover more than just damages caused due to natural calamities. Coverage under the best bike insurance plans on a long-term basis include accidents and any unforeseen event. In terms of benefiting from such plans, the policy holder doesn’t have to face the hassle of documentation during policy renewal, making it extremely convenient for him/her.

  • I plan to transfer my Bajaj Allianz two-wheeler insurance to a new provider. Can my ‘No Claim Bonus’ (NCB) be transferred from my current insurance provider to the new company?

    Sure, you can transfer up to 50% of your NCB from the old (current) insurance company to the new provider.

  • My Bajaj Allianz two-wheeler insurance policy has expired. Can I have it renewed into a long-term insurance policy?

    Let’s answer this in two parts. 1. Yes, you can renew your expired bike insurance policy online. 2. During renewal, you (the policy holder) can opt to have the Bajaj Allianz bike insurance policy coverage extended to a 3-year plan. Alternatively, you can continue with your current plan duration as well.

  • What are the consequences of an expired two-wheeler insurance policy?

    Upon expiry of your bike insurance policy, you are exposed to risks that were covered by your Bajaj Allianz bike insurance plan. The consequences of this are as follows: 1. Negative impact on your NCB, 2. Exposure to third-party risks and liabilities, and 3. Increase in costs related to repairs of your vehicle as these are not covered by any insurance policy.

  • What do you mean by IDV for bike insurance? How do you calculate IDV?

    In motor insurance terminology, IDV for bike insurance refers to the current market value of the vehicle. It corresponds to the maximum sum assured fixed on the vehicle by the bike insurance company and is paid against total loss or theft of the bike. This calculation reached at on the basis of the selling price of the bike as determined by the current manufacturer minus depreciation.

  • Do you provide round-the-clock bike spot assistance? What does it cover?

    Yes, Bajaj Allianz bike insurance policies offer 24X7 spot assistance as a rider and it encompasses minor bike repairs, replacing lost keys/tyres, dealing with dead batteries, towing facilities, fuel assistance, accommodation and taxi benefits and providing legal advice.

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